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Hooker Twp,Ne | I remember at the time having fixed rates on land loans but the operating note was variable. And the operating note going to 18% and the bank wanted their interest money every 3 months. Now that starts to get a bit tuff when a crop came but once a year. And watching your land equity drop. Land bank was in trouble and banks were lending out money to pay interest. And the FHA man was seeing the same hogs and cattle and machinery just on different farmsteads on different days. Wild times. My dad passed in 86 at the age of 56. The stress didn’t help the situation. | |
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Fighting inflation