Calling Lawyers! Mortgage refinance

Factual Questions
1

Yes, I know my local laws may vary and that I should consult a local legal representative and everything else… but I’m still curious.

My bank just told me that if I enact my right of rescission on a refinance loan after signing the papers I will have every single dime refunded to me. All of it. I find that hard to believe, as the bank would be out hundreds of dollars for things such as:

loan application fee
appraisal fee
credit report
flood determination
etc.

So, I ask… will I really not owe a dime? Can I really just walk away and go sign another loan somewhere else?

2

You cannot rely on oral statements. These types of legal transactions are governed by the Statute of Frauds, which means that the only provisions that control are those that are written. So you have to read the contract and associated papers to see what the provisions are.

3

More than you ever wanted to know about -

Reviewing the Right of Rescission