TILA Rescission: Understanding the Return of Proceeds Requirement

The Truth in Lending Act (“TILA”) has been widely touted as a way for a homeowner to defeat foreclosure and to even wipe out their entire mortgage.  TILA is a very powerful consumer protection statute; however, it is extremely unlikely that TILA will wipeout your mortgage.  This is an area where you should be very careful, because some mortgage rescue … Continue reading »