38 CFR 36.4513 - Foreclosure and liquidation.

§ 36.4513 Foreclosure and liquidation.
In the event of a foreclosure sale or other liquidation of the security for a loan, the Department of Veterans Affairs shall credit upon the indebtedness the greater of:
(a) The net proceeds of the sale, or
(b) The current market value of the property as determined by the Department of Veterans Affairs, less the costs and expenses of liquidation.
In no event shall the credit pursuant to paragraph (b) of this section exceed the amount of the gross indebtedness, nor shall such credit be less than the amount legally required to be credited to the indebtedness under local law. If a deed in lieu of foreclosure is accepted, the consideration will be a full and complete release of liability of the obligors, or such lesser amount as may be agreed upon between the obligors and the Department of Veterans Affairs.
[23 FR 2340, Apr. 10, 1958]

Title 38 published on 2014-07-01

no entries appear in the Federal Register after this date.

Title 38 published on 2014-07-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 38 CFR 36 after this date.

  • 2014-09-08; vol. 79 # 173 - Monday, September 8, 2014
    1. 79 FR 53146 - Loan Guaranty—Specially Adapted Housing Assistive Technology Grant Program
      GPO FDSys XML | Text
      DEPARTMENT OF VETERANS AFFAIRS
      Proposed rule.
      Comments must be received by VA on or before November 7, 2014.
      38 CFR Part 36