REAMORTIZATION OF RECAPTURE PAYMENTS.

SEC. 5314. REAMORTIZATION OF RECAPTURE PAYMENTS. Section 353(e)(7) of the Consolidated Farm and Rural Development Act (7 U.S.C. 2001(e)(7)) is amended by adding at the end the following: “(D) Reamortization.— “(i) In general.—The Secretary may modify the amortization of a recapture payment referred to in subparagraph (A) of this paragraph on which a payment has become delinquent by using loan service tools under section 343(b)(3) if— “(I) the default is due to circumstances beyond the control of the borrower; and “(II) the borrower acted in good faith (as determined by the Secretary) in attempting to repay the recapture amount. “(ii) Limitations.—116 STAT. 348 “(I) Term of reamortization.—The term of a reamortization under this subparagraph may not exceed 25 years from the date of the original amortization agreement. “(II) No reduction or principal or unpaid interest due.—A reamortization of a recapture payment under this subparagraph may not provide for reducing the outstanding principal or unpaid interest due on the recapture payment.