Indiana Code 24-5.5-4-1. Homeowner’s right to rescind foreclosure consultant contract and foreclosure reconveyance agreement; timing
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Sec. 1. In addition to any other right under law to cancel or rescind a contract, a homeowner may rescind a:
(2) foreclosure reconveyance agreement at any time before midnight of the seventh business day after the homeowner’s transfer of the interest in the real property that is the subject of the agreement, as described in IC 24-5.5-2-4(1).
(1) contract with a foreclosure consultant at any time before midnight of the seventh business day after the date the contract is signed; and
Terms Used In Indiana Code 24-5.5-4-1
- Contract: A legal written agreement that becomes binding when signed.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
As added by P.L.209-2007, SEC.2.