Right of rescission
Definition
The right of refinancing borrowers, under the Truth in Lending Act, to cancel the deal at no cost to themselves within 3 days of closing. See Rescinding a Mortgage Refinance.
Related Terms Other terms related to 'Right of rescission' starting with the letter 'R' Retail lender, Refinance, Rate point options, Required cash, Rate point breakeven Browse by Letter » 1 4 A B C D E F G H I J L M N O P Q R S T U V W Y | 