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Show I Farmers Obtain Longer Loan Terms I 'Hie opportunity t0 reduce tin-'iiimiiil tin-'iiimiiil principal payments on l-nid Bank Commissioner l0iie lv roanioiLizins llieni over longer lH-nod ol years lias been opened1 ,to many pf tho 1,038 Cache f0. unty farmers who have Commissioner Commiss-ioner loans, according l0 a state ment received ,today from ti,o rami Credit Administration of Berkeley. There were about $1,089,000 of Umd Bank Commissioner loans outstanding in this county at the beginning of 1940 and in addition addit-ion approximately $3,241,000 of 1-ederal land bank loans. Many ol these loans have already been reamortized. Most of the Federal land-bank loans are already written for long terms up to 30 odd years, but tho "Commissioner's" loans were originally made on a 10 -year basis, requiring considerably heavier hea-vier principal payments. In a Tecent statement from Washington, A. G. Black, Governor Gov-ernor of the Farm Credit Administration, Admin-istration, said many of the "Commissioner's" "Com-missioner's" loans were being re-amortized re-amortized over a longer period of years in order to ease the payments pay-ments of farmers with the heaviest heav-iest mortgages. Spreading out the payments over a longer period i will provide these farmers wi.h same opportunity of working out of debt as already provided lor Federal land bank borrowers through long-term repayment periods, Governor Black said. Federal land bank loans are all first mortgage loans whereas .xhe Commissioner's loans are made on both first and second mortgage mort-gage security. |