Dennis Tomblin

Review of Homestead Savings Bank

Bank President Scott Evans Attempted to Strong Arm...

Bank President Scott Evans Attempted to Strong Arm Us.

My wife and I purchased a home from this bank roughly 5 years ago. They helped us out and financed it in house and even gave us some extra to help with repairs that my mother cosigned for. We still had to seek an additional loan with Michigan State Federal Credit Union though. Within the last 2 years we began to struggle financially and became consistently 30-45 days late on our mortgage. We also were just under 30 days late consistently on our second mortgage with them. We were contacted by the new bank president Scott Evans to sit down and come up with a solution. Initially he acted like he was concerned for us and wanted to help. After sitting down a couple of times we came to an agreement on a 30 year ARM with 10 years fixed. While we did get this process started. We still continued to struggle financially. Come January 2nd, 2020 we had gotten the house re-appraised which it was valued at $63,000. This is above and beyond the original agreement of $50,000 for the loan. We were contacted by the mortgage originator and were informed that Scott Evans would no longer include our MSU loan in the refinance. This was because we had become 30 days late on our December payment. I asked her to have Scott Evans contact me so I could discuss the details with him. We had also just signed initial loan estimate agreement created 12/27/19. While on the phone with Scott he decided that since the MSU loan did not affect the banks standing on the home he did not feel like financing it. We started this whole process with the intention of simplifying our bills and hoping to get back on track financially. When I tried to explain to him that we wanted him to honor the original agreement we came to and that we wouldn't accept anything else he decided to try and strong-arm us. His response was that we could either accept the new terms or continue with our current path and he would foreclose on our home. When I asked why how he could foreclose on our home with us only being 30 days delinquent. He proclaimed he would personally monitor the laws and foreclose as soon as possible. Also, since we likely didn't have the money he would gladly make sure my mom who cosigned on the second loan was pursued for the rest.

My wife and I came to an agreement with Scott Evans but as soon as he saw the opportunity he decided to try and strong-arm us into doing things his way. Please avoid using this bank at all cost, they care very little for customers. While the other employees are great, the leadership is toxic.