Business / Loan / Rescind: Literally means 'to take back' or 'cancel.' If a borrower rescinds a mortgage loan, it is as if the mortgage loan never existed. Some borrowers have by law a right to 'rescind' certain mortgage loans. Note: A Borrower is entitled to a refund all fees paid in connection with the loan if the Borrower exercises his right of rescission.


Health / Health Insurance / Rescission: is a controversial insurance industry practice that has come under fire as an unfair tactic used to deny coverage to policy holders. If you've been a victim of rescission, your insurance company has r MORE


Business / Real Estate / Recission: An option in the discharge of a contract. If both parites agree, they may rescind a contract in a process called recission. MORE

Latent Defect

Business / Real Estate / Latent Defect: A hidden structural defect that would not be discovered by ordinary inspection and that threatens the propertys soundness or the safety of its inhabitants. Some states impose on sellers and licensees MORE