§ 493. Reduction of unpaid principal
(a)
In general
The Secretary of Agriculture may, on the application of the borrower of a loan or loans made under sections
488 to
494 of this title, reduce the unpaid principal balance of such loan or loans to the current fair market value of the land purchased with the proceeds of the loan or loans if—
(b)
Fair market value
(d)
Future applications
A borrower that had a loan or loans reduced under this section shall not submit an application for another reduction on such loan or loans for a period of 5 years after the initial reduction.
[1] See References in Text note below.