“The plain wording of the statute says that once the notice is sent the OLD loan agreement is replaced with a NEW statutory mandatory loan agreement. This is the factor that is missed by most lawyers and judges on trial and appellate courts.“
Client goes into the office of an attorney and tells him/her that a notice of rescission was sent. The attorney without studying the issue says the rescission never happened. And so it goes.
In my opinion once the time limits have expired on claims arising from TILA (which includes the debt) the county recorder should remove the encumbrance from the chain of title or be ordered to do so by a court of competent jurisdiction.
Let us help you plan for trial and draft your foreclosure defense strategy, discovery requests and defense narrative: 202-838-6345. Ask for a Consult or check us out on www.lendinglies.com. Order a PDR BASIC to have us review and comment on your notice of TILA Rescission or similar document.
I provide advice and consultation to many people and lawyers so they can spot the key required elements of a scam — in and out…
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