Contracts
In NH, a buyer's 'right of rescission' under TILA (Truth in Lending Act) applies to:
AAll real estate purchase contracts
BRefinances and home equity loans secured by a primary residence, not purchase money mortgages✓ Correct
COnly adjustable-rate mortgage transactions
DAll first mortgage transactions
Explanation
TILA's 3-day right of rescission applies to refinances and certain home equity loans secured by the borrower's principal residence—not to purchase money first mortgages. The right allows borrowers to cancel the loan within 3 business days of closing without penalty.
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