Jesinoski v. Countrywide Home Loans, Inc.
Jesinoski v. Countrywide Home Loans, Inc., 574 U.S. 259 (2015)
- Court
- Supreme Court of the United States
- Decided
- 2015-01-13
- Docket
- 13-684
What happened
The Jesinoskis refinanced their home and, within three years, sent the lender a letter rescinding the loan for missing Truth in Lending disclosures. The lower courts said they also had to file a lawsuit within three years.
What the court decided
The Supreme Court unanimously held that a borrower exercises the right to rescind by sending written notice to the lender within three years; the borrower does not have to file suit within that time.
In the court's words
“The language leaves no doubt that rescission is effected when the borrower notifies the creditor of his intention to rescind.”
Why it may matter to you
A letter, sent on time, can be what counts. If rescission might apply to your refinance, the date of your letter matters more than the date of any lawsuit.
Why it might not apply
Rescission applies mainly to refinances and home-equity loans, not most purchase loans, and ends three years after closing no matter what (Beach). Unwinding a loan usually means repaying the principal.
Most useful when
- You refinanced within the last three years and the lender left out required disclosures
How to cite it
The full citation for the first time you mention it, a short form for later, and a sample sentence you can adapt.
Jesinoski v. Countrywide Home Loans, Inc., 574 U.S. 259 (2015)Short formJesinoski, 574 U.S. 259Draft — check it with free legal aid before you file or say it in court.
In Jesinoski v. Countrywide Home Loans, Inc., 574 U.S. 259 (2015), the court held that a borrower exercises the Truth in Lending right to rescind by notifying the lender in writing within three years, without needing to sue within that period. Here, [say in one sentence what happened in your case]
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