The State Bank Loan Modification Process
State Bank is a local bank that is now under the control of Fentura Mortgage. The State Bank Loan modification process, however, is still controlled at the local level for loans originated at their branches.
The loan modification process will require borrowers to show proof of loss of income. This may be due to lay-off, military service, medical disability or reduction in pay. Borrowers will also be required to provide proof that they currently have income to support making payments on a modified loan.
The State Bank loan modification process takes between two and three months to complete. During this time all foreclosure proceedings will be halted. If, during the loan modification process it is possible, payments should continue to be made on the loan at its current rate.
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Other Debt Solutions
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