Question

The right of rescission, which applies to loans that place a lien on the borrower residence, is effective until midnight on the

Answer 1

It is effective until midnight on the THIRD DAY FOLLOWING THE COMPLETION OF THE TRANSACTION.
The right of rescission is a claimable right under the American federal law that empowers a borrower to cancel a home equity loan with a new lender or to cancel a refinance transaction done with another lender under another mortgage within three days of closing.