no welfare payments on this farm!!!!!!!! | i would not pay off your farm. if you want to live in a dream world and think you own it free and clear wake up and smell the coffee the tax man is serving. you worked your but off and paid a premium for the right to rent that parcel of land from the state and us gov. you do not own the wetlands, streams, creeks, and pretty sure you dont even own the ponds. with cheap intrest rates and weakening dollar why on earth would you pay it off. You speak of wanting to buy another farm soon which you may need money for plus some of the equity you have in your current farm. If you pay off the farm then 1 you will not have the cash, then 2 you will have to pay for more title work, new appraisal, and other paperwork just to get the bank back on your farm again. this is not free and banks have rules to follow, dont think for a second they wont need to do it. I disagree with all the posters who say pay it off, its not hard to find a investment that is returning better then the cost of money at the bank |
Should I pay off my farm mortgage?
