Loan Funding After Right Of Recission

[mamadukes12]

What is the name of your state?What is the name of your state? Massachusetts

If I closed on a loan on Monday 11/22/04 does the new lender have to disburse the funds within a specified amount of time after the 3 day right of recission has passed? How much time do they have to do this?

 

[CoolAngel]

You should receive your check anywhere from 7-10 days after you sign. I would give it until the end of the week. Don't forget there was a holiday stuck in the middle. I just recently signed for a refi. It took 10 days to get the check. I signed on 11/12 and received my check on 11/22. Hope that helps.

 

[mamadukes12]

Funding time after recision

Specifically i was wanting to know if there is a maximum amount of time for disbursement (according to the law) ie: funds must be disbursed by the 10th day after closing...or 10th day after right of recision passes. Thanks!

 

[baker10]

When we refinanced recently, I asked a friend of mine who works in the banking industry the same question. She said that the funding can be held up for weeks if the lender so chooses. I don't know whether or not there is a law.