Finance
The Truth in Lending Act (TILA) right of rescission allows a borrower to cancel a refinance mortgage on their primary residence within:
A24 hours
B3 business days✓ Correct
C5 business days
D10 calendar days
Explanation
TILA provides a 3-business-day right of rescission for refinancing (or taking a new mortgage) on a primary residence. Purchase money mortgages do not have this rescission right.
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