Servicing of Community and Insured Business Programs Loans and Grants
rural-development · Rural Housing Service · Rule · Published 1998-08-05 · Effective 1998-08-05 · 63 FR 41713
Document
Document number
98-20914
Federal Register citation
63 FR 41713
CFR reference
7 CFR 1951
Type
Rule
Action
Final rule.
Category
rural-development
Sub-agency
Rural Housing Service
Publication date
1998-08-05
Effective date
1998-08-05
Abstract
The Rural Utilities Service (RUS) hereby amends the regulations utilized to service loans and grants. The final rule will permit loan reamortization with interest rate adjustment for eligible delinquent borrowers. The final rule will provide debt relief to troubled borrowers and encourage these organizations to remain in operation and resume scheduled loan payments. The final rule will also provide RUS greater flexibility to service problem loans and permit a viable, cost effective alternative to debt write-offs.