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East central nebraska | Yes there was a group of farmers that got debt forgiveness. If you had solvency there was no debt forgiveness. You tried to refinance your debt over a 20 year period and then hopefully have a son come home and work for nothing to help make the payments. The group that had debt erased were insolvent, they owed more than there recent land purchases were worth. So what happened is that they simply gave the farm back to FMHa or whoever, the land may have been worth $1,000 per acre and there was $2,000 per acre against it. But anyway to answer your statement. That group of farmers that got debt erased are old retired men that are no longer farming. The ones i know from my area are75 to 85 year old men. Their sons may be farming but in no way can you hold those sins upon the next generation. | |
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Rent.
