Current through September 30, 2024
Section 772.14 - Reamortization of AMP loansThe Agency may approve reamortization of AMP loans provided:
(a) There is no extension of the final maturity date of the loan;(b) No intervening lien exists on the security for the loan which would jeopardize the Government's security position;(c) If the account is delinquent, it cannot be brought current within one year and the borrower has presented a cash flow budget which demonstrates the ability to meet the proposed new payment schedule; and(d) If the account is current, the borrower will be unable to meet the annual loan payments due to circumstances beyond the borrower's control.