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| From what I've seen the banks "here" are in a pretty good situation on land loans. They either required such large down payments or required so much paid for dirt to be put up as collateral that if borrowers don't pay, they'll be just fine on their investment in them if they have to foreclose. This is providing land prices don't completely collapse. Huge operating loans and equipment loans are another ball game though. Also property taxes have become so high on farmland now, it's becoming a huge burden to bear in these times of low returns even if land is bought and paid for. | |
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More now vs. then
