Minnesota Legislators approve farmer lender mediation extension
Minnesota lawmakers have unanimously approved extending the deadline for farmer lender mediations.
Representative Todd Lippert of Northfield introduced the bill that he says helps keep farmers on the farm.
“So much is up in the air with the farm economy right now, (so) we want to give some time for markets to stabilize. To get some idea of federal payments, (what) support for farmers might be. We don’t want farmers or lenders to be forced into a bad decision because they don’t feel like they have time.”
Minnesota Farmers Union president Gary Wertish says extending the deadline will give farmers and lenders more time to reach a mutually beneficial plan for managing debt.
The legislation extends the mediation period to December 1st.