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Emigrant Savings Bank

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Anonymous
map-marker Dallas, Texas

Emigrant savings bank rip-off

AI Highlights
  • - Emigrant Savings Bank NY loan; approved 427K of 500K; 300K held in escrow until occupancy.
  • - Only 90K funded; escrow and fees; 8.625% interest.

I was stuck in a cash crunch trying to build a family home.i got a loan from emigrant savings bank's new york branch.the home i built was valued at approx. 1.4 million dollars.i had asked for 500K.they only allowed me 427K,but they kept 300K in an account till i got a cert.of occupancy for the home.the trouble started when i received only 90K at closing,because of escrow fees,taxes,attorney fees etc.they have refused to advance any more of my own money, which i am already paying 8.625 interest on.stay away from this bank at all costs!!!!!!!!!!!

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