right to cancel: 'What if I don't want a 3-day right to cancel?' - 04/30/09 01:24 PM
For the majority of the closings that I do there is a 3-day right to rescind.  Most borrowers welcome this opportunity to have a chance to review the documents, get answers to questions, resolve any problems, ... etc.
However, not all borrowers want to wait 3 days.
I hear it often. 'I've come this far. I have no intention of canceling.' or, 'With this interest rate, there's no way I'm going to cancel.' Etc.
 
 
That's not for me to decide. I'm 'just a notary'.  What I would tell the borrower is that they should contact their loan officer regardng … (0 comments)

right to cancel: Right to Cancel: 2 signed copies - 01/19/09 07:44 AM
It is understood that, if a borrower has a right to cancel, they are to receive two copies of the right of rescission.  This is a federal requirement.
 
 
Should the borrowers sign their 2 copies of the right to cancel?  This was a question that was raised on one of the notary message boards recently.
Why should they sign it?  The copies are going to be kept by them.  They might not even cancel.  So it's a waste of time to have them sign their copies, isn't it?
It might be a waste of time.  But that's not a … (13 comments)

right to cancel: Right of Rescission: getting it right - 01/20/08 12:28 AM
Monday, January 21st, is a holiday. It's Martin Luther King, Jr's birthday.  If you're a notary signing agent, that day has significance in that it affects the rescission date.
There are notary signing agents who claim they don't carry a rescission calendar. Personally I think it's a good idea to carry some form of rescission calendar. Yes, we all know how to calculate the rescission date on our fingers and toes. But we have to be mindful of the dates and special days that affect the rescission date.  And if you overlooked the fact that Monday is a holiday -- Martin Luther … (3 comments)

 

Leon Austin

Colorado Springs Mobile Notary

Colorado Springs, CO

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Mobile Notary Services

Address: Colorado Springs, CO

Office: (719) 473-9336

Mobile: (719) 238-7988

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