Most folks wouldn't consider buying a home without first getting an inspection. Most purchase contracts have a "subject to inspection" clause.

With mortgages being so complicated these days, maybe they should have a "subject to inspection" clause, too. And maybe a company with a team of real estate lawyers, bankers, and personal finance advisers that reviews mortgages for a flat fee of $200 or so could save home buyers thousands (or their homes).

I wonder how many people even read their mortgage contracts beyond the principle, interest, and escrow payment amounts? One time we actually had a title company employee yell at us in frustration because we wanted to waste their valuable time by actually reading all twenty pages of the thing before we signed it. And even if you read the whole thing, can you understand it?

UPDATE: Oh, wait. Somebody already thought of this. (I ran across a couple of others, though, that work for mortgage companies on commission. They probably aren't the most objective source of advice.)