7 CFR § 3550.204 - Payment assistance.

---
identifier: "/us/cfr/t7/s3550.204"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "7 CFR § 3550.204 - Payment assistance."
title_number: 7
title_name: "Agriculture"
section_number: "3550.204"
section_name: "Payment assistance."
chapter_name: "RURAL HOUSING SERVICE, DEPARTMENT OF AGRICULTURE"
part_number: "3550"
part_name: "DIRECT SINGLE FAMILY HOUSING LOANS AND GRANTS"
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; 42 U.S.C. 1480."
regulatory_source: "61 FR 59779, Nov. 22, 1996, unless otherwise noted."
cfr_part: "3550"
---


# 3550.204 Payment assistance.

Borrowers who are eligible may be offered payment assistance in accordance with subpart B of this part. Borrowers who are not eligible for payment assistance because the loan was approved before August 1, 1968, or the loan was made on above-moderate or nonprogram (NP) terms, may refinance the loan in order to obtain payment assistance if:

(a) The borrower is eligible to receive a loan with payment assistance;

(b) Due to circumstances beyond the borrower's control, the borrower is in danger of losing the property; and

(c) The property is program-eligible.