Right of Rescission: Review and Update
Regulation Z contains a long list of complex and confusing provisions. The rules related to the consumer's right to rescind a mortgage transaction are near the head of the list. Few topics generate more litigation or more questions. All of the rules, from providing the notice of rescission to undoing transactions that the borrower has rescinded, are covered. The program explains what transactions are subject to the right to rescind, who has the right to rescind, how to handle rescission, and how to fix problems when they occur. The program and the program materials are updated to include recent revisions to rescission tolerances.