{"id":199230,"date":"2007-08-23T05:01:00","date_gmt":"2007-08-23T10:01:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/08\/23\/how-to-get-out-of-a-deceptive-mortgage\/"},"modified":"2007-08-23T05:01:00","modified_gmt":"2007-08-23T10:01:00","slug":"how-to-get-out-of-a-deceptive-mortgage","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/08\/23\/how-to-get-out-of-a-deceptive-mortgage\/","title":{"rendered":"How To Get Out of a Deceptive Mortgage"},"content":{"rendered":"<p>(Via the Big Picture)It appears that <a href=\"http:\/\/bigpicture.typepad.com\/comments\/2007\/08\/coming-soon-tru.html\">failure to disclose loan terms according to the Truth-in-Lending laws can change the loan status<\/a>.<\/p>\n<p>It turns out that there is a provision in the <a href=\"http:\/\/www.fdic.gov\/regulations\/laws\/rules\/6500-200.html\">Truth-in-Lending Act<\/a> that allows debtors to rescind their loan and void their mortgages if the terms  of the loan are not clearly spelled out. <br \/>You still owe the money, but they are now just another creditor, at the back of the line, and protections from homestead provisions and bankruptcy would still apply.<\/p>\n<p>One wonders how <span style=\"font-style:italic;\">*chough* Alan Greenspan ignoring the Fed&#8217;s role in mortgage lending *cough*<\/span> the lenders could have screwed up so badly on something that was both cheap and easy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Via the Big Picture)It appears that failure to disclose loan terms according to the Truth-in-Lending laws can change the loan status. It turns out that there is a provision in the Truth-in-Lending Act that allows debtors to rescind their loan and void their mortgages if the terms of the loan are not clearly spelled out. &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1261,973,1265,1081],"tags":[],"class_list":["post-199230","post","type-post","status-publish","format-standard","hentry","category-bubble","category-economy","category-housing-crash","category-laws"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/199230"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=199230"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/199230\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=199230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=199230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=199230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}