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The three-day right of rescission rule applies to all loans covered under the federal Truth in Lending Act. This is a federal law that applies to loans in all 50 states that fall under the guidelines set in the act. The majority of types of typical loans that homeowners take out on residential properties will be covered by the TILA, and have a three-day right or rescission, including loans in Michigan.
What else can I help you with?
Does the 3 day right of rescission rule apply to car loans in Minnesota?
no
Does the 3 day right of rescission rule apply to construction loans?
Generally no. The Truth in Lending Act allows a right of rescission on equity lines of credit and refinances. You can read more about it at the link below.
Is there a 3 day right of rescission to Arizona tenants?
Not unless it so states in the rental contract.
Do we need a right of rescission when it is a refinance with no new money?
Yes, a right of rescission is still necessary in a refinance with no new money. This right provides borrowers with a three-day period to reconsider their decision and cancel the loan if they feel it is not in their best interest. It protects consumers from potential predatory lending practices and ensures they fully understand the terms of the refinance, even when no additional funds are involved.
Where can you learn more about a wachovia home equity loan?
You can learn about Wachovia Home Equity loans by calling their headquarters. You can apply online on their website and also check the daily rating right on their homepage.
Does the 3 day right of rescission rule apply to car loans in Minnesota?
no
Does the 3 day right of rescission rule apply to used car loans in Michigan?
No, the three day rule does not apply to auto purchases and certainly not to a pre-owned ones. Customer beware!
Does the 3 day right of rescission rule apply to construction loans?
Generally no. The Truth in Lending Act allows a right of rescission on equity lines of credit and refinances. You can read more about it at the link below.
Does the 3 day right of rescission rule apply to car loans in Indiana?
No, it only applies to unsolicited purchases, not autos.
Does the 3 day right of rescission rule apply to car loans in South Dakota?
No, the buyers remorse law does not apply to the purchase of a new or used vehicle.
Does Ohio have a right of rescission rule for automobile loans?
no
Does New Jersey have a right of rescission rule for used automobile loans?
The right of rescission rule in New Jersey does not apply to used automobile loans. The New Jersey Consumer Fraud Act however does protect consumers for three days to rescind on a health club contract.
What is the law on right of rescission in Michigan?
There is NO right of recission for autos.
Does the 3 day right of rescission apply to purchasing new cars in Michigan?
No, it only applies to unsolicited sales and not to the purchase of a vehicle unless there was fraud or deceit involved. yes it does apply
Is there a 3 day right of rescission on auto loans in the state of Louisiana?
No, Louisiana does not provide a three-day right of rescission for auto loans. The right of rescission typically applies to certain types of loans secured by real estate, but auto loans are not included in this provision. Once an auto loan contract is signed, it is generally binding, and borrowers should carefully review the terms before finalizing the agreement.
Does the 3 day right of rescission rule apply to lot loans?
"You should have three days (not including Saturday, Sunday or a bank holiday) to rescind your loan. Call the title company and find out if it must be in writing. Usually there is a document in the pack of papers they give you that states the dates involved and how to do this." *Correction:* The 3 day right of rescission applies only to Refinancing, Home Equity loans, or 2nd Mortgages of your primary residence. It would not apply to lot loans because lot loans are considered a secondary transaction (not your primary residence). Also, Saturday would count as a rescission day. Sunday, or holidays do not count.
Does the 3 day right of rescission rule appply to car loans in HI?
Nope unless its a door to door sale there is no rescission period in the state of Hawaii.
