SELDOM-READ HOME LOAN DOCS MUST CHANGE:EXPERTS
Feb 25, 2008
The papers that U.S. borrowers sign when buying a house are piled so high that few people read them all, and even fewer absorb the information. LUKE FROEB, associate professor of management, says a drive in recent years to give borrowers more information has backfired. Additional data and legalese has turned the forms into perhaps a dozen pages of fine print. "The disclosures have gotten so large that nobody ever reads them anymore," said Froeb
The Washington Post ran the story online.