I just ran across this article from the Washington Post in the Real Estate Section of our local Sunday paper.

A  lawsuit by a Wisconsin couple alleged that Chevy Chase Bank did not clearly disclose the terms of the adjustable-rate mortgage they took out on their home.  The article states that some words in the top right corner of "a document the lender must provide under the Truth In Lending Act" (I'm guessing they're referring to the Good Faith Estimate) led the borrowers to believe the loan was fixed for five years at 1.950%.

Everyone who has closed a real estate loan knows that there are reams of paperwork involved with such a transaction; however, what I don't get is that in this age of consumer advocacy and information, why do so many borrowers fail to protect themselves, going through these transactions like they're buying a loaf of bread?

Regards,
Scott L. Perry, President
Jireh Business Information Solutions, Inc.