(15 U.S.C. §§ 1602, 1635; on cross motions for summary judgment, Court found assignment of note and security deed on day of closing does not trigger extended three year rescission period of Truth in Lending Act as long as loan proceeds not disbursed within three day rescission period; assignment does not terminate right of rescission under Truth in Lending Act against original lender as matter of law; if at trial there is proof of a violation of Truth in Lending Act, Court will reach issue of whether a rescission remedy can be fashioned against the sole Defendant sued as Plaintiff did not join current holder of note and security deed)
File:
Judge:
Date:
03/15/2005