Burson v. Capps
Court of Appeals of Maryland
1Opinion of the CourtHarrell, J.
May one undo what one has not done yet? Although the answer to this abstract question has been the premise for many a time travel “B” movie, it bodes even less well for a borrower or borrowers attempting to rescind loans that have not been consummated, within the meaning of the federal Truth in Lending Act (“TILA”), 15 U.S.C. § 1601 et seq. (2012). Prior to closing on a home refinancing loan, Respondent, Jeffrey G. Capps, submitted a notice of rescission of the loan to the lender. A day or two after submitting the notice, Capps signed a Note and Deed of Trust consistent with the negotiated…
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