Legal Insight: Book Review of Get a Second Opinion Before You Sign by Shane St. Reynolds

In a landscape where financial agreements often veer into murky waters, Shane Reynolds’ Get a Second Opinion Before You Sign emerges as a beacon for consumers navigating the treacherous terrain of mortgage and loan agreements. The book, which first hit the shelves in 2017, is bolstered by a compelling foreword from legal eagle Jason J. Murakami, LLB, an esteemed Adjunct Professor of Law and Executive Founding Member of the Griffith University Innocence Project.

Murakami’s foreword sets the tone for St Reynolds’ work, highlighting the immense courage it takes to challenge the status quo of Australia’s $340 billion mortgage industry. "It takes a lot of courage for an individual to stand up and say 'this is not right'," Murakami writes, emphasising the risks St Reynolds took in exposing the industry's inner workings. This bold stance is particularly significant given the industry's penchant for maintaining opaque practices that often favour lenders over borrowers.

St Reynolds, drawing from his extensive experience in the finance sector, pulls back the curtain on the realities of mortgage lending. Murakami, with over two decades of legal experience, including stints at Minter Ellison Lawyers and prominent boutique litigation firms, lends a critical perspective on the book’s revelations. According to Murakami, the book reveals how the finance industry operates as an “unequal joint venture,” where the scales are heavily tipped in favour of lenders.

Murakami’s endorsement underscores a key theme of St Reynolds' book: the predatory practices that are often disguised under the guise of legitimate financial services. The foreword sheds light on how these tactics are not confined to second and third-tier lenders, but are also prevalent among the major institutions that many consumers are led to believe are their trusted allies.

Get a Second Opinion Before You Sign is not just a critique of industry practices; it serves as a practical guide for consumers. Murakami commends St Reynolds for creating a resource that is both accessible and informative. The book provides clear advice for borrowers, whether they are first-time homebuyers, investors, business owners, or farmers, offering strategies to safeguard against the pitfalls of predatory lending.

Murakami concludes his foreword with a strong recommendation for both legal professionals and consumers to read Get a Second Opinion Before You Sign. His praise adds weight to the book's value as an essential tool for anyone entering into financial agreements.

In sum, Shane’s book Get a Second Opinion Before You Sign is a crucial read for those seeking to navigate the complexities of the finance industry with greater awareness and caution. With Murakami’s foreword setting a powerful precedent, the book stands as both a critical exposé and a practical guide, challenging the conventions of an industry often shrouded in secrecy.