PrinsBank, Review

PrinsBank, Review

Average rating based on 1 review
Interest Rate and Cost
Office Environment & Staff
Waiting Time
Other Services
No empathy to resolve a no fault of our own Foreclosure
Overall Rating
Interest Rate and Cost
Office Environment & Staff
Waiting Time
Other Services
by razerrae, Dec. 02, 2014

My home is being foreclosed on, not for non-payment, but because this out of state bank purchased a land lot loan from a local bank on a piece of raw land that I own and they called in the balloon payment. I’ve tried to refinance my home so I can get the equity to pay this loan, but they blocked the refi by not removing a partial lean on my home, which was tied in with a deed of trust. The Prins bank has not provided any remedy and would not take initial payments that were being made to previous bank Washington Savings bank. We have defaulted on loan because from day one Prins Bank of Minneapolis Minnesota and their representative Kevin Mulder stated they do not do loan modifications. Previous to the land lot loan being transferred to Prins bank we were approved for a loan modification with initial bank Washington Savings bank. Prins bank upon purchasing note did not honor the loan modification and moved to collect the ballon payment. We offered to continue to make the monthly payments on time as we did with Washington savings bank and Prins bank who answers to Greenwich investors will not provide an option or a remedy to find a solution to this matter. We have lived in our home for 22 years and along comes a bank with investors and they decide they will foreclose on my house to get payment on a separate piece of raw land. Can you help? Maryland has no program that can help us. We will probably be the first homeowners to lose their home by on time payments.  Prins  Bank will not come to the table to mediate or modify my loan that they purchased.    My family and I need your guidance. We are being bullied by a bank and its investors to give them $138,000 or they will foreclose. WE have told them from the beginning that we don’t have $138,000 but would continue to make the monthly payments as instructed in their initial letter before they sent a second letter a week later to demand the balloon payment. As minorities we work hard and pay our taxes in order to have the necessities in life. We are being bullied, and frankly Prins bank and Greenwich investors don't care. What would you do if you were me??? I need help!! Last resort...



* this reviewer has be with this bank for 6 months - 1 year
* this reviewer had 1 - 2 banks before.
* this review was made on PrinsBank, Champlin Branch at Champlin, MN
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