Comments on: TILA Mortgage Rescission – How to Stop a Foreclosure

By: Xbox Kinect Games

Xbox Kinect Games — Fri, 02 Jul 2010 05:33:36 +0000

Thanks for this list… i found exactly what i needed….

By: Real Estate Broker

Real Estate Broker — Mon, 12 Apr 2010 20:48:44 +0000

In Georgia, who can I contact for assistance with a motgage recission?

By: lanehouk

lanehouk — Fri, 20 Nov 2009 01:01:18 +0000

To rescind this loan you will have to use your state statutes to bring a claim for rescission. You only have three years from the date of consummation under the Truth in Lending Act to rescind for material disclosure violations. The three years is a hard and fast date. No wiggle room on that. Fraud in the inducement or something similar, if it can be proven, may be a viable option to rescind or cancel the loan. This is a question for a good litigating contract attorney.

By: lanehouk

lanehouk — Fri, 20 Nov 2009 00:54:26 +0000

Jen – the July 20, 2006 date is the only date that can be used for calculating the various statutes of limitations (SOL) as it applies to the Truth in Lending Act. The act uses the "date of consummation" as the date for calculating SOL issues. Any TIL violations you or an auditor that is hired to audit your loan file can be used as "claims in defense by recoupment" as there is no SOL for violations used as Claims in Defense by Recoupment. I have a blog post or two on this specific issue. Please feel free to post more questions if you have some. Thanks, Lane Houk.

By: Alfred2

Alfred2 — Mon, 12 Oct 2009 16:02:11 +0000

What is the time limit to rescind a loan when fraud has been committed by the lender? A loan was taken out in 2000 and we never received a copy of the TILA (Disclosure Form) in 2007 we requested copies of the loan and received a copy of the TILA (Disclosure Form). The finance charge and interests rate and amount of the loan are different from the amounts on the paperwork we did receive. Also the signatures on the TILA are clear forgeries. For two years we have been trying to get straight answers from the lender without success. I wonder, because of the circumstances, I could file to have the loan rescinded.

By: Diana

Diana — Thu, 13 Aug 2009 17:57:53 +0000

Who, exactly should I serve the notice of recession on? Must it be the registered agent of the corporation, that you serve with lawsuits? Or the loan department of the bank that gave you the refi? I served my lender in January, 2009 and I was ignored. So I filed a lawsuit against them. I restated my rescission in the lawsuit but I have never been acknowledged by the lender. In fact it was National City Mortgage/ National Vity Bank and I just learned that they were taken over by PNC on Dec. 31, 2008. Their lawyers never divulged that the company no longer exists. Any good advice for me, please?

By: Carlos

Carlos — Tue, 04 Aug 2009 14:36:20 +0000

Alfonso,
YOU HAVE THE BEST DEFENSE IN THE WORLD. GOOGLE \’NOTICE OF RESCISSION\’ AND START TO READ.

yOU HAVE TO GET OFF YOUR BUTT. NOBODY IS GOING TO GIVE YOU A HOUSE. UNLESS OF COURSE YOU UNDERSTAND THE POWER YOU HAVE WHEN YOU RESCIND YOUR LOAN.

By: Steve

Steve — Tue, 28 Jul 2009 10:18:59 +0000

After reviewing my loan documents, I sent a Notice to Rescind to the present mortgage holder. They simply sent back a letter stating i am not eligible to rescind. I am presently in Foreclosure and I raised the defense that the mortgage was cancelled due to rescission. It has been 5 months since i sent my notice to rescind and 4 months since i filed my foreclosure defenses. My quesiton is, what were they required to do once they received my notice to rescind. Is their form letter sufficient to negate the right to rescind? It has been 5 months do I still have to prove TILA violations?

By: mari

mari — Mon, 13 Jul 2009 19:45:10 +0000

Thank you, I have a question for rescission extension period, if your 3 years is just about over, and if you are allowed California’ Bill ABX2 7 which give an add’l 90 days to the borrower beyond the 3 months of the NOD period
can we have the right to rescind extend beyond its 3 year time. We are waiting for answers from our QWR to lender and as they have 60 business days to respond to that it will go beyond our notice of default 3 months period and we would be in danger of the filing of the notice of sale, right?

question 2
is a Notice on Non Compliance an appropriate paper to record to deny lenders due diligence?

do you use a software program only for your forensic audits? any details on what you include in the audit? is there a website where i can see more?

are you an attorney?

oh yeah in reg Z is says the rescission period shall be extended in accordance with section 125(f) of the Act. where can i find that info please. thanks in advance for any info you can provide.

By: Marvis Rodgers

Marvis Rodgers — Fri, 03 Jul 2009 23:28:33 +0000

We meet all of the above criteria.The origination and the refinance were fraudulant by the same originator.I attempted to have an audit done but did not have the fees to pay him.He gave me a partial audit free but since I do not have this data in writing,I can not take it to court.I am still within the statue of limitation.How much is your audit

By: admin

admin — Sun, 28 Jun 2009 14:12:35 +0000

Your statutory right to rescind expires at 3 years. You can still use the violations as claims in defense by recoupment.

By: Bill

Bill — Sun, 28 Jun 2009 05:23:29 +0000

What if the loan was closed 4 years ago, but otherwise fits your description. No go? Won’t work?