NOTICE OF RIGHT
TO CANCEL Your
Right to Cancel
You are entering into a new
transaction to increase the amount of credit previously provided to
you. Your home is the security for this new transaction. You have
a legal right under federal law to cancel this new transaction, without
cost, within three business days from whichever of the following events
occurs last:
(1)
the
date of this new transaction, which is
; or(2)
the date you received your new Truth in Lending disclosures; or
(3)
the date you received this notice of your right to cancel.
If you cancel this new transaction, it will not affect
the amount that you presently owe. Your home is the security for that
amount. Within 20 calendar days after we receive your notice of cancellation
of this new transaction, we must take the steps necessary to reflect
the fact that your home does not secure the increase of credit. We
must also return any money you have given to us or anyone else in
connection with this new transaction.
You may keep any money we have given you in this new transaction
until we have done the things mentioned above, but you must then offer
to return the money at the address below. If we do not take possession
of the money within 20 calendar days of your offer, you may keep it
without further obligation.
How to Cancel If you decide to cancel
this new transaction, you may do so by notifying us in writing, at
(creditor’s name and business address).
You may use any written statement that is signed and dated by you
and states your intention to cancel, or you may use this notice by
dating and signing below. Keep one copy of this notice because it
contains important information about your rights.
If you cancel by mail or telegram, you must
send the notice no later than midnight of
(date)
(or midnight of the third business
day following the latest of the three events listed above). If you
send or deliver your written notice to cancel some other way, it must
be delivered to the above address no later than that time.
I WISH TO CANCEL.
Consumer’s Signature Date
