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Rescission Litigation: 3 days from when? 3 years from when?

Another good blog post from Neil Garfield on the power of rescission and he also includes some great rules that he believes should be followed.

Livinglies's Weblog

For further information please email neilfgarfield@hotmail.com or call 954-495-9867 or 520-405-1688.

This is not a legal opinion on any person’s case. Consult with licensed legal counsel in the jurisdiction in which your property is located.

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This wraps things up for the week, and a reminder that there is no show tonight.

I think the following rules should be applied to the letter of rescission. Remember that Congress explicitly stated that borrowers have the right to effectuate rescission with a mere letter. Congress did not state that the lenders could reject the rescission with a letter. They MUST file a legal action alleging whatever defects they wish to assert. Since the rescission is effective by operation of law it is ONLY through operation of law that the rescission could be vacated.

1. Don’t refer to the date of origination. You don’t know when your liability, if any, arose. You only…

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