UNDERSTANDING the fine print on a mortgage agreement is very important.
Real-estate experts agree there are a few things prospective mortgagors should double check and fully understand before signing their name.
Firstly, ask if the agreement lists specific insurance requirements or any special conditions pertaining to the insurance and make sure to fully review the mortgage agreement to find out if its includes the right to sue the lender for any misrepresentation in the loan.
Mortgagors should also make sure to receive a copy of the mortgage agreement and of all related signed documents in case they need to review them at a later time. Hold off on signing the agreement until all necessary copies have been delivered and make sure to avoid signing unless a certified notary is present.