Industry NewsMortgage

Owner bulldozes home in foreclosure

Bank allegedly turned down purchase offer
Published on Feb 25, 2010

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by CareyBot

An Ohio man is making national headlines after claiming he took a bulldozer to his home to prevent his bank from repossessing it.

Terry Hoskins told NBC affiliate WLWT that when the bank began foreclosure proceedings to collect $160,000, he decided to tear the home down in order to "make banks think twice about it before they take someone's home."

Hoskins said the lender, New Richmond-based RiverHills Bank, turned down a buyer's offer of $170,000 for the home, which Hoskins valued at nearly $350,000.