Finance
Vermont borrowers have a 3-day right of rescission under TILA for which type of loan?
APurchase money mortgages for primary residences
BRefinance loans secured by a primary residence✓ Correct
CCommercial real estate loans
DVA and FHA purchase loans
Explanation
The right of rescission under TILA (Truth in Lending Act) applies to refinance loans and home equity loans secured by a borrower's primary residence. It does NOT apply to purchase money mortgages.
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