A borrower has a right to rescind a mortgage within three business days.

Name: A borrower has a right to rescind a mortgage within three business days.
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According to the Truth in Lending Act, borrowers have the right to rescind a mortgage within three business days of closing the loan. This means they can cancel the loan agreement and receive a full refund of any fees paid. This right to rescind applies to most types of mortgages used to purchase or refinance a principal dwelling.

A Borrower Has a Right to Rescind a Mortgage Within