Canton Daily Ledger
WASHINGTON Due to the national public health emergency caused by coronavirus disease 2019 (COVID-19), the U.S. Department of Agriculture announced the temporary suspension of past-due debt collections and foreclosures for distressed borrowers under the Farm Storage Facility Loan and the Direct Farm Loan programs administered by the Farm Service Agency (FSA). USDA will temporarily suspend non-judicial foreclosures, debt offsets or wage garnishments, and referring foreclosures to the Department of Justice; and USDA will work with the U.S. Attorney’s Office to stop judicial foreclosures and evictions on accounts that were previously referred to the Department of Justice. Additionally, USDA has extended deadlines for producers to respond to loan servicing actions, including loan deferral consideration for financially distressed and delinquent borrowers. In addition, for the Guaranteed Loan program, flexibilities have been made available to lenders to assist in serv
1/27/2021 CHICAGO, Jan 27 (Reuters) - The U.S. Agriculture Department said on Wednesday it was temporarily suspending some debt collections from farmers facing financial distress due to the COVID-19 pandemic. The move is expected to affect 12,000 farmers who owe money under the government s Farm Storage Facility Loan and the Direct Farm Loan programs administered by USDA’s Farm Service Agency. Farmers largely supported former President Donald Trump, who had authorized billions of dollars in direct cash payments, over Joe Biden who took office this month. Years of low crop prices have pushed farmers deep into debt, though rising corn and soy prices have brought some optimism.
Afternoon Market Recap for Jan 27, 2021 farmprogress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from farmprogress.com Daily Mail and Mail on Sunday newspapers.
Pierre, SD, USA / DRGNews
Jan 27, 2021 1:09 PM
Due to the national public health emergency caused by coronavirus disease 2019, the U.S. Department of Agriculture is temporarily suspending past-due debt collections and foreclosures for distressed borrowers under the Farm Storage Facility Loan and the Direct Farm Loan programs administered by the Farm Service Agency. USDA will temporarily suspend non-judicial foreclosures, debt offsets or wage garnishments, and referring foreclosures to the Department of Justice; and USDA will work with the U.S. Attorney’s Office to stop judicial foreclosures and evictions on accounts that were previously referred to the Department of Justice. Additionally, USDA has extended deadlines for producers to respond to loan servicing actions, including loan deferral consideration for financially distressed and delinquent borrowers. In addition, for the Guaranteed Loan program, flexibilities have been made available to lenders to assist in servicing their