§ 3761. — Foreclosure costs.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC3761]
TITLE 12--BANKS AND BANKING
CHAPTER 38A--SINGLE FAMILY MORTGAGE FORECLOSURE
Sec. 3761. Foreclosure costs
The following foreclosure costs shall be paid from the sale proceeds
before satisfaction of any other claim to such sale proceeds:
(1) Advertising and postage
Necessary advertising costs and postage incurred in giving
notice pursuant to sections 3758 and 3760 of this title.
(2) Mileage
Mileage (determined by the most reasonable road distance) for
posting notices and for the foreclosure commissioner's or
auctioneer's attendance at the sale, as provided in section 1821 of
title 28.
(3) Title and lien search
Reasonable and necessary costs incurred in connection with any
search of title and lien records.
(4) Recordation fees
Costs incurred to record documents.
(5) Commission
A commission for the foreclosure commissioner (if the
foreclosure commissioner is not an employee of the United States)
for the conduct of the foreclosure, to the extent such a commission
is authorized by the Secretary.
(Pub. L. 103-327, title II, Sept. 28, 1994, 108 Stat. 2316.)
Codification
Section is based on section 812 of title VIII of S. 2281, One
Hundred Third Congress, as reported July 13, 1994, which was enacted
into law by Pub. L. 103-327.
Section Referred to in Other Sections
This section is referred to in sections 3759, 3760, 3762 of this
title.
