Loans Learning Center

Did you know that you have three business days after settlement to cancel your mortgage refinancing without penalties and that you can cancel this process for absolutely any reason? You are entitled to receive all the money you paid to the lender up until that point minus certain costs, such as a credit report or appraisal. This three day period starts the day you receive your Truth in Lending Disclosure when you open your account or when you receive your Notice of Right to Cancel, whichever comes last. Why would you want to cancel your loan after going through the refinancing process? If better rates and terms become available by that time or if your personal circumstances have changed, you can get out of this current refinancing process and either begin a new one or completely discard refinancing altogether without penalty. This can help keep you from making your financial situation more difficult for you. If you want any help with your Phoenix, Peoria or Glendale real estate, please contact me. I’m always here for you.

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