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Notes

§772.14. Reamortization of AMP loans.

7 C.F.R. § 772.14

The Agency may approve reamortization of AMP loans provided:
(a)
There is no extension of the final maturity date of the loan;
(b)
No intervening lien exists on the security for the loan which would jeopardize the Government's security position;
(c)
If the account is delinquent, it cannot be brought current within one year and the borrower has presented a cash flow budget which demonstrates the ability to meet the proposed new payment schedule; and
(d)
If the account is current, the borrower will be unable to meet the annual loan payments due to circumstances beyond the borrower's control.
Notes, amendments, and revision history

Authority

Authority: 5 U.S.C. 301, 7 U.S.C. 1989, and 25 U.S.C. 490.

Source

Source: 68 FR 69949, Dec. 16, 2003, unless otherwise noted.