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August 08, 2007

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cooljulie

Even I don't understand much about mortgages. I just don't know, maybe I got bored during the discussion or just clueless. Thanks for the post, by the way. Now I know I must listen to the broker or whoever before signing and read it all over again, ask questions and research. It's my money that's at stake, after all.

KGoodman

James -

I have found that almost no one reads their contract or understands the terms of their mortgage. They just listen to the overview of each page given by the closer and then "sign here, initial here" etc. Then they are surprised when their interest rate goes up or their escrow payment increases. If only people would read and understand before they sign!

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