A concurrent resolution expressing the sense of the Congress with respect to Farm Credit System agricultural loan restructing.

Summary

Expresses the sense of the Congress that the Farm Credit System should take specified actions to assist borrowers, including: (1) participating to the maximum extent possible with the Farmers Home Administration and other Government guarantee programs to provide 1986 operating loans; (2) following policies of reasonable loan forbearance; (3) using loan restructuring; (4) emphasizing loan servicing approaches that help borrowers meet the conditions of their loan contracts; (5) resorting to foreclosure only when there is no alternative or when the associated costs would be less than loan restructuring; (6) providing defaulting borrowers with the opportunity to bid on foreclosed property; and (7) maintaining sound institutional credit policies.

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1 official file

• Introduced in Senate

  summary · EN · 14 May 1986

  Open at official source

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