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Old 12-14-2011, 11:40 PM   #4
AmigoKumeyaay
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Join Date: Nov 2009
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Quote:
Originally Posted by wyo_rose View Post
OMG, 'privatizing' reservation land?? Sounds like a good ploy to take NDN land out of NDN hands. I've seen the way banks on the rez here foreclose on tribal people's land...that's why they could afford to open a branch here on the rez. Makes me sick!!

LUCKILY there's a lot of land in trust here. Trust land isn't shared by the whole rez. My grandma bought her land from one of the original allottees of the land parcel. It is held "in trust" and has now been inherited by my cousins and myself. It's not owned by the tribe. We could choose to take it out of trust, turning it into "fee patent" land and start paying county taxes on it.

That would free it up to be used as collateral on loans, and the banks would sure LOVE that. They count on natives to default on their loans. It's appalling to see how a certain bank probably made $200K on land taken on collateral on a $20K loan.

So is that REALLY how non-natives get business loans...putting up their land as collateral???

Forbes needs to do another take!! I just see it as another way for the rich to get richer.

Why isn't there someone out there willing to put up micro-loans, mini-loans, store front space to rent out? Offer business classes, organize crafters and artists to help them sell their product?
Yep! Your post is much like those in the Comments Section following the Forbes article. You should go there and post up!

I will go get a few of the reader's comments to post here...very informative.
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