This is known as the right of rescission. Contact an attorney immediately if you have any questions about whether your lender violated the law. Don't sign anything related to a home loan without first obtaining independent, free advice from a nonprofit counseling agency. Check the Resources list below. Don't take the first loan offer that lands in your lap.
Some lenders charge more than others do.
If you really need or want a home loan, you should make the first contact and carefully investigate all the possibilities before considering a loan. Don't take out a loan that is made solely on the value of your home, not on your ability to repay it. Your home equity alone does not give you the income you need to make the monthly payments. Don't borrow more money than you need. The bigger the loan, the more stake your lender will have in your home equity.