Homeowner bulldozes foreclosed home

[Bob]

Frustrated Owner Bulldozes Home Ahead Of Foreclosure - Cincinnati News Story - WLWT Cincinnati 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.

 

[Bob]

very creative

 

[Matt J]

Doze baby Doze!

 

[Gidget]

I totally understand the frustrations of many people who have played by the rules and gotten the short end of the stick. And I like it when people take a stand for the little guy. Having said that, I too saw this on google headlines and after reading several comments and other articles I do not think of him as any sort of Robin Hood or hero. I think he is using our tough times to get out of something HE got himself into. That's just MHO. AND I hate to see waste. I could no more destroy something I built - no sir!! Couldn't do it.

G

 

[scooterbug44]

This guy didn't just have an issue because of the recent economy - he's been fighting w/ the bank for a DECADE. :roll:

 

[Gidget]

I think we will find out more as this unfolds. He was sued by his former business partner, his brother (and he lost -thus some of his inability to pay back the loan - he put his house down as collateral), he had problems with IRS, and he destroyed a home that he built. Anyone who could destroy something he built (as I said before) gets an eyebrow raise from me.

I know people right now who have had their homes taken from them and it is rotten that there are unscrupulous banking practices that do such things. But something about this instance seems different - just like flying a plane into a building due to IRS. Of course, this doesn't rightly compare (no loss of life) but it is still an act of destruction.

We'll see what more comes from this.

G

Frustrated Owner Bulldozes Home Ahead Of Foreclosure - Cincinnati News Story - WLWT Cincinnati lots of interesting comments at the end of this write-up.

 

[Minnie]

The comments are always more interesting and sometimes more informing than the article.

 

[Gidget]

Another interesting blog about Terry and the house he bulldozed. I don't know why this interests me so ...

Terry Hoskins, the Ohio man who destroyed his own home in a squalid fight among himself, his brother, and the bank to which he owed money on the the house and two other properties, is getting a full AmericanHomeowner treatment in the media.

But Hoskins is in no way representative of the "out-of-work homeowners" who in President Obama's words just need "help [to] find a way to pay their mortgages that works for both the borrowers and the lenders alike." He was well above water on the $350,000 home. He claims never to have missed a payment on the house: RiverHills Bank is foreclosing because somebody, presumably brain-sucking space aliens, used the house as collateral for loans on some commercial properties Hoskins bought. And Hoskins' defaults on his payments have little to do with the post-2006 real estate deflation. They spring from a 10-year legal battle that involved RiverHills Bank, the IRS, and Hoskins' brother, a former business partner.
So I'm inclined to agree with WLWT commenter madcastler, who writes, "[D]on't loan Hoskins any money. He will stiff you, destroy the collateral, and then go on the evening news and act like he's a hometown hero for not surrendering the collateral to you as he promised. Of course, in reality, he is an immoral person who has just raised the cost of doing business for other entrepreneurs. I'm just warning you in case you actually believe in this guy."
​

That's kinda my take on the whole thing.



On a side note, It is COLD again! UGH :angry:



G

 

[Matt J]

Maybe the bank can have hime charged with destruction of property?

 

[Gidget]

I hope that all will end on the best note possible for all parties.

I have to give him some credit in that AT LEAST he didn't go really nuts and go on a shooting spree at the bank. Thank goodness for that.

Crazy world.

G