Posted by JF in CT on July 25, 2013 at 02:54:51 from (71.88.46.81):
In Reply to: OT Rant. posted by LOU from Wi. on July 24, 2013 at 23:48:39:
Actually sometimes it works out against the bank like it did with my neighbors. They got a reverse mortgage just before the real estate bubble burst. $300k for a house that is now worth less than half that. They lived long enough to run the entire amount out (high monthly payments?). Now the bank owns a house that cost them twice what it is worth and can't do anything with it. It went to auction and didn't sell. They aren't paying the taxes on it and can't figure out how to recoup the massive loss.
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Today's Featured Article - Madison's County - by Anthony West. Philip Madison has been a good friend of mine for quite some time. He has patiently suffered my incessant chit chat on the subject of tractors for longer than I care to remember, and on many occasions he has put himself out, dropped what ever it was he was doing, to come and lend a hand cranking handles, or loading a find onto a trailer. Although he himself has never actually owned or restored a tractor, he was always enthusiastic and always around helping with other peoples projects.
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