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e-CFR data is current as of July 1, 2020

Title 7Subtitle BChapter XVIIISubchapter HPart 1951Subpart A → Appendix


Title 7: Agriculture
PART 1951—SERVICING AND COLLECTIONS
Subpart A—Account Servicing Policies


Exhibit B to Subpart A of Part 1951—Notice of Change in Interest Rate

(insert date)

Notice of Change in Interest Rate

 

(insert borrower's address)

Re:

Fund code

Loan number

Kind code

Dear (insert borrower's name and case number): Your promissory note dated ___, for the original amount of ___ dollars ($___) provides for a change in interest rate for a limited resource loan in accordance with the Farmers Home Administration or its successor agency under Public Law 103-354 regulations.

Effective (insert date) the interest rate on this loan will be __ percent (   %) on the unpaid principal balance. Your installment due January 1, 19   , will be ___ dollars ($___). This change in interest rate is for the reason indicated below.

Increase in repayment ability as per Farm and Home Plan dated ___.

(insert reason if other than above for increase in interest rate).

You may appeal this action by writing to (hearing officer), (address), within 30 calendar days of the date of this letter, giving the reason why you believe this matter should be decided differently. This time may be extended if you cannot notify the hearing officer within 30 days for reasons beyond your control.

[56 FR 3396, Jan. 30, 1991]

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