On Nov. 4, the U.S. Supreme Court heard oral arguments in Larry and Cheryle Jesinoski v. Countrywide Home Loans Inc., et al., (No. 13-684), a case that will resolve a circuit court split on portions of the Truth in Lending Act (TILA) that give a borrower the right to rescind, or cancel, a mortgage loan. At issue in the case, which has been making its way through the courts for nearly five years, is whether under TILA, a borrower can exercise his right to rescind a transaction by notifying the creditor in writing within three years of the transaction’s consummation
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