FORUM PROFILE

Question on the 3 day right of recission

Home Forums Truth in Lending/ Regulation Z Question on the 3 day right of recission

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #16339
    dcsluder1
    Participant

    We have a client who owns land and a house there. Currently they are living in the house as their primary residence. They intend to bull doze the house that is there and build a new house. In the mean time they have rental property they will live in. Would this transaction need a right of rescission since there will not be a house on the property?

    #16369
    rcooper
    Keymaster

    Since their current primary residence is the house securing the loan I would say right of rescission would apply.

Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.