Banks that foreclose very seldom will finance the purchase for the new buyer- the property is on their books as a loss, and its "poison"- they need to get it off the books!
When I worked for Farm Credit, I got a couple of great loans after their present lender sent them my way- the loan got in trouble, but something happened in the meantime to greatly improve it (new management, change in operation, etc.), and former lender was excited about its prospects, but his regulators basically insisted he get it off the books. One turned out (after son took over management and banned scammer Dad from the property) to be the most profitable dairy I ever handled, bar none.
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Today's Featured Article - Product Review: Black Tire Paint - by Staff. I have been fortunate in that two of my tractors have had rear tires that were in great shape when I bought the tractor. My model "H" even had the old style fronts with plenty of tread. My "L" fronts were mismatched Sears Guardsman snow tires, which I promptly tossed. Well, although these tires were in good shape as far as tread was concerned, they looked real sad. All were flat, but new tubes fixed that. In addition to years and years of scuffing and fading, they had paint splattered on
... [Read Article]
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