Rescission Q&A: 74% of responders either Rescinded or are thinking about it

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The numbers keep changing but it is clear that rescission is looming on the horizon for people who (1) are or were in foreclosure after rescission was sent or (2) are currently contemplating sending the rescission notice now.

One thing I don’t think I made clear is that it is NOT my opinion that a rescission notice can be sent out under any legal theory if the foreclosure auction already occurred. That is because, in my opinion, there is nothing left to rescind. The sale eliminates the mortgage and the note. And there is an arguable point that a foreclosure judgment might do the same thing. Although I am encouraging people to consider rescission with a knowledgeable attorney who is licensed in the jurisdiction in which the…

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About Here and Now

I rant about issues concerning foreclosure, real estate law and any topic of interest. Normally my day job is Fashion and Costume Design. I like writing and reading interesting subjects.
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