Sometimes People Cut Off Their Nose to Spite Their Face!Or Bulldoze their Home!
By coffeegurl
@coffeegurl (1467)
United States
March 20, 2010 1:16am CST
Say this 3x fast: " One smart fellow, He felt smart, two smart fellows they felt smart, three smart fellows, they all felt smart!"
Now, I know a lot of people, including the octuplet mom is having foreclosure problems.
This guy decided to avoid foreclosure, he should just bulldoze the place. His home was valued at over a quarter of a million dollars as well. Was this guy drunk?
http://www.sfgate.com/cgi-bin/article.cgi?file=/n/a/2010/02/22/national/a151928S56.DTL
1 person likes this
6 responses
@overwith (101)
• United States
20 Mar 10
You have got to be kidding. I didn't see this story. Although very sad I couldn't help but get a laugh out of him dozing the place. This poor guy must have been in a very bad state of mind. Drunk? Maybe but I would say just lost it for awhile. Bet he sure wishes he could have it to do over again.
1 person likes this
@owlwings (43897)
• Cambridge, England
20 Mar 10
He might have been drunk. He was certainly very silly. He won't avoid foreclosure, of course, since he technically damaged the bank's property, not his own and whatever he owed the bank would still be owed PLUS the cost of repairing the damage. No doubt he will be taken to court and declared bankrupt (but that would have happened anyway, I guess).
I don't know how house values run in Ohio but here the land that a house stands on is often worth more than the house itself: rebuilding costs are usually reckoned to be much less than half the value of the property on the open market.
1 person likes this
@owlwings (43897)
• Cambridge, England
20 Mar 10
Incidentally, I would have gladly bought that house for $350,000. That is just about what the average 3 bedroom duplex house fetches in my area! I just did some calculations and if I sold my house and changed the money to dollars, I would probably even make enough to relocate (that is assuming I even wanted to live in the US!).
1 person likes this
@dragon54u (31633)
• United States
20 Mar 10
I saw that. It ridiculous to do that. If you're having money problems you just pick yourself up and try again. Why was he in such an expensive house? Living below your means is the smart thing to do. I sympathize with him, I really do, but bulldozing his house is insane. He just piled up more troubles and made it more difficult to start over.
@LadyMarissa (12148)
• United States
25 Mar 10
I have NO respect for Octomom, but I think she was set up to fail!!! She was unemployed & had just had 8 babies with 6 at her parent's house. Whoever sold her the house was doing just like she was & betting on the fact that she'd make millions in endorsements. Once that didn't happen, taking the house back was what they meant to do from the beginning. The housing market was already going south when they let her move into the home. I seriously doubt the owner of the house ever thought she would be able to make the payment!!!
The link didn't work for me so I don't know what it said, but I feel it would be unethical to bulldoze a house just because you can't pay for it. Atleast the owner can try & sell it again in order to get some of their money back.
@quita88 (3715)
• United States
21 Mar 10
No I doubt if he were drunk but I think he did for the
principle of the thing by bulldozing his own house down.
The problem being--what did he gain??
The ins. co. wont' pay him back for it but if he was going
to lose it he actually hurt the mortgage co did he not?
