Ursa Majoris Posted February 23, 2010 Share Posted February 23, 2010 Another protest concerning the IRS. Ohio man bulldozes own home Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted February 23, 2010 Share Posted February 23, 2010 this is more about the bank and his mortgage. not sure how i feel about this. Quote Link to comment Share on other sites More sharing options...
yo mama Posted February 23, 2010 Share Posted February 23, 2010 I understand they guy is upset, but that was pretty irresponsible. Quote Link to comment Share on other sites More sharing options...
i_am_the_swammi Posted February 23, 2010 Share Posted February 23, 2010 Since his insurance won't cover an intentional loss, not sure how bulldozing the home gets him out from under his obligation to the lender? Quote Link to comment Share on other sites More sharing options...
The Holy Roller Posted February 23, 2010 Share Posted February 23, 2010 Another small business man pushed too far. Poor bastard. (Glad he didn't bulldoze the bank... ). Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted February 23, 2010 Share Posted February 23, 2010 Since his insurance won't cover an intentional loss, not sure how bulldozing the home gets him out from under his obligation to the lender? if he is bankrupt, then all they get is the property which is worth alot less now with no building. they can probably sue though? Quote Link to comment Share on other sites More sharing options...
detlef Posted February 23, 2010 Share Posted February 23, 2010 if he is bankrupt, then all they get is the property which is worth alot less now with no building. they can probably sue though? Would that make him double bonus bankrupt? Quote Link to comment Share on other sites More sharing options...
yo mama Posted February 23, 2010 Share Posted February 23, 2010 if he is bankrupt, then all they get is the property which is worth alot less now with no building. they can probably sue though? Sure. Frankly, the guy will be lucky if he escapes criminal charges. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted February 23, 2010 Share Posted February 23, 2010 Sure. Frankly, the guy will be lucky if he escapes criminal charges. he has basically admitted that he tore it down so the bank gets less. is that criminal or civil? filing an insurance claim would be criminal. Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted February 23, 2010 Share Posted February 23, 2010 Sure. Frankly, the guy will be lucky if he escapes criminal charges. which doesn't do the bank any good. and that appears to be the guy's only real motivation. Quote Link to comment Share on other sites More sharing options...
yo mama Posted February 23, 2010 Share Posted February 23, 2010 he has basically admitted that he tore it down so the bank gets less. is that criminal or civil? filing an insurance claim would be criminal. could be both, depending on the applicable state law. Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted February 23, 2010 Share Posted February 23, 2010 I wouldn't be surprised if we see a lot more of this as desperate people start getting frustrated. Quote Link to comment Share on other sites More sharing options...
detlef Posted February 23, 2010 Share Posted February 23, 2010 So, dude had a ton of equity in his house if it's worth 350K and he owed 160 on it. One has to imagine that his IRS issues were not new if he owed them enough to have his house seized to cover them. First off, who's fault is it that he owed that much money to the IRS? Secondly, why didn't he downsize into a cheaper house or refi some time ago and take care of this? Needless to say, there's plenty unknown here but, given what the story provided, this looks like someone who got himself into trouble and then got pissed at those who were in charge of levying the consequences when the poopy hit the fan. Quote Link to comment Share on other sites More sharing options...
i_am_the_swammi Posted February 23, 2010 Share Posted February 23, 2010 Home's worth $350K, he owes $160K. if it's truly worth what he thinks it is, he should have been able to sell it quickly for $250-275K. Pay off his note, pay off the IRS, and start over. Seems a better option than becoming a criminal. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted February 23, 2010 Author Share Posted February 23, 2010 So, dude had a ton of equity in his house if it's worth 350K and he owed 160 on it. One has to imagine that his IRS issues were not new if he owed them enough to have his house seized to cover them. First off, who's fault is it that he owed that much money to the IRS? Secondly, why didn't he downsize into a cheaper house or refi some time ago and take care of this? Needless to say, there's plenty unknown here but, given what the story provided, this looks like someone who got himself into trouble and then got pissed at those who were in charge of levying the consequences when the poopy hit the fan. Home's worth $350K, he owes $160K. if it's truly worth what he thinks it is, he should have been able to sell it quickly for $250-275K. Pay off his note, pay off the IRS, and start over. Seems a better option than becoming a criminal. Pretty much exactly what I was thinking. Anger and stupidity are powerful forces. Quote Link to comment Share on other sites More sharing options...
SheikYerbuti Posted February 23, 2010 Share Posted February 23, 2010 Last week the battery on my iPod ran out. So I ran it over with my car. That'll show it. Quote Link to comment Share on other sites More sharing options...
detlef Posted February 23, 2010 Share Posted February 23, 2010 Pretty much exactly what I was thinking. Anger and stupidity are powerful forces. Right but then he wouldn't be heralded as a martyr for the plight of a nation being driven against it's will into socialism. Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted February 23, 2010 Share Posted February 23, 2010 Right but then he wouldn't be heralded as a martyr for the plight of a nation being driven against it's will into socialism. Quote Link to comment Share on other sites More sharing options...
Hugh 0ne Posted February 23, 2010 Share Posted February 23, 2010 Last week the battery on my iPod ran out. So I ran it over with my car. That'll show it. Funny, I just did the same thing today with my Droid after dmarctard told me about the high radiation levels. Quote Link to comment Share on other sites More sharing options...
The Irish Doggy Posted February 23, 2010 Share Posted February 23, 2010 Would that make him double bonus bankrupt? "He was already on double bonus bankrupt." "Well then put him on double secret bonus bankrupt!" Quote Link to comment Share on other sites More sharing options...
detlef Posted February 23, 2010 Share Posted February 23, 2010 Tell me that this and stories like it won't be the next death panels. Some a-hole will point to this like it's another example of Obama destroying our country. "Change we can believe in? Now we have people destroying their own homes. Is that change we can believe in?" Quote Link to comment Share on other sites More sharing options...
westvirginia Posted February 23, 2010 Share Posted February 23, 2010 Tell me that this and stories like it won't be the next death panels. Some a-hole will point to this like it's another example of Obama destroying our country. "Change we can believe in? Now we have people destroying their own homes. Is that change we can believe in?" Now that you mention it... Quote Link to comment Share on other sites More sharing options...
detlef Posted February 23, 2010 Share Posted February 23, 2010 Now that you mention it... Someone get Rush on the line, STAT! Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted February 23, 2010 Share Posted February 23, 2010 Tell me that this and stories like it won't be the next death panels. Some a-hole will point to this like it's another example of Obama destroying our country. "Change we can believe in? Now we have people destroying their own homes. Is that change we can believe in?" He hasn't shown any indication that he is willing to decrease spending in any way, between having to pay for that and the Bush tax cuts sun setting, small and medium sized business owners are going to get a tax increase when they can probably least afford it. Yep, change we can believe in Quote Link to comment Share on other sites More sharing options...
detlef Posted February 23, 2010 Share Posted February 23, 2010 He hasn't shown any indication that he is willing to decrease spending in any way, between having to pay for that and the Bush tax cuts sun setting, small and medium sized business owners are going to get a tax increase when they can probably least afford it. Yep, change we can believe in Short of using this as another excuse to recite your battle cry once again, can you explain how this applies to the story above? Quote Link to comment Share on other sites More sharing options...
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