This is known as your right Browse this site of "rescission (how do adjustable rate mortgages work). how do reverse mortgages work." To cancel, you need to inform the lending institution in writing - how follow this link do biweekly mortgages work. Send your letter by certified mail, and ask for a return invoice so that you have documents of when you sent and when the lender got your cancellation notification. Keep copies of any interactions between you and your lender.
If you believe there is a reason to cancel the loan after the three-day duration, seek legal aid to see if you have the right to cancel (how do interest only mortgages work uk). http://elliotonlq372.wpsuo.com/the-best-guide-to-what-are-reverse-mortgages-and-how-do-they-work Keep in mind: This info just uses to House Equity Conversion Home Mortgages (HECMs), which are the most common kind of reverse home mortgage loans.