The most confusing document in the entire loan package is the Truth-In-Lending Disclosure Statement. I’ve heard more than one escrow officer refer to it as the “Confusion-In-Lending” and simply ask the borrower to sign with a cursory explanation usually saying it’s the loan costs rolled into the interest rate or something similar. While not entirely inaccurate, it doesn’t really explain the “TIL” as it’s referred to in the biz. With […]
