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Frustrated Owner Bulldozes Home Ahead Of Foreclosure
 First we find out about the guy runs his plane into the IRS building in Dallas a couple of days ago, now we find out about this event that happened a couple of weeks ago. It'll be interesting to see if this kind of activity picks up or if it's just a coincidence.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. 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. Bad advice from his lawyer when he and little bro' set up their partnership ... "The average homeowner that can't afford an attorney or can fight as long as we have, they don't stand a chance," he said. Hoskins said he'd gotten a $170,000 offer from someone to pay off the house, but the bank refused, saying they could get more from selling it in foreclosure. Greedy little ba$tards, aren't they? 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. So did the bank do the wise thing? And that's exactly what Hoskins did. I guess not. 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. OK, looks like the bank gets a second chance. Let's see what they do with it. Can anyone give me a spread here? RiverHills Bank declined to comment on the situation, but Hoskins said his actions were intended to send a message. Banks have deaf ears, Hoskins, as I'm sure you are aware of by now. So tell me, who is your real target audience? "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. Hoskins said he's heard from people all over the country since his story first aired Thursday, and he said most have been supportive. Any calls from any banks? He said he sought legal counsel before tearing down his home and understands the possible consequences, but he has never doubted his decision once he made it. It'll cost them another $40k/year to stick him in the pokey, and I doubt they have the money. "When I knew I was going to lose it, I decided to take it down," Hoskins said. Yep, you lost it alright! :-) Posted by: gorb 2010-02-20 |
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