Providence Bank Reviews (3)

I really wish I could leave a better review. I honestly wish my experience was completely different.
But I have to admit that I would not recommend Providence Bank or their lender, Laura Kogut, to anyone.

Here's my experience:
My husband and I put our house on the market and quickly got an offer from her client, which we accepted. How exciting, right?!!
We were told that we could not close on the house for over 60 days because they had to verify funding. That's a long time to wait! But we decided since they were pre-qualified we would proceed anyway.

9 days before closing they withdrew the offer. ????

Come to find out the bank and the lender failed to review the file for 50+ days. They realized their client couldn't afford the house and they could only approve them for $80,000 LESS than the original offer.

We waited for so long ????

It's 3 weeks before Christmas and all I can think is I just wish we would've had more heads up.

It shouldn't have taken 9 weeks to this figure out.

Unfortunately this has put my family in a financial bind. It may have even put their client in a bind, too.

I just want to do my due diligence of sharing my story and give anyone fair warning about partnering with Providence Bank.
It seems like not much care is put in being transparent with clients and may possibly put you in a hard position just like us.

DO NOT USE THIS BANK. I took out a CD and got the contract, but Providence reneged on the contract and did not compensate me for their early retirement as they would charge me if I were to withdraw.

This bank does not honor Lineal Decent and they tried to back out of their contract. They charge a $50 fee and 6 month penalty if you try to back out.