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 - Gatherin of the Orange - by Rick Nikolich. In July of 1998 I was talking to fellow Allis Chalmers collector Mike Schilling about the annual "Gathering of The Orange" AC show coming up in August of 1999. He got this wild idea that we should get a convoy of AC tractors and drive them from Charlotte, Michigan 105 miles to LaGrange, Indiana.
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Sell 1958 Hi-Altitude Massey Fergerson tractor, original condition. three point hitch pto engine, Runs well, photos available upon request
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