One way to use your tractor?

[Cat_Driver]

Take a look at the SLIDE SHOW



Frustrated Owner Bulldozes Home Ahead Of Foreclosure - Cincinnati News Story - WLWT Cincinnati

video

http://www.wlwt.com/video/22605945/index.html

 

[JB4310]

Good for him, Don't know that I'd have the guts to do it, but it looks like he's getting all kinds of support.

Guess he didn't break any laws, if he burned it down, that would be arson. Seems to be a reasonable guy judging by the interview.

It's more for the message than a solution, he'll still owe the same amount plus the cost of the clean-up possibly.

JB.

 

[20 20]

seems like the IRS isn't making any friends lately.

I understand his frustration but still wonder what the whole story is???????

 

[bp fick]

I question how people can applaud destruction, regardless of the circumstances involved.

When my wife and I were looking at foreclosed properties, we saw house after house with plumbing torn out, cabinets stolen and all the things you hear about. Anger issues. Somehow folks think that it was "theirs" to steal, destroy, whatever.

Since the bank holds the mortgage, they are in fact, the real owner of the property. Hate to say it, and it isn't popular, but until you can burn your mortgage, you really don't "own" it, well, not yet.

I empathize with the troubles this guy got into with the IRS over his business and can understand how his brother apparently or reportedly hung him out to dry, but still..... I for one find it difficult to applaud his actions.

 

[archerm3]

Yes, I'll bet there is a whole lot more to the story judging by the comments.

Who gets sued by their brother?

 

[20 20]

Since the bank holds the mortgage, they are in fact, the real owner of the property. Hate to say it, and it isn't popular, but until you can burn your mortgage, you really don't "own" it, well, not yet.
.

Even then you are only renting it from the government, in the form of pay taxes or leave. Or big brother decided your property is perfect for_______ so move!

 

[MossRoad]

You know, a lot of people have that attitude that if "I can't have it, neither can you." When I was a kid, my grandparents had some rental properties. It go to the point that the repairs that had to be made after they evicted someone would eat a ton of their profits.

Same thing happens with automobile repossessions. They trash the car when the bank takes it back.

It amazes me that people either do not understand or refuse to accept that when you finance a car or home, the bank owns it until you pay it off completely. It is not yours until that point.

As for that guy that bulldozed the house... he is still going to owe on the thing and will probably face criminal charges. I know he probably felt he got screwed in the deal, but he just screwed himself harder by doing that. Declaring bankruptcy may get him out of the financial hole, but he will still face the criminal charges.

 

[20 20]

You know, a lot of people have that attitude that if "I can't have it, neither can you." When I was a kid, my grandparents had some rental properties. It go to the point that the repairs that had to be made after they evicted someone would eat a ton of their profits.

Same thing happens with automobile repossessions. They trash the car when the bank takes it back.

It amazes me that people either do not understand or refuse to accept that when you finance a car or home, the bank owns it until you pay it off completely. It is not yours until that point.

Yep, "personal responsibility" seems to be bad words

As for that guy that bulldozed the house... he is still going to owe on the thing and will probably face criminal charges. I know he probably felt he got screwed in the deal, but he just screwed himself harder by doing that. Declaring bankruptcy may get him out of the financial hole, but he will still face the criminal charges.

I wonder if they'll make him replace the house plus pay of the original bill ?

 

[MikePA]

Take a look at the SLIDE SHOW

Frustrated Owner Bulldozes Home Ahead Of Foreclosure - Cincinnati News Story - WLWT Cincinnati

video

Man Says Actions Intended To Send Message To Banks - Video - WLWT Cincinnati

Immature, juvenile and self centered act.

 

[2manyrocks]

In Tennessee, the intentional destruction of property securing a creditor's loan is a criminal offense called "hindering a secured creditor." I have no clue what Ohio law says about this.

If this guy intended to file bankruptcy, he might have shot himself in the foot because the intentional destruction of property securing a creditor's loan is a basis for a bankruptcy court to refuse to grant a debtor a discharge of his liability for the loan in federal bankruptcy court.

ｧ 727. Discharge (a) The court shall grant the debtor a discharge, unless-- (1) the debtor is not an individual;
(2) the debtor, with intent to hinder, delay, or defraud a creditor or an officer of the estate charged with custody of property under this title, has transferred, removed, destroyed, mutilated, or concealed, or has permitted to be transferred, removed, destroyed, mutilated, or concealed--

(A) property of the debtor, within one year before the date of the filing of the petition; or
(B) property of the estate, after the date of the filing of the petition;

​

 

[Duffster]

There is obviously more to this story than is being told.

I would like to know why the bank refused 170k to pay off 160k.

He may have been within his rights otherwise the law would be making an example out of him.

 

[dave1949]

Just from the facts on the surface, the homeowner has been stretching his finances for a long time, it caught up with him. Hard to be sympathetic since he made the choices that lead to his current position. He could have just as easily started out with a $150k TO $200k house and made it easier on himself from square one.
Dave.

 

[archerm3]

Just from the facts on the surface, the homeowner has been stretching his finances for a long time, it caught up with him. Hard to be sympathetic since he made the choices that lead to his current position. He could have just as easily started out with a $150k TO $200k house and made it easier on himself from square one.
Dave.

Amen. I get so sick of seeing small business owners drown themselves in nice stuff trying to live like a rock star without growing their business.

 

[EddieWalker]

Just from the facts on the surface, the homeowner has been stretching his finances for a long time, it caught up with him. Hard to be sympathetic since he made the choices that lead to his current position. He could have just as easily started out with a $150k TO $200k house and made it easier on himself from square one.
Dave.

I agree. Nobody forced him to take out the loan on the house, or buy what he couldn't afford. I live in a $30,000 house and I'm proud of it. I could have financed a $300,000 house that would be very impressive, but then I would probaly be in the same situation, and stressing over a mortgage payment.

Every single person that I know who is in financial dificulty, stretched thin and stressing about money, is there because of a series of bad decisions over the course of many years.

Eddie

 

[dave1949]

I agree. Nobody forced him to take out the loan on the house, or buy what he couldn't afford. I live in a $30,000 house and I'm proud of it. I could have financed a $300,000 house that would be very impressive, but then I would probaly be in the same situation, and stressing over a mortgage payment.

Every single person that I know who is in financial dificulty, stretched thin and stressing about money, is there because of a series of bad decisions over the course of many years.

Eddie

Amen Eddie. Beyond warm and dry with some basic plumbing - the rest is really optional
Dave.

 

[LBrown59]

Good for him, Don't know that I'd have the guts to do it, but it looks like he's getting all kinds of support.

Guess he didn't break any laws, if he burned it down, that would be arson. Seems to be a reasonable guy judging by the interview.

It's more for the message than a solution, he'll still owe the same amount plus the cost of the clean-up possibly.

JB.

Now he still owes the same amount and screwed himself out of being able to sell the house in order to pay it off.

Total ignorancy .

 

[JB4310]

Now he still owes the same amount and screwed himself out of being able to sell the house in order to pay it off.

Total ignorancy .

I have to admit I didn't read much of the storey, What I got from the short clip was like he's the little guy standing up against the big greedy banks.

Seems like that's the media track, the fact that they are interviewing him at his store on his terms. He seemed very comfortable and confident, like they were covering a legitimate protest, not a dead beat trying to shirk his debt obligations.

JB.

 

[Duffster]

Now he still owes the same amount and screwed himself out of being able to sell the house in order to pay it off.

Total ignorancy .

Did you miss the part that said they wouldn't let him pay it off?

 

[Taylortractornut]

I agree with Eddie about the houses. I bought my parents house after they seperated, I had afriend try to get me buy a new house. MY payments are around 270 per month for the next 10 years. My friend bought a two story house concrete drive way and a pool for about 250 000. Then traded in his truck and his wifes car both nice paid off rides for 2 status cars. His maintenance and heating and colling bill monthly is about 350 a month for 2 people to live in this huge house His line of work went to pot now its all the banks fault. I did have one month I wasnt able to make my payment and I talked to my banker. He gave me an extra month to pay the payment. I think most banks will work with you if you make the effort.

 

[2manyrocks]

We don't have the whole story. We have a snippet of what he said to the TV station. Federal and state privacy laws prohibit a bank from disclosing confidential information of their customers, and so we're not likely to hear the bank's side of the story unless it comes out in court.

Some enterprising journalist might start digging into the background of this in the local court records, and then we might get more details.