Taylor
Taylor v. Money Store
Opinion
Lead Opinion
MEMORANDUM *
Appellants Edward W. Taylor (“Edward”) and Gail J. Taylor (“Gail”) appeal the district court’s grant of The Money Store’s (“TMS”) Motion to Dismiss Appellants’ action with prejudice, denial of Appellants’ Motion to Amend their Complaint, and denial of Appellants’ Motion to Amend to Add Defendants.
Gail Taylor obtained a loan from The Money Store on November 21, 1996, secured by a deed of trust. Gail signed her name to the loan documents and forged her husband’s signature. On January 7, 1999, Edward was informed of the existence of the loan and foreclosure proceedings due to default on the loan payments. Appellants filed their complaint under the Truth-in-Lending Act (“TILA”) on March 17, 2000.
1. Appellants’ claim for rescission under 15 U.S.C. § 1635 (f) is time-barred, because Appellants failed to file a claim within three years of securing the loan. Equitable tolling does not apply to rescission under this provision of TILA, because “ § 1635(f) completely extinguishes the right of rescission at the end of the 3-year period,” even if the lender has never made the required disclosures. Beach v. Ocwen Fed. Bank, 523 U.S. 410, 412-13, 419 , 118 S.Ct. 1408 , 140…