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Current as of January 02, 2025 | Updated by Findlaw Staff
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.
Cite this article: FindLaw.com - Code of Federal Regulations Title 7. Agriculture § 7.772.14 Reamortization of AMP loans - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-7-agriculture/cfr-sect-7-772-14/
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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