People are starting to make their frustrations with banks loud and clear. Last week, a story was released about a man who decided to take matters into his own hands earlier this month, when he found out his home was soon to be auctioned off by the bank.
Terry Hoskins, of Moscow, Ohio said to WLWT-TV that he has been arguing with Riverhills Bank for years over his home. He also reportedly had major problems with the Internal Revenue Service (IRS) after his brother/former business associate decided to sue him. The IRS later placed a lien on his carpet business while his property was used for collateral.
At this time, Terry had already paid off about half of the outstanding mortgage balance, owing only $160,000 on a $350,000 loan. To avoid foreclosure he decided to try and sell the home for the remaining balance of the loan. He ended up finding an individual who was willing to pay off the loan with $170,000, but the bank refused to take the deal. The bank claimed that they would earn a bigger profit if they just seized the home and sold it on their own through foreclosure.
After spending a significant amount on attorneys, he finally had enough.
This caused the Ohio man to take action into his own hands earlier this month by bulldozing the home into rubble. He says that since he built it from the ground, he will put it back in the ground. All that is left of his beautiful $350,000 property is a large pile of debris.
He also came to say that before he actually took action, he first sought legal counsel to learn and understand the consequences of this event. These actions were meant to send a message.
Not only did he lose his home, but now his company business is scheduled for auction the beginning of next month. The man came to say that he’s seriously considering taking that building out also.