3 Year Rescissions for DE Borrowers

[Veronica Corningstone]

Delaware's deputy bank commissioner for consumer affairs this week urged Ameriquest's Delaware borrowers from 2003 until now to review their closing documents. The state is calling for borrowers to look for a notice explaining their right to rescind the transaction under the "Truth In Lending Act." If proper notice was not provided, the commissioner is counseling borrowers that they can cancel the loans, obtaining a refund for interest and other fees paid to the lender.

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