43 responses to “A justifiable decision?-BbB”

1. 

   Alisa Yelimeshyna February 24th, 2010 at 09:10

   I think this makes absolutely no sense on his part. If he just went along with the banks needs and faced his consequences, his future wouldn’t be as grim as it is now.
   Money issues are nothing to mess with, and unfortunately this guy had no idea what he was dealing with when he compromised his house.

2. 

   Anthony Sikorski February 24th, 2010 at 11:02

   I think he started to make bad decisions when he stopped paying his taxes. He may have been paying off his home but if he owes over a million dollars to the IRS and the bank that is what happens. I’m surprised he isn’t in jail for tax evasion, but maybe that will be his new home soon.

3. 

   Haley Jenkins February 24th, 2010 at 11:29

   In my personal opinion this man has made many mistakes. And the biggest one was using is house as collateral. I think he just needs to accept the fact that he made a huge mistake. Yes it is sad that he is losing his house but he needs to step up and accept the consequences. And hopefully people can see that many is not something to mess around with especially if you don’t know exactly what you are doing.

4. 

   Zach Morgan February 24th, 2010 at 12:20

   I think that a man or woman just needs to abide by the song “the gambler.” You have to know when to hold um, and know when to fold them. When things are truly going down hill, the last thing to do is to try and get away with not paying taxes. That will make life much worse and will make people do very ignorant things…Thus the person in this blog story.

5. 

   Damon Ward February 24th, 2010 at 12:21

   This guy screwed up big time. If he had not listed his home as collateral, I would understand being upset about his home being foreclosed on. It is my guess that he did not fully realize the extent of what he was getting himself into, and would have been much better off to ditch the business, go find a job, and pay his taxes rather than digging himself deeper into a massive hole.

6. 

   Alexandra Graves February 24th, 2010 at 12:22

   As we read in our books its a good idea to get a lawyer who knows the law, well I think it’s a great idea to get an accountant right away. Maybe this man wasn’t the best at doing the paperwork or figure out his debts but if he had an accountant maybe this problem would have never happened.

   It’s funny to see him bulldoze his own home to spite the bankers but he’ll still have to repay the taxes and now he’ll have to pay for a new home.

7. 

   Ashley Lane February 24th, 2010 at 12:29

   This person is absolutely absurd. It was his fault for putting his personal property in jepardy and the little bank has every right to go after it. I can’t imagine what his family is going through.
   I think he should of gotten an accountant right away. If he had the million to spend on the lawyer, he had it to get an accountant.

8. 

   Angeline Tran February 24th, 2010 at 12:37

   That goes to show some of the dangers of entrepreneurship. You need to know when to sacrifice and when to know a lost cause and cut your losses.

9. 

   Mahmood Alrawi February 24th, 2010 at 12:48

   i think if this guy was doing well financially i wouldn’t mind calling him a hero…but since he owed so much money to the government, the bank had reason to forclose his home. But whatever the reason, this is still hilarious. you gotta give him some credit….

10. 

    Dan Wyss February 24th, 2010 at 13:33

    Definately a financial fool. This guy is borderline crazy and needs to get his life together even though that is gonna be pretty tough to do now.

11. 

    Amanda Edmondson February 24th, 2010 at 13:36

    Wow, that guy is gutsy! I would never be able to bulldoze my home and all of the memories inside it. I think his first mistake was not having an accountant and the second was not paying taxes. You may get away with it for awhile, but eventually you will get caught. Demolishing your home is no way to handle financial trouble. I think the only people who would consider this guy a hero are those who don’t understand the whole story

12. 

    Michael Tym February 24th, 2010 at 13:56

    This man needs to learn when to take a loss and walk away so he doesn’t end up owing millions to the IRS, hope he learns from this mistake.

13. 

    Brett Cohen February 24th, 2010 at 15:08

    I wonder if this guy had a wife or children. I don’t think any woman would let her husband bury a house with tons of memories inside just to prove a point. I can understand why he did what he did though. No matter what happened, whether he tore it down or not, he wasn’t going to own the land anymore so obviously it is not hurting him in anyway by tearing the house down.

14. 

    Tony Coiro February 24th, 2010 at 15:52

    Crazy? Probably. Creative? Without a doubt. I can’t judge the situation, since the homeowner and bank will tell you different stories. What I can respect is the guy had guts and stood up for what he believed in.

15. 

    Josh Graves February 24th, 2010 at 16:33

    two words, american hero…reminds me of a guy named marvin heemeyer who built a fortress of a bulldozer and ran over town hall, a judges house, and a number of other places in town….all because big brother was trying to screw him out of his money

16. 

    Michael Evans February 24th, 2010 at 16:45

    This guy is an idiot. Putting your house up for collateral for your failing business and deciding not to pay your taxes are two sure-fire ways to get yourself in a lot of trouble. Then this guy decided he hasn’t made enough dumb decisions when the bank comes to repossess his house, so he decides “if I can’t have it, no one can.” Unbelievable.

17. 

    David Hyman February 24th, 2010 at 16:48

    I ahte how people think they can live life without paying there taxes. It is very difficult to slip throught the cracks. There is an easy fix, follow the rules!

18. 

    Taylor Gelsosomo February 24th, 2010 at 17:01

    I can’t believe someone actually did this. He did make poor decisions like using his house as collateral. I still don’t know how someone could just take a bulldozer and destroy what used to be his/her home.

19. 

    Alan Dawson February 24th, 2010 at 18:07

    I would never consider this guy to be a hero, he just demolished his own house to make a point. He was broke and it was all his fault to begin with. I am surprised he even managed to open a business in the first place, but hey he does have a pretty sweet story to tell the grandchildren.

20. 

    Thomas Gick February 24th, 2010 at 18:07

    This guy is a genuis, not only does he have no place to live but he still owes money to the bank and IRS. This seems like the last act of a desperate man to me

21. 

    Austin Collins February 24th, 2010 at 18:16

    I could see myself doing something like this out of anger. This happens when people are in a bad situation and hopefully this made him happy inside.

22. 

    Justin Riley February 24th, 2010 at 19:14

    I agree with Austin, I could see myself doing this out of anger if something like this happened to me. I mean he had a good idea, but who knows there may be more to the story then what we know. He may have done something to make them want to foreclose on his house. There is always two sides to every story.

23. 

    Craig Hasbargen February 24th, 2010 at 19:49

    I have to give the guy props… I don’t think I could ever bulldoze my own house. I wonder how the bank responded to this action.

24. 

    Colleen Cahill February 24th, 2010 at 19:59

    Obviously it was stupid to tie his house to his business. He knew the risks, and when he realized his business was going under and he would defalt on tax payments, he should have tried to sell his home before he lost his credit reputation. That being said, what a great reaction. The man lost his business, lost his home, he might as well stick it to the man.

25. 

    Kelly Plantz February 24th, 2010 at 20:23

    I think the first mistake was mixing his personal assets with his business. And he claims that banks should think twice before taking someone’s home. However the bank is a business as well and they aren’t going to care if you have paid 75% of your mortgage or not. If you stop making payments of course your going to have problems from them. He signed an agreement with them and him bulldozing his house is only going to make things worse.

26. 

    Andrew Barr February 24th, 2010 at 20:30

    This guy is crazy. He put his house up for collateral and he lost the bet. He probably made a few financial mistakes, but maybe not. In a tough economy even a good business owner might lose his business. I wouldn’t go as far as to say that he is a hero. I doubt he even proved his point to the bank. The only point he proved is that banks shouldn’t loan him any more money. It sounds like he just bulldozed his house because he was more angry at himself than the bank. Apparently it wasn’t illegal considering he isn’t in prison. I don’t know if he built his own house, but he said he was going to give his commercial property back to the bank exactly how they gave it to him, as a piece of land. That sounds fair to me.

27. 

    Matt Kompara February 24th, 2010 at 20:36

    This man is an idiot. If this was really the case, and he knew it was coming in advance. He should have sold his home earlier and paid off the bank. It appears this comes down to the man having a sole proprietorship and trying to stay in business by not paying taxes. That is by itself a pretty desperate idea but just plain dumb when it is he himself who holds all the liability. The man hew he was going down, there are other things he could have done to minimize his loses.

28. 

    Ariana Zades February 24th, 2010 at 20:47

    I think that this is absolutely crazy. The fact that he had the nerve to bulldoze his own home in economic times like these is just ridiculous. It’s tough for everyone and he was not the only one that owes money to the bank. I don’t see anyone else doing anything stupid like this. The problem started way before he bulldozed his own home, but he could have minimized his loses before going to these extreme measures.

29. 

    Stephanie Mellady February 24th, 2010 at 20:58

    This is absolutely riduculous. He just screwed himself up even more and should face some major legal charges. No one that would do something like this deserves to be running a business, even if he already ran that into the ground also.

30. 

    Rob Lampert February 24th, 2010 at 23:24

    Such a weird situation. This guy definitely reacted differently than the rest of us would. The world is tough, this guy should have realized that being stubborn and making a point is not worth the consequences of his behavior.

31. 

    Ben Albers February 25th, 2010 at 00:07

    Yeah! That’s the way to stick it to the man! That is also a way to live in a cardboard box for awhile too. It is funny what measures people go to in order to not pay taxes.

32. 

    Curtis Brackett February 25th, 2010 at 00:31

    Bold move Mr. Hoskins—Bold move! That being said, as bold of a move as it was, it was as equally idiotic. First of all, if you’re going to take the risk of being an entrepreneur, don’t use necessities like things such as your family’s home that you cannot live without as collateral; secondly how does the thought of stopping tax payment even make it past the first second it enters your mind? Terry Hoskins doesn’t sound like the type of person that needs to be in charge of his family’s financial assets, let alone an entire company. Bulldozing his home has accomplished nothing, he is still in trouble with the IRS and now he just has a big mess to clean up and no place to sleep.

33. 

    Ryan Poxon February 25th, 2010 at 00:43

    How can this man argue that the banks at fault? He owes over a million dollars to the IRS and the law isn’t on his side. From a legal standpoint he has no argument. He’s a fool, and should have used his time to try and make money instead of bulldozing his house.

34. 

    John Gorbandt February 25th, 2010 at 09:29

    So how did the bank respond to the bulldozing? This just seems like a ridiculous action made by a desperate man.

35. 

    Blake Bronowicki February 25th, 2010 at 10:38

    I think using your own house as collateral for your financial decisions is not the best move to make. I honestly don’t know what this guy was doing because I find it hard to believe he will be able to avoid paying all these taxes he owes. This was just this guy’s idea of rebelling in such a way that will probably affect him for a very long period of time. I hope he finds a way to dig himself out this financial crisis he is involved in and I would personally not have taken the measures he did, but I wish him the best.

36. 

    Shawn Gearhart February 25th, 2010 at 10:42

    FOOL! The only thing this guy proved is that he doesnt understand financial rules. He could get into real legal trouble depending on laws in the state. He may have kept the band from obtaining his home but they will still take the land. The bank probably just laughed at him.

37. 

    Molly Longest February 25th, 2010 at 12:27

    Bold move! I would admire this man’s actions more had he not made so many careless and foolish financial mistakes. He made his bed and now he has to sleep in it… or bull doze it in this case.

38. 

    Keegan Klauke February 25th, 2010 at 21:58

    This guy is crazy, almost like the one guy who built a tank and waged a war on an entire city. no one could stop him because he made it bullet proof, explosion proof, and distruction proof. litterally the only way that stopped him was his tank running out of gas after he demolished half of the town. wow, some people are crazy.

39. 

    Courtney M. Cronk February 27th, 2010 at 10:41

    I feel like bulldozing his house was an extreme decision…and owing so much in taxes, doesnt surprise me that they would try and take his house. even more interesting, was tearing down his house legal after finding out it was going to be foreclosed? a very odd decision to make…i think i would have taken a different route.

40. 

    Soroosh Karamyar February 28th, 2010 at 15:15

    This situation is very interesting. I dont know which side I take on this situation but I do wish people could work together better and be more understanding. There had to be a better way out of this than the man destroying his house because the bank was coming after him.
    They system is flawed when things like this happen to people.

41. 

    Beck Warwick March 1st, 2010 at 17:33

    way to stick it to the man

42. 

    Harsh Sanghvi March 3rd, 2010 at 23:39

    Clear case of too much spending. He could had sold his house and still would have enough money to live a decent lifestyle.

43. 

    Daniel Johnson March 9th, 2010 at 10:47

    Using your houe as business collteral is nevera good idea. I think that he should have let go of his failing business earlier. It seems realistic that he would bulldoze his house to get bac at the bank. It’s strange to see this occur because he didn’t miss a single payment.