§ 3711. — 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: 12USC3711]
TITLE 12--BANKS AND BANKING
CHAPTER 38--MULTIFAMILY MORTGAGE FORECLOSURE
Sec. 3711. Foreclosure costs
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.
(Pub. L. 97-35, title III, Sec. 369C, Aug. 13, 1981, 95 Stat. 429.)
Section Referred to in Other Sections
This section is referred to in sections 3709, 3710, 3712, 3714 of
this title.
