StacksVerified U.S. regulatory reference

7 CFR §1951.242

Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
  1. (a)For the purpose of this section, a loan is delinquent when a borrower fails to make all or part of a payment by the due date.
  2. (b)The delinquent loan borrower and the Agency, at its discretion, may enter into a written workout agreement.
  3. (c)For loans that are delinquent, the borrower must provide, monthly comparative financial statements in a format that is acceptable to the Agency by the 15th day of the following month. The Agency may waive this requirement if it would cause a hardship for the borrower or the borrower is actively marketing the security property.