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#35320 - 10/01/02 06:36 PM Right of Rescission - Subordination of HELOC
ccsla Offline
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Joined: May 2002
Posts: 3
We have a first mortgage and a HELOC with the same customer. The customer has come in to refinance the first mortgage as a no cash out and we are going to subordinate the HELOC. Does the subordination of the HELOC trigger the 3 day right of rescission?

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General Discussion
#35321 - 10/01/02 06:38 PM Re: Right of Rescission - Subordination of HELOC
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,530
Bloomington, IN
No, you are not refinancing or modifying the HELOC. The only thing that is changing is your lien position.
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The opinions expressed are mine and they are not to be taken as legal advice.

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