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Home / Courts / 4th Circuit / Real Property – Consumer Protection – TILA Rescission Right – ‘Notice’ (access required)

Real Property – Consumer Protection – TILA Rescission Right – ‘Notice’ (access required)

Gilbert v. Residential Funding LLC A homeowner may exercise a right to rescind a mortgage transaction under the Truth in Lending Act by notifying the creditor within the three-year period; the owner is not required to file a lawsuit within the three-year window to exercise the rescission right, and the 4th Circuit reverses a contrary district court decision on a question of law that has split federal appeals courts.

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