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Court Rules Borrowers Can Rescind Mortgages When Lenders Don’t Follow Truth In Lending Law

(Jeff Sorg – OnlineEd) – The US Supreme Court has ruled in favor of homeowners wanting to rescind their mortgage because their lender failed to follow Truth in Lending law. The Court ruled that a borrower exercising his right to rescind under Truth in Lending need only provide written notice to his lender within the 3-year period, not file suit