02-23-2010, 10:44 PM #1
Man bulldozes $350K home to avoid foreclosure
Is this bizarre enough for you? Terry Hoskins says he has struggled with the RiverHills Bank over his home in Moscow(Ohio) for years and had problems with the IRS. He says the IRS placed liens on his carpet store and commercial property and the bank claimed his house as collateral. He owes $160,000 on the house, says he spent a lot of money on attorneys and finally had enough.
Aerial "Before" pictures show a nice house in a beautiful setting. I wonder what, if any, charges will be made against the man.
02-23-2010, 10:50 PM #2
Unfortunately the house being gone isn't going to erase his debts. Kind of like if a house burns down without any insurance. I too wonder what kind of charges he might face. I doubt he had any city permits to demolish the home.
02-23-2010, 11:25 PM #3
It's a rural area. He probably wouldn't need a permit. I don't see how there could be any criminal charges brought against him since the ownership of the house was still in his name. Now that's some anger. Least he wasn't a pilot.
Last edited by justthinkin; 02-23-2010 at 11:27 PM.
02-24-2010, 06:51 AM #4
I kinda like this guy. He chose a nonviolent solution for revenge. Destructive yes, but all he hurt was a nice house that was still his property.
02-24-2010, 03:17 PM #5Registered User
- Join Date
- Aug 2008
This link says he offered to pay them what he owed and they refused saying they would make more off of foreclosure.
I feel for this man it had to be alot of heartache for him to do that. I also feel for others who go though this without the access to a bulldozer.
02-24-2010, 03:43 PM #6
This is crazy, sad, and infuriating.
He now does not have a house, still has a debt.
He can go bankrupt.
then start over.
I don't know if selling was a solution? sometimes it is not, because you dont get the price today.
I don't know if the bank can refuse payment assuming he was willing to pay
this is a crazy story for sure.Women are Angels.
And when someone breaks our wings,
we simply continue to fly... on a broomstick.
We're flexible like that.
03-03-2010, 05:23 AM #7
This served no purpose since he still owes the debt but to release
his anger and I'm sure he was frustrated over the whole situation.
A sad state of affairs, to say the least.
03-03-2010, 08:21 AM #8Registered User
- Join Date
- Mar 2006
- east coast
I doubt he is the only one who is feeling this way at this time.. there are so many that are struggling and I cant imagine how frustrating it would be to try every possible solution and have the irs fjust disregard it so that they can make more money..
believe me after spending the last yrs fixing my house and still not able to sell, trapped still financially tied to my ex who's life is imploding financailly and other wise.. I can relate i giess to how frstrated this man was to reach this point.
03-03-2010, 08:35 AM #9
Interesting to see that he built this house. Wonder what exactly that means...is he a contractor? architect? developer? or just the original owner?
And if the bank forecloses, isn't the debt forgiven? They got back their collateral. He can't give up the house AND still owe the money. Right? I mean, if a car is repossessed you don't keep making payments unless you are trying to get it back. Right?
Hoskins said he used a bulldozer two weeks ago to raze the home he built decades ago.
"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."
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