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;

​