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Court to clarify process for rescinding mortgages
WASHINGTON (AP) - The Supreme Court will decide what a home buyer must do to rescind a mortgage that violates the federal Truth in Lending Act. The justices on Monday agreed to hear an appeal from a Minnesota couple who refinanced their home in 2007 with Countrywide Home Loans, Inc. They claim the company failed to provide some disclosures required under federal law.
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