Are there situations where I would not have a right of rescission?
- Listed: August 13, 2022 3:18 pm
- Expires: This ad has expired
Description
Are there situations where I would not have a right of rescission?
The right of rescission does not apply in every case where your home is used as collateral for the loan.
For example, you do not have the right of rescission when:
- Your loan is used to purchase or build your principal home
- You consolidate or refinance with the same creditor a loan that is already secured by your home, and no additional funds are borrowed
- A state agency is the creditor for the loan
326 total views, 1 today
Listing ID: 38862f7c09f0b742
- Listed by: Editor
- Member Since: July 24, 2018
Other items listed by Editor
- I got a letter from my mortgage servicer about my application for help to prevent foreclosure of my mortgage. Can you help me understand some of the terms?
- What is a Qualified Mortgage?
- Total interest percentage (TIP)
- Buy rate
- FAFSA®