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The process—usually achieved with a combination of intimidation, threats, and physical force—effectively circumvents foreclosure by forcing the lender to relinquish the property without an opportunity to recuperate the balance of the loan. The term arose during the foreclosure of farms during the Great Depression in the United States.
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The farm was being foreclosed on. [1] In her youth, Frey had wanted to follow her brothers off the farm and move to a city, but following the threat of the farm's repossession, she decided to help save it. [3] [5] She purchased the farm outright at age 18. [4] At the time it was in two parcels, the original 80 acres and another parcel of 20. [1]
The highways into Sioux City and Council Bluffs, Iowa, were blocked by pickets who dumped farm produce on the side of the road. [3] At Le Mars, Iowa some farmers dragged a judge out of his courtroom, placed a noose around his neck, and threatened to hang him unless he stopped approving farm foreclosures. The striking farmers were countered by ...
The population of Black farm owners in operation in the U.S. has dwindled dramatically, from nearly a million farmers in 1920 to currently representing less than 50,000.. Black farmers have been ...
The Frazier–Lemke Farm Bankruptcy Act restricted the ability of banks to repossess farms, [1] amended the previously voluntary Section 75, and added subsection (s), [3] which delayed foreclosure of a bankrupt farmer's property for five years during which the farmer made rental payments. The farmer could then buy back the property at its ...
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