Finance
Under the Right of Rescission rule (TILA), a borrower has a 3-day right to cancel a:
APurchase money mortgage on a new home purchase
BRefinance of a primary residence or a non-purchase home equity loan✓ Correct
CConstruction loan for a new home
DAny real estate secured loan
Explanation
TILA's 3-day right of rescission applies to refinances of primary residences and non-purchase home equity loans. It does NOT apply to purchase money mortgages (loans used to buy a primary home).
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