The Truth in Lending Act (TILA) gives home loan borrowers a three-day right to rescind, or cancel, a loan transaction. For these first three days, this right is unconditional, without any caveats. After the three days run out, there is a catch; the borrower has the right to rescind only if the lender has failed to satisfy TILA’s disclosure requirements. Even if the required disclosures are never made, the right of rescission will expire after three years; thus, straying from the pack.
Will botched paperwork affect the outcome of foreclosure appeals? It depends on the judges.
The decisions in three cases came down to paperwork and procedure Wednesday before the Fourth District Court of Appeal. Continue reading
A heartfelt Happy New Year to you from Oppenheim Law, “In the Trenches” featuring Roy Oppenheim. A prognostication on the Florida 5 Year Statute of Limitations and why we are waiting on the Florida Supreme Court to sort out the real estate mess.
Massachusetts’ Senator Elizabeth Warren gave a series of resounding speeches in opposition to a recent provision passed in the 2015 federal budget “Cromnibus” spending bill. The contested provision weakened the Dodd-Frank law, thereby allowing big banks like CitiGroup to gamble on risky investments with taxpayers’ money. Such a provision is not unique to the 2015 “Cromnibus” spending bill, in fact it’s identical to those “Too Big to Fail” provisions which lead to the 2008 financial crisis.