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Current as of January 01, 2024 | Updated by Findlaw Staff
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.
Cite this article: FindLaw.com - 12 U.S.C. § 3761 - U.S. Code - Unannotated Title 12. Banks and Banking § 3761. Foreclosure costs - last updated January 01, 2024 | https://codes.findlaw.com/us/title-12-banks-and-banking/12-usc-sect-3761/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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