Frustrated Owner Bulldozes Home Ahead Of Foreclosure
http://www.wlwt.com/news/22600154/detail.html
Man Says Actions Intended To Send Message To Banks
POSTED: 10:42 am EST February 18, 2010
MOSCOW, Ohio -- Like many people, Terry Hoskins has had troubles with his bank. But his solution to foreclosure might be unique.
Hoskins said he's been in a struggle with RiverHills Bank over his Clermont County home for nearly a decade, a struggle that was coming to an end as the bank began foreclosure proceedings on his $350,000 home.
"When I see I owe $160,000 on a home valued at $350,000, and someone decides they want to take it – no, I wasn't going to stand for that, so I took it down," Hoskins said.
Bulldozed Home Photos
Hoskins said the Internal Revenue Service placed liens on his carpet store and commercial property on state Route 125 after his brother, a one-time business partner, sued him.
The bank claimed his home as collateral, Hoskins said, and went after both his residential and commercial properties.
Hoskins said he'd gotten a $170,000 offer from someone to pay off the house, but the bank refused, saying they could get more from selling it in foreclosure.
Hoskins told News 5's Courtis Fuller that he issued the bank an ultimatum.
"I'll tear it down before I let you take it," Hoskins told them.
And that's exactly what Hoskins did.
Man Says Actions Intended To Send Message To Banks
The Moscow man used a bulldozer two weeks ago to level the home he'd built, and the sprawling country home is now rubble, buried under a coating of snow.
"As far as what the bank is going to get, I plan on giving them back what was on this hill exactly (as) it was," Hoskins said. "I brought it out of the ground and I plan on putting it back in the ground."
Hoskins' business in Amelia is scheduled to go up for auction on March 2, and he told Fuller he's considering leveling that building, too.
RiverHills Bank declined to comment on the situation, but Hoskins said his actions were intended to send a message.
"Well, to probably make banks think twice before they try to take someone's home, and if they are going to take it wrongly, the end result will be them tearing their house down like I did mine," Hoskins said.
Argh! I swear the "search" function does not work for me
sorry to repost the same story!
I searched for "bulldoze" and it did not bring this up for me. I dunno!
For Terry:
http://www.youtube.com/watch?v=UVkBO_OlII0
Truth exists, and it deserves to be cherished.
Another tactic when banks get greedy
If your car is being repossessed take it apart and sell it in pieces. I don't know how much of it you have to keep for it to still be called a car but you could sell pieces of it and leave only a carcuss for the bank to repo. And the insurance would not apply since it wasn't damaged. Take that greedy bankers!
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hmmm...
job creation... or so say the Keynesians.
;)
I think I know this guy
If it is the same Terry I buy carpet from. The Terry I know is a great guy. Treats me right everytime I get carpet for my apartment building. I will have to see if it is him.
_________________
Want Ron Paul? Register Republican Now
The guy owed $160k and had a
The guy owed $160k and had a willing buyer at $170k... and the bank refused? How could they do that? I wouldn't think it was their choice.
...
Made my day!
Good thinking!
I don't know the whole story,
I don't know the whole story, but...
The first thing I thought of was Ellis Wyatt in Atlas Shrugged.
That was one of the coolest parts in the book.
Awesome
Awesome awesome awesome awesome awesome. huge freakin balls. hope this catches on.
A man who thinks for himself
Take that you banksters!
"GINO" = Government In Name Only
You really can't blame him...
Hoskins said he'd gotten a $170,000 offer from someone to pay off the house, but the bank refused, saying they could get more from selling it in foreclosure.
I guess they'll get the value of the property now, on the money that they created from nothing to loan him so that he could pay interest on it.
It's too bad that the bank's loss on the loan you and I will pay for.
We should someday fix that issue.
:)
~Live life to its fullest, with an open heart, open arms and most important... an open mind~
Now that's what I call
Now that's what I call thinking outside of the box!
There is no Left or Right -- there is only freedom or tyranny. Everything else is an illusion, an obfuscation to keep you confused and silent as the world burns around you." - Philip Brennan
"Invest only in things that you can stand in front of and pr
HOLY CRAP!!!!
A huge LOL bump.
Having said that ...
Something doesn't jive with this story.
It is his house, he could sell it if he wanted to.
Why did he have to get permission from the bank to sell his house?
WAHOR!!
http://www.dailypaul.com/node/48994
It wasn't his house it
was the banks house and once they proceeded with the foreclosure process he needed their approval because it would be considered a short sale. But I may be wrong.
Actually , if the banksters were honest....
it would be half his and half theirs.
But that man should play the tyrant over God, and find Him a better man than himself, is astonishing drama indeed!~~D. Sayers
There is no difference between an authoritarian government from the right or the left...F. A.Schaeffer
Don't get me wrong
I applaud him for dozing his house. And it doesn't matter if the banksters are honest or not he signed the papers (contracts) like many of us do.
Selling his house or giving it back to the bank is still the same thing. He is without a house.