Foreclosed Homeowner: ‘I’ll Tear It Down Before I Let You Take It’

by | Feb 23, 2010 | Headline News | 3 comments

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    When the bank had Terry Hoskins backed into a corner, he decided to take matters into his own hands – with a bulldozer.

    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.

    “The average homeowner that can’t afford an attorney or can fight as long as we have, they don’t stand a chance,” he said.

    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.

    Most Americans going through foreclosure  probably sympathize with Mr. Hoskins and a good portion probably feel like doing the same thing.

    When a friend of a friend recently got a foreclosure notice on a $1 million home in California, they didn’t take a bulldozer to it, but they did take the windows, doors, carpet, kitchen sink, toilets and pretty much everything else you could think of. All they left for the bank was a piece of land and an empty shell.

    These stories are not unique and it is happening all across America, every day.

    And it’s only going to get worse.

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      3 Comments

      1. Chris C.

        Gerald Celente called this one. People are losing it…

        If someone were to do this in a neighborhood with houses all around, I imagine that would do a lot of collateral damage to the property values around. Doesn’t look like that here though.

        If it were me and I had lost my mind, I would do something to the house to force the bank to bulldoze it, thereby costing them more money. This guy was pretty close in total loss to the bank however.

      2. clark

        What comes around,… goes around.

        When honest people find they’ve been had by dishonest cheaters, the rules of the game no longer apply.

        I wonder if things like this happened after the land booms and crashes of the 1800’s, the final episode of the television show Little House on the Prairie portraying an extreme example – instead of just one house they destroyed their whole town – Laura Ingles the criminal?

        Others have said, the past of cities like Detroit are the future of America,… nothing is done to change that, there is only talk and the yolk from debt creation.

        Or… what happens when it is discovered cheating has been ongoing during games like Monopoly or poker, do the players act the same afterwards?

        Does  1 +2=4 and if you repeat it long enough will it support both medicare and social security?

        SHTF a long time ago,… few noticed.

      3. Anonymous

        If he had let the bank foreclose on it, the bank would have recieved their remaining balance and fees and the owners would have received any remaining funds.  This was the dumbest thing I have ever heard of.  Now instead of making out with some cash in his pocket, he owes $160,000 – value of land + a lawsuit.  Dumba$$

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