• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Right to recind

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

D

Dkoluch

Guest
I live in Michigan and I just closed on a refinance loan. I signed the paperwork on 5/9 and was told that I have until 5/14 to recind. After looking it over I decided I wanted to cancel my loan. The paperwork provided said I had until midnight of 5/13 or 3 business days to recind. I signed the right to recind and faxed it back the night of 5/14. I feel that I was misled to believe that I had 1 more day to recind. Am I legally bound to this loan? What can I do to get out of it?
 


HomeGuru

Senior Member
Dkoluch said:
I live in Michigan and I just closed on a refinance loan. I signed the paperwork on 5/9 and was told that I have until 5/14 to recind. After looking it over I decided I wanted to cancel my loan. The paperwork provided said I had until midnight of 5/13 or 3 business days to recind. I signed the right to recind and faxed it back the night of 5/14. I feel that I was misled to believe that I had 1 more day to recind. Am I legally bound to this loan? What can I do to get out of it?
**A: what happened to your first post, the other one before this one?
 

HomeGuru

Senior Member
Dkoluch said:
I live in Michigan and I just closed on a refinance loan. I signed the paperwork on 5/9 and was told that I have until 5/14 to recind. After looking it over I decided I wanted to cancel my loan. The paperwork provided said I had until midnight of 5/13 or 3 business days to recind. I signed the right to recind and faxed it back the night of 5/14.
**A: you signed agreeing to the dates. You faxed back your cancellation notice a day too late. Sundays do not count but Saturdays do.
*********
I feel that I was misled to believe that I had 1 more day to recind. Am I legally bound to this loan? What can I do to get out of it?
**A: you answered your own question. Explain to me how you were mislead when you signed the agreement since it did state in black and white midnight 5/13.
 
Last edited:

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top