Financial Relief, Zero Interest, and Home Protection for Distressed Farmers
This Act provides a two-year deferral of payments and zero interest on direct farm loans for financially distressed farmers. It increases transparency in USDA loan decisions, makes it harder for the government to use a farmer's primary residence as collateral, and reforms the appeals process to favor lower-income applicants. These changes aim to stabilize farm finances and ensure fairer access to credit.
Key points
Two-year payment deferral and zero interest rate on direct farm loans for eligible distressed borrowers.
Limits the USDA's ability to use a farmer's principal residence as loan collateral; the home must be the last option for security.
Reforms the appeals process for low-income farmers (under $300,000 AGI): the agency must prove its denial was correct.
Prohibits restricting eligibility for new loans based on a farmer's previous debt write-down or financial loss.
Status:
Expired
Record your position for audit.
Why does your vote on bills matter?
It creates raw, undeniable proof. Civic Will provides the permanent data to verify the Government's loyalty towards its citizens
(explained here).
Start recording it now.