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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?

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  • 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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