Finance
In New Mexico, the 'three-day right of rescission' under TILA does NOT apply to:
AA cash-out refinance on a primary home
BA home equity loan
CA purchase money loan for a new primary residence✓ Correct
DA second mortgage on a primary residence
Explanation
TILA's 3-day right of rescission does not apply to initial purchase money mortgages—only to refinances and home equity loans on a primary residence.
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