Frustrated Owner Bulldozes Home Ahead Of Foreclosure

[OhioFiler]

Ironically the "greater good" might come from a permanent reduction of supply in housing.

The mayor of Detroit has proposed shrinking the city and relocating people from distressed neighborhoods to be closer together in order to better provide core services over a smaller area.

Those were once referred to an internment camps. Another bad idea brought to us by politicians who just know better than everyone else.

[BKOnce]

A Hitler's concentration camp.

[momisery]

In speaking with family the other night I found out that about every home that my step-sister and hubby are looking at in CA is short-sale or bank owned property. They are having trouble finding a place to buy, and many are stripped. I think some people get so angry over losing everything that they want to lash out in some way. I know I was really upset when WF lost our paperwork 3 times and our realtors 3 times so our buyer walked on a short sale... I mean if you are not interested in working with us in a short sale, just say so. They wasted our time, and cost us a lot of money in faxes to them while we were making a payment. It does make you pure ole angry... But we didn't take anything over it...

[Mensa1]

It's a non-consensual lien, so I'm wondering if there is any criminal part of what he did.

Not really sure what criminal consequences there would be?

I inferred from the article that he had owned his home outright. That the Bank put a lien on it -- non-consensual -- when problems started happening with his business because he had business debt at the Bank.

I don't see how he is any trouble. What he did do, though, is perhaps put himself in a position where he will owe hundreds of thousands of dollars of (potentitally) non-dischargeable debt... but that's about it.

There is absolutely no criminal aspect to this. Property and money dispute, clearly within the realms of civil law.

The mtg lien was NOT non-consensual; it is a recorded mtg that owner agreed to cross-collateralize the home and his business property. Total lien is 1.4 mil according to his active Ch 7 case. Yes, active case, does that change your mind any on the criminal aspect?

Additionally the home was insured and the lender was certainly an addt'l insured. While he could and would void his own rights to any claim under the ins policy, I don't think he can void the Banks interest in the policy by his deliberate act. I'm guessing that the Bank will file a claim, the ins co will him and haw and eventually be forced to pay the claim. The next call the ins co makes is to either the local sheriff for ins fraud investigation.

There is so much more to this story than what has been reported. The news media has done little to no research and also doesn't understand the perameters of the issues here if they did. They are reporting this story as if the guy owed 160K and the bank said NO to 170K. Couldn't be further from the truth.

Other factors, the guy purportedly had a bona fide purchaser for the 170K, (friend). Now if friend needs a mtg to purchase the property then that deal goes down for sure. Even if the Bank agreed to the short payoff of 170K, Jr to the mtg lien(s) is St of OH in sales tax liens to the tune of 200K and IRS liens for another 75K, so conveyance free and unencumbered isn't about to happen anytime soon. Now if friend had cash and was stupid enough to plunk it down then he gets the property encumbered by the tax liens and a whole host of other judg liens that exist of record. So the guys claims to the media are simply not honest. He himself does not understand much of his plight here.

Additionally the guys business property was scheduled to go to sheriff a couple of weeks later and he was threatening to tear it down. End of story he didn't, it did go to sale, the Bank bid it back in and has agreed to rent to Hoskins for 6 months for continuation of his business, as well as given him an option to buy it back. I wonder how the Bk T'ee would feel about that one, the Debtor taking an option on property for 700K while he has professed to be insolvent.

Of course now that the business has sold and the Bank has finally made him understand that they had to bring it through the foreclosure to rid the title of all the tax liens, he is now saying that he didn't get that part before and that the bank did him a favor, sort of. Now they are long lost buds.

Stay tuned, there will be other chapters here to be written, no doubt, and hopefully with more a factual bent to them.

[AngelinaCatHub]

Ironically the "greater good" might come from a permanent reduction of supply in housing.

The mayor of Detroit has proposed shrinking the city and relocating people from distressed neighborhoods to be closer together in order to better provide core services over a smaller area.

Yes CL, another step to communal living, section 8 housing, and government issued standard but equal housing for all. It's coming. First, let's capture the masses with Health Care Control, then assign all unemployed a Government job, and make sure the shovel ready jobs are there such as the programs of taking over the banks and car companies.

Have you signed up for your new electric GMC? Government Mandated Car?