Anyone have suggestions on how to handle delivery of disclosures (preliminary, final, notice of right to cancel) to a Land Trust. Trust is saying they won't sign. Trying to comply with Laser Pro suggestion based on recent litigation - I am parroting (June Release Notes) that anyone involved Borrower, Beneficiary, Land Trust Trustee should get all disclosures.
Ex. HELOC send preliminary disclosure copy, notice of rights to cancel, and credit agreement/disclosure copy along with Letter of Direction? Can we put that we require they sign the Notice of Right to cancel, they are saying they won't. Would a written statement to that fact be sufficient? Looking for opinions
Specific to ILLLINOIS Land Trusts ONLY informational links below.
http://www.lexology.com/library/detail.aspx?g=961bb7d6-f46e-4d2a-8167-d3c1a9620af0http://www.schiffhardin.com/insights/pub...re-requirements