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Man bulldozes home ahead of foreclosure

Feb. 23, 2010 at 2:36 PM   |   Comments

MOSCOW, Ohio, Feb. 23 (UPI) -- An Ohio man said he made good on his threat to tear down his home before allowing his bank to foreclose on the property.

Terry Hoskins of Moscow said RiverHills Bank refused a $170,000 offer to pay off the money owed on the $350,000 loan, with officials saying they could make more money from a foreclosure sale, so he gave the bank an ultimatum for the final fate of his house: "I'll tear it down before I let you take it," he said.

"When I see I owe $160,000 on a home valued at $350,000, and someone decides they want to take it -- no, I wasn't going to stand for that, so I took it down," Hoskins said.

Hoskins said he used a bulldozer two weeks ago to raze the home he built decades ago.

"As far as what the bank is going to get, I plan on giving them back what was on this hill exactly (as) it was," Hoskins said. "I brought it out of the ground and I plan on putting it back in the ground."

Hoskins said he is also considering bulldozing his business in Amelia, Ohio, which is scheduled to go up for auction in March.

RiverHills Bank declined to comment.

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