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#1915344 - 04/17/14 05:34 PM Modification/Extension of Loans
tic toc Offline
100 Club
Joined: May 2006
Posts: 138
Springfield IL
I am hoping that someone would guide me to the IL regulations regarding the extension/modification of loans.

I have a question on MATURED loans being modified and/or extended. They can't be.

I know that our Attorney should be consulted, but is there information that I could present to the Bank's compliance officer, also? i'm kind of laying the ground work.

Thanks
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tic-toc, times a wastin!

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#1924685 - 05/20/14 02:55 PM Re: Modification/Extension of Loans tic toc
CountryBanker Online
Gold Star
Joined: Mar 2013
Posts: 266
Northern IL
You've answered your own question if you are past the loan's maturity date. Anything else is risky business.
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#1944527 - 07/23/14 03:15 PM Re: Modification/Extension of Loans tic toc
deh Offline
Platinum Poster
Joined: Mar 2006
Posts: 866
I have a question on MATURED loans being modified and/or extended. They can't be.

Can anyone elaborate on where this is cited?

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#2089166 - 07/21/16 04:20 PM Re: Modification/Extension of Loans tic toc
CindyS Offline
100 Club
Joined: Sep 2005
Posts: 133
Illinois
Adding on to an old thread....

can anyone direct me to the Illinois rule that says that you can't do an extension once you've reached the maturity date of the loan, as this thread implies?

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