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U.S. Code as of:
01/19/04
Section 3768. Deficiency judgment
(a) In general
(1) Referral to Attorney General
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.
(2) Other recoveries
In any action instituted pursuant to this section the United
States may recover -
(A) any amount authorized by section 3011 of title 28; and
(B) the costs of the action.
(b) Limitation
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.
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