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Houston Mortgage > Glossary >
Real Estate > N 1-10
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Notice of Right to Cancel
Under federal law, you may be permitted to cancel or "rescind" a mortgage loan within a specified time, generally three days, after you have signed loan documents in a refinance, second mortgage or other mortgage loans which do not involve the purchase of a home. . The lender is required to give the borrower notice in writing of this right to cancel or rescind and the deadline to cancel. (read full details in The Complete Guide to Your Real Estate Closing.)
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