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Illinois Modification of Mortgage Loan in Default to Bring it Current and to Change Variable Rate of Interest to Fixed Rate
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State:
Illinois
Control #:
IL-01400BG
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Description il rate interest

An agreement modifying a loan agreement and mortgage should be signed by both parties to the transaction and recorded in the office of the register of deeds and mortgages where the original mortgage was recorded. Such a modification is contractual in nature and should be supported by consideration.

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