Posted By: Cheli
Right of Rescission- New Advance - 10/24/13 02:16 PM
Hello-
I have a loan officer working on a loan in which the new advance is rescindable only. Is there a different right of rescission that is used for this transaction? I have searched and it is leading me to believe there is not- I would have thought perhaps there was a different model we would use to show the consumer what portion of their loan is rescindable. Any expert advice is greatly appreciated!
Thank you-
I have a loan officer working on a loan in which the new advance is rescindable only. Is there a different right of rescission that is used for this transaction? I have searched and it is leading me to believe there is not- I would have thought perhaps there was a different model we would use to show the consumer what portion of their loan is rescindable. Any expert advice is greatly appreciated!
Thank you-