How long is the TILA rescission period for a qualifying refinance on a principal residence?

How long is the TILA rescission period for a

Multiple choice — select the best answer

AUntil the loan funds
BSeven business days
CThree business days after the latest of consummation, delivery of the disclosures, or delivery of the notice of right to rescind
DThirty calendar days

✓ Correct answer: C. Three business days after the latest of consummation, delivery of the disclosures, or delivery of the notice of right to rescind The borrower may rescind until midnight of the third business day after the latest of consummation, delivery of the material TILA disclosures, or delivery of the two copies of the rescission notice.

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Topic: Federal Mortgage Law

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How long is the TILA rescission period for a qualifying refinance on a principal residence?

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