“The right [of rescission] remains in effect until midnight of the third business day following consummation, or delivery of all material disclosures regarding the loan, whichever occurs last,” says Richard Ortoli, co-founder of New York law firm Ortoli Rosenstadt LLP and head of the firm’s real estate and international practices. “If the disclosures are inaccurate, the right to rescind may be extended for up to three years.”