Notice of Right of Rescission

This notice is required under Regulation Z and instructs the consumer of the right to cancel a nonpurchase money loan secured by a principal dwelling. It is often used when improvements are made on a borrower's principal home.

The "OPEN" version is used to open a line of credit. The "ADD" version is used when adding a security interest. The "CRED" version is used when increasing the credit limit. The "SEC" version is used when increasing the amount of security. We use Regulation Z model language.