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DID YOU RESCIND?
ASK QUESTIONS TONIGHT!
What Happens When You Send a Notice of Rescission NOW?
In a posting by what appears to be a bank lawyer for benefit of his clients he makes it clear that the banks should be worried prospectively about the right to rescind and the manner in which the Bank can contest it. Referring to Justice Scalia’s opinion for a unanimous Supreme Court the writer says
The Court decided that the language of the statute makes clear that written notice alone is sufficient to fulfill the terms of the statute. The Court rejected Countrywide’s argument that there was a legitimate dispute over the adequacy of the disclosures that required the borrower to file suit to settle.
What the writer did NOT say is what…
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