The USDA announced the 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).
Additionally, the agency will temporarily suspend referring foreclosures to the Department of Justice (DOJ). USDA will work with the U.S. Attorney’s Office to stop judicial foreclosures and evictions on accounts that were previously referred to the DOJ.
“USDA and the Biden administration are committed to bringing relief and support to farmers, ranchers and producers of all backgrounds and financial status, including by ensuring producers have access to temporary debt relief,” said Robert Bonnie, deputy chief of staff for the Office of the Secretary.
According to USDA data, more than 12,000 borrowers—approximately 10 percent of all borrowers—are eligible for the relief.
