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๐€๐ฌ๐ค ๐ฒ๐จ๐ฎ๐ซ ๐‹๐š๐ฐ๐ฒ๐ž๐ซ ๐Ÿ๐ซ๐จ๐ฆ ๐Œ๐Š ๐€๐ฌ๐ฌ๐จ๐œ๐ข๐š๐ญ๐ž๐ ๐€๐๐ฏ๐จ๐œ๐š๐ญ๐ž๐ฌโ€ฆโ€ฆโ€ฆ!!!!!!!!

๐€๐ฌ๐ค ๐ฒ๐จ๐ฎ๐ซ ๐‹๐š๐ฐ๐ฒ๐ž๐ซ ๐Ÿ๐ซ๐จ๐ฆ ๐Œ๐Š ๐€๐ฌ๐ฌ๐จ๐œ๐ข๐š๐ญ๐ž๐ ๐€๐๐ฏ๐จ๐œ๐š๐ญ๐ž๐ฌโ€ฆโ€ฆโ€ฆ!!!!!!!!

๐‘ช๐’‚๐’ ๐’‚ ๐’ƒ๐’‚๐’๐’Œ ๐’Ž๐’‚๐’Œ๐’† ๐’‚๐’๐’š ๐’„๐’‰๐’‚๐’๐’ˆ๐’† ๐’Š๐’ ๐’Ž๐’š ๐’๐’๐’‚๐’ ๐’„๐’๐’๐’•๐’“๐’‚๐’„๐’• ๐’˜๐’Š๐’•๐’‰๐’๐’–๐’• ๐’Ž๐’š ๐’Œ๐’๐’๐’˜๐’๐’†๐’…๐’ˆ๐’†, ๐’‡๐’๐’“ ๐’Š๐’๐’”๐’•๐’‚๐’๐’„๐’† ๐’Š๐’๐’„๐’“๐’†๐’‚๐’”๐’Š๐’๐’ˆ ๐’Ž๐’š ๐’Š๐’๐’•๐’†๐’“๐’†๐’”๐’• ๐’“๐’‚๐’•๐’† ๐’Š๐’ ๐’‚๐’๐’š ๐’˜๐’‚๐’š???????

It is not bankโ€™s or any financial service providerโ€™s discretion to make changes in loan or mortgage agreement. Some banks seem not to understand the principle of contract and take themselves as superiors over the people they lend money or think that they are doing a favor to these people and in so doing they act beyond their contractual and legal mandate.
It is legal and at some time contractual (depending on the provisions of the contract) for banks not to change any provision in the loan agreement without the borrowerโ€™s knowledge and acceptance, ๐—”๐—ฟ๐˜๐—ถ๐—ฐ๐—น๐—ฒ ๐Ÿฎ๐Ÿฐ ๐—ผ๐—ณ ๐—Ÿ๐—ฎ๐˜„ ๐—ก๐—ผ ๐Ÿฌ๐Ÿญ๐Ÿณ/๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿญ ๐—ข๐—ณ ๐Ÿฌ๐Ÿฏ/๐Ÿฌ๐Ÿฏ/๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿญ ๐—ฅ๐—ฒ๐—น๐—ฎ๐˜๐—ถ๐—ป๐—ด ๐˜๐—ผ ๐—™๐—ถ๐—ป๐—ฎ๐—ป๐—ฐ๐—ถ๐—ฎ๐—น ๐—ฆ๐—ฒ๐—ฟ๐˜ƒ๐—ถ๐—ฐ๐—ฒ ๐—–๐—ผ๐—ป๐˜€๐˜‚๐—บ๐—ฒ๐—ฟ ๐—ฃ๐—ฟ๐—ผ๐˜๐—ฒ๐—ฐ๐˜๐—ถ๐—ผ๐—ป mandates the bank or any financial service provider to notify the financial consumer or a person that borrowed the money of any change they are intending to make and the period in which such changes will commence. This notification is given in a period of 30 days and in case the borrower is not contented with the changes, he or she has the right to terminate the contract and to move away at no cost for such relocation.

Further ๐—”๐—ฟ๐˜๐—ถ๐—ฐ๐—น๐—ฒ ๐Ÿญ๐Ÿฌ ๐—ผ๐—ณ ๐—Ÿ๐—ฎ๐˜„ ๐—กยฐ ๐Ÿญ๐Ÿฌ/๐Ÿฎ๐Ÿฌ๐Ÿฌ๐Ÿต ๐—ข๐—ณ ๐Ÿญ๐Ÿฐ/๐Ÿฌ๐Ÿฑ/๐Ÿฎ๐Ÿฌ๐Ÿฌ๐Ÿต ๐—ข๐—ป ๐— ๐—ผ๐—ฟ๐˜๐—ด๐—ฎ๐—ด๐—ฒ๐˜€ stops the mortgagee to do any change of the loan interest without giving notice to the mortgagor and such change has to be in line with the mortgage contract. Changing or undertaking rate modification in the loan contract is strict bared by the law. ๐—”๐—ฟ๐˜๐—ถ๐—ฐ๐—น๐—ฒ ๐Ÿญ๐Ÿด ๐—ผ๐—ณ ๐—Ÿ๐—ฎ๐˜„ ๐—ก๐—ผ ๐Ÿฌ๐Ÿญ๐Ÿณ/๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿญ ๐—ข๐—ณ ๐Ÿฌ๐Ÿฏ/๐Ÿฌ๐Ÿฏ/๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿญ ๐—ฅ๐—ฒ๐—น๐—ฎ๐˜๐—ถ๐—ป๐—ด ๐˜๐—ผ ๐—™๐—ถ๐—ป๐—ฎ๐—ป๐—ฐ๐—ถ๐—ฎ๐—น ๐—ฆ๐—ฒ๐—ฟ๐˜ƒ๐—ถ๐—ฐ๐—ฒ ๐—–๐—ผ๐—ป๐˜€๐˜‚๐—บ๐—ฒ๐—ฟ ๐—ฃ๐—ฟ๐—ผ๐˜๐—ฒ๐—ฐ๐˜๐—ถ๐—ผ๐—ป expressly prohibits charging interest, fees and financial service charges without any disclosure to the financial service consumer or the borrower.

The legal implication of stopping the bank from altering with loan agreement is aimed at protecting the borrower or financial service consumer and hence limiting the banks or any other financial service provider from using their powers over the borrowers.