Daily Archives: February 19, 2010

TILA Residential Mortgage Disclosures

Most home mortgages are subject to the disclosure requirements of TILA. 15 U.S.C. Sec. 1638. The required disclosures must be provided to the homeowner prior to the consummation of the transaction, i.e. prior to closing. Homeowners have the right to rescind most credit transactions, including home equity loans, where the home is taken as collateral.