A "rescission period" refers to a specific timeframe during which you can cancel or withdraw from a contract or agreement without any penalties or consequences. It allows you to change your mind and undo the agreement. Full definition
If so, I understand the 3 day right of rescission period does not begin until all that have an interest in the property is provided the notice. (thetruthaboutmortgage.com)
Development margin was $ 37 million, a $ 1 million decrease from the second quarter of 2013, as the prior year period benefited from the impact of extended rescission periods in the company's Europe segment. (marriottvacationsworldwide.com)
So then, how do you get out of a reverse mortgage if you have a HECM for Purchase or you have already passed the 3 - day rescission period on a normal reverse mortgage loan? (americanadvisorsgroup.com)