Frustrated Owner Bulldozes Home Ahead Of Foreclosure

page: 2
53
<< 1    3  4  5 >>

log in

join

posted on Feb, 19 2010 @ 09:16 AM
link   

Originally posted by Common Sense says...
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!


May be time for me to buy a couple of bulldozers and open up a rental place for them, lol.




posted on Feb, 19 2010 @ 09:17 AM
link   
OH man does this ever remind me of the 'killdozer.'

I wonder if the bank will release a statement about it.

Anyways, here is a vid of the killdozer in action.



Here is a 10 min news chopper vid of it.



posted on Feb, 19 2010 @ 09:20 AM
link   
reply to post by sporkmonster
 


I remember this guy. He worked for like six months to make his dozer into a tank and took out the town over a dispute with the city council. Weird stuff happens in America. Really weird stuff indeed.



posted on Feb, 19 2010 @ 10:05 AM
link   
Did anyone take the survey on that new site? Overwhelming approval for the man's actions!



Also, at least in Texas, if the bank has not yet evicted the man, the house is his. The bank simply holds a lein against the house. The worst he would face is a fine for demolition without a permit.



posted on Feb, 19 2010 @ 10:50 AM
link   
[edit on 19-2-2010 by kennylee]



posted on Feb, 19 2010 @ 11:24 AM
link   
Its about damn time we started standing up for ourselves. The government and these banks dont care if we have to live in the streets and its painfully evident. I see some pitchforks and torches in our future friends.

MessOnTheFED!



posted on Feb, 19 2010 @ 11:38 AM
link   
*claps for this guy* Way to go!

Great story kozmo! And hillbilly4rent that's hilarious!

S&F



posted on Feb, 19 2010 @ 11:48 AM
link   
Let's review the facts from the article.

1.) He claims that his house is worth $350,000.
2.) He has a $160,000 mortgage.
3.) This has been going on for 10 years.

He suddenly decides to level the house.

I can only conclude that he is an idiot.
He could easily have delayed the bank and sold his house for a little less then it's worth or his house was only worth a little more than his mortgage.

If you read your mortgage papers, most loans make you responsible for the money even if the property drops below the value of the loan.

So, he still owes the bank $160,000.

At first look, I laughed at his outrageous action, but I think that he just caused himself more harm than good. He will end up with nothing.



posted on Feb, 19 2010 @ 12:01 PM
link   

Originally posted by DOADOA

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.


That is actually correct. By law, if the forclosed is auctioned off for more than what was owed, the owner is entitled to that money.

I know lawyers who actually make money hanging out at auctions, looking for this exact scenario, then going to the former owner and offering to get their money for them.....for a percentage of course.

edit to add:

There is also the opposite scenario, in which the house auctioned for less than what was owed, where the bank can then sue the owner.

So yes, if this guy's house would've sold for more than he owed at the auction then he would've profited and been happy he didn't bulldoze his house. But there is no guararentee that it would've sold for a profit.

[edit on 2/19/2010 by yadda333]



posted on Feb, 19 2010 @ 12:10 PM
link   
What a stupid little man, lol. If he had a mortgage on his house, his house acts as collateral in case he can't pay his fees...which is what happened. Even if he destroys the house, he still owes the bank a house. It won't be easy for the bank to reclaim the house or an equally valuable amount...but he'll lose his credit rating, and might even go to jail. Great move, lol.

It's the same when you lease a car. If suddenly you can't pay your monthly fees anymore, you will not save yourself by destroying the car. You still owe the bank or leasing company money, and that just won't go away.

Retarded idea by an uneducated person.



posted on Feb, 19 2010 @ 12:11 PM
link   
exellent story...wish i had done that when i lost my house because the bank was impatient ,and would not wait for 9 months .......good on him...



posted on Feb, 19 2010 @ 12:17 PM
link   

Originally posted by Common Sense says...
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!


It has nothing to do with patriotism, lol. It's a stupid move that will ultimately cost him a lot of money. Dunno about you, but imo patriotism is the same as stupidity



posted on Feb, 19 2010 @ 12:21 PM
link   
I am no fan of the banks, but many of the people that are facing foreclosure do not deserve sympathy. These people bought houses they should have known they could not afford while prudent people like myself sat on the sidelines and rented.



posted on Feb, 19 2010 @ 12:25 PM
link   

Originally posted by hotpinkurinalmint
I am no fan of the banks, but many of the people that are facing foreclosure do not deserve sympathy. These people bought houses they should have known they could not afford while prudent people like myself sat on the sidelines and rented.


If a bank goes bankrupt, and the government bails it out or they screw over their creditors...the people are crying, and rightfully so imo.

If a private guy goes bankrupt and can't pay his mortgage, and then screws over his creditor...the people cheer and call it patriotism.

Double standards ftw



posted on Feb, 19 2010 @ 12:30 PM
link   
He should have bulldozed the bank. Or maybe the banker's house, now that would be epic. The bank will probably end up suing him for the money he owes. If they do, I really hope he uses the tried-and-true "Make the payment entirely in pennies just to make a point" trick.



posted on Feb, 19 2010 @ 12:30 PM
link   
Funny thing is this:

The banks DON'T CARE if the guy bulldozes his house because the banks DON'T need the money.

The banks PRINT Money, so they have an Unlimited amount.

The only thing "important" about this news is the fact that people are REFUSING to be SLAVES!

It's not about the house, it's about the actions of refusal to live as a slave, and telling the banks to screw itself.



posted on Feb, 19 2010 @ 12:31 PM
link   
You know what, the bank will probably get the money out of the land, if it's at least an acre, I know they will...he will probably go to jail, but you know what? All in all it may make banks more considerate of lendees, mortgageholders, etc...they may actually try to start helping people keep their homes instead of trying to foreclose? That is the benefit I see in his act.


MBF

posted on Feb, 19 2010 @ 12:34 PM
link   

Originally posted by yadda333


That is actually correct. By law, if the forclosed is auctioned off for more than what was owed, the owner is entitled to that money.



That may be the law, but it isn't how it works around here. The bank will take it back and will sell it to a friend for way less than is owed, charge the former owner and sell the house and make more money. Another thing is they will inflate the amount that is owed to some stupid amount so nobody can afford to buy it except their people and when it is done, for some reason, paperwork disappears. I have NO sympathy for the banks, they could and should work with these people to keep their homes. When they do stuff like this, word gets around and hurts their business in the long run. People, the revolution has begun. We are tired of being crapped on and people are taking matters into their own hands.



posted on Feb, 19 2010 @ 12:36 PM
link   

Originally posted by Emerald The Paradigm
Funny thing is this:

The banks DON'T CARE if the guy bulldozes his house because the banks DON'T need the money.

The banks PRINT Money, so they have an Unlimited amount.

The only thing "important" about this news is the fact that people are REFUSING to be SLAVES!

It's not about the house, it's about the actions of refusal to live as a slave, and telling the banks to screw itself.


First of all, it's not the banks who print the money, it's the FED. So the bank only acts as a creditor. Basically, you could ask your friend for a loan, and he'd give it to you for some nice low interest rate. In that case, your friend would act in the exactly same role as the bank.

The bank never forced the guy to live as a "slave". The guy obviously overstimated himself (just like thousands of other stupid people) and took a loan he can't repay. He OWED the money the bank because they gave him money, simple as that. If someone owes you money, no matter who it is, you OWE it to them to pay it back. You can't just simply refuse and walk away.

If you disagree, I'd like to know in what fantasy world you live...I might come and join you. Who wouldn't want to live in a world where people give you stuff for free, right?



posted on Feb, 19 2010 @ 12:39 PM
link   
reply to post by MrXYZ
 


Two things:

1)The banks can and do print money. They work with digital numbers and can manipulate whatever they want. This is why when whistle blowers come out all of a sudden their debit cards don't work, their banks have $0 in them, etc.

The banks CONTROL the money supply, who's pulling the strings? That is debatable.

2)The argument of "Don't take money out if you can't repay" is just plain stupid.

Because if this was the case, then the majority would not buy houses, go to colleges, get cars, or buy anything that's out of their budget range.

It's the DEBT that is the SCAM, not the other way around.





new topics

top topics



 
53
<< 1    3  4  5 >>

log in

join