Home > Uncategorized > Last Mortgage Mistake to Avoid: NOT reading your loan documents.

Last Mortgage Mistake to Avoid: NOT reading your loan documents.

Ok so some things just should be a given.  Read what you sign before you sign it!  Mark it down. Add it to your list. It’s an always not a sometimes. 

I am not making this up:  99% of my mortgage closings are done at the escrow office however I have probably signed oh, say, 100 mortgage transactions in my career.  I would say what, I don’t know, 100 of them the client said, “Where do I sign?” before even THINKING about reading the document. What? Ok, call me crazy but I read the fine print on my cereal box.  Although important, that is not my 30 year mortgage document!

It is the borrower’s responsibility to read, understand and agree to their mortgage terms.  It is almost impossible to turn back the clock if you decide what you signed was not what you thought it was.  Yes, it’s a pain. Reading through, what is now 50+ pages of mortgage loan documents but it is worth it to confirm what you thought, ask questions about what you don’t understand and make corrections if you see errors BEFORE you sign. 

Don’t be afraid to ask your loan officer or realtor to attend your signing with you too.  It is the last step in your happy new house experience and our last step in future referrals.  We are happy to do it!

Having a dream is good, owning one is better!

Leslie Pelletiere, Owner

First Class Financial Services

602.294.9288 (p)

www.fcfs.net          mortgagedr@fcfs.net

MB#0902810 / NMLS #162476

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