Mortgage Mint Corp. v. Morgan

Defendants appeal from a judgment of foreclosure of a trust deed securing plaintiffs loan to them. They assert that the court erred when it held that they waived their right to rescind the loan under the Truth in Lending Act, 15 USC § 1601 et seq (TILA), and when it granted plaintiff attorney fees. We affirm.

Defendants applied to plaintiff for a loan. It was to be used primarily to consolidate their personal debts and was secured by a trust deed on their residence and farm. The parties expected the transaction to close on April 23,1981. On April 28,1981, defendants executed a “Notice of…