Tev
02-22-2010, 06:05 PM
Every day I am amazed and entertained at the lengths people will go to prove a point. (http://www.wlwt.com/news/22600154/detail.html)
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.
Anyway, long story short, the bank was going to take the guy’s house and wouldn’t work with him on the payments so he gave them the finger and demolished the place a week or so before they could foreclose on it. He’s also considering doing the same to his businesses office buildings that the IRS is trying to take away from him.
This combined with the people that are flat out abandoning their underwater mortgages in “strategic default” moves has really been an eye opener recently for Big Business. Slowly people are learning that the only thing keeping them from screwing The Man over is their own sense of guilt. And in these troubled times, guilt is running scarce.
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.
Anyway, long story short, the bank was going to take the guy’s house and wouldn’t work with him on the payments so he gave them the finger and demolished the place a week or so before they could foreclose on it. He’s also considering doing the same to his businesses office buildings that the IRS is trying to take away from him.
This combined with the people that are flat out abandoning their underwater mortgages in “strategic default” moves has really been an eye opener recently for Big Business. Slowly people are learning that the only thing keeping them from screwing The Man over is their own sense of guilt. And in these troubled times, guilt is running scarce.