TILA rescision after converting personal residence to

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I have a client who owns and lives in a house subject to a mortgage. He has
lived in it since he bought it just short of three years ago. The notice of
rescission right was defective so the rescission period extends for three
years instead of three days. On the facts of this case the rescission
period has not expired the client can still give a notice of rescission.
The client wants to move out of the house and rent it out.
1. If the homeowner moves out of his house and rents it out before giving
his notice of rescission, would that defeat his TILA or other (HOEPA, RESPA,
etc.) rights or remedies because the house would no longer be his personal
residence?
2. What if, after a notice of rescission is given, the homeowner moves out
and rents out his house? Does that void the notice of rescission
retroactively?
Thank you,
Alik Segal
Alik.Segal@gmail. com
310-367-3626
CD Cal
I have a client who owns and lives in a
house subject to a mortgage. He has lived in it since he bought it just
short of three years ago. The notice of rescission right was defective so
the rescission period extends for three years instead of three days. On
the facts of this case the rescission period has not expired the client can
still give a notice of rescission. The client wants to move out of the
house and rent it out.
1. If the homeowner moves out of his
house and rents it out before giving his notice of rescission, would that
defeat his TILA or other (HOEPA, RESPA, etc.) rights or remedies because the
house would no longer be his personal residence?
2. What if, after a notice of
rescission is given, the homeowner moves out and rents out his house?
Does that void the notice of rescission retroactively?

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