Man Says Actions Intended To Send Message To Banks
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.
(snippet)
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.
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Beautiful! I scared the be-geezers out of my kids when I jumped up and yelled "REVOLUTION!"
ReplyDeleteTerry is a hero! It is sure nice to see common people - (and I say people, not sheeple; sheeple don't fight back or think at all) - do SOMETHING.
ReplyDeleteI would love to buy this guy a beer and pizza. In fact I'll build on a room in my garage and he can live there. Hoorah for Mr Hoskins!!!!!
Mr Drysdale wasn't able to line his pockets by loaning out fake fiat debt. Poor Mr Drysdale.
ReplyDeleteI hope someone recorded this on video!
ReplyDeleteGood job ill bye him a beer also
ReplyDeletesend the beers to ddarko10inyahoo.com
ReplyDeleteThere is no law against tearing down one's own house is there? None I know of.
ReplyDeleteScore one for Main Street!!! Thanks Terry Hoskins, may many more follow in your footsteps.
ReplyDeleteShame to see a good house go to waste, but like the tea party of history past - the tea dumped wasn't their own, and it cost serious money - turn to todays tea parties - till it costs someone lots of money don't expect much in the way of progress. Its a start though!!
11:51 If we stop spending for anything, but bare necessities it will finish the bad guys. It will cause us all financial hardships because of more massive layoffs, but we are within the law. It is safe and it sends a message to the evil doers.
ReplyDeleteIf his lot is not worth $160,000 plus the cost of clearing the lot from the debris left from the destroyed house, he will be sued for the balance. He will loose. He will have to file bankruptcy. The question is, can you prosecute the owner for destroying the property used as collateral against a loan. I think the insurance company will be the one to bring charges against him. Because he destroyed property that is insured and it becomes insurance fraud. The insurance company has to put the home back on the lot (depending on the type of ins. purchased) or write a check to the bank. He will go to jail for this. Sorry...
ReplyDelete11:51 That is a brilliant idea... But I have already been doing that out of necessity.
ReplyDeletehe wont go to jail if he let the insurance lapse, then he is not liable and neither is the insurance co, thus no jail
ReplyDelete12:48 The Mortgage holder knows "to the moment" of a lapse and they buy the insurance and bill you for it. The property never goes one tenth of one second uninsured. He is going to jail for insurance fraud or property damage which will be a high enough figure to send him to the big house.
ReplyDeletehe has no where to go now, that is why they built all the fema camps, so they have a place to warehouse everyone, when they are all out on the streets
ReplyDelete2 squares a day and could go to work everyday and sleep in a dry place... where do you sign up for the Fema Camp Hotel. I am in!
ReplyDeleteHe made a contract to borrow and repay money. It's not the bank's fault if he can't repay the loan. And since all home mortgages are recourse (meaning you owe personally any shortfall) and intentional demolition is probably an exclusion to the property insurers obligation to provide funds to rebuild, I would say the poor bloke is not only a bad borrower, but also now personally bankrupt. There is real moral hazard when nuts like this borrower are held up as having done anything righteous for any reason.
ReplyDeleteAlthough I agree that his actions batter than doing nothing, but I am curious if he took half of his house he paid for on trailer and hauled it away what would the scumbags do?
ReplyDeleteI still believe that financial crooks can only be fought with a dollar. If we all stopped paying our mortgages and other debts, the system would collapse in a matter of two months. All we have to do is to make the lender collapse (this is exactly what they are doing to us, one by one, with the money so called “government” gives them on our behalf out of our pockets). Since most of the mortgages were sliced and diced and sold on the market as derivatives, no one would be able to claim your houses.
Wow, this is insane. I understand why ect.but how deep have we sunk so far. The numbers are the numbers and figures do not lie and liars do not figure.
ReplyDeleteWe live in a world of contracts and I agree with 12.20 that he may be held liable in a court of law.
Trouble is the banksters will roast this guy to make an example of him.
ReplyDeleteWondering why this hasn't made MSM news?
Im next to bulldoze. I'll tape it though. I'll go to jail, but I'll be judged by 12 and chances are that at least one of them knows what we are going thru. F the bank and take me to jail.
ReplyDeleteDear 314, If we stop paying the feds will just bail them out again. Too big to fail, Don"t ya know.
ReplyDeleteMan! He should have just walked away from the
ReplyDeletemess. A ton of people are underwater but
most of them are still paying their bills
a not acting completely irrational. That kind
of behavior will get you nowhere. He probably
will go to jail.
1:11 is absolutely right. They will
ReplyDeletedestroy this guy and sue, garnish
wages, give jail time. He thinks he
got over but his troubles have JUST
BEGUN...
Attention feet shooters!
ReplyDeleteDo not take anything attached out of any house you do not 100% own.
Do not hire a lawyer to help you not pay your mortgage in order to live rent free because banks will go out of there way to fight them even if they shooting themselves in the foot as well.
Do not short sell without a recourse waver from your friendly bank.
Do not assume that you will be scot-free from your liar loan because time is NOT on your side.
At last DO NOT assume your neighbor will pay for the financial mess created.
Remember that anywhere in the world, money talks and bulls**t walks.
What is wrong with you people? Do you not believe in contracts? Do you not believe in capitalism? Do you not believe in law and order? This guy is the one acting out of greed. He didn't keep his side of the bargain. He signed a contract with that bank. I guarantee you he didn't pay them for a very, very long time and messed with them way too long for it to come to this. Yes, there are a lot of greedy, bad people out their, but that doesn't justify one selling their souls to the devil and doing whatever they want. I'm surprised at all of this support for a common criminal!
ReplyDeleteI agree with 7:19! He was lent something, didn't keep his side of the bargain, so the lender takes his collateral, and the guy destroys the collateral. That is just wrong.
ReplyDeleteIF! The economy had gone according to expectations so commonly believed in 04/05/06/07 would the "smart folks" have paid us (the U.S. "bailout" taxpayers) extra windfall profit tax.
ReplyDeleteRemember that profits on a personal homes when sold are TAX FREE income upto $250K for a single person and 500K for married couple.
They would very likely have called us (The U.S.not participating taxpayer and renter STUPID for not having bought their own Mac. Mansion.
The questions is are we stupid?
The guy was obviously a domestic terrorist, having destroyed a suburban home like that. Innocent people could have been killed or injured from flying glass or gas explosions. He could have set the whole neighborhood on fire. Banks are only helping people to live in nice houses that they could not normally afford.
ReplyDeleteThe more they help people, the more people hate them and do crazy things. We need more police, more cameras, more Internet traffic analysts to protect us, the innocents who pay our taxes without question and support all foreign wars and believe the media is telling us the truth and keeping us informed. We should be thankful this crazy man did not pick up a gun and start firing it. We especially need gun control. I'm so terrified even thinking about it, I can not type anymore...
Hoskins went from Hero to Zero in this thread.
ReplyDeleteWas the opinion of him divided at all?