One would have to be rather cavalier (or naive or dumb) not to read all loan documents before signing.

Sympathy for those who don't? Please... If you're going to give someone a signed blank check, don't complain later when they cash it.

Sure there's a lot of paper involved. But most of it is boiler plate. If you need more than an hour or so (typical time) to thoroughly understand what you're signing, take the documents home to study and bring them back another day. (It's unreasonable to ask the signer to spend 3-4 hours to sign.)

Or ask your agent to attend signing with you. If your agent won't attend closing, or doesn't know what's important to check, you can find a buyer's closing table checklist at http://edgewoodblog.com/2007/09/22/home-buyers-closing-table-checklist/
to use as a guide to get you started.

One of the documents you'll normally sign is a statement saying you have had the opportunity to read all documents and that you do understand them. If escrow urges you to sign before knowing/reading what you're signing, I suggest changing escrow companies.

I do. but, I'm a lawyer. OTOH, there's not really anything you can do about it - the lenders will not change a term in their boilerplate. I just use it for risk assessment.

In the past few years I've been researching who are the successful agents, tried to figure out why top agents are top agents.
Do they have a common educational background? No. Good ones have high school diplomas, masters and doctorates. No correlation.
Similar previous careers? No. One of the best agents I know used to teach baton twirling. I doubt if I could find a lot of those if I tried! I've had waiters, teachers, high powered executives and stay-at-home Moms who were all very successful.
Common interests? No. Other than eating, (which we Realtor-types seem to do exceptional well) the interests are widely diverse.
After 13 years in real estate sales and management, I've only found a few constants.
1. Successful agents treat the real estate business as a business. They actually have a business plan and a budget. They understand that you have to spend money to make money. They know how many sales they need to make the income they require and then they figure how they'll get from here to there. They plan in advance and execute the plan.
2. They actually work when they work and play when they play and take a day or two off every week. (Just like a "real job!")
3. They have fun and enjoy selling real estate but know that it won't be forever.
4. They buy a lot of real estate for investment when they see good deals because they know that no one gets rich selling the stuff. You get rich owning it! Financial independence gives one a lot of freedom, autonomy and a certain air of confidence that smells like success.
. . . And people like to do business with successful people so they do more business!
That’s why I choose this realtor http://www.realtydirectorymakers.com/ for my future

As a member of the escrow community, I have an opinion regarding home buyers understanding their loan documents. Escrow closers have an obligation to ensure all parties have a clear understanding of the documents being signed. However, time may not allow for reading all of the documents at the time of signing. One option is for the client to take copies of the documents home prior to signing. Another is to review the documents in the signing room before their signing appointment. If a client does not read the entire document prior to being signed, a description of the meaning of the document is given. Certainly more detail is given to the documents that are not "boilerplate". The terms of the loan, such as loan amount, interest rate, payment amount, interest change dates, and prepayment penalty features are gone over with the client. A prepayment feature in a loan or an adjustable interest rate should not be a surprise to a borrower. The words "Adjustable Rate Note" at the top of the promissory note are not "small print". Any prepayment penalties are disclosed on attachments to the note and security instrument. It would be hard to miss those terms. However, on an adjustable-rate note, it is difficult to predict what the payment will be after the change date. I always appreciate the real estate agent and/or the loan officer attending the signing. The combination of all parties representing the client attending the signing ensures that any questions that come up do get answered.

I completely agree with "mobilesigner"....and would like to add, that the escrow signer/company, is not involved in the processing of the loan.So, if the loan officer has their buyer/borrower on a loan program that includes an ARM, or a pre-pay penalty...it should be communicated to the client before even getting to the signing table. But obviously this is not always the case...and when sitting down to sign...the signer points out these important terms of the loan...if the borrower is confused and unaware of these terms...a phone call needs to be made to the loan officer (if not attending the signing) so that he/she has the opportunity to explain the reasons this particular loan program was selected for the client. Many times..the client wants to know "WHY" they are on that particular loan program....and escrow will not have that answer.

As an LO, I obviously didn't read my documents, because I already knew them front to back. Most of my clients don't read them in detail. Fortunately for them, I'm an honest guy who tells them exactly what they're agreeing to long before they're anywhere near the closing table. But not everyone is like me. I don't suggest you waste hours of your escrow officer's time by sitting and reading every page in their presence. But in the case of a purchase, is possible, get a copy of the documents a day in advance so you can review them in you own home. Even if you don't have time to read them cover to cover, it isn't truly necessary. There are multiple federal laws that are designed to make it so you don't have to. Many of the pages you sign are actually just boiled-down, easy-to-understand versions of the two documents that actually matter; the Deed of Trust, and the Note. By looking at the Good Faith, and Truth in Lending carefully, and skimming the Note and Deed of Trust for any inconsistencies, you can more than adequately protect yourself. And of course, remember that with refinances you have a three day right of recission, meaning that even after you've signed on the dotted line, you have three days review the papers in the privacy of your own home, have them reviewed by an attorney, or a competing lender, and reject the loan if you so choose. There are a select few situations where that right is waived, but they're very rare, and because of the conditions that have to be met to do so, you're generally pretty safe.