An awful lot of people claim they got duped into signing something they didn’t understand when they ended up in financial trouble over a mortgage. An awful lot of other people think the people in the first group are morons for not reading the disclosures and they deserve what they got.
Suppose you go to LendingTree.com, fill out the initial application, and then actually read the disclosure documents before submitting your loan request. Do you know what you have in front of you?
Sixty-two pages of legal text, 2,300 lines, 474 paragraphs, 19,361 words.
Thank goodness for lawyers and politicians for providing us with “truth in lending.”