A bill to direct the Secretary of Agriculture to forego foreclosure and defer payment with respect to certain loans of the Farmers Home Administration.

openUnited States· United States Congress· EN

Introduced

27 January 1983

Last action

—

Status

Executive Comment Requested from USDA.

Summary

Amends the Consolidated Farm and Rural Development Act to permit family farmers to request economic hardship loan repayment and foreclosure deferrals. Requires a showing of: (1) good management; (2) temporary inability to pay due to circumstances beyond one's control; and (3) reasonable chance of repayment. Requires the Secretary of Agriculture to provide notification of such programs to Farmers Home Administration borrowers. Provides for loan consolidation and rescheduling (at interest rates not in excess of the original loan rates) at the end of such deferral period.

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Documents

1 official file

Introduced in House
summary · EN · 27 January 1983
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/98th-congress/house-bill/1024
Open data entity: https://api.congress.gov/v3/bill/98/hr/1024