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HAS ANYONE READ THE ARTICLE?
Originally posted by brainwrek
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.
Originally posted by Scarcer
GREAT FIND!
Stupid bankers just lost out.
Originally posted by Emerald The Paradigm
reply to post by MrXYZ
2)The argument of "Don't take money out if you can't repay" is just plain stupid.
Originally posted by MrXYZ
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.
Originally posted by RedDragon
So, now that the house is destroyed, wouldn't that mean that the bank would make less profit by foreclosure than collecting on the $170,000 that Hoskins owes?
So, now it's in the bank's favor to just take Hoskin's 170k.
Before, he would have been down a house. Now, he's down a house and 170k.
Maybe I'm reading this wrong?
Originally posted by Ionized
Originally posted by MrXYZ
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.
The bank defrauded him by using his signature to 'create' the credit. The money is his in the first place, the bank only acts as the middle man between our signatures and the treasury.
"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."
Originally posted by MrXYZ
Originally posted by Ionized
The bank defrauded him by using his signature to 'create' the credit. The money is his in the first place, the bank only acts as the middle man between our signatures and the treasury.
No the money isn't his in the first place.
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.
Originally posted by amance
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
Originally posted by ViperFoxBat
The guy should have put the home up for sale by owner. Paid off what was owed to the bank and keep any equity built up. He would have had money in his pocket.
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.
Originally posted by Ionized
Originally posted by MrXYZ
Originally posted by Ionized
The bank defrauded him by using his signature to 'create' the credit. The money is his in the first place, the bank only acts as the middle man between our signatures and the treasury.
No the money isn't his in the first place.
The money is fiat, it is credit created by his signature in blue ink. Again, the bank is simply the middle-man between our signatures, and our Treasury accounts created for us at birth. The fraud is that we are led to believe we are borrowing the banks money, the reality is that the banks are giving us our own money, claiming it is theirs, and then charging extra interest.
Originally posted by MrXYZ
Originally posted by Ionized
Originally posted by MrXYZ
Originally posted by Ionized
The bank defrauded him by using his signature to 'create' the credit. The money is his in the first place, the bank only acts as the middle man between our signatures and the treasury.
No the money isn't his in the first place.
The money is fiat, it is credit created by his signature in blue ink. Again, the bank is simply the middle-man between our signatures, and our Treasury accounts created for us at birth. The fraud is that we are led to believe we are borrowing the banks money, the reality is that the banks are giving us our own money, claiming it is theirs, and then charging extra interest.
"Our treasury accounts"? Dude, have you ever opened an economics book? There is so such thing, we live in a capitalistic world, not a communist world where the government "provides for you".
It's not like the bank goes to the treasury and they just get $100bil to play with...except for the recent bailout, and even that had to be repaid.
Go to the bookstore, and buy an economics book. There is no "fraud" or consipracy here. It's all basic economics.
Originally posted by JohnnyR
Originally posted by MrXYZ
Originally posted by Ionized
Originally posted by MrXYZ
Originally posted by Ionized
The bank defrauded him by using his signature to 'create' the credit. The money is his in the first place, the bank only acts as the middle man between our signatures and the treasury.
No the money isn't his in the first place.
The money is fiat, it is credit created by his signature in blue ink. Again, the bank is simply the middle-man between our signatures, and our Treasury accounts created for us at birth. The fraud is that we are led to believe we are borrowing the banks money, the reality is that the banks are giving us our own money, claiming it is theirs, and then charging extra interest.
"Our treasury accounts"? Dude, have you ever opened an economics book? There is so such thing, we live in a capitalistic world, not a communist world where the government "provides for you".
It's not like the bank goes to the treasury and they just get $100bil to play with...except for the recent bailout, and even that had to be repaid.
Go to the bookstore, and buy an economics book. There is no "fraud" or consipracy here. It's all basic economics.
Then where does the bank get the money to loan to people?