Finance
In Kansas, the 'right of rescission' under the Truth in Lending Act allows a borrower to cancel a refinance transaction within:
A24 hours of signing
B3 business days of consummation, receipt of the note, or receipt of the required disclosures✓ Correct
C7 days for any reason
DNo rescission right for mortgage loans
Explanation
TILA gives borrowers a 3-business-day right of rescission for refinances and home equity loans on their primary residence. Purchase money mortgages are not subject to this right.
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