rescission

[elyssa]

What is the name of your state?arizona
I received a rescission letter from my HELOC because they made an error on the federal truth in lending form? Should I accept the rescission offer or just move on?

 

[MortgageGuru]

Did they miscalculate the APR? What was the mistake on it?

 

[elyssa]

The APR was fine, it was the Federal truth in leding disclosure was not in technical compliance with federal disclosure statutes and regulations. The interest rate was not affected at all.

 

[MortgageGuru]

Did they send a new Truth in Lending disclosure? That description is way to vague to know what was different.