Attorneys that represent borrowers have banded with other consumer advocate organizations to oppose a revision in the Truth in Lending Act that would eliminate a borrower’s ability to rescind a mortgage for up to three years if there are mortgage compliance violations. Mortgage bankers, on the other hand, are inclined to go along with the proposed changes.
This wire news service story is no longer available.
However a copy might still be available at www.santacruzsentinel.com