Lisa,
Whether one agrees or disagrees about how the top portion of the 1003 should be signed,
I think it's fair to say that there is still a goodly amount of confusion over the issue . Those
who concoted the the top paragraph should re-think the whole thing for two reasons:
1) If it's unclear...it should be re-done. It obviously was and is and will continue to be if nothing is done.
2) The whole paragraph at the top should be put at the bottom where any logical-thinking person would look for it.
The numbskull(s) who drafted it and decided the top of the form was the place to put it,
need an MRI or a Cat-scan on the portion above the shoulders.
And while we're on the confusion factor...
The first box on the TIL (Truth-In-Lending)--aka annual percentage rate--should be tossed out and re-worked as well.
I had two borrowers today in two separate loans..decide to cancel because of it. But, they thought better of it when I explained what it was.
It's a government form...so I suppose congress would have to change it or some regulatory agency. But, it too, IMHO should be knocked out and reworked.
But what do I know.
I could tell the "form people" what I think...but they could care less and will do what they want anyway.
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