If a lender makes a mistake in the disclosure of the APR on a loan, there is a 30-day right of rescission for the home buyer.

Name: If a lender makes a mistake in the disclosure of the APR on a loan, there is a 30-day right of rescission for the home buyer.
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Question

Quizplus · Accepted Answer

The right of rescission typically applies for three days after the transaction for certain types of home equity loans or refinancing with a new lender, not for mistakes in the APR disclosure.

If a Lender Makes a Mistake in the Disclosure of the APR