Reply by PAW on 2/14/08 7:46pm
Msg #235373
Monday 2/18 is a Federal Holiday
That day cannot be counted as day of rescission, pursuant to Title 12 (Reg Z) which stipulates that Sundays and all Federal Holidays are not counted.
Specifically, Reg Z states:
"The consumer may exercise the right to rescind until midnight of the third business day following the occurrence described in paragraph (a)(1) of this section that gave rise to the right of rescission, delivery of the notice required by paragraph (b) of this section, or delivery of all material disclosures, whichever occurs last."
Where:
"Section 226.2-Definitions and Rules of Construction
2(a)(6) Business day.
2. Rescission rule. A more precise rule for what is a business day (all calendar days except Sundays and the federal legal holidays listed in 5 U.S.C. 6103(a)) applies when the right of rescission or mortgages subject to §226.32 are involved."
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