Posted by gitrib on February 28, 2009 at 06:52:43 from (12.175.230.36):
In Reply to: Re: Farm loans posted by NcNE on February 27, 2009 at 19:22:30:
FSA is good but never get a Bank loan gaurenteed by FSA. I have seen what some banks will do, One farm next to me has had four owners in 20 yrs. It was not the farmer fault. The bank was all smiley and happy until they decided to close down. Then they really make the money. On those gaurenteed loan then government covers 90 percent/ Everytime this farm was sold out it was sold at sheriff sale and the bank enged up buying it.and then turned around and set up another unlucky farmer. The bank alway ended up making a big bunch of money. Remember, What the farm brought at the sherriff sale determines the lose the bank suffers. It was a real racket It is terrible to watch them just rape a farm buy selling equipment off of it before they sell the land. gitrib
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