Finance
Under Regulation Z (Truth in Lending Act), the right of rescission allows a borrower to cancel:
AAny mortgage within 3 days of application
BA refinance on their primary residence within 3 business days of consummation✓ Correct
CA purchase loan within 7 days of closing
DAny loan within 30 days if rates improve
Explanation
Regulation Z provides a 3-business-day right of rescission for non-purchase refinances on a primary residence. The right does NOT apply to purchase money mortgages or investment properties.
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