Facing Foreclosure Man Bulldozes 350K House

Facing Foreclosure Man Bulldozes 350K House and that is how he dealt with his bank. Moscow, Ohio might never be the same.

Like many people in America today, myself included, Terry Hoskins has had more than a few troubles with his bank. But his solution to foreclosure might be unique and some thing that many of us have contemplated doing.

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 stated.

Terry Hopkins stated that the Internal Revenue Service placed liens on his carpet store and commercial property on state Route 125 after his own brother and one time business partner, sued Hoskins.

Facing Foreclosure Man Bulldozes 350K House, because apparently, Hopkins had used his home as collateral and Riverhill Bank 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.” Never think that a bank is not a business, Baby Boomers, it is all about the bottom dollar. Here was a way for the bank and Hopkins to both come out clear and they refused the offer to make more money on Hopkins home.

Hoskins issued the bank an ultimatum. “I’ll tear it down before I let you take it,” and that is just what he did!

Terry Hopkins said that it took over three years to build his house and only 2 hours to tear it down. For the full story of “Facing Foreclosure Man Bulldozes 350K House,” go to Alternet.org.