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Author: foo1bar Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127236  
Subject: Re: question: down payment on my first home Date: 5/16/2013 4:01 PM
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You present this as if it was an evil thing on my part to try to take advantage of "super-fair" loan documents "that everyone else sings". I am trying to alter the document so that it covers my needs.

I don't think anyone has implied that trying to alter it is evil.
However I think there is an overwhelming agreement that the idea that you can successfully strike that clause from the contract AND get the bank/lender to agree to it is naive. (And it's understandable you're not aware of this being one of those cases where things are not negotiable since it is your first home)

BTW - you compare it to striking out noncompete agreements in employment contracts... Those usually are very negotiable. And in some cases unenforceable anyhow. Also there is no secondary market for your employment contract - so it's quite a different beast.
A closer example would be if you tried to apply for a credit card, and crossed out some terms in their application. Almost certainly they would reject your application (or not even accept it)

just as I doubt your employer pays your rent or mortgage if they require you to relocate.
For myself -
For a temporary assignment (ex. less than 1 year), they absolutely pay my rent/hotel.
For a longer assignment, they pay for relocation - they pay the movers to move my crap, they pay the RE agents to sell my house. I think they even pay for a house-hunting/apartment hunting trip (airfare + hotel), as well as other misc. expenses.
Personally, if they didn't do that, and wanted to relocate me, I *would* be looking for a new employer. (why should I pay for those expenses out of my salary just for my employer's benefit? )
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