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Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

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Agricultural News


Update: No Accelerating or Foreclosing on Any Direct Loans

Fri, 04 Feb 2022 09:07:10 CST

Update: No Accelerating or Foreclosing on Any Direct Loans In January 2021, Secretary Vilsack announced a temporary suspension of past-due debt collection and foreclosures for distressed direct loan borrowers due to the economic hardship imposed by the COVID-19 pandemic. We are sending letters to direct loan borrowers that clarifies what that suspension means, but I'd also would like to take a few minutes to visit with you "in person".

Throughout 2021, some direct loan borrowers may have received a "Notice of Intent to Accelerate" in the mail. We understand this notice has caused some confusion and frustration. We want to assure you that the suspension on adverse actions, including foreclosures on direct loans is still in effect. We have not, and are not, accelerating your direct loans with the Farm Service Agency or foreclosing on your property securing those loans during this suspension.

Our goal is to keep borrowers on the land and in agriculture, producing the food and fiber our country needs, contributing to the rural and agricultural economy, and doing so with some peace of mind, knowing USDA is here to support you.




   

 

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