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#500349 - 02/17/06 02:20 PM Recission?
Piano Man Offline
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Piano Man
Joined: Mar 2004
Posts: 442
Down South
Loan to purchase ex-wife's portion of house, Husband currently does not live there but is on the deed. The husband will live there as soon as the loan closes. Does the rescission apply to the husband?
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Lending Compliance
#500350 - 02/17/06 02:30 PM Re: Rescission?
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,673
Bloomington, IN
I would follow the guidance in 226.2 (a)(24)(5) and require the ROR. More than likely the husband wasn't living there due to the process of the divorce and I think it would be hard to argue it was not his principal residence.
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