Robo-nothing: 9 documents you MUST read before signing
This recession has given birth to more new lingo than any other economic phenomenon in recent memory. We’ve had bailouts and frugalistas, ponzimonium and staycations, and now, I’m sure you’ve heard about the massive “robo-signing” scandal that is literally sweeping the entire nation.
But you may still wonder what exactly “robo-signing” is: staff members at some of America’s largest mortgage lenders were tasked with signing 10,000 foreclosure documents per month, by hand. Given that they were also supposed to be reviewing the files and papers before they signed, that’s just not humanly possible. Hence, the term “robo-signing,” shorthand for simply signing extremely important documents without reading them.
As absolutely inexcusable as the banks’ repossession of people’s largest asset without verifying the documents is, the fact is that all of us “robo-sign” things without reading them on a daily basis.
Here are nine things you should not sign without reading: