12 U.S.C. § 3755
Prerequisites to foreclosure
United States · Title 12 — BANKS AND BANKING · Status: effective
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- 12 U.S.C. § 3755, Prerequisites to foreclosure, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/438588
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Full text
The Secretary is authorized to foreclose a mortgage under this chapter upon the breach of a covenant or condition in the mortgage agreement.
No foreclosure may be commenced under this chapter unless any previously pending judicial or nonjudicial proceeding that has been separately instituted by the Secretary to foreclose the mortgage (other than under this chapter), has been withdrawn, dismissed, or otherwise terminated.
No separately instituted foreclosure proceeding on a mortgage which is the subject of a foreclosure proceeding under this chapter shall be instituted by the Secretary during the pendency of foreclosure pursuant to this chapter.
Nothing in this chapter shall preclude the Secretary from—
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.
- Departments of Veterans Affairs and Housing and Urban Development, andIndependent Agencies Appropriations Act, 1995