Frustrated Owner Bulldozes Home Ahead Of Foreclosure

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posted on Feb, 19 2010 @ 02:40 AM
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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.



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Simply awesome.




posted on Feb, 19 2010 @ 02:51 AM
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GREAT FIND!

Stupid bankers just lost out.



posted on Feb, 19 2010 @ 02:59 AM
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The banksters have no one to blame but themselves.



posted on Feb, 19 2010 @ 03:02 AM
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That is freaking awesome!

Since he bulldozed his home, then it's no longer worth the same amount of money. So he won't have to pay the taxes...right?



posted on Feb, 19 2010 @ 03:07 AM
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hehe!
same thing happened in iceland last year!



posted on Feb, 19 2010 @ 03:44 AM
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Wouldn't the bank sell his $350 000 home (for less of course for a quick sale), take the $160 000 he owes, plus the usual fees and charges then give him the rest? He would have been left with say $150 000 but a bulldozed house is only worth the land it once stood on which probably about equals the bank's share.

Seems like a silly move.



posted on Feb, 19 2010 @ 04:03 AM
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They are called Closed Bid Auctions were the Banks give away the house to the value of the sum owed, I have seen this happen and they don't care.



posted on Feb, 19 2010 @ 04:17 AM
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Originally posted by OZtracized
Wouldn't the bank sell his $350 000 home (for less of course for a quick sale), take the $160 000 he owes, plus the usual fees and charges then give him the rest? He would have been left with say $150 000 but a bulldozed house is only worth the land it once stood on which probably about equals the bank's share.

Seems like a silly move.


*laugh* *laugh* in a perfect world yes.



posted on Feb, 19 2010 @ 04:26 AM
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Excellent!

I wish more people would stand up and fight the powah.



posted on Feb, 19 2010 @ 04:49 AM
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This could backfire.

If the bank employs a devilish lawyer, they could argue that it was their house (the bank that is) all along since he hadnt paid it off, and by bulldozing it destroying their property.
He could be charged with malicious injury of property



posted on Feb, 19 2010 @ 05:11 AM
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reply to post by Dynamitrios
 


It could backfire, of course, but some things in life are worth getting a criminal record for...

Trust me i know



posted on Feb, 19 2010 @ 05:33 AM
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Simply awesome! To heck with those bankster S.O.B.s! I am sorry he had to loose his home but I like his solution! I would do the same whether it hurt me or not, as long as it hurts the bank and sends a message of rebellion to others!



posted on Feb, 19 2010 @ 05:35 AM
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Wow, two solid shots of the revolution on the same day: the Austin Protest-by-Plane and this.

It is going to be an interesting year



posted on Feb, 19 2010 @ 05:56 AM
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He is brave men - bit stupid to take mortgage, but 80% of western population was fooled. I'll continue with banksters houses ... nothing to loose know ... What is pity that average populace will not get the message - he will be just another nut in the world. At least here in Czech Rep. - not sure how popular mood is evolving in US. Sometime i think revolution is just starting, then I look again and see old good McAmerica ...



posted on Feb, 19 2010 @ 07:45 AM
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My sister short sold her house 4 years ago 9K$ less than the almost 300k$ the bank was owed. She got a letter 2 weeks ago that they want 28k$ now for the 9 they lost . It sems they have 5 years to get their money back and they rolled it into a credit card type loan at 30% interest. She tried to takl and now she's going to sue because she has a letter from them saying the short sell would be the best thing for her to get out of debt. The lawyer thinks the bank is screwed because of the letter.


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posted on Feb, 19 2010 @ 07:54 AM
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Brilliant! I love reading stories about the "little guy" getting one over on the banks.

I'll share another one that hasn't made the papers - yet! I know of a guy who was also faced with foreclosure by his bank despite repeated attempts to refi through the Making Homes Affordable Program. He was repeatedly denied even though he met EVERY requirement laid out by the Obama Administration. He even attempted several short-sales which the lender denied each and every time. So, being painted in a corner he decided to employ a different strategy, which I think is simply brilliant.

He moved out of his house into an apartment and began dismantling his home and selling each and every piece and part through Craig's list, ebay, youpillar etc... Sold his kitchen cabinets, whirlpool tub, vanities, light fixtures, plumbing fixtures, appliances etc... He even carefully removed his solid hickory wood plank flooring and sold it as well - even down to the trim! When he finished with all of that, he peeled out every piece of copper pipe and electrical wire and sold it.

It was a beautiful 4K square foot home that he bought for almost $500K about 7 years ago - and he sold every single piece except for the frame, roof and foundation!
He made over $40K doing it, liquidated his retirement accounts and savings and went and bought a very nice, modest 3 bedroom home and paid cash! Finally, he mailed the keys to the bank along with a note stating: "Here is the key to your house - good luck f**kers!" According to him, everything he did was 100% legal as the "House" still remains.


I fully expect to start reading more and more and more stories just like this.


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posted on Feb, 19 2010 @ 08:56 AM
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My question is: If the government could give billions of dollars to bail out the bankers and the car companies with the taxpayers money, then why can't they help bail out the very people whose money they so freely give away?
The government is spending this country into oblivion and they don't give a sh*t about it's citizens, never did. The rich get richer and everyone else gets screwed!!!
I also see a lot more stuff happening this year. People are sick of losing everything they have worked their whole lives for......
I give a big thumbs up to this guy and his bulldozer....



posted on Feb, 19 2010 @ 08:57 AM
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I'm still waiting for the execs to start jumping off buildings....

I applaud the gonads of this guy. I think, as the above poster said, we'll see more and more of these things; the public is plain fed up of being bullied by the banks and corporations and the foul government!!!!


S&F for making my day...

P.S. love what the other guy did selling everything off to craigslist and ebay...Brilliant!!!!


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posted on Feb, 19 2010 @ 09:08 AM
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My wife is a R.E.O. specialist (bank owned properties). last year she had to take pictures of a home in foreclosure and when she arrived at the address there was no house just a lot. She checked tax records and yes there was a house at one time. So she started asking around and what do you know they jacked the house up and moved it. I don't know how you would report a house as stolen or where to look for it.



posted on Feb, 19 2010 @ 09:11 AM
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I am standing in my living room "clapping my hands" right now for this man. Simply outstanding and very patriotic. I can see it now. Bulldozer rentals going thru the roof over the next few months. Haaaah!





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