TILA rescission procedures appear to apply to all loans. Whether the facts support TILA rescission is another matter. If you send a notice of rescission and you are incorrect about your ability to cancel the loan, then the bank can file an action within 20 days of receipt of the notice to file an action saying that the rescission should be blocked. Otherwise the rescission is effective by operation of law from the moment it is dropped in the mailbox. Not all closings are as clear as the banks would have the court think. While there are restrictions on when a borrower is entitled to cancel the loan, those are questions of fact that must be raised before the 20 day window expires. That’s how we see it and we think…