Randy Carey
The wife should have been given the right of rescission when the loan first closed if it was her primary residence.
Jim Bedsole
Randy, would that be the case if she didn't/doesn't have an ownership interest in the property? If she doesn't have an ownership interest in the property, I think she would not have had any rescission right at closing nor would she have a rescission right at modification either.
Randy Carey
My point was that if she had a right of rescission, she would have had it at origination and not at the time of adding her name to the loan. But yes, having an interest in the property at origination would have been a consideration along with any State law requirements.