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Old 12-14-2011, 11:56 PM   #6
Zeke
Self-Righteous Injun
 
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Join Date: Jul 2003
Location: Lewiston, ID
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Quote:
Originally Posted by wyo_rose View Post
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.
You do realize that the issue is default on the loan, not that a bank requires it for collateral.

If you pay the loan, nothing bad happens.

In reality, banks count on borrowers to pay their loans. I assure you they want $$$, not collateral
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