Bank Changes Loan

[questions]

If a bank changes the loan many years after signing..and completely changes an important part of the original loan that I signed..what is it called? A breach, fraud, breaking?? or something other..

I am sure it illegal as they have nothing to prove their changes.

[kork13]

You need to find the original contract/loan documents you signed at the beginning. There could be a clause in there allowing them to make some sort of a change to the loan (you don't specify, but I'm guessing the interest rate, or minimum payments?).

Look through your documents, and take it to your bank to contest the change if you find that you have grounds to do so. If they refuse to address it with you, I would talk to a lawyer. They can look over the loan papers themselves, and they will hold more sway with a bank than an individual -- many times, just the threat of legal action can make things happen.

[Alex_Adviser]

Sorry to say, but most of the loan agreements says that the loan policy, term, interest and conditions can change on the full discretion of the lender. And hence you need to go through your loan agreement again carefully.

If it is mentioned there then you cannot do anything but only to accept the changes made.