Notice of Right to Cancel aka Right to Recission

“This is your notice of right to cancel or right to recission. This document states that you have three (3) business days (point out date outlined on document) from today to cancel your refinance if you choose to do so. There are two copies of this document that you will have to sign and date. One is for the Lender and the second is for the Title Company. Please ensure that you sign in the correct spot as signing in the wrong place can cancel your loan. “

Each borrower has what is known as a recission period to cancel their refinance if they change their mind or for any other reason. The date that they will have to cancel to is outlined on the document. One important piece of information is that there will be two (2) places for the borrower to sign on the document. Always ensure the borrower is signing the correct spot. If not, they will inadvertently cancel their loan. If the borrower does in fact want to cancel their loan the document will contain all of the instructions for them to do so.