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Current as of January 02, 2025 | Updated by Findlaw Staff
(a) If a borrower, who is financially distressed or current, requested loan servicing and received FSA–2512, but fails to respond timely and subsequently becomes 90 days past due, the Agency will notify the borrower in accordance with § 766.101(a)(2).
(b) If a borrower who is 90 days past due and received FSA–2510 or FSA–2510–IA, or is in non-monetary, or both monetary and non-monetary default and received FSA–2514, and fails to timely respond or does not submit a complete application within the 60–day timeframe, the Agency will notify the borrower by certified mail of the following:
(1) The Agency's intent to accelerate the loan; and
(2) The borrower's right to request reconsideration, mediation and appeal in accordance with 7 CFR parts 11 and 780.
Cite this article: FindLaw.com - Code of Federal Regulations Title 7. Agriculture § 7.766.103 Borrower does not respond or does not submit a complete application - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-7-agriculture/cfr-sect-7-766-103/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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