time period

Guest 0.10 Dollars($)

if after closing of the mortgage I cancel the mortgage (rescind) within the 3 day time period, when should I expect the lender to reply back

blue · Posted: Fri Feb 16, 2007 11:47 am Post subject:

Hi Levine,

Welcome to Mortgagefit discussion board.

The lender should return the property or money you have paid within 20 days after receiving your notice of rescission. He should also release the security interest held on your home.

Do let me know if you have any other questions.

Thanks
Blue

Guest 0.10 Dollars($)

Hi Levine,

The money or property (like building materials) you have received should not be returned to the lender until he proves that your house is no longer held as collateral by him. Plus returns all the money you have paid.

Guest 0.10 Dollars($)

Thanks to everyone for their response, but forgive me about my ignorance.. can you tell me how can I be assured that the collateral is actually been released by the lender?

Guest 0.10 Dollars($)

Levine you can ask the lender to show you a release of the lien that he had previously filed with the county clerk's office, by that you will be able to confirm that no lien exists over your property. After that you will have to offer the lender to return the money or any property you had received.

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