I was listening to talk radio and was intrigued by the teaser for the next segment. "Ohio man bulldozes $350K home to avoid foreclosure". Hmmm. I REALLY wanna hear that one. I listened to the entire interview
and at the end I was perplexed. First of all, here are the details.
Terry Hoskins of Clermont County found himself in a predicament with
his Moscow, Ohio home. He was facing foreclosure and was upset that the
bank that held the note, River Hills Bank, would not work with him. So,
to quote Mr. Hoskins, "When I knew I was going to lose it, I decided to
take it down". In fact, he even advised the bank that, "I'll tear it
down before I let you take it". He went on to tell the radio
interviewer, "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,"

After listening to the entire interview, I noticed that Terry Hoskins sounded like a reasonable and prudent person. He wasn't ranting, he wasn't raving. He spoke plainly with good enunciation and
proper diction. He seemed to be a really nice guy. So what was he
thinking?

Okay, many homeowners facing foreclosure probably feel like doing the same thing. But before you support his drastic actions, lets look at a few more interesting facts about the story. First of all, Terry
used his home as collateral for a business loan. The business went
South. Apparently, he wasn't a good businessman nor partner. He later
found himself in a further predicament after his brother and former
business partner sued him and won. Did you hear that? His OWN brother
sued him. The property also had several liens on it filed by the
Internal Revenue Service. So, Mr. Hoskins wasn't such an innocent
victim in the whole foreclosure process.

All the while during the interview, all I could think of was, "Why couldn't he have tried everything to avoid foreclosure?" In the interview he mentioned that he owed $160,000 on the loan and the house
was worth $350,000. I'd have to leave that up to a local Realtor to
verify but I figured there would be lots of Realtors out there that
would have jumped at the chance to assist him with a possible Short
Sale. Especially with all the programs the government is coming up with
to assist homeowners to avoid foreclosure. And even if he couldn't
avoid foreclosure, there's a lot of families that would have loved to
purchase the home from the bank.

I don't understand nor support his decision, despite the fact that I do understand the frustration that comes with foreclosure. It is obvious that he made some very poor financial deciisons and yet he
doesn't take responsibility for them. So what is your opinion in this
story? Let me know what you think. I would like to know.

With the help that the government is providing with their short sale incentive programs, many homeowners facing foreclosure now have options to avoid the devastating affects of a foreclosure. And that’s good news
for Realtors who specialize in Pre-Foreclosure options.

By the way, if you or someone you know is at risk of losing a home to foreclosure, please know that there are new options available to avoid this devastating occurrence. And know that there is someone here
you can trust to help. As a Certified Pre-Foreclosure Specialist, I
understand the ins and outs of Short Sales and Loan Modifications. I am
also a Wachovia and World Bank trained Pre-Foreclosure expert and well
educated in the Government’s new H.A.F.A. and H.A.M.P. programs for
helping homeowners facing foreclosure.

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