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#1114960 - 01/22/09 03:27 PM Right of Rescission
Cale_N_Oats Offline
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Cale_N_Oats
Joined: Aug 2008
Posts: 742
Southern Illinois
If we refinance a residential construction loan for $54,000 to a 5/1 ARM for 141,000, isnt the money added to the loan rescindable?
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Lending Compliance
#1114975 - 01/22/09 03:38 PM Re: Right of Rescission Cale_N_Oats
swiggles Offline
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swiggles
Joined: Aug 2001
Posts: 7,351
........wouldn't be able to do such a thing here in Texas............
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#1115066 - 01/22/09 04:41 PM Re: Right of Rescission Cale_N_Oats
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
Read the Commentary to 226.2(a)(24)(6).
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#1115127 - 01/22/09 05:25 PM Re: Right of Rescission Dan Persfull
Cale_N_Oats Offline
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Cale_N_Oats
Joined: Aug 2008
Posts: 742
Southern Illinois
So that means it is a rescindable loan?
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