Our primary academic resources teachs you & all consumer advocates the following objectives:
- STOP FORECLOSURES
- Rescission is a complete defense to a Foreclosure
- Learn to Perform Forensic TILA Audits
- Accurate Assessment of TILA Disclosures
- Determination of Substantive Rescission Rights
- Enforcement Strategies Terminating Predatory, Over-Reaching, Oppressive & Abusive Lending Practices
- Rescission by recoupment rights do not
depend upon the happenstance of whether the consumer lives in a judicial or non-judicial foreclosure state
- Utilize RESPA as an effective tool against incompetent and recalcitrant Mortgage Servicers
You are entitled to "Material" disclosures. A failure to provide you accurate and proper "Material" disclosures entitles you, the homeowner, to rescind or cancel a mortgage transaction up to three-years (3).
Truth-in-Lending Rescission Rights arise automatically only when the transaction meets all of the following criteria:
15 U.S.C. § 1635; Reg. Z § 226.23
It is a consumer credit transaction
In which a non-purchase money lien or security interest is or will be placed
On the consumer's principal dwelling
Any credit transaction involving a home, other than the transaction for its original purchase, that is less than three-years (3) old must be examined for Truth-in-Lending violations.
If the original transaction for the purchase of your home has been replaced by refinancing or loan consolidation of the original mortgage loan by itself or with pay-off of other debt, the transaction is non-purchase money and rescindable.