---
kind: "section"
citation: "7 C.F.R. § 1951.242"
title: "7"
number: "1951.242"
heading: "Servicing delinquent Community Facility loans."
url: "https://uscodex.org/cfr/7/1951.242"
---

# §1951.242. Servicing delinquent Community Facility loans.

- (a) For the purpose of this section, a loan is delinquent when a borrower fails to make all or part of a payment by the due date.
- (b) The delinquent loan borrower and the Agency, at its discretion, may enter into a written workout agreement.
- (c) For loans that are delinquent, the borrower must provide, monthly comparative financial statements in a format that is acceptable to the Agency by the 15th day of the following month. The Agency may waive this requirement if it would cause a hardship for the borrower or the borrower is actively marketing the security property.

## Notes

### Amendments

[69 FR 70884, Dec. 8, 2004]

### Source

Source: 55 FR 4399, Feb. 8, 1990, unless otherwise noted.

### Authority

Authority: 5 U.S.C. 301; 7 U.S.C 1932 note; 7 U.S.C. 1989; 31 U.S.C. 3716; 42 U.S.C. 1480.

### Amendments

[69 FR 70884, Dec. 8, 2004]