Fact Pattern
Northeast Bank makes mortgage loans to consumers,including Mai,to buy homes.
-Refer to Fact Pattern 16-1B.For Mai's loan,Northeast provides all required disclosures.Mai has a right to rescind the mortgage

Question

Fact Pattern 
Northeast Bank makes mortgage loans to consumers,including Mai,to buy homes.
-Refer to Fact Pattern 16-1B.For Mai's loan,Northeast provides all required disclosures.Mai has a right to rescind the mortgage

Quizplus · Accepted Answer

According to the Truth in Lending Act (TILA), Mai has the right to rescind the mortgage within three business days after receiving all required disclosures from Northeast Bank. This is known as the right of rescission.

Fact Pattern Northeast Bank Makes Mortgage Loans to Consumers,including Mai,to Buy Homes