Contracts
Pennsylvania's 3-day right of rescission under TILA (Truth in Lending Act) applies to:
AAll real estate purchases
BRefinances and home equity loans on a primary residence — not purchase money mortgages✓ Correct
COnly FHA and VA loans
DAny loan over $100,000
Explanation
The federal TILA 3-day right of rescission applies to refinance transactions and home equity loans/lines of credit on a primary residence. It does NOT apply to purchase money mortgages.
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