Is it legal for a bank to change conditions regarding a loan w/out notice to all listed on loan?
Trisha
Other/Just Looking
Gibsonville, NC
This regards a boat loan; my name is still on the boat. Did not come off before divorce and atty would not put in divorce papers that my ex was responsible therefore I've had problems getting loans, credit is terrible due to late payments by ex. Now I find out that changes were made that he is making 'interest only' payments; comment made by agent I spoke with that a 'partner' was mailing payment. When asked partners' name the agent stated he wasn't at liberty to give out that info. My name is on the loan documents and it is my understanding I am entitled to information regarding this and I have mailed a request for paperwork regarding the changes. Anyway, as stated in my question, I just wondered if it is legal for changes to be made w/out consent from all parties listed. Obviously, I wasn't aware of the changes made until recently. Thank you for your advice.
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