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. None For example, you do not have the right of rescission when: Your loan is used to purchase or build ...
My lender or broker never provided me with the notice of a right to rescind for a mortgage loan. What can I do?
If you never received the Truth-in-Lending disclosure or the Notice of Right to Rescind from the lender and you were entitled to receive one, you may still be able to rescind your mortgage loan. None However, this must happen during ...
Can I ever waive my right to rescind on my mortgage loan?
Yes. You can waive your right of rescission (your right to cancel your transaction within three business days for your refinance or home equity line of credit). None If you have a "bona fide personal financial emergency.” However, if you ...
When do I get a Closing Disclosure?
By law, you must receive your Closing Disclosure at least three business days before your closing. None Read your Closing Disclosure carefully. It tells you how much you will pay for your loan. Our interactive sample Closing Disclosure helps you ...
What is a HUD-1 Settlement Statement?
The HUD-1 Settlement Statement is a document that lists all charges and credits to the buyer and to the seller in a real estate settlement, or all the charges in a mortgage refinance. None If you applied for a mortgage ...
What are prepaid interest charges?
Prepaid interest charges are charges due at closing for any daily interest that accrues on your loan between the date you close on your mortgage loan and the period covered by your first monthly mortgage payment. None This amount is ...
What is an initial escrow deposit?
An initial escrow deposit is the amount that you will pay at closing to start your escrow account, if required by your lender. None This initial amount may be different from what you pay monthly to maintain the escrow account. ...