The Truth-in-Lending Act is designed to protect the consumer against unfair credit practices. The Act requires that lenders disclose all expenses associated with a loan and provides the borrower with a rescission period after terms have been accepted. Conduct some research on the Truth-in-Lending Act and address the following questions:

• Based on your research, describe one area of the Truth-in-Lending Act that you did not know previously or that you found to be surprising.
• How does the Truth-in-Lending Act impact you as a borrower for a mortgage or real estate loan?
• Outline a situation where the Act could protect you as a borrower.