Who wants to be SF3s neighbor? BTO?

[SASKFARMER3]

No oil potash few thousand feet down.

[sumdumguy]

Inputs and 'necessary" equipment have become so rediculous. It's not the way we survived our 32 years. When you start with $700 and have to sell a bin off the yard to pay the lawyer, you learn to farm within your means. Guess changing times make changing ownership. Knocking themselves out to do what? Produce more for less! Borrow more money - its cheap, but life isn't, its precious short.

[bucket]

First off. I am not against BTOs.

But I am against guys that use the system of debt review to get there.

You have to see this where governments want ag to go and don't write the policy but imply it with the likes of elmsey in the background with the cppib as the backer.

Call me a lunatic but it's not a good path to follow.

As I said on another thread ....we are still competing against garden hoes for our product. And the guys with hoes are being government supported to 10 bucks a bushel.

[Klause]

Bucket, isn't the farm debt board really the government "helping" guys... isn't that what you advocate on here all the time?



One of my wife's family used to work for the FDRB... wow there's some interesting stories.

[bucket]

Klause .... hold on.

I am talking about guys that bid land up and then got it on less than 30 cents on the dollar they bid. Now running around promoting a billion dollar irrigation project to help themselves on guys like you.

[bgmb]

Just for fun I talked to an input capital guy at a tradeshow. I wanted to see just how greasy their system was. As I suspected it is geared at the desperate who cant get money at the banks. It makes allowances for users to push their problems further down the road, problem is the problems are then bigger down the road....... And input hopes to get the farm at that point?

[WiltonRanch]

It sucks for the guys that need the fdrb if things get tough. These snakes out there who use it er abuse it are the ones that wreck it.

[Grahamp]

I hear people talk on here about the debt review board and how farmers take advantage of it. Does that actually happen? Has any farmer built a large operation by taking advantage of the debt review board?

[farmaholic]

How could anyone borrow money for land and not come up with some sort of down payment?

You would be out your down payment and maybe-hopefully some other payments before you couldn't or decided wouldn't continue paying....then went through the process. I'm not arguing that people can't benefit from this but I don't think it's as lucrative as it appears. As I said the down payment would be spent (unless the purchase was only backed by paid for land as security) and early payments are always weighted more to the interest portion of the payments...and that would be gone too. I assume the write down wouldn't drop the price of the land lower than local current market value.

I would be pissed though if I was in the running for buying the same land and lost it to a guy who "out bid his own ability to pay for it" and had it written down. Do they deserve a second chance or "first right of refusal" if there are other contenders willing to pay market price?

[SASKFARMER3]

Grass wood auctions is handling the sale, catalogue not ready yet.