Man Bulldozes Own Home to 'Make Banks Think Twice About Foreclosure' - General

[QUOTE=Jasun;33673400]Many banks give out loans and mortgages, knowing that people won't be able to pay it back.[/QUOTE] And McDonalds still sells burgers for fat people. It's not the banks fault that the taker is stupid. The bank WILL get the money back somehow, it's really not a problem.

[QUOTE=Hullu V3;33682225]And McDonalds still sells burgers for fat people. It's not the banks fault that the taker is stupid. The bank WILL get the money back somehow, it's really not a problem.[/QUOTE] I dont thing that's a very apt simile. Just because someones fat doesn't put mcdonalds at risk. Not to mention he would Have to be able to afford it to purchase.

i bet his wife said he would leave him if he did not get a house.

[QUOTE=tittles650;33688158]i bet his wife said he would leave him if he did not get a house.[/QUOTE] He's gay? I don't like some of the risky lend policies that banks have, nor do I like their cutthroat methods at times, but he shouldn't buy a 350k home if he couldn't afford it. I guess we need more information like if he was still paying the loan or not.

[QUOTE=Karmah;33667487]Although I get the point he was trying to make, now not even he can have the house, and now they will take every last penny they can get and just take his business property.[/QUOTE] He's tearing down the business too. At the end of the video he says he's going to bring it back to the way it was when he first got it. Apparently he built that business. I think he's very clever. Banks think they can take anything from anyone, but once that option is gone, then what? Now the bank will realize that taking someones property is not acceptable. [editline]12th December 2011[/editline] [QUOTE=jbthekid;33675800]If he's rich, then okay. If he's not rich, he's a dumbass.[/QUOTE] He was filing for bankruptcy. He doesn't have any money at all, hence bankruptcy. I imagine he has back-up plans in place. When my dad went for bankruptcy he had a fall back plan for that too and did whatever it took so the banks couldn't take anymore than he wanted them to. He left the house (in a rather shitty condition, I'm surprised anyone actually bought the place) and his vehicles were moved to his fathers name so he could keep them. Obviously he'd need his truck for transportation to work and stuff and he spent too much time on his boat to just let them take it away from them. Some people are put into difficult situations where they are losing everything they've worked hard for and need. And when someone else comes along telling them it's not theirs anymore, well it's understandable that they are going to fight to keep it, or at least make sure the other people don't get it.

Only $350,000 for that? Looks really nice.

[QUOTE=Jurikuer;33688788]He's tearing down the business too. At the end of the video he says he's going to bring it back to the way it was when he first got it. Apparently he built that business. I think he's very clever. Banks think they can take anything from anyone, but once that option is gone, then what? Now the bank will realize that taking someones property is not acceptable. [editline]12th December 2011[/editline] He was filing for bankruptcy. He doesn't have any money at all, hence bankruptcy. I imagine he has back-up plans in place. When my dad went for bankruptcy he had a fall back plan for that too and did whatever it took so the banks couldn't take anymore than he wanted them to. He left the house (in a rather shitty condition, I'm surprised anyone actually bought the place) and his vehicles were moved to his fathers name so he could keep them. Obviously he'd need his truck for transportation to work and stuff and he spent too much time on his boat to just let them take it away from them. Some people are put into difficult situations where they are losing everything they've worked hard for and need. And when someone else comes along telling them it's not theirs anymore, well it's understandable that they are going to fight to keep it, or at least make sure the other people don't get it.[/QUOTE] The banks aren't thieves or horrible entities made to screw people over. You make an agreement to borrow their money so that you can buy a property. Well guess what? When you don't pay that money back they have every right to come collect. If you can't afford it in the first place, don't even think about buying a house. He's in this situation because he made shitty financial choices, it's his own damn fault. Sure, the banks give out too many loans to people who can't afford them, but in recent years things have become much stricter; in any case though, a bank will never be able to apply every possible financial factor a person or family may or may not have. If a person is making enough to afford the monthly payment, that's what the bank factors; in most cases now a bank will factor in groceries, utilities, and car payments, and then finally decide whether or not you may be able to qualify. In the end it comes down to personal responsibility, and people are foreclosed on due to their own greed and stupidity.

[QUOTE=ItchyBarracuda;33668267]Jokes on him, now he's homeless and broke for the rest of his life because the banks will never let this go until they get what he owes. [B]Edit:[/B] How the fuck does this have 25 winners? I'd love for you guys to do the same thing and expect to get away with such reckless infantile behavior.[/QUOTE] Actually, since he owned the property at the time of bulldozing it he owes them not a cent more than before. It's out of pure rage, really.

[QUOTE=ForgottenKane;33692733]Actually, since he owned the property at the time of bulldozing it he owes them not a cent more than before. It's out of pure rage, really.[/QUOTE] I believe the bank could reassess the value of the property, in which case if it now came out lower than what he owes they could go after more of his assets, which apparently they are already doing. By the way, anyone notice what appears to be a luxury car parked in his drive way?

[QUOTE=BusterBluth;33693472]I believe the bank could reassess the value of the property, in which case if it now came out lower than what he owes they could go after more of his assets, which apparently they are already doing. By the way, anyone notice what appears to be a luxury car parked in his drive way?[/QUOTE] He owns those car(s) but transferred them to his father's name to prevent the bank from repossessing them.

Why not bulldoze the bank?

[QUOTE=icefire.wi;33694418]Why not bulldoze the bank?[/QUOTE] [media]http://www.youtube.com/watch?v=8ZMSZ5DMCSY[/media]