{"data":{"id":"us/7-cfr-766.113","jurisdiction":"us","citation":"7 CFR 766.113","heading":"Buyout of loan at current market value.","body":"(a) Borrower eligibility. A delinquent borrower may buy out the borrower's FLP loans at the current market value of the loan security, including security not in the borrower's possession, and all non-essential assets if:\n(1) The borrower has not previously received debt forgiveness on any other FLP direct loan;\n(2) The borrower has acted in good faith;\n(3) The borrower does not have non-essential assets for which the net recovery value is sufficient to pay the account current;\n(4) The borrower is unable to develop a feasible plan through primary loan servicing programs or a Conservation Contract, if requested;\n(5) The present value of the restructured loans is less than the net recovery value of Agency security;\n(6) The borrower pays the amount required in a lump sum without guaranteed or direct credit from the Agency; and\n(7) The amount of debt forgiveness does not exceed $300,000.\n(b) Buyout time frame. After the Agency offers current market value buyout of the loan, the borrower has 90 days from the date of Agency notification to pay that amount.","path":["Title 7—Agriculture","Subtitle B—Regulations of the Department of Agriculture","CHAPTER VII—FARM SERVICE AGENCY, DEPARTMENT OF AGRICULTURE","SUBCHAPTER D—SPECIAL PROGRAMS","PART 766—DIRECT LOAN SERVICING—SPECIAL","Subpart C—Loan Servicing Programs"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-7.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:01Z","sha256":"973756aefc5b745e037eb441919b13a1669f57b93a738149e6f6173610e0833a","source_id":"us-cfr","stale":true,"prev":"us/7-cfr-766.112","next":"us/7-cfr-766.114"},"notice":"GroundRules: Original legal text. Not legal advice."}