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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: pstuartb who wrote (242364)	3/26/2010 1:55:14 PM
From: ajtj99	Respond to of 306849

O/T That dime an hour back then was probably the equivalent to baby sitting money now. Back in the 30's farmers and bankers were not exactly the best of friends. Some bankers actually had to have personal security details, even if they were small town bankers. Towards 1933 there were a lot more workouts being done by the banks on foreclosures because the inventory they were carrying was so great, and if they could collect interest only for a few years, that was fine. Mortgages back then were more like land contracts anyway. It's funny, one set of my grandparents lost a house in the Great Depression to foreclosure, and another one arranged a workout with the bank.