Legal Question in Banking Law in Missouri
Unethical Loan Manipulation and Harassment
Is it legal to alter the conditions or cancel a loan forbearance, without the customers approval, in the sale of a loan from one financial institution to another?
If so.., how can a forbearance be considered legally binding or honorable documents?
Also, if so.., in what manner can they be altered or cancelled?
Asked on 3/09/07, 1:09 pm
1 Answer from Attorneys
David Anderson
Anderson Business Law LLC
Re: Unethical Loan Manipulation and Harassment
Depending on the status of the loan (default/current etc.) the terms and conditions, including any binding agreement to forebear, may well bind the assignee or purchaser of the loan.
I would not be able to advise without reviewing the documents.
Call or email for assistance.
Answered on 3/09/07, 7:28 pm
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