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Home owner foreclosure WIN!

Terry Hoskins was, like many Americans, experiencing the housing crisis full force.  After his brother/business partner sued him (thanks bro) his bank Riverhills took his house and his business in Moscow, Ohio’s Clermont county as collateral.  The house was estimated at $350,000 and Terry owed $160,000.

Terry told his bank that he found someone who was willing to pay $170,000 for the house but his bank refused the offer under the claim that they could get more for it by foreclosing and reselling it.

Well Terry decided that since he built up the house he would return to the bank what he got when he bought it…which amounts to nothing.

“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.”

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