Require all State's to list the consequences of default in plain language on all mortgage documents.

There is a lack of understanding by consumers of State laws regarding the consequences of a delinquency and foreclosure on their properties. Mortgage documents in all States should list in plain language these consequences. Most mortgage documents have consumers refer to State Law regarding these issues. For those who can not afford an attorney, many were unaware and confused about the legal issues that they were now facing including tax consequences on forgiven debt, rights of first and second mortgage holders to sue for deficiency, and the fact that Private Mortgage Insurance did not offer protection from these issues. I propose that all mortgage documents, include State Laws to be listed in detail and in plain language regarding the consequences of defaulting on a mortgage.