Recently, a homeowner sued his lender for the right to rescind his loan.  The bank argued that the homeowner had to actually sue the bank to enforce the rescission, the homeowner argued that under the law, all the homeowner needs to do is to write a NOTORIOUS (obvious) notice of rescission to the lender.  Anyway, it went all the way to the Federal Supreme Court…and the homeowner won.

Now, hundreds of homeowners and attorney across the country are using this process with great success to win their property free and clear according to Neil Garfield.


Under the Truth in Lending Act (TILA) also known as FDIC Regulation Z: USC TITLE 15 > CHAPTER 41 > SUBCHAPTER I > Part B > § 1635, called The Right of Rescission, you have the right to rescind your loan.  Normally, this has to be done and notified within the first 3 years of your loan…but using Neil’s process, ANY BORROWER CAN NOTIFY THEIR LENDER OF THEIR INTENT TO RESCIND.  According to Garfield, the lender has to take you to court to object within 20 days.  If they do not sue you to object within 20 days of your notice of Rescission, then you can sue for Quiet Title and get your house free and clear.

Take a look:

” USC TITLE 15 > CHAPTER 41 > SUBCHAPTER I > Part B > § 1635
(b) Return of money or property following rescission
When an obligor exercises his right to rescind under subsection (a) of this section, he is not liable for any finance or other charge, and any security interest given by the obligor, including any such interest arising by operation of law, becomes void upon such a rescission. Within 20 days after receipt of a notice of rescission, the creditor shall return to the obligor any money or property given as earnest money, down payment, or otherwise, and shall take any action necessary or appropriate to reflect the termination of any security interest created under the transaction. If the creditor has delivered any property to the obligor, the obligor may retain possession of it, visit Upon the performance of the creditor’s obligations under this section, the obligor shall tender the property to the creditor, except that if return of the property in kind would be impracticable or inequitable, the obligor shall tender its reasonable value. Tender shall be made at the location of the property or at the residence of the obligor, at the option of the obligor. If the creditor does not take possession of the property within 20 days after tender by the obligor, ownership of the property vests in the obligor without obligation on his part to pay for it. The procedures prescribed by this subsection shall apply except when otherwise ordered by a court. “



You can read the case in re: Jesinoski v Countywide.

We have a complete process that teaches you step by step on how to do this process, including the Federal Lawsuit template “fill in the blank” style.

Take a look:

Notice of Rescission


It includes everything you need from A to Z to proceed with your Notice of Rescission, including business listing sites, the complete “fill in the blanks” Federal Lawsuit template for the Rescission.  This process is in Module 0.1: Notice of Rescission.

If you would like to join our Coaching Program and get access to the full process, including all the documents, videos and templates, click here.


Disclaimer: This information is provided to you strictly for educational purpose.  Nothing on this site can be construed as giving you legal advice.