FRB logo

Abstract: This paper describes New Deal farm mortgage debt relief programs, implemented through the Federal Land Banks and the Land Bank Commissioner. Along with the Home Owners' Loan Corporation, the analogous program for nonfarm residential mortgage borrowers, these were the first large-scale mortgage debt relief programs in US history.

Keywords: Loan modification, farm mortgages, New Deal, Great Depression

Full paper (385 KB PDF) | Full paper (Screen Reader Version)