Washington Code 31.04.520 – Right to rescind transaction
Current as of: 2023 | Check for updates
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The borrower in a proprietary reverse mortgage transaction has the same right to rescind the transaction as provided in the truth in lending act, Regulation Z, 12 C.F.R. part 1026.
Terms Used In Washington Code 31.04.520
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC