Under the Federal Truth in Lending Act, 15 U.S.C. § 1635 and Regulation Z, 12 C.F.R. 226.15, borrowers who refinance a loan on their primary residence with a lender other than their current lender can cancel the deal at no cost to themselves within 3 days of closing.  This "right of rescission" is designed to give borrowers an opportunity to think it over and, if they decide the deal is not really in their best interest, to back out and retrieve any monies they have paid out.   DIFI enforces this right though the mortgage broker and banker statutes Arizona Revised Statutes §§ 6-906(D) and 6-946(E).