Larry Meyer Virginia Badalamente Meyer v. Ameriquest Mortgage Company, a Delaware Corporation
Opinion
Opinion
Noonan, J.
Larry and Virginia Badalamente Meyer (the Meyers) appeal the judgment of the district court in favor of Ameriquest Mortgage Company (Ameriquest). The Meyers brought suit against Ameriquest for violation of the Truth in Lending Act, 15 U.S.C. § 1601 et seq. (TiLA). The district court granted summary judgment to Ameriquest. Holding that the statute of limitations has run on the Meyers’ claim, we affirm the district court.
FACTS
On February 19, 1999, the Meyers applied to Ameriquest for a loan in the amount of $360,000 to be secured by their residence in San Jose, California. On February 22, 1999, Gina Galli, a loan officer for Ameriquest, brought loan documents to the Meyers’ house for signing. Among the documents the Meyers signed was a Right to Cancel Form, which read:
The form also states, “[i]f you cancel by mail or telegram, you must send the notice no later than midnight of 2/25/99 (or midnight of the third business day following the latest of the three events listed above).” Both of the dates listed were handwritten in by the loan officer. The Notice of Right to Cancel form follows the model form in the Official Commentary to Regulation Z, 12 C.F.R. § 226.1 et…