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Posted by  PAW Notary Services on 10/27/04 8:05pm
>>> All lenders for an Equity Line of Credit (even for a purchase) require a Right to Cancel to be signed. <<<
Not necessarily. The right of rescission is not available when you refinance your loan with the same lender, when the house in question is not your primary residence (in other words, if it's your vacation home or an investment property), if you borrow the money for your business, or if you're borrowing from a state agency.
That leaves a lot of situations where you do have the right of rescission: when you refinance your mortgage with another lender and when you take out a home equity loan or line of credit (unless it's part of a "piggyback loan" designed to avoid paying mortgage insurance).
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