Note: For married couples, a separate election regarding right of rescission should be given by each spouse.
Election Regarding Right of Rescission
Date:
Borrower:
[Borrower’s Spouse:]
Borrower’s Mailing Address:
[Borrower’s Spouse’s Mailing Address:]
Lender:
Lender’s Mailing Address:
Home Equity Extension of Credit
Date:
Original principal amount:
In accordance with Tex. Const. art. XVI, § 50(a)(6)(Q)(viii), [Borrower/Borrower’s Spouse] provides Lender with the following notice regarding the Home Equity Extension of Credit:
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I have elected not to rescind the Home Equity Extension of Credit. I acknowledge that more than three days have expired from the date that the Home Equity Extension of Credit was made. |
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¨ |
I have elected to rescind the Home Equity Extension of Credit. This notice is given within three days from the date that the Home Equity Extension of Credit was made. |
[Name of [borrower/borrower’s spouse]]