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What is the rescission period?

Edison

20-09-2007 10:18

Messages: 17
Country: USA
City: Boise

What is the rescission period? I want to know about rescission period.

Re: What is the rescission period?

maxwell

23-09-2007 06:46

Messages: 21
Country: USA
City: new jersey

The rescission period is a waiting period of 3 days (excluding Sundays and legal holidays), between signing your loan papers and closing your loan. This period permits you to reconsider, and perhaps void the transaction, and is required by federal law for all owner-occupied refinances.

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