Posted by Joy Rogers on 11/9/05 9:01pm
Msg #75538

recission period

If a loan was signed today, would the recission period end on Monday since Friday is a holiday?

Reply by Tina_MA on 11/9/05 9:03pm
Msg #75539

>>If a loan was signed today, would the recission period end on Monday since Friday is a holiday?<<

Yes, that's correct.

Reply by Joy Rogers on 11/9/05 9:05pm
Msg #75540

thanks!

Reply by AngiesMobile on 11/10/05 9:46am
Msg #75603

I agree.... You may want to check with the mortgage company to see if they are open saturdays... if they consider saturday to be a standard business day for them ... would that be the day of recission

Reply by CA_Violet on 11/10/05 9:54am
Msg #75605

So if I do a signing on Friday that would make the recission date what date?

Reply by AngiesMobile on 11/10/05 10:18am
Msg #75607

Tuesday midnight right?

Reply by PAW_Fl on 11/10/05 11:59am
Msg #75630

Unless Saturday is a holiday, it is always counted as a rescission day, no matter if the lender is open or not. The only days that DO NOT count are holidays (that actual day of the holiday) and Sunday. Everything else counts.

Signings done today, 11/10 and tomorrow, 11/11, both have an expiration date of Tuesday 11/15. Saturday 11/12 and Sunday 11/13 both have an expiration date of Wednesday 11/16.

Reply by Charles_Ca on 11/10/05 10:39am
Msg #75611

Gee guys, get a rescission calendar

NNA has a fancy wire bound one and Harry has one on this site in the library for free as do several other sites. A rescission calendar eliminates all of the guessing.

Reply by eXpedN_TX on 11/10/05 10:51am
Msg #75615

Re: Gee guys, get a rescission calendar

To follow-up with what Charles just said, click on the "The Library" folder at the top of this page. You can print out the 2005 and 2006 rescission calendar. I print it in color...it's very well done.