Questions and Answers
On a owner occupied refinance, where the mortgage and deed are signed by husband and wife, but wife did not sign the truth in lending form, does the wife have a right to rescind, even if husband does not wish to?
Assuming that the wife has the right to rescind at all, we can say that the fact that the husband does not wish to rescind does not affect the wife's right to rescind. Regulation Z provides that when more than one person has the right to rescind, any one of them may exercise the right and it will be effective as to all of them. (12 CFR 226.23(a)(4))
(Posted: 07/20/2007)
