§ 3732. Procedure on default

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1958

   Pub. L. 85–857 · 72 Stat. 1105

   Enacted · 38 U.S.C. § 3732

   Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1212, § 1816(a)–(c)

   Source evidence

   Code source credit
   Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1212, § 1816(a)–(c)

2. 1965

   Housing and Urban Development Act of 1965

   Pub. L. 89–117 title I § 107(f) · 79 Stat. 451

   1. Amended · 38 U.S.C. § 3732

      Pub. L. 89–117 designated existing provisions as subsec. (a)

   2. Added · 38 U.S.C. § 3732

      Pub. L. 89–117 added subsec. (b)

   Source evidence

   Code amendment note
   Pub. L. 89–117 designated existing provisions as subsec. (a) and added subsec. (b).

   Enacted provision · exact public law section
   (f) Section 1816 of title 38, United States Code, is amended by inserting “(a)” before the text of such section, and by adding at the end thereof a new subsection as follows: “(b) With respect, to any loan made under section 1811 which has not been sold as provided in subsection (g) of such section, if the Administrator finds, after there has been a default in the payment of any installment of principal or interest owing on such loan, that the default was due to the fact that the veteran who is obligated under the loan has become unemployed as the result of the closing (in whole or in part) of a Federal installation, he shall (1) extend the time for curing the default to such time as he determines is necessary and desirable to enable such veteran to complete payments on such loan, including an extension of time beyond the stated maturity thereof, or (2) modify the terms of such loan for the purpose of changing the amortization provisions thereof by recasting, over the remaining term of the loan, or over such longer period as he may determine? the total unpaid amount then due with the modification to become effective currently or upon the termination of an agreed-upon extension of the period for curing the default.”

3. 1976

   Veterans Housing Amendments Act of 1976

   Pub. L. 94–324 § 7(17) · 90 Stat. 720

   Substituted · 38 U.S.C. § 3732(a)

   Pub. L. 94–324 substituted “the Administrator’s” for “his”

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 94–324 substituted “the Administrator’s” for “his”.

   Enacted provision · exact public law section
   (17) by striking out in subsections (a) and (b) of section 1816 “his” and “he” wherever they appear and inserting in lieu thereof “the Administrator’s” and “the Administrator”, respectively;

4. 1976

   Veterans Housing Amendments Act of 1976

   Pub. L. 94–324 § 7(17) · 90 Stat. 720

   Substituted · 38 U.S.C. § 3732(b)

   Pub. L. 94–324 substituted “the Administrator” for “he” wherever appearing

   Source evidence

   Code amendment note
   Subsec. (b). Pub. L. 94–324 substituted “the Administrator” for “he” wherever appearing.

   Enacted provision · exact public law section
   (17) by striking out in subsections (a) and (b) of section 1816 “his” and “he” wherever they appear and inserting in lieu thereof “the Administrator’s” and “the Administrator”, respectively;

5. 1984

   Spending Reduction Act of 1984

   Pub. L. 98–369 § 2512(a)(1)(A) · 98 Stat. 494

   1. Amended · 38 U.S.C. § 3732(a)(1)

      Pub. L. 98–369, § 2512(a)(1)(A)–(C), designated existing first sentence as par. (1)

   2. Substituted · 38 U.S.C. § 3732(a)(1)

      Pub. L. 98–369, § 2512(a)(1)(A)–(C), substituted “Administrator of such default. Upon receipt of such notice, the Administrator may, subject to subsection (c) of this section,” for “Administrator who shall thereupon”

   3. Substituted · 38 U.S.C. § 3732(a)(1)

      Pub. L. 98–369, § 2512(a)(1)(A)–(C), substituted “guaranteed. If the Administrator makes a payment, the Administrator shall” for “guaranteed, and shall”

   Source evidence

   Code amendment note
   Subsec. (a)(1). Pub. L. 98–369, § 2512(a)(1)(A)–(C), designated existing first sentence as par. (1), substituted “Administrator of such default. Upon receipt of such notice, the Administrator may, subject to subsection (c) of this section,” for “Administrator who shall thereupon”, and substituted “guaranteed. If the Administrator makes a payment, the Administrator shall” for “guaranteed, and shall”.

   Enacted provision · exact public law section
   (A) by designating the first sentence as paragraph (1), the second and third sentences as paragraph (2), and the fourth sentence as paragraph (3);

6. 1984

   Spending Reduction Act of 1984

   Pub. L. 98–369 § 2512(a)(1)(A) · 98 Stat. 494

   Amended · 38 U.S.C. § 3732(a)(2)

   Pub. L. 98–369, § 2512(a)(1)(A), designated existing second and third sentences as par. (2)

   Source evidence

   Code amendment note
   Subsec. (a)(2). Pub. L. 98–369, § 2512(a)(1)(A), designated existing second and third sentences as par. (2).

   Enacted provision · exact public law section
   (A) by designating the first sentence as paragraph (1), the second and third sentences as paragraph (2), and the fourth sentence as paragraph (3);

7. 1984

   Spending Reduction Act of 1984

   Pub. L. 98–369 § 2512(a)(1)(A) · 98 Stat. 494

   Amended · 38 U.S.C. § 3732(a)(3)

   Pub. L. 98–369, § 2512(a)(1)(A), designated existing fourth sentence as par. (3)

   Source evidence

   Code amendment note
   Subsec. (a)(3). Pub. L. 98–369, § 2512(a)(1)(A), designated existing fourth sentence as par. (3).

   Enacted provision · exact public law section
   (A) by designating the first sentence as paragraph (1), the second and third sentences as paragraph (2), and the fourth sentence as paragraph (3);

8. 1984

   Spending Reduction Act of 1984

   Pub. L. 98–369 § 2512(a)(2) · 98 Stat. 494

   Added · 38 U.S.C. § 3732(c)

   Pub. L. 98–369, § 2512(a)(2), added subsec. (c)

   Source evidence

   Code amendment note
   Subsec. (c). Pub. L. 98–369, § 2512(a)(2), added subsec. (c).

   Enacted provision · exact public law section
   (2) by adding at the end the following new subsections: “(c) (1) For purposes of this subsection— “(A) The term ‘defaulted loan’ means a loan that is guaranteed under this chapter, that was made for a purpose described in section 1810(a) of this title, and that is in default. “(B) The term ‘liquidation sale’ means a judicial sale or other disposition of real property to liquidate a defaulted loan that is secured by such property. “(C) The term ‘net value’, with respect to real property, means the amount equal to (i) the fair market value of the property, minus (ii) the total of the amounts which the Administrator estimates the Administrator would incur (if the Administrator were to acquire and dispose of the property) for property taxes, assessments, liens, property maintenance, property improvement, administration, resale, and other costs resulting from the acquisition and disposition of the property. “(D) The term ‘total indebtedness’, with respect to a defaulted loan, means the amount equal to the total of (i) the unpaid principal of the loan, (ii) the interest on the loan as of the date of the liquidation sale of the property securing the loan (or such earlier date following the expiration of a reasonable period of time for such sale to occur as the Administrator may specify pursuant to regulations prescribed by the Administrator to implement this subsection), and (iii) such reasonably necessary and proper charges (as specified in the loan instrument and permitted by such regulations) associated with liquidation of the loan, including advances for taxes, insurance, and maintenance or repair of the real property securing the loan. “(2) (A) Except as provided in subparagraph (B) of this paragraph, this subsection applies to any case in which the holder of a defaulted loan undertakes to liquidate the loan by means of a liquidation sale. “(B) This subsection does not apply to a case in which the Administrator proceeds under subsection (a)(2) of this section. “(3) (A) Before carrying out a liquidation sale of real property securing a defaulted loan, the holder of the loan shall notify the Administrator of the proposed sale. Such notice shall be provided in accordance with regulations prescribed by the Administrator to implement this subsection. “(B) After receiving a notice described in subparagraph (A) of this paragraph, the Administrator shall determine the net value of the property securing the loan and the amount of the total indebtedness under the loan and shall notify the holder of the loan of the determination of such net value. “(4) A case referred to in paragraphs (5), (6), and (7) of this subsection as being described in this paragraph is a case in which the net value of the property securing a defaulted loan exceeds the amount of the total indebtedness under the loan minus the amount guaranteed under this chapter. “(5) In a case described in paragraph (4) of this subsection, if the holder of the defaulted loan acquires the property securing the loan at a liquidation sale for an amount that does not exceed the lesser of the net value of the property or the total indebtedness under the loan— “(A) the holder shall have the option to convey the property to the United States in return for payment by the Administrator of an amount equal to the lesser of such net value or total indebtedness; and “(B) the liability of the United States under the loan guaranty under this chapter shall be limited to the amount of such total indebtedness minus the net value of the property. “(6) In a case described in paragraph (4) of this subsection, if the holder of the defaulted loan either does not acquire the property securing the loan at the liquidation sale or acquires the property at such sale for an amount that exceeds the lesser of the net value of the property or the total indebtedness under the loan— “(A) the Administrator may not accept conveyance of the property except as provided in paragraph (7) of this subsection; and “(B) the liability of the United States under the loan guaranty under this chapter shall be limited to the amount equal to (i) the amount of such total indebtedness, minus (ii) the amount realized by the holder incident to the sale or the net value of the property, whichever is greater. “(7) In a case described in paragraph (4) of this subsection, if the holder of the defaulted loan acquires the property securing the loan at the liquidation sale for an amount that exceeds the lesser of the total indebtedness under the loan or the net value and that was the minimum amount for which, under applicable State law, the property was permitted to be sold at the liquidation sale— “(A) the Administrator may accept conveyance of the property to the United States for a price not exceeding the lesser of the amount for which the holder acquired the property or the total indebtedness under the loan; and “(B) the liability of the United States under the loan guaranty under this chapter is as provided in paragraph (6)(B) of this subsection. “(8) If the net value of the property securing a defaulted loan is not greater than the amount of the total indebtedness under the loan minus the amount guaranteed under this chapter— “(A) the Administrator may not accept conveyance of the property from the holder of the loan; and “(B) the liability of the United States under the loan guaranty shall be limited to the amount of the total indebtedness under the loan minus the amount realized by the holder of the loan incident to the sale at a liquidation sale of the property. “(9) In no event may the liability of the United States under a guaranteed loan exceed the amount guaranteed with respect to that loan under section 1803(b) of this title. All determinations under this 38 USC 1803. subsection of net value and total indebtedness shall be made by the Administrator. “(d) (1) Of the number of purchases made during any fiscal year of real property acquired by the Administrator as the result of a default on a loan guaranteed under this chapter for a purpose described in section 1810(a) of this title, not more than 75 percent, nor less than 60 percent, of such purchases may be financed by a loan made by the Administrator. The maximum percentage stated in the preceding sentence may be increased to 80 percent for any fiscal year if the Administrator determines that such an increase is necessary in order to maintain the effective functioning of the loan guaranty program. “(2) In carrying out paragraph (1) of this subsection, the Administrator, to the maximum extent consistent with that paragraph and with maintaining the effective functioning of the loan guaranty program under this chapter, shall minimize the number of loans made by the Administrator to finance purchases of real property from the Administrator described in that paragraph. “(3) Notes securing such loans may be sold with recourse only to the extent that the Administrator determines that selling such notes with recourse is necessary in order to maintain the effective functioning of the loan guaranty program under this chapter.”.

9. 1987

   Veterans’ Home Loan Program Improvements and Property Rehabilitation Act of 1987

   Pub. L. 100–198 § 4(a) · 101 Stat. 1315

   Added · 38 U.S.C. § 3732(a)(4)

   Pub. L. 100–198, § 4(a), added par. (4)

   Source evidence

   Code amendment note
   Subsec. (a)(4). Pub. L. 100–198, § 4(a), added par. (4).

   Enacted provision · exact public law section
   (a) Assistance to Veterans.— Section 1816(a) is amended by adding at the end the following new paragraph: “(4) (A) Upon receiving a notice pursuant to paragraph (1) of this subsection, the Administrator shall— “(i) provide the veteran with information and, to the extent feasible, counseling regarding— “(I) alternatives to foreclosure, as appropriate in light of the veteran’s particular circumstances, including possible methods of curing the default, conveyance of the property to the Administrator by means of a deed in lieu of foreclosure, and the actions authorized by section 1816(a)(2) of this title; and “(II) what the Veterans’ Administration’s and the veteran’s liabilities would be with respect to the loan in the event of foreclosure; and “(ii) advise the veteran regarding the availability of such counseling; except with respect to loans made by a lender which the Administrator has determined has a demonstrated record of consistently providing timely and accurate information to veterans with respect to such matters. “(B) The Administrator shall, to the extent of the availability of appropriations, ensure that sufficient personnel are available to administer subparagraph (A) of this paragraph effectively and efficiently. “(C) The authority to carry out this paragraph shall terminate on Termination date. March 1, 1991.”.

10. 1987

    Veterans’ Home Loan Program Improvements and Property Rehabilitation Act of 1987

    Pub. L. 100–198 § 5(a)(1) · 101 Stat. 1315

    1. Substituted · 38 U.S.C. § 3732(c)(1)(D)

       Pub. L. 100–198, § 5(a)(1)–(3), substituted “Except as provided in subparagraph (D) of paragraph (10) of this subsection, the” for “The” in cl. (iii)

    2. Substituted · 38 U.S.C. § 3732(c)(1)(D)

       Pub. L. 100–198, § 5(a)(1)–(3), substituted “applicable under paragraph (10) of this subsection, and” for “of the liquidation sale of the property securing the loan (or such earlier date following the expiration of a reasonable period of time for such sale to occur as the Administrator may specify pursuant to regulations prescribed by the Administrator to implement this subsection), and” in cl. (iii)

    3. Substituted · 38 U.S.C. § 3732(c)(1)(D)

       Pub. L. 100–198, § 5(a)(1)–(3), substituted “regulations prescribed by the Administrator to implement this subsection” for “such regulations” in cl. (iii)

    Source evidence

    Code amendment note
    Subsec. (c)(1)(D). Pub. L. 100–198, § 5(a)(1)–(3), substituted “Except as provided in subparagraph (D) of paragraph (10) of this subsection, the” for “The” at beginning, “applicable under paragraph (10) of this subsection, and” for “of the liquidation sale of the property securing the loan (or such earlier date following the expiration of a reasonable period of time for such sale to occur as the Administrator may specify pursuant to regulations prescribed by the Administrator to implement this subsection), and” in cl. (ii), and “regulations prescribed by the Administrator to implement this subsection” for “such regulations” in cl. (iii).

    Enacted provision · exact public law section
    (1) in paragraph (1)(D), by striking out “The” and inserting in lieu thereof “Except as provided in subparagraph (D) of paragraph (10) of this subsection, the”;

11. 1987

    Veterans’ Home Loan Program Improvements and Property Rehabilitation Act of 1987

    Pub. L. 100–198 § 5(a)(4) · 101 Stat. 1315

    Added · 38 U.S.C. § 3732(c)(10); 38 U.S.C. § 3732(c)(11)

    Pub. L. 100–198, § 5(a)(4), added pars. (10) and (11)

    Source evidence

    Code amendment note
    Subsec. (c)(10), (11). Pub. L. 100–198, § 5(a)(4), added pars. (10) and (11).

    Enacted provision · exact public law section
    (4) by adding at the end the following new paragraphs: “(10) (A) Except as provided in subparagraphs (B) and (C) of this paragraph, the date referred to in paragraph (1)(D)(ii) of this subsection shall be the date of the liquidation sale of the property securing the loan. “(B) (i) Subject to division (ii) of this subparagraph, in any case in Regulations. which there is a substantial delay in such sale caused by the holder of the loan exercising forebearance at the request of the Administrator, the date referred to in paragraph (1)(D)(ii) of this subsection shall be such date, on or after the date on which forebearance was requested and prior to the date of such sale, as the Administrator specifies pursuant to regulations which the Administrator shall prescribe to implement this paragraph. “(ii) The Administrator may specify a date under subdivision (i) of this subparagraph only if, based on the use of a date so specified for the purposes of such paragraph (1)(D)(ii), the Administrator is authorized, under paragraph (7)(A) of this subsection, to accept conveyance of the property. “(C) In any case in which there is an excessive delay in such liquidation sale caused— “(i) by the Veterans’ Administration (including any delay caused by its failure to provide bidding instructions in a timely fashion); or “(ii) by a voluntary case commenced under title 11, United States Code (relating to bankruptcy); the date referred to in paragraph (1)(D)(ii) of this subsection shall be a date, earlier than the date of such liquidation sale, which the Administrator specifies pursuant to regulations which the Administrator shall prescribe to implement this paragraph. “(D) For the purpose of determining the liability of the United States under a loan guaranty under clause (B) of paragraphs (5), (6), (7), and (8) of this subsection, the amount of the total indebtedness with respect to such loan guaranty shall include, in any case in which there was an excessive delay caused by the Veterans’ Administration in the liquidation sale of the property securing such loan, any interest which had accrued as of the date of such sale and which would not be included, except for this subparagraph, in the calculation of such total indebtedness as a result of the specification of an earlier date under subparagraph (C)(i) of this paragraph. “(11) This subsection shall cease to have effect on October 1, 1989.”.

12. 1988

    Veterans

    Pub. L. 100–322 § 415(b)(1)(C) · 102 Stat. 487

    1. Redesignated · 38 U.S.C. § 3732

       Pub. L. 100–322, § 415(b)(1)(C), (5)(A), redesignated section catchline of section 1816 of this title as section catchline of this section

    2. Struck · 38 U.S.C. § 3732

       Pub. L. 100–322, § 415(b)(1)(C), (5)(A), struck out former catchline which read as follows: “Furnishing information to real estate professionals to facilitate the disposition of properties”

    Source evidence

    Code amendment note
    Pub. L. 100–322, § 415(b)(1)(C), (5)(A), redesignated section catchline of section 1816 of this title as section catchline of this section and struck out former catchline which read as follows: “Furnishing information to real estate professionals to facilitate the disposition of properties”.

    Enacted provision · exact public law section
    (C) The heading and subsections (a), (b), and (c) of section 1816, as amended by subparagraphs (A) and (B) of this paragraph, are redesignated as a new section 1832 and transferred to subchapter III of chapter 37 so that they will appear following section 1831.

13. 1988

    Veterans

    Pub. L. 100–322 § 415(b)(1)(A) · 102 Stat. 487

    Redesignated · 38 U.S.C. § 3732(a)

    Pub. L. 100–322, § 415(b)(1)(A), (C), redesignated subsec. (a) of section 1816 of this title as subsec. (a) of this section, and in par. (4)(A)(i)(I) substituted “paragraph (2) of this subsection” for “section 1816(a)(2) of this title”

    Source evidence

    Code amendment note
    Subsec. (a). Pub. L. 100–322, § 415(b)(1)(A), (C), redesignated subsec. (a) of section 1816 of this title as subsec. (a) of this section, and in par. (4)(A)(i)(I) substituted “paragraph (2) of this subsection” for “section 1816(a)(2) of this title”.

    Enacted provision · exact public law section
    (A) Section 1816(a)(4)(A)(i)(I) is amended by striking out “section 1816(a)(2) of this title” and inserting in lieu thereof “paragraph (2) of this subsection”.

14. 1988

    Veterans

    Pub. L. 100–322 § 415(b)(1)(C) · 102 Stat. 487

    Redesignated · 38 U.S.C. § 3732(b)

    Pub. L. 100–322, § 415(b)(1)(C), redesignated subsec. (b) of section 1816 of this title as subsec. (b) of this section

    Source evidence

    Code amendment note
    Subsec. (b). Pub. L. 100–322, § 415(b)(1)(C), redesignated subsec. (b) of section 1816 of this title as subsec. (b) of this section.

    Enacted provision · exact public law section
    (C) The heading and subsections (a), (b), and (c) of section 1816, as amended by subparagraphs (A) and (B) of this paragraph, are redesignated as a new section 1832 and transferred to subchapter III of chapter 37 so that they will appear following section 1831.

15. 1988

    Veterans

    Pub. L. 100–322 § 415(b)(1)(B) · 102 Stat. 487

    Redesignated · 38 U.S.C. § 3732(c)

    Pub. L. 100–322, § 415(b)(1)(B), (C), redesignated subsec. (c) of section 1816 of this title as subsec. (c) of this section, in par. (10)(A) inserted “(or such earlier date following the expiration of a reasonable period of time for such sale to occur as the Administrator may specify pursuant to regulations prescribed by the Administrator to implement this subsection)” before period at end, and in par. (10)(B)(ii) inserted “(5)(A) or” after “under paragraph”

    Source evidence

    Code amendment note
    Subsec. (c). Pub. L. 100–322, § 415(b)(1)(B), (C), redesignated subsec. (c) of section 1816 of this title as subsec. (c) of this section, in par. (10)(A) inserted “(or such earlier date following the expiration of a reasonable period of time for such sale to occur as the Administrator may specify pursuant to regulations prescribed by the Administrator to implement this subsection)” before period at end, and in par. (10)(B)(ii) inserted “(5)(A) or” after “under paragraph”.

    Enacted provision · exact public law section
    (B) Section 1816(c)(10) is amended— (i) in subparagraph (A), by inserting “(or such earlier date following the expiration of a reasonable period of time for such sale to occur as the Administrator may specify pursuant to regulations prescribed by the Administrator to implement this subsection)” after “loan”; and (ii) in subparagraph (B)(ii), by inserting “(5)(A) or” after “under paragraph”.

16. 1989

    Veterans Home Loan Indemnity and Restructuring Act of 1989

    Pub. L. 101–237 § 313(b)(1) · 103 Stat. 2062

    Substituted · 38 U.S.C. § 3732(a)

    Pub. L. 101–237, § 313(b)(1), (2), substituted “Secretary”, “Secretary’s”, and “Department of Veterans Affairs’ ” for “Administrator”, “Administrator’s”, and “Veterans’ Administration’s”, respectively, wherever appearing

    Source evidence

    Code amendment note
    Subsec. (a). Pub. L. 101–237, § 313(b)(1), (2), substituted “Secretary”, “Secretary’s”, and “Department of Veterans Affairs’ ” for “Administrator”, “Administrator’s”, and “Veterans’ Administration’s”, respectively, wherever appearing.

    Enacted provision · exact public law section
    (1) Chapters 23, 24, and 37 are amended by striking out “Administrator” and “Administrator’s” each place such terms appear (other than in sections 906(e)(2) and 1812(h)(2)(B) and in section 1845(a) the third place “Administrator” appears) and inserting in lieu thereof “Secretary” and “Secretary’s”, respectively.

17. 1989

    Veterans Home Loan Indemnity and Restructuring Act of 1989

    Pub. L. 101–237 § 304(b) · 103 Stat. 2062

    Substituted · 38 U.S.C. § 3732(a)

    Pub. L. 101–237, § 304(b), substituted “Except as provided in section 1803(e) of this title, if” for “If” in last sentence of par. (1)

    Target inherited from the preceding amendment note.

    Source evidence

    Code amendment note
    Pub. L. 101–237, § 304(b), substituted “Except as provided in section 1803(e) of this title, if” for “If” in last sentence of par. (1).

    Enacted provision · exact public law section
    (b) Conforming Amendment.— The last sentence of section 1832(a)(1) is amended by striking out “If” and inserting in lieu thereof “Except as provided in section 1803(e) of this title, if”.

18. 1989

    Veterans Home Loan Indemnity and Restructuring Act of 1989

    Pub. L. 101–237 § 307 · 103 Stat. 2062

    Added · 38 U.S.C. § 3732(a)(5)

    Pub. L. 101–237, § 307, added par. (5)

    Source evidence

    Code amendment note
    Subsec. (a)(5). Pub. L. 101–237, § 307, added par. (5).

    Enacted provision · exact public law section
    SEC. 307. NOTIFICATION REQUIREMENT. Section 1832(a) is amended by adding at the end the following: (5) In the event of default in the payment of any loan guaranteed or insured under this chapter in which a partial payment has been tendered by the veteran concerned and refused by the holder, the holder of the obligation shall notify the Secretary as soon as such payment has been refused. The Secretary may require that any such notification include a statement of the circumstances of the default, the amount tendered, the amount of the indebtedness on the date of the tender, and the reasons for the holder’s refusal.”.

19. 1989

    Veterans Home Loan Indemnity and Restructuring Act of 1989

    Pub. L. 101–237 § 313(b)(1) · 103 Stat. 2062

    Substituted · 38 U.S.C. § 3732(b); 38 U.S.C. § 3732(c)

    Pub. L. 101–237, § 313(b)(1), (2), substituted “Secretary” and “Department of Veterans Affairs” for “Administrator” and “Veterans’ Administration”, respectively, wherever appearing

    Source evidence

    Code amendment note
    Subsecs. (b), (c). Pub. L. 101–237, § 313(b)(1), (2), substituted “Secretary” and “Department of Veterans Affairs” for “Administrator” and “Veterans’ Administration”, respectively, wherever appearing.

    Enacted provision · exact public law section
    (1) Chapters 23, 24, and 37 are amended by striking out “Administrator” and “Administrator’s” each place such terms appear (other than in sections 906(e)(2) and 1812(h)(2)(B) and in section 1845(a) the third place “Administrator” appears) and inserting in lieu thereof “Secretary” and “Secretary’s”, respectively.

20. 1989

    Veterans Home Loan Indemnity and Restructuring Act of 1989

    Pub. L. 101–237 § 308(a) · 103 Stat. 2062

    Inserted · 38 U.S.C. § 3732(c)(1)(C)(ii)

    Pub. L. 101–237, § 308(a), inserted “, excluding any amount attributed to the cost to the Government of borrowing funds” before period at end

    Source evidence

    Code amendment note
    Subsec. (c)(1)(C)(ii). Pub. L. 101–237, § 308(a), inserted “, excluding any amount attributed to the cost to the Government of borrowing funds” before period at end.

    Enacted provision · exact public law section
    (a) Exclusion of Interest Costs.— Section 1832(c)(1)(C)(ii) is amended by inserting before the period the following: excluding any amount attributed to the cost to the Government of borrowing funds”.

21. 1989

    Veterans Home Loan Indemnity and Restructuring Act of 1989

    Pub. L. 101–237 § 308(b)(1) · 103 Stat. 2062

    Substituted · 38 U.S.C. § 3732(c)(11)

    Pub. L. 101–237, § 308(b)(1), substituted “October 1, 1991” for “October 1, 1989”

    Source evidence

    Code amendment note
    Subsec. (c)(11). Pub. L. 101–237, § 308(b)(1), substituted “October 1, 1991” for “October 1, 1989”.

    Enacted provision · exact public law section
    (1) Section 1832(c)(11) of such title is amended by striking out “October 1, 1989” and inserting in lieu thereof “October 1, 1991”.

22. 1991

    Pub. L. 102–54 § 1 · 105 Stat. 267

    Struck · 38 U.S.C. § 3732(a)(4)(C)

    Pub. L. 102–54, § 1, struck out subpar. (C) which read as follows: “The authority to carry out this paragraph shall terminate on March 1, 1991.”

    Source evidence

    Code amendment note
    Subsec. (a)(4)(C). Pub. L. 102–54, § 1, struck out subpar. (C) which read as follows: “The authority to carry out this paragraph shall terminate on March 1, 1991.”

    Enacted provision · exact public law section
    SECTION 1. NOTIFICATION REQUIREMENT. Section 1832(a)(4) of title 38, United States Code, is amended by striking out subparagraph (C).

23. 1991

    Pub. L. 102–54 § 3(a) · 105 Stat. 267

    Substituted · 38 U.S.C. § 3732(c)(11)

    Pub. L. 102–54, § 3(a), substituted “December 31, 1992” for “October 1, 1991”

    Source evidence

    Code amendment note
    Subsec. (c)(11). Pub. L. 102–54, § 3(a), substituted “December 31, 1992” for “October 1, 1991”.

    Enacted provision · exact public law section
    (a) Default Procedures.— Section 1832(c)(11) of title 38, United States Code, is amended by striking out “October 1, 1991” and inserting in lieu thereof “December 31, 1992”.

24. 1991

    Pub. L. 102–83 § 5(a) · 105 Stat. 378

    Changed · 38 U.S.C. § 3732

    Pub. L. 102–83, § 5(a), renumbered section 1832 of this title as this section

    Source evidence

    Code amendment note
    Pub. L. 102–83, § 5(a), renumbered section 1832 of this title as this section.

    Enacted provision · exact public law section
    (a) Redesignation of Sections to Conform to Chapter Numbers.— Each section contained in any of chapters 11 through 23 is redesignated by replacing the first digit of the section number with the number of the chapter containing that section. Each section contained in any of chapters 24 through 42 is redesignated so that the first two digits of the section number of that section are the same as the chapter number of the chapter containing that section.

25. 1991

    Pub. L. 102–83 § 5(c)(1) · 105 Stat. 378

    Substituted · 38 U.S.C. § 3732(a)(1)

    Pub. L. 102–83, § 5(c)(1), substituted “3703(e)” for “1803(e)”

    Source evidence

    Code amendment note
    Subsec. (a)(1). Pub. L. 102–83, § 5(c)(1), substituted “3703(e)” for “1803(e)”.

    Enacted provision · exact public law section
    (1) Each provision of title 38, United States Code, that contains a reference to a section redesignated by subsection (a) is amended so that the reference refers to the section as redesignated.

26. 1991

    Pub. L. 102–83 § 5(c)(1) · 105 Stat. 378

    Substituted · 38 U.S.C. § 3732(b)

    Pub. L. 102–83, § 5(c)(1), substituted “3711” for “1811”

    Source evidence

    Code amendment note
    Subsec. (b). Pub. L. 102–83, § 5(c)(1), substituted “3711” for “1811”.

    Enacted provision · exact public law section
    (1) Each provision of title 38, United States Code, that contains a reference to a section redesignated by subsection (a) is amended so that the reference refers to the section as redesignated.

27. 1991

    Pub. L. 102–83 § 5(c)(1) · 105 Stat. 378

    Substituted · 38 U.S.C. § 3732(c)(1)(A)

    Pub. L. 102–83, § 5(c)(1), substituted “3710(a)” for “1810(a)”

    Source evidence

    Code amendment note
    Subsec. (c)(1)(A). Pub. L. 102–83, § 5(c)(1), substituted “3710(a)” for “1810(a)”.

    Enacted provision · exact public law section
    (1) Each provision of title 38, United States Code, that contains a reference to a section redesignated by subsection (a) is amended so that the reference refers to the section as redesignated.

28. 1991

    Pub. L. 102–83 § 5(c)(1) · 105 Stat. 378

    Substituted · 38 U.S.C. § 3732(c)(9)

    Pub. L. 102–83, § 5(c)(1), substituted “3703(b)” for “1803(b)”

    Source evidence

    Code amendment note
    Subsec. (c)(9). Pub. L. 102–83, § 5(c)(1), substituted “3703(b)” for “1803(b)”.

    Enacted provision · exact public law section
    (1) Each provision of title 38, United States Code, that contains a reference to a section redesignated by subsection (a) is amended so that the reference refers to the section as redesignated.

29. 1993

    Omnibus Budget Reconciliation Act of 1993

    Pub. L. 103–66 § 12006(a)(1) · 107 Stat. 312

    Inserted · 38 U.S.C. § 3732(c)(1)(C)

    Pub. L. 103–66, § 12006(a)(1), inserted “(including losses sustained on the resale of the property)” after “resale”

    Source evidence

    Code amendment note
    Subsec. (c)(1)(C). Pub. L. 103–66, § 12006(a)(1), inserted “(including losses sustained on the resale of the property)” after “resale”.

30. 1993

    Omnibus Budget Reconciliation Act of 1993

    Pub. L. 103–66 § 12006(a)(2) · 107 Stat. 312

    Substituted · 38 U.S.C. § 3732(c)(11)

    Pub. L. 103–66, § 12006(a)(2), substituted “shall apply to loans closed before October 1, 1998” for “shall cease to have effect on December 31, 1992”

    Source evidence

    Code amendment note
    Subsec. (c)(11). Pub. L. 103–66, § 12006(a)(2), substituted “shall apply to loans closed before October 1, 1998” for “shall cease to have effect on December 31, 1992”.

31. 1994

    Veterans’ Benefits Improvements Act of 1994

    Pub. L. 103–446 § 907(b) · 108 Stat. 4645

    1. Struck · 38 U.S.C. § 3732(c)(6)

       Pub. L. 103–446, § 907(b), struck out “either” after “defaulted loan”

    2. Substituted · 38 U.S.C. § 3732(c)(6)

       Pub. L. 103–446, § 907(b), substituted “sale,” for “sale or acquires the property at such sale for an amount that exceeds the lesser of the net value of the property or the total indebtedness under the loan—”

    3. Struck · 38 U.S.C. § 3732(c)(6)

       Pub. L. 103–446, § 907(b), struck out text of subpar. (A) and subpar. (B) designation before “the liability”

    4. Redesignated · 38 U.S.C. § 3732(c)(6)

       Pub. L. 103–446, § 907(b), redesignated cls. (i) and (ii) as cls. (A) and (B), respectively. Prior to amendment, subpar. (A) read as follows: “the Secretary may not accept conveyance of the property except as provided in paragraph (7) of this subsection; and”

    Source evidence

    Code amendment note
    Subsec. (c)(6). Pub. L. 103–446, § 907(b), struck out “either” after “defaulted loan”, substituted “sale,” for “sale or acquires the property at such sale for an amount that exceeds the lesser of the net value of the property or the total indebtedness under the loan—”, struck out text of subpar. (A) and subpar. (B) designation before “the liability”, and redesignated cls. (i) and (ii) as cls. (A) and (B), respectively. Prior to amendment, subpar. (A) read as follows: “the Secretary may not accept conveyance of the property except as provided in paragraph (7) of this subsection; and”.

    Enacted provision · exact public law section
    (b) Conforming Amendment.— Paragraph (6) of such section is amended— (1) by striking out “either”; (2) by striking out “sale or acquires” and all that follows through “(B) the” and inserting in lieu thereof “sale, the”; and (3) by redesignating clauses (i) and (ii) as clauses (A) and (B), respectively.

32. 1994

    Veterans’ Benefits Improvements Act of 1994

    Pub. L. 103–446 § 907(a)(1) · 108 Stat. 4645

    Struck · 38 U.S.C. § 3732(c)(7)

    Pub. L. 103–446, § 907(a)(1), struck out “that was the minimum amount for which, under applicable State law, the property was permitted to be sold at the liquidation sale—” after “net value and” in introductory provisions

    Source evidence

    Code amendment note
    Subsec. (c)(7). Pub. L. 103–446, § 907(a)(1), struck out “that was the minimum amount for which, under applicable State law, the property was permitted to be sold at the liquidation sale—” after “net value and” in introductory provisions.

    Enacted provision · exact public law section
    (1) in the matter preceding subparagraph (A), by striking out “that was the minimum amount for which, under applicable State law, the property was permitted to be sold at the liquidation sale”;

33. 1994

    Veterans’ Benefits Improvements Act of 1994

    Pub. L. 103–446 § 907(a)(2) · 108 Stat. 4645

    1. Substituted · 38 U.S.C. § 3732(c)(7)(A)

       Pub. L. 103–446, § 907(a)(2), substituted “(i) the amount was the minimum amount for which, under applicable State law, the property was permitted to be sold at the liquidation sale, the holder shall have the option to convey the property to the United States in return for payment by the Secretary of an amount equal to” for “the Secretary may accept conveyance of the property to the United States for a price not exceeding”

    2. Substituted · 38 U.S.C. § 3732(c)(7)(A)

       Pub. L. 103–446, § 907(a)(2), substituted “loan; or” for “loan; and”

    3. Added · 38 U.S.C. § 3732(c)(7)(A)

       Pub. L. 103–446, § 907(a)(2), added cl. (ii)

    Source evidence

    Code amendment note
    Subsec. (c)(7)(A). Pub. L. 103–446, § 907(a)(2), substituted “(i) the amount was the minimum amount for which, under applicable State law, the property was permitted to be sold at the liquidation sale, the holder shall have the option to convey the property to the United States in return for payment by the Secretary of an amount equal to” for “the Secretary may accept conveyance of the property to the United States for a price not exceeding” and “loan; or” for “loan; and” and added cl. (ii).

    Enacted provision · exact public law section
    (2) in subparagraph (A)— (A) by striking out “the Secretary may accept conveyance of the property to the United States for a price not exceeding” and inserting in lieu thereof “(i) the amount was the minimum amount for which, under applicable State law, the property was permitted to be sold at the liquidation sale, the holder shall have the option to convey the property to the United States in return for payment by the Secretary of an amount equal to”; and (B) by striking out “and” after “loan;” and inserting in lieu thereof “or”; (C) by adding at the end the following: “(ii) there was no minimum amount for which the property had to be sold at the liquidation sale under applicable State law, the holder shall have the option to convey the property to the United States in return for payment by the Secretary of an amount equal to the lesser of such net value or total indebtedness; ana”; and

34. 1994

    Veterans’ Benefits Improvements Act of 1994

    Pub. L. 103–446 § 907(a)(3) · 108 Stat. 4645

    Substituted · 38 U.S.C. § 3732(c)(7)(B)

    Pub. L. 103–446, § 907(a)(3), substituted “paragraph (6)” for “paragraph (6)(B)”

    Source evidence

    Code amendment note
    Subsec. (c)(7)(B). Pub. L. 103–446, § 907(a)(3), substituted “paragraph (6)” for “paragraph (6)(B)”.

    Enacted provision · exact public law section
    (3) in subparagraph (B), by striking out “paragraph (6)(B)” and inserting in lieu thereof “paragraph (6)”.

35. 1997

    Balanced Budget Act of 1997

    Pub. L. 105–33 title VIII § 8013 · 111 Stat. 251

    Substituted · 38 U.S.C. § 3732(c)(11)

    Pub. L. 105–33 substituted “October 1, 2002” for “October 1, 1998”

    Source evidence

    Code amendment note
    Subsec. (c)(11). Pub. L. 105–33 substituted “October 1, 2002” for “October 1, 1998”.

    Enacted provision · exact public law section
    SEC. 8013. PROCEDURES APPLICABLE TO LIQUIDATION SALES ON DEFAULTED HOME LOANS GUARANTEED BY THE DEPARTMENT OF VETERANS AFFAIRS. Section 3732(c)(11) of title 38, United States Code, is amended by striking out “October 1, 1998” and inserting in lieu thereof “October 1, 2002”.

36. 2000

    Veterans Benefits and Health Care Improvement Act of 2000

    Pub. L. 106–419 title IV § 402(c) · 114 Stat. 1822

    Substituted · 38 U.S.C. § 3732(c)(11)

    Pub. L. 106–419 substituted “October 1, 2008” for “October 1, 2002”

    Source evidence

    Code amendment note
    Subsec. (c)(11). Pub. L. 106–419 substituted “October 1, 2008” for “October 1, 2002”.

    Enacted provision · exact public law section
    (c) Procedures Applicable to Liquidation Sales on Defaulted Home Loans Guaranteed by the Department of Veterans Affairs.— Section 3732(c)(11) is amended by striking “October 1, 2002” and inserting “October 1, 2008”.

37. 2001

    Veterans Education and Benefits Expansion Act of 2001

    Pub. L. 107–103 title IV § 405(d) · 115 Stat. 976

    Substituted · 38 U.S.C. § 3732(c)(11)

    Pub. L. 107–103 substituted “October 1, 2011” for “October 1, 2008”

    Source evidence

    Code amendment note
    Subsec. (c)(11). Pub. L. 107–103 substituted “October 1, 2011” for “October 1, 2008”.

    Enacted provision · exact public law section
    (d) Procedures Applicable to Liquidation Sales on Defaulted Home Loans Guaranteed by the Department of Veterans Affairs.— Section 3732(c)(11) is amended by striking “October 1, 2008” and inserting “October 1, 2011”.

38. 2003

    Veterans Benefits Act of 2003

    Pub. L. 108–183 title IV § 406 · 117 Stat. 2651

    Substituted · 38 U.S.C. § 3732(c)(11)

    Pub. L. 108–183 substituted “October 1, 2012” for “October 1, 2011”

    Source evidence

    Code amendment note
    Subsec. (c)(11). Pub. L. 108–183 substituted “October 1, 2012” for “October 1, 2011”.

    Enacted provision · exact public law section
    SEC. 406. ONE-YEAR EXTENSION OF PROCEDURES ON LIQUIDATION SALES OF DEFAULTED HOME LOANS GUARANTEED BY THE DEPARTMENT OF VETERANS AFFAIRS.   Section 3732(c)(11) is amended by striking “October 1, 2011” and inserting “October 1, 2012”.

39. 2006

    Veterans’ Housing Opportunity and Benefits Improvement Act of 2006

    Pub. L. 109–233 title V § 503(9) · 120 Stat. 397

    Substituted · 38 U.S.C. § 3732(c)(10)(D)

    Pub. L. 109–233 substituted “paragraphs (5)(B), (6), (7)(B), and (8)(B)” for “clause (B) of paragraphs (5), (6), (7), and (8) of this subsection”

    Source evidence

    Code amendment note
    Subsec. (c)(10)(D). Pub. L. 109–233 substituted “paragraphs (5)(B), (6), (7)(B), and (8)(B)” for “clause (B) of paragraphs (5), (6), (7), and (8) of this subsection”.

    Enacted provision · exact public law section
    (9) Cross reference correction.— Section 3732(c)(10)(D) is amended by striking “clause (B) of paragraphs (5), (6), (7), and (8) of this subsection” and inserting “paragraphs (5)(B), (6), (7)(B), and (8)(B)”.

40. 2010

    Veterans’ Benefits Act of 2010

    Pub. L. 111–275 title VIII § 802(a) · 124 Stat. 2864

    1. Amended · 38 U.S.C. § 3732(a)(2)

       Pub. L. 111–275 designated existing provisions as subpar. (A)

    2. Added · 38 U.S.C. § 3732(a)(2)

       Pub. L. 111–275 added subpar. (B)

    Source evidence

    Code amendment note
    Subsec. (a)(2). Pub. L. 111–275 designated existing provisions as subpar. (A) and added subpar. (B).

    Enacted provision · exact public law section
    (a) In General.— Section 3732(a)(2) is amended— (1) by striking “Before suit” and inserting “(A) Before suit”; and (2) by adding at the end the following new subparagraph: “(B) In the event that a housing loan guaranteed under this chapter is modified under the authority provided under section 1322(b) of title 11, the Secretary may pay the holder of the obligation the unpaid principal balance of the obligation due, plus accrued interest, as of the date of the filing of the petition under title 11, but only upon the assignment, transfer, and delivery to the Secretary (in a form and manner satisfactory to the Secretary) of all rights, interest, claims, evidence, and records with respect to the housing loan.” .

41. 2012

    VA Major Construction Authorization and Expiring Authorities Extension Act of 2012

    Pub. L. 112–191 title II § 201 · 126 Stat. 1437

    Substituted · 38 U.S.C. § 3732(c)(11)

    Pub. L. 112–191 substituted “October 1, 2013” for “October 1, 2012”

    Source evidence

    Code amendment note
    Subsec. (c)(11). Pub. L. 112–191 substituted “October 1, 2013” for “October 1, 2012”.

    Enacted provision · exact public law section
    SEC. 201. EXTENSION OF AUTHORITY TO CALCULATE THE NET VALUE OF REAL PROPERTY SECURING A DEFAULTED LOAN FOR PURPOSES OF LIQUIDATION.   Section 3732(c)(11) is amended by striking “October 1, 2012” and inserting “October 1, 2013”.

42. 2013

    Department of Veterans Affairs Expiring Authorities Act of 2013

    Pub. L. 113–37 § 2(h) · 127 Stat. 523

    Substituted · 38 U.S.C. § 3732(c)(11)

    Pub. L. 113–37 substituted “October 1, 2014” for “October 1, 2013”

    Source evidence

    Code amendment note
    Subsec. (c)(11). Pub. L. 113–37 substituted “October 1, 2014” for “October 1, 2013”.

    Enacted provision · exact public law section
    (h) Extension of Authority To Calculate Net Value of Real Property Securing Defaulted Loan for Purposes of Liquidation.— Section 3732(c)(11) of such title is amended by striking “October 1, 2013” and inserting “October 1, 2014”.

    Effective date note
    Amendment by Pub. L. 113–37 effective Oct. 1, 2013, see section 4(a) of Pub. L. 113–37, set out as a note under section 322 of this title.

43. 2014

    Department of Veterans Affairs Expiring Authorities Act of 2014

    Pub. L. 113–175 title III § 302 · 128 Stat. 1901

    Substituted · 38 U.S.C. § 3732(c)(11)

    Pub. L. 113–175 substituted “October 1, 2015” for “October 1, 2014”

    Source evidence

    Code amendment note
    Subsec. (c)(11). Pub. L. 113–175 substituted “October 1, 2015” for “October 1, 2014”.

    Enacted provision · exact public law section
    SEC. 302. EXTENSION OF AUTHORITY FOR CALCULATING NET VALUE OF REAL PROPERTY AT TIME OF FORECLOSURE.   Section 3732(c)(11) is amended by striking “October 1, 2014” and inserting “October 1, 2015”.

44. 2015

    Department of Veterans Affairs Expiring Authorities Act of 2015

    Pub. L. 114–58 title II § 202 · 129 Stat. 530

    Substituted · 38 U.S.C. § 3732(c)(11)

    Pub. L. 114–58 substituted “October 1, 2016” for “October 1, 2015”

    Source evidence

    Code amendment note
    Subsec. (c)(11). Pub. L. 114–58 substituted “October 1, 2016” for “October 1, 2015”.

    Enacted provision · exact public law section
    SEC. 202. EXTENSION OF AUTHORITY FOR CALCULATING NET VALUE OF REAL PROPERTY AT TIME OF FORECLOSURE.   Section 3732(c)(11) is amended by striking “October 1, 2015” and inserting “October 1, 2016”.

45. 2016

    Department of Veterans Affairs Expiring Authorities Act of 2016

    Pub. L. 114–228 title II § 202 · 130 Stat. 935

    Substituted · 38 U.S.C. § 3732(c)(11)

    Pub. L. 114–228 substituted “October 1, 2017” for “October 1, 2016”

    Source evidence

    Code amendment note
    Subsec. (c)(11). Pub. L. 114–228 substituted “October 1, 2017” for “October 1, 2016”.

    Enacted provision · exact public law section
    SEC. 202. EXTENSION OF AUTHORITY FOR CALCULATING NET VALUE OF REAL PROPERTY AT TIME OF FORECLOSURE.   Section 3732(c)(11) is amended by striking “October 1, 2016” and inserting “October 1, 2017”.

46. 2017

    Department of Veterans Affairs Expiring Authorities Act of 2017

    Pub. L. 115–62 title II § 201 · 131 Stat. 1159

    Substituted · 38 U.S.C. § 3732(c)(11)

    Pub. L. 115–62 substituted “September 30, 2018” for “October 1, 2017”

    Source evidence

    Code amendment note
    Subsec. (c)(11). Pub. L. 115–62 substituted “September 30, 2018” for “October 1, 2017”.

    Enacted provision · exact public law section
    SEC. 201. EXTENSION OF AUTHORITY FOR CALCULATING NET VALUE OF REAL PROPERTY AT TIME OF FORECLOSURE.   Section 3732(c)(11) 38 USC 3732. is amended by striking “October 1, 2017” and inserting “September 30, 2018”.

47. 2018

    Department of Veterans Affairs Expiring Authorities Act of 2018

    Pub. L. 115–251 title I § 124 · 132 Stat. 3166

    Struck · 38 U.S.C. § 3732(c)(11)

    Pub. L. 115–251 struck out par. (11) which read as follows: “This subsection shall apply to loans closed before September 30, 2018.”

    Source evidence

    Code amendment note
    Subsec. (c)(11). Pub. L. 115–251 struck out par. (11) which read as follows: “This subsection shall apply to loans closed before September 30, 2018.”

    Enacted provision · exact public law section
    SEC. 124. MAKING PERMANENT AUTHORITY FOR CALCULATING NET VALUE OF REAL PROPERTY AT TIME OF FORECLOSURE.   Section 3732(c) is amended by striking paragraph (11).

48. 2025

    Pub. L. 119–31 § 2(a)(1)(A) · 139 Stat. 475

    Substituted · 38 U.S.C. § 3732(a)(1)

    Pub. L. 119–31, § 2(a)(1)(A), substituted “holder of the loan” for “holder of the obligation” in two places

    Unresolved: Pub. L. 119–31 was not found in the local Statutes at Large index.

    Source evidence

    Code amendment note
    Subsec. (a)(1). Pub. L. 119–31, § 2(a)(1)(A), substituted “holder of the loan” for “holder of the obligation” in two places.

49. 2025

    Pub. L. 119–31 § 2(a)(1)(B)(i) · 139 Stat. 475

    Amended · 38 U.S.C. § 3732(a)(2)(A)

    Pub. L. 119–31, § 2(a)(1)(B)(i), amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: “Before suit or foreclosure the holder of the obligation shall notify the Secretary of the default, and within thirty days thereafter the Secretary may, at the Secretary’s option, pay the holder of the obligation the unpaid balance of the obligation plus accrued interest and receive an assignment of the loan and security. Nothing in this section shall preclude any forebearance for the benefit of the veteran as may be agreed upon by the parties to the loan and approved by the Secretary.”

    Unresolved: Pub. L. 119–31 was not found in the local Statutes at Large index.

    Source evidence

    Code amendment note
    Subsec. (a)(2)(A). Pub. L. 119–31, § 2(a)(1)(B)(i), amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: “Before suit or foreclosure the holder of the obligation shall notify the Secretary of the default, and within thirty days thereafter the Secretary may, at the Secretary’s option, pay the holder of the obligation the unpaid balance of the obligation plus accrued interest and receive an assignment of the loan and security. Nothing in this section shall preclude any forebearance for the benefit of the veteran as may be agreed upon by the parties to the loan and approved by the Secretary.”

50. 2025

    Pub. L. 119–31 § 2(a)(1)(B)(ii) · 139 Stat. 475

    Substituted · 38 U.S.C. § 3732(a)(2)(B)

    Pub. L. 119–31, § 2(a)(1)(B)(ii), substituted “of the housing loan” for “of the obligation” in two places

    Unresolved: Pub. L. 119–31 was not found in the local Statutes at Large index.

    Source evidence

    Code amendment note
    Subsec. (a)(2)(B). Pub. L. 119–31, § 2(a)(1)(B)(ii), substituted “of the housing loan” for “of the obligation” in two places.

51. 2025

    Pub. L. 119–31 § 2(a)(1)(B)(iii) · 139 Stat. 475

    Added · 38 U.S.C. § 3732(a)(2)(C); 38 U.S.C. § 3732(a)(2)(D)

    Pub. L. 119–31, § 2(a)(1)(B)(iii), added subpars. (C) and (D)

    Unresolved: Pub. L. 119–31 was not found in the local Statutes at Large index.

    Source evidence

    Code amendment note
    Subsec. (a)(2)(C), (D). Pub. L. 119–31, § 2(a)(1)(B)(iii), added subpars. (C) and (D).

52. 2025

    Pub. L. 119–31 § 2(a)(1)(C) · 139 Stat. 475

    Substituted · 38 U.S.C. § 3732(a)(5)

    Pub. L. 119–31, § 2(a)(1)(C), substituted “holder of the loan” for “holder of the obligation”

    Unresolved: Pub. L. 119–31 was not found in the local Statutes at Large index.

    Source evidence

    Code amendment note
    Subsec. (a)(5). Pub. L. 119–31, § 2(a)(1)(C), substituted “holder of the loan” for “holder of the obligation”.

53. 2025

    Pub. L. 119–31 § 2(a)(2)(A) · 139 Stat. 475

    Substituted · 38 U.S.C. § 3732(c)(1)

    Pub. L. 119–31, § 2(a)(2)(A), substituted “subsection:” for “subsection—” in introductory provisions

    Unresolved: Pub. L. 119–31 was not found in the local Statutes at Large index.

    Source evidence

    Code amendment note
    Subsec. (c)(1). Pub. L. 119–31, § 2(a)(2)(A), substituted “subsection:” for “subsection—” in introductory provisions.

54. 2025

    Pub. L. 119–31 § 2(a)(2)(B) · 139 Stat. 475

    Substituted · 38 U.S.C. § 3732(c)(10)(B)(i)

    Pub. L. 119–31, § 2(a)(2)(B), substituted “forbearance” for “forebearance” in two places

    Unresolved: Pub. L. 119–31 was not found in the local Statutes at Large index.

    Source evidence

    Code amendment note
    Subsec. (c)(10)(B)(i). Pub. L. 119–31, § 2(a)(2)(B), substituted “forbearance” for “forebearance” in two places.

55. 2025

    Pub. L. 119–31 § 2(a)(3) · 139 Stat. 475

    Added · 38 U.S.C. § 3732(d)

    Pub. L. 119–31, § 2(a)(3), added subsec. (d)

    Unresolved: Pub. L. 119–31 was not found in the local Statutes at Large index.

    Source evidence

    Code amendment note
    Subsec. (d). Pub. L. 119–31, § 2(a)(3), added subsec. (d).

56 of 67 references resolved to an enrolled provision · 3 partial · 8 unresolved