BuzzBuzzHome Corp.
February 21, 2010

What would you do if your house was being taken by the bank in foreclosure? Would you be even more pissed if you had a buyer, who was looking to purchase it for more than your debt, but the bank still insisted on taking it? Would you crush your house??

That is exactly what a Moscow Ohio man, Terry Hoskins, did after losing his $350,000 home to foreclosure over a $160,000 debt. After a long fight with the bank, including the bank rejecting a $170,000 sale, he bulldozed the home. Gonzo…

According to WLWT:

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.

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.

While I have no clue on the legality of what Hoskins did, I think I would consider the same actions knowing that there was a purchaser for the house who would be able to pay off more than the mortgage.

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