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Rescission:
The cancellation or annulment of a transaction or contract by the operation of a law or by mutual consent. Borrowers usually have the option to cancel a refinance transaction within three business days after it has closed.
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This glossary is an extensive listing of lending and mortgage terms that you can use when working with Landmark Funding to find the right loan or mortgage for you. - To get started, select the appropriate letter for a listing of all the glossary terms that begin with that letter. Then, locate the word you are looking for. If you are unable to find a specific term, contact us for a more complete explanation.