Final answer:
False. Borrowers with a high-cost loan can rescind the loan under certain circumstances.
Step-by-step explanation:
False. Borrowers with a high-cost loan can rescind the loan under certain circumstances. The Truth in Lending Act (TILA) provides borrowers with the right to rescind certain types of loans within a specified period of time. This right allows borrowers to cancel the loan and receive a refund of any fees or costs associated with the loan. However, it's important to note that not all loans are eligible for rescission, and there are specific conditions and timeframes that must be met for a borrower to exercise this right.