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#413812 - 08/25/05 02:23 PM Right to Rescind
Texas Boy Offline
Diamond Poster
Joined: May 2005
Posts: 1,717
This is probably a stupid question but I must admit I am a little confused! Here's the scenario: A borrower plans to purchase a mobile home and affix it to their land. We are only financing the purchase of the mobile home. The land is owned free and clear by the borrower. Would right of rescission still apply? I think we are confusing the land as being part of his principal residence but to me that should not be the case since the borrower does not own the mobile home. I probably answered my own stupid question but could I please get some verification. Thanks!
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Lending Compliance
#413813 - 08/25/05 02:28 PM Re: Right to Rescind
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,530
Bloomington, IN
ROR does not apply.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#413814 - 08/25/05 02:43 PM Re: Right to Rescind
Texas Boy Offline
Diamond Poster
Joined: May 2005
Posts: 1,717
Dan, If I am ever up in Indiana I'm going to take you out and buy you lunch. Thanks for the help again.
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[i] Just keep Livin -Matthew McConaughey[i]

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