News on consumer rights issues and cases by Attorney Kenneth D. Quat
Borrowers Granted Rescission of Mortgage
Following a one-day trial, the United States Bankruptcy Court sitting in Boston ruled in July that Ernest and Kathleen Jaaskelainen of Attleboro were permitted to rescind a mortgage obtained from Option One Mortgage Company in 2005. The basis for the ruling was that the borrowers had not been given sufficient notices of their right to cancel the loan at the time of closing, as required by both federal and state law. The Jaaskelainens were represented by Quat Law Offices. The ruling has been appealed, but counsel is confident that it will be upheld.