12 U.S.C. § 3711 — Foreclosure costs

FEDERAL · 12 U.S.C. · Chapter 38

Foreclosure costs

Current through Pub. L. 119-102

Title 12 — Banks and Banking·Ch. 38 — MULTIFAMILY MORTGAGE FORECLOSURE

The following foreclosure costs shall be paid from the sale proceeds prior to satisfaction of any other claim to such sale proceeds:

(1)necessary advertising costs and postage incurred in giving notice pursuant to sections 3708 and 3710 of this title;

(2)mileage for posting notices and for the foreclosure commissioner's attendance at the sale at the rate provided in section 1921 of title 28 for mileage by the most reasonable road distance;

(3)reasonable and necessary costs actually incurred in connection with any necessary search of title and lien records;

(4)necessary out-of-pocket costs incurred by the foreclosure commissioner to record documents; and

(5)a commission for the foreclosure commissioner for the conduct of the foreclosure to the extent authorized by regulations issued by

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The following foreclosure costs shall be paid from the sale proceeds prior to satisfaction of any other claim to such sale proceeds:
(1) necessary advertising costs and postage incurred in giving notice pursuant to sections 3708 and 3710 of this title;
(2) mileage for posting notices and for the foreclosure commissioner's attendance at the sale at the rate provided in section 1921 of title 28 for mileage by the most reasonable road distance;
(3) reasonable and necessary costs actually incurred in connection with any necessary search of title and lien records;
(4) necessary out-of-pocket costs incurred by the foreclosure commissioner to record documents; and
(5) a commission for the foreclosure commissioner for the conduct of the foreclosure to the extent authorized by regulations issued by the Secretary.

12 U.S.C. § 3711 (Foreclosure costs) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Pub. L. 97–35, title III, §369C, Aug. 13, 1981, 95 Stat. 429.)

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Source Credit

History