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Terry Hoskins: Ohio Man Bulldozes $350K Home To Avoid Foreclosure

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The AP reports this morning:

"An Ohio man says he bulldozed his $350,000 home to keep a bank from foreclosing on it.

Terry Hoskins says he has struggled with the RiverHills Bank over his home in Moscow for years and had problems with the Internal Revenue Service. He says the IRS placed liens on his carpet store and commercial property and the bank claimed his house as collateral.

Hoskins says he owes $160,000 on the house. He says he spent a lot of money on attorneys and finally had enough. About two weeks ago he bulldozed the home 25 miles southeast of Cincinnati.

Messages were left for the bank and its attorney.

IRS spokeswoman Jodie Reynolds said individual taxpayer information is private and federal law prevents her from commenting."

Local TV station WLWT has an interesting video report about Hoskins's plight here. Hoskins told WLWT: "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."

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