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#1753496 - 10/30/12 05:52 PM Right of Recision
Spartan Fan Offline
Junior Member
Joined: Mar 2010
Posts: 35
Is there a minimum amount of cash a customer can receive from a loan transaction when Right of Recision does not apply? For example, if the amount was $100 or less?

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Lending Compliance
#1753509 - 10/30/12 06:08 PM Re: Right of Recision Spartan Fan
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,656
The Swamp
If the loan involves more than covering payoff plus closing related fees, then ROR applies.
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My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

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#1753547 - 10/30/12 07:21 PM Re: Right of Recision Spartan Fan
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
Originally Posted By: Spartan Fan
Is there a minimum amount of cash a customer can receive from a loan transaction when Right of Recision does not apply? For example, if the amount was $100 or less?


This discussion should help.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#1753562 - 10/30/12 07:37 PM Re: Right of Recision Dan Persfull
Spartan Fan Offline
Junior Member
Joined: Mar 2010
Posts: 35
Thank you, Dan. That discussion was very helpful.

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