If a consumer exercises his rights to rescind the loan, all of the following statements are true except:

Insurance

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If a consumer exercises his rights to rescind the loan, all of the following statements are true except:

A. The right exercised by one consumer is effective for all consumers

B. The borrower(s) have no liability for the loan including finance charges

C. The creditor must return any money it collected related to the loan within 30 calendar days

D. The mortgage is void

Answer: B

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