[Code of Federal Regulations]

[Title 24, Volume 1]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR27.123]



[Page 303]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

PART 27_NONJUDICIAL FORECLOSURE OF MULTIFAMILY AND SINGLE FAMILY MORTGAGES

--Table of Contents

 

      Subpart B_Nonjudicial Foreclosure of Single Family Mortgages

 

Sec.  27.123  Deficiency judgment.



    If the price at which the security property is sold at the 

foreclosure sale is less than the unpaid balance of the debt secured by 

such property after disposition of sale proceeds in accordance with the 

order of priority provided under the Statute, the Secretary may refer 

the matter to the Attorney General who may commence an action or actions 

against any and all debtors to recover the deficiency, unless such an 

action is specifically prohibited by the mortgage.