With the current financial uncertainty due to the coronavirus pandemic, USDA is extending loan deadlines. Farm Service Agency Administrator Richard Fordyce said USDA is taking “every option and flexibility to provide producers with credit options and other program benefits.” USDA will also temporarily stop any loan accelerations or non-judicial foreclosures. The regional Attorney’s General Office will determine the fate of those foreclosure actions. The Risk Management Agency is also announcing new flexibility considerations. Crop insurance providers are now authorized to provide additional time to pay premiums or administrative fees. Interest accrual on premium payments are being waived an additional 60 days. Farmers can also address acreage and production reporting electronically.
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