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A: Why use a Connecticut Mortgage Broker?
Connecticut Mortgage brokers.
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Mortgage Glossary >>
CT Mortgage Terms R
Regulation Z - Federal regulation by the Federal Reserve Board to carry out the purpose of the Truth-in-Lending Act.
Rescind or Recission
To cancel a contract. With respect to CT mortgage refinancing, the law that gives the homeowner three days to cancel a contract once it is signed if the transaction uses equity in the home as security.
Truth-In-Lending Act: (Regulation Z) is a federal regulation regardless of state, that requires disclosure of the APR, certain finance charges, the 3-day right of recission when refinance a primary residence, and certain additional disclosures when advertising financing terms.
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