The current disclosures for alternative or nontraditional mortgage products are too complicated and confusing for a person with a sixth-to-eighth grade education to understand, a recent Government Accountability Office study has found. The GAO study on the effectiveness of alternative-mortgage product disclosure, found that today’s disclosures are written at the level of a person in the 9th to 12th grade, “with an average near the 11th grade,” the study concluded...