The Close step is the date you will sign and execute your new loan documents.
Depending on the location of the property or type of transaction, the three business days right of rescission period may apply before your funds are available to you.
The three business days right of rescission period states that in certain real estate secured transactions that involve the refinance of a primary residence, the Truth in Lending Act allows applicants 3 business days to cancel the transaction and prohibits lenders from disbursing proceeds until after the rescission period has lapsed.
The Close step is the date you will sign and execute your new loan documents.
Depending on the location of the property or type of transaction, the three business days right of rescission period may apply before your funds are available to you.
The three business days right of rescission period states that in certain real estate secured transactions that involve the refinance of a primary residence, the Truth in Lending Act allows applicants 3 business days to cancel the transaction and prohibits lenders from disbursing proceeds until after the rescission period has lapsed.
