Why mortgage contracts will not go paperless in the near future.

Our culture is vastly changing, technology advances force our attention in all directions.  Recently, I had a professor speak of his daughter, who was teaching younger children,  She had handed her students paper books which had bullet points for each topic.  My professor explained the student's to be baffled as they all tried to "swipe" the bullet points and then informed his daughter the books were "broken".  This is an example of the nature of the beast if it is capable of digital form odds are, even as a child, that is what we expect to get.  So why not apply this principle to home mortgage contracts?  Bellow I have weighed out the pros and cons from my perspective and a few friends of mine, all of which have purchased a home. Take a good look at the con section and it may easy your frustrations with searching that 10 pound document  the next time you have a question about your mortgage.

Pros:(of receiving digital version of mortgage)

1. You eliminate the bulk because, who really has a prime location for a hefty legal sized booklet.
2. Ease in searching for key items in mortgage
• With a digital version you can find specific terms with ease instead of having to read through twenty plus pages
3. You can always access it depending on where you store the digital file
4. If you have a question to ask your financial adviser instead of asking your question and then having to locate specifically where you're looking in mortgage, simply send the highlighted portion to adviser with page location.
5. Odds are you will reference the document more than if it was a laborious task to find one simple tidbit of information.

Cons:

1. Digital Documents will have less legal baring than a signed paper copy.
• Digital Versions have possibility to be altered and therefore a physical copy will always be considered more binding contract than a digital version.
• Digital signatures have a lesser weight in contracts 
2. Not everyone has access to computers so if digital was the only form presented to the borrower referencing the document becomes difficult
3. The simplicity of tradition, it has been done in this fashion for so long lending parties are less motivated to change and adapt to borrowers request of digital versions.

In closing my perspective is to ask for a digital copy as well as physical copy when signing a mortgage.  This gives you the assurance of legality and ease of use.