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Re: The mortgage crisis and your farm?


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Posted by georgeky on September 16, 2007 at 20:01:45 from (205.188.117.74):

In Reply to: Re: The mortgage crisis and your farm? posted by barnrat on September 16, 2007 at 18:32:10:

You borrowed for something that has potential to pay out. Lots of folks have borrowed on nothing but a house and 4 cars, a boat, 2 jet skis and 4 atv's. These things will never make a nickle. In 94 I bought a new Ford 7610 tractor. I went to the bank and ask about borrowing money for it, and my banker told me that they really didn't like to make farm loans anymore. I never ask another question and left. On my way out of his office he told me if I needed a new boat, home equity loan or motor home to give him a call. I closed my accounts there and went down the street to the other bank I used and no problems. It was owned by local folks instead of an out of town holding company. You were lucky that your bank even talked to you about a dairy. My credit has always been good, so all this confused me.


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