Why did creditors foreclose on so many farms during the depression?

2 answers:

7 0

Many farmers borrowed money from banks using the equity in their property and equipment. Many of these loans were designed to cash in on the expansion of demand in the market. The Great Depression caused the markets to collapse and the banks foreclosed on the property for unpaid debt.

Georgia [21]3 years ago

4 0

Many farmers borrowed money from the bank to buy equipment so when the depression started they could not pay back the money causing the banks to take the land.

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