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| "My logic behind this is that the tractor is losing value through wear and tear and depreciation, whereas the land is gaining value. Seems like I'm losing double on the tractor from interest and depreciation."
If everything went in the crapper for a year or two and you didn't have enough money to pay both loans, which would you pay? I would pay the land loan, because in your own words, it is gaining in value, where as the tractor is depreciating. I'm pretty sure that's not what you were asking, but just the way I look at it. I would never want to risk losing the land before a tractor. | |
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Forbearance on mortgage to pay off tractor
