Senate Bill 94 – The law has changed, now what?

On October 11, 2009, Governor Schwarzenegger signed into law Senate Bill 94. This law addresses how third parties can accept fees for loan modifications. The bill covers not only loan modification companies, but also attorneys who are hired by homeowners to represent them in [...]

This is the final post in the series on the Truth in Lending right to rescission. Visit National Loan Auditors for more information on forensic loan audits.
Effects of Rescission on Creditor’s Right to Foreclose
Once notice of rescission is given, the lien on the consumer’s home becomes void, taking away the creditor’s foreclosure remedy, and [...]

This is the second post in a 3 part series that will discuss how the Truth in Lending Act address the right of rescission.

Grounds for Extended Rescission

As noted previously, the right to rescind normally lasts 3 days after consummation of the transaction, but can be extended for up to 3 years if the creditor [...]