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02-22-2010, 12:04 PM
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Forclosure loomed on homeowner who bulldozed his house
An Ohio man bulldozed his house before it could be seized through foreclosure. Apparently he had also used the house as collateral on another loan. He says he had a purchase offer for more than he owed, but that the bank was not satisfied with that. (?)
Man bulldozes own home ahead of foreclosure to send message to banks | Raw Story
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02-22-2010, 01:22 PM
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It is like the contry song says: Beer is good, God is great, People are crazy!
Forget common sense or moral guidelines, they are gone both on the bank and on the borrower side, everybody does what they want just because they can.
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02-22-2010, 02:36 PM
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I live somewhat close to where this happened and there are a lot of stories going around about this. The most believable is that the house was used as collateral for his carpet buisness and there were serious issues with the buisness including a pending lawsuit from his brother/buisness partner.
It's a real goofy story of bad buisness dealings and, by all accounts, a real kook! I hope I never have to decide on bulldozing my house or not. Musta' been a tough call 
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