Rescission results in:

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Multiple Choice

Rescission results in:

Explanation:
Rescission is undoing the loan so both parties go back to the way things were before the transaction. When a consumer exercises this right, all money and property exchanged are returned, the loan obligation is canceled, and the lien on the property is released. In short, it restores the pre-transaction position, rather than extending the loan, triggering foreclosure, or imposing penalties.

Rescission is undoing the loan so both parties go back to the way things were before the transaction. When a consumer exercises this right, all money and property exchanged are returned, the loan obligation is canceled, and the lien on the property is released. In short, it restores the pre-transaction position, rather than extending the loan, triggering foreclosure, or imposing penalties.

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