The rancheros became land-rich and cash-poor, and the burden of attempting to defend their claims was often financially overwhelming. Grantees lost their lands as a result of mortgage default, payment of attorney fees, or payment of other personal debts. Land was also lost as a result of fraud. A sharp decline in cattle prices, the floods of 1861–1862, and droughts of 1863–1864 also forced many of the overextended rancheros to sell their properties to Americans. They often quickly subdivided the land and sold it to new settlers, who began farming individual plots.