i recenly applied for a home equity loan and i was excepted but it was a big ordeal took to long now i have a closing date but i have to wait 4 days ressesion after sighning its the law i know but dont i have rights cant i waive that sign waiving it so i can get money at close or day after theyve already strung me along since febuary theres got to be a way of getting out of that ressesion period does anyone know?
2007-03-28 00:24:46 · 3 answers · asked by wh1te_diamond06 1 in Business & Finance ➔ Renting & Real Estate
It is typical, they aren't making it up.
2007-03-28 00:32:16 · answer #1 · answered by Jo 6 · 0⤊ 0⤋
The rescission period is federal law.
It doesn't apply if it's not your primary residence.
I've never seen a case where it was able to be waived. I guess it's possible if there's a sheriff's sale about to take place putting your home in full foreclosure, but even that would take an act of God to make happen.
10 years, never seen it get bypassed, not with my clients or anyone else I've ever heard of. Sorry.
2007-03-28 15:50:54 · answer #2 · answered by Yanswersmonitorsarenazis 5 · 0⤊ 0⤋
Good Lord, punctuate your sentences. And yes, the recission period is the law. You can't get around it. It's designed for your protection.
2007-03-28 08:41:46 · answer #3 · answered by togashiyokuni2001 6 · 0⤊ 0⤋