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Eastern Savings Bank / Fraudulent practices

1 United States Review updated:
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Eastern Savings Bank fsb is a predatory lender who charged me over 13% on a home loan. I made these draconian payments until I had a health problem .They drew up a forbearance agreement after I threatened them with bankruptcy .. I did that because they would not talk with me to try to work things out.

Instead of helping me they added an additional payment of $100, 000 per year. I kept up with this until I transferred jobs and had to wait for some checks to get to me. But I never missed a mortgage payment during that time In August of 07 I was given until the end of the month to come up with $50, 000. Not only did I do it I also offered 2 months more in advance. The VP said No We've decided we want your house.

I have fought them for along time because I believe this is fraud. They are unresponsive to me, lawyers and mitigation companies. There is so much more that must be uncovered about this bank.

La
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Comments

  • Kb
      11th of Aug, 2009
    0 Votes

    I AM ALSO IN A SIMILAR SITUATION AND IT IS VERY STRESSFUL. I HAVE NEVER BEEN LATE FOR FOUR YEARS UNTIL RECENTLY...HEALTH CONCERNS AND REDUCTION IN FINANCES. THEY KEEP ADDING ON FEES AFTER FEES...IT SEEMS AS IF I WILL NEVER BE ABLE TO CATCHUP. I AM TOTALLY DISAPPOINTED WITH THEIR PRACTICES AND NOT WILLING TO COMPROMISE AND USE ANY MEANS OF MODIFICATION EVEN IF IT IS TEMPORARY...I FEEL HELPLESS AND CONSIDERING THERE IS SO MUCH DISCUSSION ON STIMULUS PACKAGES ETC...WHERE DO YOU GO FOR HELP?????
    DESPERATE HOMEOWNER!

  • Mo
      23rd of Jan, 2010
    0 Votes

    Eastern Savings Bank appears on many complaint boards because they are a hard money lender that has shown they are unwilling to modify mortgages. They appear to deal only with people who have some equity. The word is they don't budge and people are concerned that some of their tactics should be scrutinized by the Thrift Supervision Board, they already havea cease and desist order against them with respect to commercial lending practices. You can file a complaint with the U.S. Thrift Supervision Board: copy link to browser.
    http://www.ots.treas.gov/?p=ConsumerComplaintsInquiries

    Consumer alert - Eastern Savings Bank in Hunt Valley Maryland is a Predatory lender. We are hoping to gather enough victims of this company to initiate a class action lawsuit. This company has been preying on the vulnerable for far too long. They routinely charge interest rates above 12 and 13% They also are involved in creating prepayment penalties that may violate many state statutes.

    With the current state of the economy and the thousands of Americans facing foreclosure this company stands out as one of the worst. They appear to not agree to modify loans they refuse to work with homeowners and have been known to treat them with disrespect and a cold calculating manner. They appear to be going after the properties rather than working with homeowners in an effort for them to stay in their homes.

    If you are a victim - let us know - state your case here and provide info to join in the pending class action lawsuit. We are looking at something similar to the class action suit filed against Countrywide. Eastern Savings certainly appears far worse than CW.

    The federal government should be made aware of this federally insured bank and the tactics they utilize to take people homes! People need to take a stand against banks that refuse to modify loans and at least give people a chance!

  • Mo
      19th of Mar, 2010
    0 Votes

    Totally agree! eastern Savings Bank is a predatory lender!

  • Mo
      6th of Apr, 2011
    0 Votes

    I, too am a victim of this bank. I would like to join in with this concern we are all facing with eastern savings bank. I reside in the state of Virginia. I may be contacted @scp754pettiford@gmail.com.

  • Ma
      13th of May, 2012
    0 Votes

    I am looking for people to join a lawsuit against Eastern Savings Bank...we have two so far and need three more to start an action...do not think there is any cost involved at this time but want to get a list of people who might be interested. let me know.
    Bob

  • Ma
      13th of May, 2012
    0 Votes

    I am a victim...foreclosure and Home auction want to join and I know others please contact me.
    Bob

  • Mb
      29th of May, 2012
    0 Votes

    I am in missouri and I am in the same situation with my ESB mortgage. I am going to the state to look at the predatory lending laws. I have been informed by an attorney that my pre=payment penalty is not legagl in missouri. Here is my email address m16baker@hotmail.com.

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