Luật vay thế chấp liên bangCâu 8 / 400
In a refinance of a primary residence with a new lender, when does the borrower's right of rescission under TILA generally expire?
a.Midnight of the third business day after the latest of consummation, delivery of the notice of the right to rescind, or delivery of material TILA disclosures
b.Immediately upon signing the note
c.Seven business days after closing
d.Thirty days after the first payment is due
Giải thích
TILA gives a 3-business-day right of rescission on refinances secured by the borrower's principal dwelling; the clock runs from the latest of consummation, delivery of the rescission notice, or delivery of material disclosures. Purchase-money loans have no rescission right. Seven days and thirty days are not the rescission period.
Trích dẫn luật: TILA / Regulation ZLuyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
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