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AFS Financial, Inc. v. Burdette, 105 F. Supp. 2d 881 (N.D. Ill. 2000)

In this case, VBLH&C successfully argued, and the district court held, that a court, in the exercise of its equitable discretion, can condition rescission of a mortgage loan under the Truth in Lending Act (TILA) upon tender of the amounts previously advanced, leaving the security interest in place until the borrower has made the tender.  The court further conditioned rescission on payment by the defendant-borrower to the plaintiff-lender of interest on the long outstanding balance of the tender amount.

 
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