(205 ILCS 205/6006) (from Ch. 17, par. 7306-6)
Sec. 6006.
Modification agreements.
A savings bank, at any time, may enter into a written
agreement with a borrower to modify, in any manner not
inconsistent with the provisions of this Act, the terms of a loan
as to the amount, time or method of the payments to be made, the
interest rate, and any other provision of the loan contract, and the
loan contract and the security instrument shall not be prejudiced
by the making of any modification, even if a modification
was not provided for in the loan contract.
(Source: P.A. 86-1213.)
|