The rescission period wouldn't begin until the effective date of the Security Instrument, regardless of the date signed/delivered being PRIOR to that. TILA stipulates that it be the LATTER. The Effective date would kick in the actual "occurance ... that gives rise to the right of recsission...", which kicks in the rescission.
The Settlement date and the Effective date and the date the rescission begins would all be the same date, in this situation.
Again, I would strongly suggest that anyone facing date issues that don't seem 'okay' to them to obtain directives from the appropriate source. I would never suggest anyone alter ANY date on ANY document w/out a directive. I did hope to elliminate the frequent assumptions I see where folks equate dating in the future as some kind of fraud attempt, or as "wrong" or "illegal", and the often posted idea that a document with a future effective date "doesn't exist".
One very common scenario is when you have two or more borrowers in different states (or not local to each other), on the same loan. Another situation is when seller/buyer are in different states (or just not local to each other). Or, as has been posted, when docs are just prepared sufficiently in advance, to accomodate signing convenient to borrower.
Marlene - I was not aware of the USNA's stance on this, but would like to know more about the why's behind it? It is a complicated issue, to be sure, and not one that a loan signer should (or I hope would) take on themselves. The dates involve not only the rescission period, but the terms of the loan - interest adjustment in particular. A loan that disburses on a date conflicting with the stated date would have ... problems. All the dates tie together.
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