A borrower must meet the following eligibility requirements to be considered for primary loan servicing:
The delinquency or financial distress is the result of reduced repayment ability due to one of the following circumstances beyond the borrower's control:
Illness, injury, or death of a borrower or other individual who operates the farm;
Natural disaster, adverse weather, disease, or insect damage which caused severe loss of agricultural production;
Widespread economic conditions such as low commodity prices;
Damage or destruction of property essential to the farming operation; or
Loss of, or reduction in, the borrower or spouse's essential non-farm income.
The borrower does not have non-essential assets for which the net recovery value is sufficient to resolve the financial distress or pay the delinquent portion of the loan.
If the borrower is in non-monetary default, the borrower will resolve the non-monetary default prior to closing the servicing action.
The borrower has acted in good faith.
Financially distressed or current borrowers requesting servicing must pay a portion of the interest due on the loans.
The borrower must not be ineligible due to disqualification resulting from Federal crop insurance violation according to 7 CFR part 718.
Debtors with SA only must:
Be delinquent due to circumstances beyond their control;
Have acted in good faith.
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