Don't use land certificates as collateral<\/p>\n
JAKARTA (JP): The government is appealing to land owners,
\nparticularly rice farmers, not to use their land certificates as
\ncollateral for bank loans because they could lose their most
\ntreasured possession.<\/p>\n
\"Think twice before you offer the land certificates as
\ncollateral. If you cannot repay the loan one day, the bank will
\nauction your land and you lose possession,\" State Minister of
\nAgrarian Affairs Soni Harsono was quoted as saying.<\/p>\n
Soni said the government is particularly concerned that more
\nand more people, farmers in particular, are mortgaging their land
\nagainst loans, putting their livelihood at great risk, the Antara
\nnews agency reported in a dispatch from Surakarta in Central
\nJava.<\/p>\n
His comment came as more and more farmers are defaulting on
\ntheir loans. There could be more problems on the way as many
\nfarmers in Java are reporting major crop failures because of the
\nsevere dry spell.<\/p>\n
Soni also announced that the government is relaunching its
\nprogram to issue land certificates en masse for farmers who are
\nentitled to obtain them after tilling their plots for a long
\ntime. (emb)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/dont-use-land-certificates-as-collateral-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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