There are two types of rescission. The first is common law rescission, the second is rescission under the Truth-in-Lending-Act. The Supreme Court decision (a TILA case), entitled Countrywide v. Jesinoski, Judge Scalia stated that if, within 20 days or rescission, the "lender" fails to respond to the letter of rescission that the mortgage, note and loan are void. Rescission under TILA does not require Tender, where sometimes under common law rescission tender will be demanded.
Rescission occurs by operation of law. With that being said if you 'argue' rescission you have already lost. If you ask the court to allow you to do something that has already been done you will lose on rescission. I highly recommend the website
www.livinglies.wordpress.com by Neil Garfield. Furthermore, do not assist the presumptions made by the court by referring to the transaction as a loan in your rescission letter- refer to the transaction by an account number. Proving that consummation did not occur is very difficult because the banks are able to stonewall the homeowner and exhaust their resources. In your rescission letter do NOT go into a lot of legal theory. Your letter should be something like this:
Dear Loan Servicer,
This letter serves as notice of rescission under the Truth in Lending Act. I hereby rescind the note and mortgage under account # 12345678.
Please refer to the December 2014 Scotus Jesinoski decision.
Thank you,
Joe Homeowner
I have attached a letter for your use. If you add to much information to your letter banks have a way of using that information against you. There is a good rescission decision called Paatalo (a pro-se case). This post does not constitute legal advice, and I am not an attorney.