The HOLC then refinanced the loans for the borrowers. The property is then refinanced, typically to a fully amortized 30-year loan. Typically, a refinanced loan will have a lower interest rate. The Farm Credit Administration refinanced many mortgages, reducing the number of displaced farming families. Billions of dollars of loans that previously would have been refinanced, were now due immediately. The HOLC eventually foreclosed on 20 percent of the loans that it refinanced. The campaign refinanced 20% of farmer's mortgages. He refinanced the national debt, dropping the interest rate from 4% p.a. to 3% p.a. To solve this problem, the Treasury refinanced the debt with variable short and medium-term maturities. The bank is refinanced through a variety of commercial debenture instruments. In 2014 Urban Splash was refinanced and restructured. The Readjuster Party refinanced the Commonwealth's debts and invested in schools, especially for African Americans. He refinanced the national debt dropping the interest from 4% to 3%. Heading towards bankruptcy, the company refinanced. The company was refinanced and left bankruptcy protection on 17 August 1927.