As nationalmortgagenews tells MHProNews the Third Circuit U. S. Court of Appeals in Philadelphia ruled that a homeowner can file suit to rescind a mortgage past the statutory three-year limit providing they filed a notice within the three years. The Consumer Financial Protection Bureau (CFPB) filed a brief supporting the homeowner in the case. Of the four appeals courts to have ruled on this same issue, two have ruled in favor of the borrowers and two have favored the lenders, which increases the likelihood that at some point it will be heard before the Supreme Court.

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