#1 Frustrated Owner Bulldozes Home Ahead Of Foreclosure
02-19-2010, 06:30 PM
- Join Date
- Aug 2005
MOSCOW, Ohio --Like many people, Terry Hoskins has had troubles with his bank. But his solution to foreclosure might be unique.snip
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.
"I'll tear it down before I let you take it," Hoskins told them.
And that's exactly what Hoskins did.
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