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Can we talk about paying for a loan audit service?
I dropped $500 on a professional loan document review because my commercial mortgage terms felt off. The guy found a hidden fee clause that would have cost me over $15k in year three. Has anyone else used a service like this and actually had it pay off?
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anna_ross193d ago
Hired a guy to check my car loan paperwork. He caught an early payoff penalty they never mentioned. Saved me a grand easy.
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the_charlie5d ago
Totally agree with getting a second look, but I wouldn't say the documents are confusing on purpose. That gives too much credit. Most of the time it's just sloppy copy-paste from old templates and nobody updates the bad parts. My last lease had a line about paying for the building's oil heating system. The building has had gas for a decade. They just never cleaned up the boilerplate language.
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the_christopher5d ago
That "hidden fee clause" thing is exactly why I tell people to get a second set of eyes. A lot of folks just trust their lawyer or broker handled it, but those docs are designed to be confusing on purpose. You basically paid $500 to make $15k, that's a no brainer lol. I'd do it again for any big contract now, not just loans.
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