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sw ontario | And in '80's guy's that didn't have a non-recourse clause in there mortgage and thought they could just'walk away' from the financed farm that was underwater found them selves still owing difference between auction sale & debt on it......
When that was going on it was equally bad for homeowners, small business and lending institutions and there employees--elevator failures, machinery dealers,ect. was in same boat.....
Pretty hard to predict anything with certainity as yrs. ago who would have thought IH ,GM , Sears ect. would all fail.......
We were fortunate as we had hogs and profit per pig was better then than the last 1/2 doz. yrs. | |
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Loans called in the 80’s vs what could happen now?
