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The Nation

March 03, 1987

The Farmers Home Administration will begin this week to mail notices of the possibility of foreclosure to 26,400 farmers who were delinquent on their loans by $100 or more on Dec. 31. Last year, the agency contacted 62,400 farmers, officials said. As of Jan. 1, farmers were delinquent on 30%, or $8.5 billion, of the $28.4-billion farm loan portfolio of the Agriculture Department lending agency. Last year, the agency resumed actions against delinquent borrowers at the end of a two-year moratorium on foreclosures ordered by a federal court in North Dakota.

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