“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.”
Love this. Ridiculous. The bank could have gotten what it was owed. Now they’ll get just land and rubble.
Yeah. Selling land seized at foreclosure is a big profit area for banks. That is why they do it so much.
/sarcasm
I've never been to Ohio, except to change planes, but I can tell you that the general law is that the proceeds of a foreclosure sale are distributed like this:
Balance of loan
Costs of foreclosure
Distribution to borrower
Meaning that the bank doesn't get to keep the extra money if the land sells for more than the bank is owed, at he foreclosure sale. The bank has to pay it to the borrower. I would shocked if Oho law wasn't exactly that way.
People are angry. There’s a storm comin’.