Man bulldozes his own home to thwart repossession
According to WLWT Channel 5 in Cincinnati, Terry Hoskins, who lived in the rolling hills east of Cincinnati, was losing the home on which he owed $160,000 as a result of a failing family business, which the bank claimed as collateral. The IRS was in line as well, looking for its pound of flesh.
Hoskins had told the bank beforehand what he intended to do in response to its actions.
Especially frustrating for Hoskins was receiving an offer of $170,000 for the house, more than enough to pay off the balance of his mortgage. The bank told him that it could get more by repossessing and selling it, and refused to allow him to accept the offer.
Hoskins told the reporter that his business is scheduled to go onto the auction block on March 2, and he might just take the bulldozer to that building as well.
They could use a few good men like him in Detroit, I think.
The perp will surely be taken to court, and will probably carry a huge debt load for the rest of his life. He could also face criminal charges.
He might have been better off to abandon the house and hope that a roving party crew destroyed it during one of their "get wrecked and get wrecked" parties, or that someone torched it. The Coalition Against Insurance Fraud reported 54 arrests on charges of homeowner arson last year, and 20 convictions.
Even worse are tales like that of Juan Jose Luna, who intended to torch his house but apparently was too liberal with the gasoline, and blew it up instead, almost blowing off a couple of fingers. He drew a nine-month sentence.