Man bulldozed his home to prevent the bank from getting it back!

By
Real Estate Agent with Keller Williams Realty Coeur d'Alene AB37665

BulldozerThis is a truly sad story that underscores just how emotionally traumatized homeowners can get as they face losing their homes to foreclosure.

After what was called a decade long battle, a local bank was foreclosing on the guy's home and business.  Unjustly, says the homeowner, but we don't know the whole story.  In his frustration, rather than let the bank have his home, valued at $350,000 with a mortgage balance of $160,000, he leveled it with a bulldozer.

Now, I can say that I understand his distress and frustration, but that can't have been in anybody's best interest.  Especially his, as there will be consequences which he will have to face.



If you are frustrated and wondering if there is an option to avoid foreclosure, please call me.  Sometimes there is a better option.  Many homeowners are having success with short sales.  I can help you determine if you are a good candidate, and help you make it happen if you are.  There will be NO COST to you!

Posted by

Janna SignJanna Rankin Scharf  provides a superior level of real estate services to home buyers and sellers in Coeur d'Alene and Kootenai County, Idaho. Visit www.jannaScharf.com to search for homes in the Coeur d'Alene MLS for anywhere in spectacular North Idaho.

No matter how grand or modest your real estate dreams may be, you can turn to me in confidence.  Give me a call today and let me know what I can do to be of service to you!

Janna Rankin Scharf AB, GRI, CLHMS, PMN, SFR  208.651.9700

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Robert L. Brown 02/23/2010 11:15 AM
Topic:
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Rainmaker
598,880
Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

Janna - It is truly sad and while I can understand his frustration, I too think it was just plain stupid because I am sure he made his situation only worse.

February 21, 2010 06:16 PM #6
Rainmaker
211,587
Yvette Chisholm
Long & Foster Real Estate, Inc. - Rockville, MD
Associate Broker - Rockville, MD 301-758-9500

That is so sad.  I think what he did is very wrong after watching the interview.  He is angy and frustrated, but he made commitments that he didn't keep and it sounds like he lost his home because of bad business decisions.

February 21, 2010 06:48 PM #7
Anonymous
Anonymous
Anonymous

That is a very sad story.  I expect things only get worse for him.  It must be hard to face that much stress that you think that is the best option....

February 21, 2010 06:51 PM #8
Ambassador
567,248
C Tann-Starr
Tann Starr & Associates, Inc. - Flushing, NY

Featured @ Club Chaos

February 21, 2010 08:34 PM #9
Rainmaker
241,885
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

It is not surprising when someone feels so desperate and frustrated at  being pushed around by the faceless and unfeeling bank. Really sad.

February 21, 2010 08:39 PM #10
Ambassador
867,056
Dagny Eason
Dagny's Real Estate - Wilton, CT
Fairfield County CT, CDPE Homes For Sale and Condo

I am so sorry for folks like that.....

 

February 22, 2010 05:13 AM #11
Ambassador
897,427
Andrea Swiedler
Berkshire Hathaway HomeServices New England Properties - New Milford, CT
Realtor, Southern Litchfield County CT

Years ago I remember hearing about a man who owned a small landscaping company. Hard times had hit, he was trying to work out a deal for a truck he had financed. Without the truck, no business at all. The lender would not work with him and was coming to take the truck. He buried it in his frustration. They never found it.

The whole story is sure not known here, but you can tell the level of frustration is so high with this guy. We will see more and more of this I am afraid.

February 22, 2010 06:54 AM #12
Rainmaker
993,085
Michael J. Perry
RE/MAX Associates of Lancaster, PA. - Lancaster, PA
Lancaster Relo Specialist

I've heard of people completely striping the house ,but never something like this !!!!

February 22, 2010 07:00 AM #13
Rainmaker
998,764
Nick T Pappas
Assoc. Broker/Broker ABR, SFR, e-Pro, @Homes Realty Group, Huntsville AL - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource

Janna, you've got to feel for this guy...who knows what's behind the story.  Your post reminded me a little of the book "The Grapes of Wrath", in that people had to deal with the economic hardships of the depression. 

February 22, 2010 02:13 PM #14
Rainmaker
1,511,337
John Novak
Keller Williams Realty The Marketplace - Las Vegas, NV
Henderson, Las Vegas and Summerlin Real Estate

I suppose this is better than him bulldozing the bank ... and I'm sure there are several other homeowners out there who feel exactly like this, which is why we need to reach out and educate them on options.

February 22, 2010 07:56 PM #15
Rainer
186,811
Thomas McCombs
Century 21 HomeStar - Akron, OH

I am curious about how he feels now that he has burned this bridge. Does he believe that he has improved his situation?

Inquiring minds want to know.

Akron, Ohio

February 22, 2010 08:34 PM #16
Rainmaker
1,361,455
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Short Sale - CDPE, REDS

We had one short sale burn down just before closing....from "natural" causes....it was not the seller...though we are hearing about sellers who would rather torch than pay...frustrated homeowners just do not kow what to do with their anger....

February 23, 2010 07:02 AM #17
Rainmaker
478,013
Robert L. Brown
www.mrbrownsellsgr.com - Grand Rapids, MI
Grand Rapids Real Estate Bellabay Realty, West Michigan

Can i say ouch!! You have to feel for this guy. Many people are in situations they truly don't to be in.

February 23, 2010 11:15 AM #18
Rainmaker
398,592
John Cannata
214-728-0449 http://TexasLoanGuy.com - Frisco, TX
Texas Home Mortgage - Purchase or Refinance

Oh my goodness, that is crazy. I hadn't heard about this story before now.

February 23, 2010 02:44 PM #19
Rainmaker
1,108,139
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

The story out here was more about the IRS liens on the property than about the missed bank payments. Maybe that's because of the plane crash into the IRS building in Austin.

February 23, 2010 03:15 PM #20
Ambassador
966,890
Jason Crouch
Austin Texas Homes, LLC - Austin, TX
Broker - Austin Texas Real Estate (512-796-7653)

Janna - I hadn't heard about this either, but (as Jim alluded to above) it does remind me of the guy who burned his house down before crashing a plane into the IRS building.  There seem to be more and more desperate people out there.

February 23, 2010 04:48 PM #21
Rainmaker
497,172
Delaware Junk Removal Residential And Commercial Hauling Clean Outs
Delaware Junk Removal 302-530-9186 - Wilmington, DE
Whole House Clean Outs, Basements, Garages, Attics

My heart goes out to these people, its a tough world out there

February 23, 2010 10:12 PM #22
Rainmaker
725,646
Debbie Walsh
Keller Williams Realty - Middletown, NY
Hudson Valley NY Real Estate 845.928.8000

I was shocked at his attitude.  Not shocked that he had done it but shocked that he said so casually I did it and would do it again.  This is going to start other people down the wrong path.  He is going to get in trouble for this and I think his family should be more important. 

February 25, 2010 12:59 PM #23
Rainmaker
169,433
Dana Scanlon
Keller Williams Capital Properties - Bethesda, MD
Bethesda MD- Award-Winning Bethesda Realtor

Wow, you can't help but feel sorry for the man, but this is not a solution to anyone's woes. If he owes $160,000 as he says and its worth $350,000, why not just sell it, pay the bank and walk away. Sound like an extreme case of rage, and the man could be dangerous.

February 25, 2010 06:50 PM #24
Rainmaker
70,238
Nancy McNamee
Keller Williams Realty - Roseville, CA

Amazing!  I can see someone being angry but this is over the top.  Wondering if he has or had a family...I just can't see how this will improve things for him at all.  And if it doesn't, what's the point... Oh yeah, that's logical thinking and I doubt that entered into this.  Still feel bad that things are coming to this. 

February 26, 2010 12:59 AM #25
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