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This page was modified on 10/10/2006
Home Equity - Ag Use Valuation Property
 
Question:  Can the bank recommend to a customer that he remove the ag use valuation on his property and then use it as collateral for a home equity loan?
 
Answer:  Very bad idea.  There is a recent bankruptcy case (which will be appealed) that states that a customer can assert the ag use valuation at any time and defeat the creditor's ability to foreclose!
 

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