The Rural Voice, 1986-02, Page 61.
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CANADIAN AGRA
FINANCIAL CORPORATION
FARM
MORTGAGES
WHAT YOU NEED ...
Expansion Capital
In a growing business, capital expenditures need to be made
• when enlarging a land base
• constructing new buildings
Consolidation of Long and Short Term Loans
To have only one mortgage payment to make from time to time.
Second Mortgage
When it may be to your advantage to leave a first mortgage in place at
favourable terms.
WHAT WE PROVIDE ...
Long Term Mortgage Funds for Ontario Farmers
Fast, efficient service to qualifying farm enterprises. Upon receipt of re-
quired information and loan approval, funds can be distributed within a
period of ten banking days.
Repayment Terms
To put the least strain on your cash flow. Interest is only paid twice yearly
and we take out existing mortgage(s) under certain circumstances.
We'II Advance Funds For Any Worthwhile Purpose.
Equally favourable terms, based on serviceability will be given on second
mortgages.
Tony Van Zon, General Manager and Financial
Co-ordinator, has had 30 years of banking ex-
perience with one of Canada's foremost
chartered banks. He held various positions at a
number of locations in Ontario, most of which
were in the field of lending and agricultural
lending in particular.
For further information please contact us at:
CANADIAN AGRA FINANCIAL CORPORATION
221 Josephine Street, Wingham, Ontario, NOG 2W0
Tel: 519-357-3660 Telex 069-55289
4 THE RURAL VOICE
FEEDBACK
474)111114,
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Farm is "pension plan"
I appreciate your drawing atten-
tion to the fact that a moratorium
on farm foreclosures will place in
jeopardy, in some cases, the "pen-
sion plan" of some retired
farmers. (One Man's Opinion by
Adrian Vos).
These so called "pension plans"
were built largely on the infla-
tionary value of land and chattels
during the 1960s and '70s rather
than from the profits of the farm-
ing enterprises. It is a pension plan
supported wholly on the supposi-
tion that the rate of inflation we
experienced during these years was
normal and permanent, allowing
us to ignore the necessity for profit
from our farming endeavours. The
"pensioners" who accepted the
premise of continued inflation
must also accept the risk that they
took.
Without a moratorium on forc-
ed sales and foreclosures, we will
experience a rapid devaluation of
the "pension plan" because of the
acreage and chattels being li-
quidated on an already reluctant
buyers' market.
There are a large number of
semi -retired farmers who have
backed their sons to the limit with
their "pension plan." These sons
will be forced to liquidate because
of inadequate returns from the
marketplace. Without a
moratorium to provide a breathing
space to develop due and con-
siderate process, not only will
agriculture lose a son, but a father
will be forced into dependency on
the social welfare system.
We will be forced to deal with
far greater hardship in far greater
number if we fail to address the
moratorium on farm foreclosure in
its proper perspective.
Thank you for highlighting this
very immediate and crucial issue.
Jim Boak
R.R. 1, Morpeth
Letters should be addressed to:
The Rural Voice, Box 37, 10A The
Square, Goderich, Ontario, N7A
3 Y5.