Frustrated Owner Bulldozes Home Ahead Of Foreclosure

Man Says Actions Intended To Send Message To Banks

Moscow, Ohio- Like many people, Terry Hoskins has had troubles with his bank. But his solution to foreclosure might be unique.

Hoskins said he's been in a struggle with RiverHills Bank over his Clermont County home for nearly a decade, a struggle that was coming to an end as the bank began foreclosure proceedings on his $350,000 home. "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 the Internal Revenue Service placed liens on his carpet store and commercial property on state Route 125 after his brother, a one-time business partner, sued him.

Hoskins' home before bulldozed. Although Mr. Hoskins had never missed a payment on this property, the bank seized the property to satisfy unrelated debt.

The bank claimed his home as collateral, Hoskins said, and went after both his residential and commercial properties. "The average homeowner that can't afford an attorney or can fight as long as we have, they don't stand a chance," he said. Hoskins said he'd gotten a $170,000 offer from someone to pay off the house, but the bank refused, saying they could get more from selling it in foreclosure. Hoskins told News 5's Courtis Fuller that he issued the bank an ultimatum. "I'll tear it down before I let you take it," Hoskins told them. And that's exactly what Hoskins did.

The home as it is being bulldozed.

The Moscow man used a bulldozer two weeks ago to level the home he'd built, and the sprawling country home is now rubble, buried under a coating of snow. "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' business in Amelia is scheduled to go up for auction on March 2, and he told Fuller he's considering leveling that building, too. RiverHills Bank declined to comment on the situation, but Hoskins said his actions were intended to send a message. "Well, to probably make banks think twice before they try to take someone's home, and if they are going to take it wrongly, the end result will be them tearing their house down like I did mine," Hoskins said.

This is what remains of the Hoskins home for the banks.

Hoskins said he's heard from people all over the country since his story first aired Thursday, and he said most have been supportive. He said he sought legal counsel before tearing down his home and understands the possible consequences, but he has never doubted his decision once he made it. "When I knew I was going to lose it, I decided to take it down," Hoskins said.

Public opinion, as measured by a poll found at the news site, is very strongly in Hoskins' favor.

WLWT.com