That's because they mortgaged the farm a year before the banks went under and the credit froze up. Why? Because FORD WAS 3 MONTHS FROM GOING BANKRUPT!!! [source: "American Icon" the book about Ford's turnaround]. It was in no way that Ford was any better off, in fact they were so bad they would have went under first (Chrysler and GM would have followed shortly after).
Ford did take the handout and in fact still owes the government: