MOSCOW, Ohio -- An Ohio man says he bulldozed his $350,000 home to keep a bank from foreclosing on it.more via the AP
full story and video via WLWT
Terry Hoskins was ordered by the court to come up with $365,000 in 30 days to settle a civil suit. And he did that, as a responsible citizen. He worked out a deal with the bank where he could put up his business as collateral. However, at the last hour (of the court imposed deadline) the bank presented him with a new loan contract, including the house, which he did not have time to get reviewed by a lawyer.
So at some point, he offered to pay off the loan in order to keep his house, which is what he thought the contract said he could do, but the bank decided they could make more money by seizing the collateral and apparently language permitting this was buried in the contract; that was arguably the bank's plan all along.
He warned the bank that he wasn't going to let them screw him over like that, and would just bulldoze the house. They called his bluff. He wasn't bluffing.
OK, I know, I know: that has nothing to do with Hevad Khan's use of the word bulldozer. Why so serious?
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