Foreclosure bulldozer: Man demolishes house rather than losing it to the bank
Posted on By Ricky at 6 March, 2010, 10:00 amForeclosure bulldozer: Man demolishes house rather than losing it to the bank
If Terry Hoskins can’t have his home in Moscow, Ohio, then no one can. Hoskins claims that he used a bulldozer to raze his house after the Internal Revenue Service (IRS) placed liens on his carpet store. He apparently used his home as collateral, according to The Washington Post. So when the IRS came to collect on [...]
If Terry Hoskins can’t have his home in Moscow, Ohio, then no one can.
Hoskins claims that he used a bulldozer to raze his house after the Internal Revenue Service (IRS) placed liens on his carpet store. He apparently used his home as collateral, according to The Washington Post.
So when the IRS came to collect on its insurance policy, Hoskins did what any normal red-blooded American male would do (sarcasm) and knocked it down with his oversized tractor.
The report indicates that he still owes $160,000 on his home loan.
But chances are once the lender, RiverHills Bank, requests a Brokers Price Opinion (BPO) to estimate the current value of the home, the number will be considerably lower.
And it’s probably too late to ask for a loan modification.
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