Mike
III
Frustrated Owner Bulldozes Home Ahead Of Foreclosure
Man Says Actions Intended To Send Message To Banks
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.
"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.
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.
Man Has No Regrets Over Bulldozing House
Hoskins said he's heard from people all over the country since his story first aired Thursday, and he said most have been supportive.
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.
"When I knew I was going to lose it, I decided to take it down," Hoskins said.
7 comments:
As I said on my blog, I want to buy this guy a beer. Hell yes...
Wow, scorched earth tactics...
He could have gone the route of Marvin Heemeyer (Wikipedia link: http://en.wikipedia.org/wiki/Marvin_Heemeyer) and used the bulldozer to level the bank as well.
These events are happening more frequently and it isn't even Spring yet. Wait until the heat of summer and a full moon for the real lunacy to begin!
ranamacar
Most freedom lovers will take a great deal of shoving, I suspect out a sense that the shove-or is free to their opinion. But at some definite point they will shove back.
There has been a lot of shoving, mostly one way, perhaps that point is coming up more quickly than many realize.
The resulting push back could possibly unleash that smoldering anger hidden so long under a thin layer of soil that burst brightly into flame upon receiving more oxygen.
It might not be pretty at the time, but when the fire is past and the rain comes, the grass in much the greener for it.
If you don't want to lose your home and business, don't put them down as collateral on a loan.
"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."
That's the key. The way it works is that tax dollars are used to reimburse the banks for the difference between what has already been paid and what the Maximum value of the property WAS, not is. They are raking in double the amount by insisting on foreclosure -- let me repeat: they are using our tax money to encourage the banks to foreclose instead of assisting the struggling tax payer homeowner to keep their home.
Mr. Soros is behind this in a big way. He needs to be on the deck of cards - it may be a Canasta size deck but he still needs to be on it - he won't be lost in the shuffle if you know what I mean..
This bank bailout nonsense was un-Constitutional but if it had to be passed why wasn't it aimed at giving the tax derived money back to the homeowners to save their homes and their lives? The banks would have gotten paid and the people would have gotten something out of it. But, NO... Double the swag to the banks, kick the people out into the streets and screw the Republic - which is the main goal after all is said and done.
The tipping point was passed a long time ago and for what the elitists and their lackeys are about to receive may their thankfulness be short lived.
De Oppresso Liber
bacsi
He tried reason they tried theft.
They lost!
I would love to be on a jury called to judge him. Even if all I could do was Hang the jury.
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