8th Circ. Tightens Window For Mortgage Rescission Claims

Law360, New York (August 19, 2013, 6:00 PM EDT) -- The Eighth Circuit ruled Monday that borrowers using the Truth in Lending Act to rescind home loans must bring legal action before a bank sells off their property, rejecting a Minnesota family’s attempt to undo a series of allegedly deceptive mortgage transactions.

A majority of the three-judge panel affirmed the dismissal of the Hartman family's bid to rescind several complicated loan transactions they entered into with Prime Security Bank and a real estate financing outfit called Midwest Equity Consultants Inc. that enabled them to build an...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.