12 U.S.C. § 3768
Deficiency judgment
United States · Title 12 — BANKS AND BANKING · Status: effective
Cite this
- Citation
- 12 U.S.C. § 3768, Deficiency judgment, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/438601
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Full text
If after deducting the payments provided for in section 3762 of this title, the price at which the security property is sold at a foreclosure sale is less than the unpaid balance of the debt secured by the security property, resulting in a deficiency, the Secretary may refer the matter to the Attorney General who may commence an action or actions against any or all debtors to recover the deficiency, unless such an action is specifically prohibited by the mortgage.
In any action instituted pursuant to this section the United States may recover—
Any action commenced to recover a deficiency under this section must be brought not later than 6 years after the date of the last sale of the security property.
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