Finance
Under Regulation Z (Truth in Lending Act), the 'right of rescission' allows a borrower to cancel:
AAny mortgage within 3 business days of application
BA refinance or home equity loan on their primary residence within 3 business days of consummation✓ Correct
CA purchase money first mortgage within 30 days
DAny mortgage if the APR changes after disclosure
Explanation
The right of rescission under TILA (Regulation Z) allows borrowers to cancel a non-purchase money mortgage (such as a refinance, home equity loan, or HELOC) on their principal dwelling within 3 business days of consummation or delivery of required disclosures.
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