- 1). Figure out what type of mortgage you have. Not all mortgage loans can be rescinded. Refinances with your current lending institution and loans for vacation homes or rental properties may not carry the right to rescind. Call your loan provider to ensure your loan can be rescinded.
- 2). Find the appropriate form in your mortgage loan paperwork. The form you need is called a Notice of Rescission. It will be contained in your loan documents. Note that each person who is on the actual mortgage will have their own separate form.
- 3). Determine how many days it has been since you received your loan documents. You will have just three business days to rescind your mortgage loan. Be sure you understand that Saturday can be counted as a business day, but not Sunday.
- 4). Obtain the signatures of each person on the mortgage. If you have more than one person included on the loan, have each party sign her name on the Notice of Rescission. Include the date that the form was completed, and make sure each person has signed in the correct place.
- 5). Get the Notice of Rescission to your lender within the three-day rescission period. If you are located near your lender, take the form to the lender. However, if your bank is not in the area, fax the form to the lender and call them directly to ensure they have received it.
SHARE
