Section 226.23 Right of rescission.
4. Special rule for principal dwelling. When the consumer is acquiring or constructing a new principal dwelling, any loan secured by the equity in the consumer’s current principal dwelling (for example, a bridge loan) is still subject to the right of rescission regardless of the purpose of that loan.
First published on BankersOnline.com 10/21/02
Bridge Loans & Rescission
First published on 10/21/2002