Can I cancel a refi mortgage with USAA after I signed it today.
September 11, 2017 6:29 PM   Subscribe

I made a huge blunder in applying for a mortgage refinance with USAA. I signed the paperwork today. Now after re-reading all the stuff I know I should not have done it. I want to cancel it. Any advice as to how to approach this. I have emailed everyone at USAA that I have dealt with (4 hours after signing). The office is closed and I have not heard back. But I sure do not want this to happen. I am 87 years old and the process is having a horrible effect on me.
posted by JayRwv to Work & Money (5 answers total)
Best answer: You have three days to rescind the refinance.
posted by praemunire at 6:36 PM on September 11, 2017 [24 favorites]

Yes! It's called the right of rescission (you're rescinding the contract). Your request for rescission has to be in writing- email counts. You only have 3 days after signing to exercise your right so you're smart to start right away.

If you still have all your mortgage paperwork, there is a form about your right of rescission and it will say exactly who to contact. Your loan officer at USAA should be able to help, though. Tomorrow morning, call your contact at USAA and confirm that they received your email. If you can't get a hold of them, call their general customer service line 800-531-8722.

Good luck!
posted by thewestinggame at 6:37 PM on September 11, 2017 [4 favorites]

Response by poster: You all give me hope. Thank you so much. I will write tonight and call first thing in the morning. I may sleep after all. Thanks
posted by JayRwv at 7:16 PM on September 11, 2017 [23 favorites]

P.S. Jay, if you feel you were taken advantage of in the process somehow, please (once the recission is confirmed) complain both to USAA and the CFPB.
posted by praemunire at 7:39 PM on September 11, 2017 [8 favorites]

Response by poster: I got it rescinded. And it was not difficult after I got hold of a guy that knew what I was talking about. I am so relieved. And I definitely appreciate all the help given. Thanks
I will receive a letter stating that it has been rescinded. Funny thing and it just shows how vendors pass around your information. I had a phone call today with someone wanting to come and appraise my house. How sick is that.
posted by JayRwv at 4:32 PM on September 12, 2017 [4 favorites]

« Older Help me break my couch.   |   At 6'8" and about 255lbs, am I too big to ride... Newer »
This thread is closed to new comments.