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38 U.S.C. · Veterans' Benefits
38 U.S.C. § 2053

Default

Ch. 20 — BENEFITS FOR HOMELESS VETERANS
Title 38 U.S.C. ● ACTIVE Primary Source Ch. 20
Statutory Text

38 U.S.C. § 2053 — Default

U.S.C. Title 38 - VETERANS' BENEFITS 38 U.S.C. United States Code, 2023 Edition Title 38 - VETERANS' BENEFITS PART II - GENERAL BENEFITS CHAPTER 20 - BENEFITS FOR HOMELESS VETERANS SUBCHAPTER VI - LOAN GUARANTEE FOR MULTIFAMILY TRANSITIONAL HOUSING Sec. 2053 - Default From the U.S. Government Publishing Office, www.gpo.gov

§2053. Default

(a) The Secretary shall take such steps as may be necessary to obtain repayment on any loan that is in default and that is guaranteed under this subchapter. (b) Upon default of a loan guaranteed under this subchapter and terminated pursuant to State law, a lender may file a claim under the guarantee for an amount not to exceed the lesser of— (1) the maximum guarantee; or (2) the difference between— (A) the total outstanding obligation on the loan, including principal, interest, and expenses authorized by the loan documents, through the date of the public sale (as authorized under such documents and State law); and (B) the amount realized at such sale.

(Added Pub. L. 105–368, title VI, §601(a), Nov. 11, 1998, 112 Stat. 3344, §3774; renumbered §2053, Pub. L. 107–95, §5(d)(1), Dec. 21, 2001, 115 Stat. 918.)

Editorial Notes

Amendments 2001—Pub. L. 107–95 renumbered section 3774 of this title as this section.

Statutory Notes and Related Subsidiaries

Effective Date Section effective Oct. 1, 1998, see section 602(f) of Pub. L. 105–368, set out as an Effective Date of 1998 Amendment note under section 2106 of this title.

Source: uscode.house.gov — public domain Official Source ↗
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38 U.S.C. § 2053
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The statutory text of 38 U.S.C. § 2053 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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Ch. 20 — BENEFITS FOR HOMELESS VETERANS
38 U.S.C. § 200138 U.S.C. § 200238 U.S.C. § 200338 U.S.C. § 201138 U.S.C. § 201238 U.S.C. § 201338 U.S.C. § 201438 U.S.C. § 201538 U.S.C. § 201638 U.S.C. § 202138 U.S.C. § 2021A38 U.S.C. § 202238 U.S.C. § 2022A38 U.S.C. § 202338 U.S.C. § 203138 U.S.C. § 203238 U.S.C. § 203338 U.S.C. § 203438 U.S.C. § 204138 U.S.C. § 204238 U.S.C. § 204338 U.S.C. § 204438 U.S.C. § 205138 U.S.C. § 205238 U.S.C. § 205338 U.S.C. § 205438 U.S.C. § 206138 U.S.C. § 206238 U.S.C. § 206338 U.S.C. § 2064
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