Fact Pattern 24-Hour Credit Corporation Issues High-Cost and High-Fee Mortgage Products to Mortgage

question 30

Multiple Choice

Fact Pattern
24-Hour Credit Corporation issues high-cost and high-fee mortgage products to people,including Benny,who could not easily obtain credit under other loan programs.
-Refer to Fact Pattern 16-1A.Under federal law,if 24-Hour Credit fails to provide certain material disclosures with respect to the loan,Benny's right to rescind the loan

• A)expires at midnight on the day the loan is finalized.
• B)is immediately revoked.
• C)is extended for up to three years.
• D)is tolled for the duration of the loan payments.

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