FEDERAL · 12 U.S.C. · Chapter 13
Mortgage proceeds fraudulently misappropriated by mortgagor; recovery of deficiency after foreclosure
Current through Pub. L. 119-102
The Secretary of Housing and Urban Development shall take action to secure the payment of any deficiency after foreclosure on a mortgage insured or assisted under Federal law where the Secretary has reason to believe that the mortgage proceeds have been fraudulently misappropriated by the mortgagor.
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12 U.S.C. § 1701l–1 (Mortgage proceeds fraudulently misappropriated by mortgagor; recovery of deficiency after foreclosure) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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History
(Pub. L. 93–383, title VIII, §819, Aug. 22, 1974, 88 Stat. 740.)
Editorial Notes
Editorial Notes
Codification
Section was enacted as part of the Housing and Community Development Act of 1974, and not as part of the National Housing Act which comprises this chapter.
Codification
Section was enacted as part of the Housing and Community Development Act of 1974, and not as part of the National Housing Act which comprises this chapter.