Skip to main content
SCONRES 138 99th Congress Senate Agriculture and Food Agricultural credit Agriculture and Rural Affairs Foreclosure

A concurrent resolution expressing the sense of the Congress with respect to Farm Credit System agricultural loan restructing.

Introduced: May 14, 1986 See on congress.gov
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 14, 1986
Referred to the Committee on Agriculture.
May 14, 1986
Introduced in Senate
 Plain-English summary Congressional Research Service

Expresses the sense of the Congress that the Farm Credit System should take specified actions to assist borrowers, including: (1) participating to the maximum extent possible with the Farmers Home Administration and other Government guarantee programs to provide 1986 operating loans; (2) following policies of reasonable loan forbearance; (3) using loan restructuring; (4) emphasizing loan servicing approaches that help borrowers meet the conditions of their loan contracts; (5) resorting to foreclosure only when there is no alternative or when the associated costs would be less than loan restructuring; (6) providing defaulting borrowers with the opportunity to bid on foreclosed property; and (7) maintaining sound institutional credit policies.

What's happening now May 14, 1986

Referred to the Committee on Agriculture.

 Committees of jurisdiction 1