Agricultural Secretary suspends foreclosures

26 Apr Agricultural Secretary suspends foreclosures

Tom VilsackIn a move following Obama’s foreclosure moratorium, Secretary of Agriculture Tom Vilsack has suspended all foreclosure actions within the Farm Service Agency’s farm loan program. In a memorandum dated April 21, 2009, Vilsack stated:

In response to the economic challenges facing farmers, I will use my existing authority to temporarily suspend all foreclosures within the Farm Service Agency’s farm loan program for approximately 90 days. This time will also afford the Department the opportunity to review loans involving possible discriminatory conduct. We are also talking to the Department of Justice about exercising its authority to review existing litigation over these loans.

Considering other foreclosure moratoriums result in little more than delaying the inevitable, we should expect this move will not do enough to aid farmers in trouble.

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Chip Parker is the managing partner of Parker & DuFresne, P.A., where he represents Northeast Florida businesses and consumers facing bankruptcy, and homeowners facing foreclosure. His firm files more homeowners in the Mortgage Modification Mediation Program than any other law firm in Northeast Florida. Parker is the recipient of Jacksonville Area Legal Aid's prestigious Award for Outstanding Pro Bono Service. Mr. Parker is an active member of the National Association of Consumer Bankruptcy Attorneys and National Association of Consumer Advocates.
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