Legal Question in Real Estate Law in Florida

Re: mortgages

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

The Three Day Right of Recission is a federally mandated right for the borrower to back out of a refinance of a residential mortgage without any obligation. As a result, if you change your mind, you should not have any obligation to anyone.

Please remember that you must give the notice as required on the recission form no later than midnight of the third day to the lender and not the title company or closing agent.

Scott R. Jay, Esq., 305-249-8000