Frustrated Owner Bulldozes Home Ahead Of Foreclosure

[grumbler]

The guy is not telling the truth.  The IRS does not put a lien on your property because your business partner sues you.  I'll bet that he was not paying his taxes properly.  Further, if the buyer was going to pay off the entirety of the debt, the bank had no standing to object, so I bet that the $170k doesn't actually pay off what he owes the bank.  He was probably cross-collateralized on his business loans, which is stupid as hell anyway.

I think we all know that the guy is lying.  We also know that he is crazy (because destroying his house just makes him into a jailed bankrupt as opposed to a bankrupt).

[Caliga]

I think we all know that the guy is lying.  We also know that he is crazy (because destroying his house just makes him into a jailed bankrupt as opposed to a bankrupt).

Some political pundit will say he's a hero though.   Doesn't strike me as the kind of guy Glenn Beck will applaud, but just wait.

[grumbler]

Oh, I thought the titleholder was considered the owner of record.

If you want to remodel or sell your house, do you have to have the bank's permission?  if it wants to do so, does it need yours?  The answers to those questions tell you who the actual owner of the property is.

[Neil]

The guy is not telling the truth.  The IRS does not put a lien on your property because your business partner sues you.  I'll bet that he was not paying his taxes properly.  Further, if the buyer was going to pay off the entirety of the debt, the bank had no standing to object, so I bet that the $170k doesn't actually pay off what he owes the bank.  He was probably cross-collateralized on his business loans, which is stupid as hell anyway.

I think we all know that the guy is lying.  We also know that he is crazy (because destroying his house just makes him into a jailed bankrupt as opposed to a bankrupt).

Does the US still send people to debtor's prison?  Because that's remarkably enlightened.

[grumbler]

Does the US still send people to debtor's prison?  Because that's remarkably enlightened.

Don't we wish, when we hear stories like this! 

[ulmont]

It is not something in American law, per se, it is in the mortgage contract.  The owner's liability for the mortgage debt is limited to the house.  If the owner gives up the house, then the bank has no further claim.  It ruin's one's credit, of course, but one's possessions, cars, and the like cannot be taken.

It depends on the state whether the mortgage contract allows for full recourse against the debtor for liability beyond the value of the house.

Many states in the US allow for a mortgage holder to obtain a "deficiency judgment" personally against the debtor after foreclosure for any amount not brought by the sale.  See OCGA 44-14-161, for example.

[ulmont]

He owned the house, but the bank had claim on it if he didn't pay the debt.  The bank may have been holding the title, but the house was his.

Oh, I thought the titleholder was considered the owner of record.

In many states, the titleholder is the owner of record.  See http://title.grabois.com/

[Martinus]

Debtor's prison or not, a deliberate destruction of a collateral to prevent the creditor from obtaining recovery, is a crime in many jurisdictions.

[Darth Wagtaros]

The only time threats actually work is when it's with the cable company.

Naturally, I used to be on Comcast's threat list.

"If you don't get a technician out here today, I'll be down at your offices tomorrow with all my cable boxes, AND NOBODY IS GOING TO BE HAPPY AFTER THAT."

Hey, it works.

I used to enjoy the customers who didn't pay their bills or something and had trouble getting someone out to reconnect. 

"Maybe I'll just bill you for MY time," said in this threatening tone. 

Idiots. 

[grumbler]

I used to enjoy the customers who didn't pay their bills or something and had trouble getting someone out to reconnect. 

"Maybe I'll just bill you for MY time," said in this threatening tone. 

Idiots.

I used to enjoy the cable companies who tried to convince me that their shit service was actually worth paying for.

"Maybe we will just bill you for a while at a marginally-less-shitty 'introductory rate'" said in this wheedling tone.

Idiots.

[Darth Wagtaros]

I used to enjoy the customers who didn't pay their bills or something and had trouble getting someone out to reconnect. 

"Maybe I'll just bill you for MY time," said in this threatening tone. 

Idiots.

I used to enjoy the cable companies who tried to convince me that their shit service was actually worth paying for.

"Maybe we will just bill you for a while at a marginally-less-shitty 'introductory rate'" said in this wheedling tone.

Idiots.

Yes.  cable companies suck to work for and to deal with. 

The bitch of it was, and this is going back many years, they really didn't care about customer service. They didn't, and probably still don't, have to. So long as people were willing to put up with it and it isn't in a town that has competition the company never really cared.

[Josquius]

I like these acts of screw the man defiance.
They're digging holes for themselves but its entertaining for me.

[Martinus]

I used to enjoy the customers who didn't pay their bills or something and had trouble getting someone out to reconnect. 

"Maybe I'll just bill you for MY time," said in this threatening tone. 

Idiots.

I used to enjoy the cable companies who tried to convince me that their shit service was actually worth paying for.

"Maybe we will just bill you for a while at a marginally-less-shitty 'introductory rate'" said in this wheedling tone.

Idiots.

Yes.  cable companies suck to work for and to deal with. 

The bitch of it was, and this is going back many years, they really didn't care about customer service. They didn't, and probably still don't, have to. So long as people were willing to put up with it and it isn't in a town that has competition the company never really cared.

I don't think it is that much about lack of competition (though it obviously plays a role too) as it is about high switching costs (in time and effort, if not money, terms). It's the same as with mobile phone operators and banks - they can afford to have sub-par customer service, because most people just can't be arsed to go through the hassle of changing your service provider.

[Darth Wagtaros]

I used to enjoy the customers who didn't pay their bills or something and had trouble getting someone out to reconnect. 

"Maybe I'll just bill you for MY time," said in this threatening tone. 

Idiots.

I used to enjoy the cable companies who tried to convince me that their shit service was actually worth paying for.

"Maybe we will just bill you for a while at a marginally-less-shitty 'introductory rate'" said in this wheedling tone.

Idiots.

My real point, g, was that he was giving this shpeal to me, who was there as tech support for broadband.  I had nothing to do with billing nor policy making, nor the fact that no one was available to go out there. 

[Monoriu]

The bank should make a message too buy suing his ass for destroying their property