# Calling Lawyers! Mortgage refinance **URL:** \ **Category:** Factual Questions\ **Created:** [October 8, 2002, 8:25pm UTC](https://boards.straightdope.com/t/calling-lawyers-mortgage-refinance/131427 "2002-10-08T20:25:10Z")\ **Posts on this page:** 3\ **Page:** 1
**Author:** ![cmosdes](https://avatars.discourse-cdn.com/v4/letter/c/a587f6/32.png) [@cmosdes](https://boards.straightdope.com/u/cmosdes)\ **Post date:** [October 8, 2002, 8:25pm UTC](https://boards.straightdope.com/t/calling-lawyers-mortgage-refinance/131427/1 "2002-10-08T20:25:10Z")
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? ---
**Author:** ![barbitu8](https://avatars.discourse-cdn.com/v4/letter/b/839c29/32.png) [@barbitu8](https://boards.straightdope.com/u/barbitu8)\ **Post date:** [October 8, 2002, 8:37pm UTC](https://boards.straightdope.com/t/calling-lawyers-mortgage-refinance/131427/2 "2002-10-08T20:37:56Z")
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. ---
**Author:** ![astro](https://avatars.discourse-cdn.com/v4/letter/a/9dc877/32.png) [@astro](https://boards.straightdope.com/u/astro)\ **Post date:** [October 9, 2002, 12:15am UTC](https://boards.straightdope.com/t/calling-lawyers-mortgage-refinance/131427/3 "2002-10-09T00:15:03Z")
More than you ever wanted to know about - [Reviewing the Right of Rescission](http://www.complianceheadquarters.com/Res__Real_Estate/RRE_Articles/right_of_rescission.html)