What is a Notice of rescission of acceleration of loan maturity?

Answer 1

A "Notice of Rescission" is the right of an individual involved within a contract to return to the identical state as before they entered into the agreement, due to courts not recognizing the contract as legally binding.

Therefor, a "Notice of Rescission of Acceleration" would be a case where the interested party (presumably a mortgage company or lender) has ceased pursuing another entity or individual regarding payment acceleration for reasons which could be complicated in a court or in an effort to avoid going to court. An example, a lender provides a home owner with a mortgage and the homeowner, after a few years, can no longer pay the full amount on a monthly basis. The mortgage company pursues acceleration of the loan while the homeowner pursues getting the mortgage restructured. Restructuring gets finalized before the foreclosure is complete, so it becomes in the best interest of the mortgage company to rescind the matter of foreclosure through a "Rescission of Acceleration" and allow the homeowner to continue payment on the mortgage at the reduced interest rate.