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#1963904 - 09/23/14 03:32 PM Right to cancel and Homestead
MyScamper Offline
Gold Star
Joined: May 2006
Posts: 452
Between here and there
Primary residence is titled in husband's name only. He is the borrower. Wife is neither owner or borrower. She signs mortgage to waive homestead rights. Is there anything in IL law that requires her to also receive the right to cancel and TIL because of homestead rights?

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#1965519 - 09/29/14 08:32 PM Re: Right to cancel and Homestead MyScamper
MyBrainHurts Offline
Platinum Poster
Joined: Feb 2010
Posts: 960
Illinois
Right to cancel and the TIL are from the CFPB Reg Z. There is no mention of them in the Illinois law regarding homestead rights. You can read through it pretty quickly at 735 ILCS 5/12 901 et al.


http://www.ilga.gov/legislation/ilcs/ilcs4.asp?DocName=073500050HArt%2E+XII+Pt%2E+9&ActID=2017&ChapterID=56&SeqStart=97100000&SeqEnd=98500000

edit: Sorry, that long link didn't seem to work out right, but just google 735 ILCS 5/12 901.
Last edited by MyBrainHurts; 09/29/14 08:35 PM.
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