A man who owed $160,000 on a $350,000 house, destroyed his house one week before it went into foreclosure.
Terry Hoskins had been in a struggle concerning his home with RiverHills Bank for nearly a decade. Hoskins said he tore down the house so that the bank couldn’t sell it for more than what it was worth. He may not have broken any laws, but he still has to pay the $160,000.
Similar financial problems are involved in a carpet store and a banquet hall that Hoskins owns. People are worried that property may also be demolished. The business property is due to be sold at a sheriff’s auction next Tuesday.
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