Right to Rescind: Cancelling Home Credit

Homeowners can rescind certain loans within **3** business days without penalty under TILA.
Applies to home equity loans, HELOCs, and mortgage refinances with a new lender using your principal residence as collateral.
Cancellation period starts after contract signing, TILA disclosures, and rescission notice are received; excludes Sundays and holidays.
If disclosures are missing or incorrect, rescission right may extend up to **3** years.
To cancel, written notice is required; in emergencies, right can be waived with a signed statement.