7 CFR § 1951.242 - Servicing delinquent Community Facility loans.
---
identifier: "/us/cfr/t7/s1951.242"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "7 CFR § 1951.242 - Servicing delinquent Community Facility loans."
title_number: 7
title_name: "Agriculture"
section_number: "1951.242"
section_name: "Servicing delinquent Community Facility loans."
chapter_name: "RURAL HOUSING SERVICE, RURAL BUSINESS-COOPERATIVE SERVICE, AND RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE"
subchapter_number: "H"
subchapter_name: "PROGRAM REGULATIONS"
part_number: "1951"
part_name: "SERVICING AND COLLECTIONS"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. 301; 7 U.S.C 1932 note; 7 U.S.C. 1989; 31 U.S.C. 3716; 42 U.S.C. 1480."
cfr_part: "1951"
---
# 1951.242 Servicing delinquent Community Facility loans.
(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.
(b) The delinquent loan borrower and the Agency, at its discretion, may enter into a written workout agreement.
(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.
[69 FR 70884, Dec. 8, 2004]