This is called your right of "rescission (how mortgages work). reverse mortgages how they work." To cancel, you need to inform the lending institution in composing - how do down payments work on mortgages. Send your letter by licensed mail, and request a return invoice so that you have documentation of when you sent and when the lender received your cancellation notification. Keep copies of any interactions in between you and your lending institution.
If you believe there is a reason to cancel the loan after the three-day period, look for legal help to see if you have the Discover more right to cancel (how do interest only mortgages work uk). Note: This information only http://elliotwvez316.wpsuo.com/excitement-about-how-many-mortgages-in-the-us applies to Home Equity Conversion Mortgages (HECMs), which are the most common type of reverse home loan.
