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Question:

Regulation Z (Reg Z) of the Federal Truth-in-Lending Act (TILA) gives the borrower a 3 day right of rescission when the loan is ____

A a loan to refinance the borrower’s personal residence.
Explaination

Regulation Z (Reg Z) of the Federal Truth-in-Lending Act (TILA) applies to oneto-four unit residential properties, therefore answer selections A and D do not apply. Further government loans have their own restrictions.