Frustrated Owner Bulldozes Home Ahead Of Foreclosure

[Rael]

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.

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.

[pcosmar]

Somehow I expect to see a whole series of unrelated and isolated incidents.

[theclip]

This story was following the plane-crash story in every outlet; much like a 'Taliban leader captured' story following a 'car-bomb' story, if you care for the pattern.

[Lovecraftian4Paul]

Here's to unorthodox resistance! Sometimes these problems are the borrower's fault, but on the whole, I would have to say screw the banks. They are doing more damage to this country than a few delinquents.

[Badger Paul]

This is a heck of a lot different than someone deliberately crashing a plane into a building to kill people. I applaud the guy. Screw the bank.

[pcosmar]

I am reminded,

YouTube - Armored bulldozer on rampage (http://www.youtube.com/watch?v=oiLLgHVzxf8)

http://en.wikipedia.org/wiki/Marvin_Heemeyer


Fate of the bulldozer

On April 19, 2005, it was announced that Heemeyer's bulldozer was being taken apart for scrap metal.[8] It was planned that individual pieces would be dispersed to many separate scrap yards to prevent admirers of Heemeyer from taking souvenirs.[8]

He killed no one but himself.

http://www.sydesjokes.com/pictures/t/the_last_great_act_of_defiance.jpg

[Matt Collins]

This article is horribly lax on details.


But my guess is that he will probably be sued because if he doesn't own the home (the bank does) then he is destroying someone else's property.

[theclip]

I just feel like texting this guy..

You did it wrong..

Google: larry silverstein

[pcosmar]

This article is horribly lax on details.


But my guess is that he will probably be sued because if he doesn't own the home (the bank does) then he is destroying someone else's property.

Likely true.
But neither will they profit at his expense.

[lx43]

The mortgage company, if it was smart, had insurance on the house to protect it from something of this nature. In the end, the bank will still make money off this deal.

[libertarian4321]

Here's to unorthodox resistance! Sometimes these problems are the borrower's fault, but on the whole, I would have to say screw the banks. They are doing more damage to this country than a few delinquents.

If the guy had paid his bills, as he agreed to do, there wouldn't be a problem.

Banks don't foreclose on people who do the right thing and pay what they owe.

Maybe if this psycho had spent as much time trying to figure out how to pay his bills as he did trying to think of crazy ways to "screw the man," none of this would have been necessary.

[Vessol]

If the guy had paid his bills, as he agreed to do, there wouldn't be a problem.

Banks don't foreclose on people who do the right thing and pay what they owe.

Maybe if this psycho had spent as much time trying to figure out how to pay his bills as he did trying to think of crazy ways to "screw the man," none of this would have been necessary.

Usually there is a lot more reasons then just incompetence during a foreclosure.

[muzzled dogg]

lol awesome

[catdd]

Viva La Revolution!!!

[phill4paul]

If the guy had paid his bills, as he agreed to do, there wouldn't be a problem.

Banks don't foreclose on people who do the right thing and pay what they owe.

Maybe if this psycho had spent as much time trying to figure out how to pay his bills as he did trying to think of crazy ways to "screw the man," none of this would have been necessary.

Maybe you missed this part....


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.

Maybe it was the implosion of the economy. Caused by politicians and banking institutions or the devaluation of the dollar by the Fed.

As for me, I approve of his alternate actions in exercising his majority stake in the property.