Slightly more than a month after the U.S. Supreme Court found that borrowers need only to notify their creditors of their intention to rescind a mortgage within three years, lenders are still trying to figure out just how to respond to a potential flood of rescission requests, attorneys say.
The Supreme Court’s January decision in Jesinoski et al. v. Countrywide Home Loans Inc. et al. said that the Truth In Lending Act gave borrowers the power to rescind their mortgages simply by notifying lenders of their…
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via Lenders Struggle With High Court Rescission Decision – Law360 (subscription service)