Local business owner speaks out about his ongoing lawsuit with St. Landry Homestead Bank
Hubert Vidrine currently in Federal Bankruptcy Court, claiming foul play against the local bank
LAFAYETE (KADN) — It's one man's word against his bank. St. Landry Homestead filed a lawsuit against Hubert Vidrine for falling behind on his loan payments, but he says he's the victim.
"The bank was appraising their properties fairly, or high, when they were giving you the loan and then a few years later they say, ah well we decided we're going to re-appraise you and de-value your property. Overnight I lost about sixty percent of my value," says Hubert Vidrine, local business owner.
It's a loss that he tells me is enough to put anyone under water, and it did.
"They put us in a situation of survival mode. Instead of progressing, we just survive," says Vidrine.
Vidrine was fed up so he filed a countersuit claiming foul play. After the case has been in and out of court, it's finally in the hands of a federal judge.
I was able to speak with the president of St. Landry Homestead, Kit Bertrand. Although he's been advised not to speak on this because it is still in litigation, he does seem confident that the documents within the case will side with St. Landry Homestead. And although the case hasn't come to a close, Vidrine hopes this whole mess is just a warning to his community.
"Be careful of the banks. Sure you got good banks and you got bad banks just like anything else, but be careful of what your signing and be careful of who you're dealing with," says Vidrine.