Pawnee,gage county, neb | buddyandkirby - 9/23/2014 22:26
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. your wrong,there are still some of the guys that got debt forgiven still in the game, they are not all 75-85 years old like you claim, I know of 5 such guys that got debt write off in my area & they are all still farming & buying land, why should us that paid all our payments & never had a penny of debt wrote off have to compete against these guys that did have debt forgiven when a piece of land comes up for sale? I myself have bid against two such guys at land auctions simply because of the fact I wasn't going to let them end up with the farms, they shouldn't be allowed to participate in any government loan programs after the date of their write off either as far as I'm concerned, |
Rent.
