Farm Loan Mediation Act of 1986 - Prohibits the Secretary of Agriculture from making loans under the Consolidated Farm and Rural Development Act to persons in States not having a loan mediation system.
Requires such a system to provide for: (1) local mediation; (2) voluntary and mandatory mediation; (3) debtor and creditor eligibility; (4) foreclosure only after mandatory mediation; and (5) procedures in the case of unsuccessful mandatory mediation.
Introduced in House
Introduced in House
Referred to House Committee on Agriculture.
Executive Comment Requested from USDA.
Referred to Subcommittee on Conservation Credit and Rural Development.
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