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Real Estate & Mortgage Forum > Mortgage Questions & Answers > Ask anything mortgage (Moderator: Ann) > 

How many business days in loan rescission?

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Author Topic: How many business days in loan rescission?  (Read 567 times)
incomera
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« on: May 15, 2009, 12:30:45 AM »
I want to figure out on how many business days would a loan rescission? Do you know loan rescission? Maybe you know this type of concept.
abuzar345
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« Reply #1 on: January 23, 2010, 10:59:52 PM »
Borrowers have an absolute rescission right for three days following the transaction. This period may be extended for up to three years if certain "material" TILA (Truth in Lending ACT) disclosures were not provided correctly at the time of the credit transaction, or a proper notice of the right to cancel was not given.
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« Reply #2 on: January 25, 2010, 08:13:08 AM »
Three and Sat is counted because the banks are open. 
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