[the chi]

I didnt read the article, however i Heard this guy interviewed on the radio yesterday. Very mellow, laid back kinda dude.

His story:

He used his house as cross collateral on a commercial property, business tanked and he fell behind. When the bank decided to foreclose, instead of taking his business property, they took his house instead and refused to allow him to make up the past due payments on the business. Apparently they turned his check away for 10K when he tried.

They also refused to let ANYONE else buy the home. He had someone willing to buy it and basically sell it back to him for the balance of it at auction and the bank president was quoted by someone as stating heck no, I've got the bid in on that house (and it was like 220K or something WELL BELOW what the home is worth).

Since they refused any payments from him, and they were determined to make him homeless (my words, not his) he just took a bulldozer to it. They can have the land he said, but not the house it took him 3.5 years to build himself.

What makes it even more interesting, his commercial property is valued at like 1.5 million, and it would have been more sound if the bank had taken the commercial property and sold it to get their money back, but instead they took his home, that he was not late on and refused the commercial property altogether.

And the whole interview the guy wasnt blaming or angry, just very matter of fact. He did state what he did was not against the law, and so far he hasnt heard a peep out of the bank.