Legal Question in Real Estate Law in Colorado

colorado right to recend law

how long does you right of recession last in Colorado, when you sign papers for a mortgage loan???


Asked on 1/13/07, 12:14 pm

1 Answer from Attorneys
Robert Murillo Pivotal Legal Ltd.

Re: colorado right to recend law

The right to rescind a loan secured by your principal dwelling can be 3 days or up to 3 years on a right to cancel. It depends on various issues. It is federal law, not Colorado law.

Please note that the right to rescind does not apply to purchase money loans (such as when you buy the house-the first mortgage) or if the loan is not intended for personal family purposes. Contact a real estate attorney if you have questions.

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Answered on 1/13/07, 6:32 pm


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