Quote:
Originally Posted by Hack&Lube
No. If you read the article, his carpet business went under when his brother sued him and the bank claimed his store and home as collateral. He could not just sell the house because the bank had a claim on it.
The closest was an offer he had for $170K which he would have taken but the bank refused to accept this sale and they had the last say. The bank thought they could get more on the market than the $170K that the buyer offered. Therefore, he had no choice.
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No choice but to destroy his house? He had a choice, let the bank forclose, and let the proceeds take care of his business debts. Thats how an adult handles it, thats how it works when you sign something over as collateral. He had to have secured the business loan with his home consentually with the bank, the bank can't secure a loan without your signature, or a court order.
This is no different than arson, and I am sure there will criminal charges. He destroyed the Banks property, not his. Go throw a a molotov cocktail through the window of your car in broad daylight in front of witnesses and see how that goes if there is a bank loan on it. No different, you would be going to jail or charged with fraud.
This is not that far off of Austin Texas plane crasher guy. Sure they got screwed by a system that isn't percieved as fair, but their solutions are ignorant.