Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Frustrated Owner Bulldozes Home Ahead Of Foreclosure
WLWT ^ | 18 Feb 2010 | Staff

Posted on 02/19/2010 10:08:00 AM PST by AreaMan

Frustrated Owner Bulldozes Home Ahead Of Foreclosure

Man Says Actions Intended To Send Message To Banks

POSTED: 10:42 am EST February 18, 2010
UPDATED: 10:02 am EST February 19, 2010
MOSCOW, Ohio -- 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.

Bulldozed Home Photos

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.

  SURVEY
What do you think about what Terry Hoskins did?
Good for him
Not a good idea
He should be prosecuted
The bank claimed his home as collateral, Hoskins said, and went after both his residential and commercial properties.

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.

Man Says Actions Intended To Send Message To Banks

The Moscow man used a bulldozer two weeks ago to level the home he'd built, and the sprawling country home is now rubble, buried under a coating of snow.

"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."

Hoskins' business in Amelia is scheduled to go up for auction on March 2, and he told Fuller he's considering leveling that building, too.

RiverHills Bank declined to comment on the situation, but Hoskins said his actions were intended to send a message.

"Well, to probably make banks think twice before they try to take someone's home, and if they are going to take it wrongly, the end result will be them tearing their house down like I did mine," Hoskins said.

The bank claimed his home as collateral, Hoskins said, and went after both his residential and commercial properties.

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.

Man Says Actions Intended To Send Message To Banks

The Moscow man used a bulldozer two weeks ago to level the home he'd built, and the sprawling country home is now rubble, buried under a coating of snow.

"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."

Hoskins' business in Amelia is scheduled to go up for auction on March 2, and he told Fuller he's considering leveling that building, too.

RiverHills Bank declined to comment on the situation, but Hoskins said his actions were intended to send a message.

"Well, to probably make banks think twice before they try to take someone's home, and if they are going to take it wrongly, the end result will be them tearing their house down like I did mine," Hoskins said.



TOPICS: Business/Economy; Crime/Corruption; Culture/Society; US: Ohio
KEYWORDS: crime; economy; housing; ohio
Navigation: use the links below to view more comments.
first previous 1-20 ... 41-6061-8081-100101-106 next last
To: xjcsa
criminal damage and defrauding a secure creditor
81 posted on 02/19/2010 11:43:06 AM PST by Getsmart64
[ Post Reply | Private Reply | To 8 | View Replies]

To: nevergore

The home was legal collaterol for the loan, his destruction of the home is an act of fraud, he even admits it is to cheat the bank out of it’s money owed...


82 posted on 02/19/2010 11:43:38 AM PST by Wpin (I do not regret my admiration for W)
[ Post Reply | Private Reply | To 16 | View Replies]

To: AreaMan

It appears to me that some one else wanted his home....and that is why the banks were not cooperating with him....duhhh!


83 posted on 02/19/2010 11:43:50 AM PST by Bullfrogg (American by birth, Irish by heritage, and hellraiser by choice)
[ Post Reply | Private Reply | To 1 | View Replies]

To: AreaMan

This can still be worked out and everything will be fine. All Mr.Hoskins has to do is offer his home in its present condition to the city of Detroit. They will in turn with Barack Hussein Obama’s blessing buy it from him for the full value of $350.000 with stimulus money. After the sale is closed they will offer it up for sale to someone who would be willing to rehab it for the sum of $1.00 and all will be fine. In its current bulldozed condition it is still in better shape than most of Detroit’s public housing.


84 posted on 02/19/2010 11:43:52 AM PST by cquiggy
[ Post Reply | Private Reply | To 1 | View Replies]

To: SnakeDoctor

“Paying off the loan with the proceeds of the sale will clear the title.”

Not sure how that would have solved his business debts.

If someone/institution offered to pay off his mortgage for $170k, then he no longer can be the title holder, and would have still been forced to either vacate the property, or rent it out from the new owner.

And, with his home listed as collateral, there is no way for any other buyer to assume ownership of his property, even if they purchased it by paying off the mortgage balance - can’t transact the sale of the property if their is a lien placed on it. In this case, it was the bank that had it listed as collateral against his business loans.

Times are tough, and small businesses are in a fragile state, but if this person overextended himself and made some bad decisions in retrospect, it is not the bank’s fault. He did offer to put up the house as collateral.

One avenue for providing relief to small businesses that are on the brink of default would be TAX RELIEF, assuming that they were not running their business in an incompetent manner.


85 posted on 02/19/2010 11:45:20 AM PST by motoman
[ Post Reply | Private Reply | To 73 | View Replies]

To: AreaMan

Wow. Talk about a damned fool. Oh, well ... he won’t have mortgage payments in prison, and the food is “free.”


86 posted on 02/19/2010 11:47:19 AM PST by r9etb
[ Post Reply | Private Reply | To 1 | View Replies]

To: nevergore
There is no jail term since the bank didn’t own the home yet....proceedings hadn’t gone through .....He will have civil proceedings filed against him that I expect he will cure with Bankruptcy....

They're not foreclosing on the structure, they're foreclosing on the loan, which no amount of bulldozing is going to erase.

What he did here, is destroy real property that the bank still owns.

He's going to jail. And deservedly so.

87 posted on 02/19/2010 11:49:39 AM PST by r9etb
[ Post Reply | Private Reply | To 16 | View Replies]

To: AreaMan

People are tired of getting pushed around by a non-responsive government and non-responsive corporations. I say good for Terry Hoskins!


88 posted on 02/19/2010 11:52:27 AM PST by DTogo (High time to bring back the Sons of Liberty !!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SnakeDoctor

Well, I can’t argue against speculation.

What you “know” apparently trumps facts.


89 posted on 02/19/2010 11:56:52 AM PST by IrishCatholic (No local Communist or Socialist Party Chapter? Join the Democrats, it's the same thing!)
[ Post Reply | Private Reply | To 68 | View Replies]

To: Noumenon
Got a copy of Send in the Waco Killers?
90 posted on 02/19/2010 12:01:52 PM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
[ Post Reply | Private Reply | To 33 | View Replies]

To: DonaldC
I don’t understand the bank’s stand here.

Probably because it isn't true. The bank can't tell him not to sell his home.
91 posted on 02/19/2010 12:23:04 PM PST by VegasCowboy ("...he wore his gun outside his pants, for all the honest world to feel.")
[ Post Reply | Private Reply | To 29 | View Replies]

To: karnage
People are angry. There’s a storm comin’.

Angry that they are expected to pay back their loans? Good grief.
92 posted on 02/19/2010 12:33:44 PM PST by VegasCowboy ("...he wore his gun outside his pants, for all the honest world to feel.")
[ Post Reply | Private Reply | To 78 | View Replies]

To: IrishCatholic

When facts don’t make sense, its worth questioning whether the fact can be right. In this case — they can’t.

SnakeDoc


93 posted on 02/19/2010 12:35:42 PM PST by SnakeDoctor (Do you know if the hotel is pager friendly? [...] I'm not getting a sig on my beeper.)
[ Post Reply | Private Reply | To 89 | View Replies]

To: AreaMan
"Frustrated Owner Bulldozes Home Ahead Of Foreclosure"

The sheeple are starting to fight back...

This is going to get ugly fast!

94 posted on 02/19/2010 12:44:08 PM PST by Mad Dawgg (If you're going to deny my 1st Amendment rights then I must proceed to the next one...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: DTogo
I say good for Terry Hoskins!

Yes, what a guy. A bank gives him a business loan and takes his land/home as collateral, so that if his business fails they are protected. When his business does indeed fail, he stiffs the bank and then destroys the collateral. What a hero!

Community banks (which this one appears to be) can't afford to take many losses. If they do, guess what happens? They fail. When they fail all their investors lose their money and all their employees lose their jobs. But hey, Hoskins needn't worry about that! He was pissed that the bank was going to adhere to its contractual rights under the agreement he knowingly entered to, so he was perfectly justified in his actions.
95 posted on 02/19/2010 12:45:25 PM PST by VegasCowboy ("...he wore his gun outside his pants, for all the honest world to feel.")
[ Post Reply | Private Reply | To 88 | View Replies]

To: karnage
"People are angry. There’s a storm comin’."

word...

96 posted on 02/19/2010 12:49:46 PM PST by Mad Dawgg (If you're going to deny my 1st Amendment rights then I must proceed to the next one...)
[ Post Reply | Private Reply | To 78 | View Replies]

To: DuncanWaring

Why, yes I do. Vin’s stuff is always entertaining and inspirational.


97 posted on 02/19/2010 12:51:43 PM PST by Noumenon ("Upon what meat doth this our Caesar feed, that he has grown so great?" - Julius Caesar)
[ Post Reply | Private Reply | To 90 | View Replies]

To: VegasCowboy

I’m angry. Stop confusing me with facts!


98 posted on 02/19/2010 12:53:09 PM PST by karnage (worn arguments and old attitudes)
[ Post Reply | Private Reply | To 92 | View Replies]

To: chit*chat
It's a series of articles and essays in the libertarian vein, but it keys off one Carl Drega, another individual who was pushed a tad too far. It's a tribute to our restraint and common sense as a people that we haven't seen more of this. Although it looks like we're going to see a lot more of this sort of thing as time and 0bama goes on.
99 posted on 02/19/2010 12:57:51 PM PST by Noumenon ("Upon what meat doth this our Caesar feed, that he has grown so great?" - Julius Caesar)
[ Post Reply | Private Reply | To 64 | View Replies]

To: Noumenon

Looks like we’ve got similar libraries.


100 posted on 02/19/2010 1:00:49 PM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
[ Post Reply | Private Reply | To 97 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-20 ... 41-6061-8081-100101-106 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson