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RIGHT OF RESCISSION

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  • March 27, 2012 at 1:09 pm EDT #2506
    gburton
    Member

    We are closing a purchase loan for a customer and on the same day giving them a HELOC loan on the same property being purchased. This will be their principal dwelling but they currently do not live there. Will there be rescission on the HELOC?

    March 27, 2012 at 5:56 pm EDT #2752
    Anonymous
    Inactive

    From the official interpretations of 1026.15 (#6). It looks as if you’d need the ROR for the Equity loan.

    March 29, 2012 at 1:20 am EDT #2749
    jholzknecht
    Keymaster

    Thanks for helping with the answers. I like your replies – brief and accurate.

    March 29, 2012 at 6:01 pm EDT #2751
    Anonymous
    Inactive

    Thanks! 😎

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