Finance
In Louisiana, the 'right of rescission' under TILA allows a borrower to cancel a refinance mortgage on their primary residence within:
A24 hours of signing
B3 business days of signing or receiving required disclosures, whichever is later✓ Correct
C7 calendar days of signing
D30 days if they change their mind
Explanation
TILA's right of rescission (Regulation Z) gives homeowners the right to cancel a refinance loan on their primary residence within 3 business days of signing the loan documents or receiving the required TILA disclosures — whichever occurs later. This does not apply to purchase mortgages.
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