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US man bulldozes his $500K home to cheat bank

This undated photo was released by Terry Hoskins, who  bulldozed his own home after a bank began...
This undated photo was released by Terry Hoskins, who bulldozed his own home after a bank began foreclosure proceedings. (AP Photo/Terry Hoskins via WLWT)
Hoskins' home in Moscow, Ohio before it was bulldozed. (AP Photo/Terry Hoskins via WLWT)
Hoskins' home in Moscow, Ohio before it was bulldozed. (AP Photo/Terry Hoskins via WLWT)

An Ohio man says he bulldozed his $US350,000 ($NZ500,000) home to keep a bank from foreclosing on it.

Terry Hoskins says he has struggled with the RiverHills Bank over his home in Moscow, Ohio, 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 $US160,000 ($NZ228,000) 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 40km 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.

 

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