Page:United States Statutes at Large Volume 103 Part 2.djvu/1045

 PUBLIC LAW 101-235—DEC. 15, 1989 103 STAT. 2055 Commission, but which shall not exceed the rate established for level V of the Executive Schedule under title 5, United States Code. (2) In addition to the executive director, the Commission may appoint and fix the compensation of such personnel as it deems advisable, in accordance with the provisions of title 5, United States Code, governing appointments to the competitive service, and the provisions of chapter 51 and subchapter III of chapter 53 of such title, relating to classification and General Schedule pay rates. (3) ADVISORY COMMITTEE. — The Commission shall be considered an advisory committee within the meaning of the Federal Advisory Committee Act (5 U.S.C. App.). SEC. 605. AUTHORIZATION OF APPROPRIATIONS. There are authorized to be appropriated not to exceed $500,000 for each of the fiscal years 1990 and 1991. Any sums so appropriated shall remain available until expended. TITLE VII—MISCELLANEOUS SEC. 701. NULLIFICATION OF RIGHT OF REDEMPTION OF SINGLE FAMILY MORTGAGORS UNDER SECTION 312 REHABILITATION LOAN PROGRAM. (a) IN GENERAL. —Whenever with respect to a single family mort- gage securing a loan under section 312 of the Housing Act of 1964, the Secretary of Housing and Urban Development or its foreclosure agent forecloses in any Federal or State court or pursuant to a power of sale in a mortgage, the purchaser at the foreclosure sale shall be entitled to receive a conveyance of title to, and possession of, the property, subject to any interests senior to the interests of the Secretary. With respect to properties that are vacant and aban- doned, notwithstanding any State law to the contrary, there shall be no right of redemption (including all instances any right to posses- sion based upon any right of redemption) in the mor^agor or any other person subsequent to the foreclosure sale in connection with such single family mortgage. The appropriate State official or the trustee, as the case may be, shall execute and deliver a deed or other appropriate instrument conveying title to the purchaser at the foreclosure sale, consistent with applicable procedures in the juris- diction and without regard to any such right of redemption. (b) FORECLOSURE BY OTHERS. —W henever with respect to a single family mortgage on a property that also has a single family mort- gage securing a loan under section 312 of the Housing Act of 1964, a mortgagee forecloses in any Federal or State court or pursuant to a power of sale in a mortgage, the Secretary of Housing and Urban Development, if the Secretary is purchaser at the foreclosure sale, shall be entitled to receive a conveyance of title to, and possession of, the property, subject to the interests senior to the interests of the mortgagee. Notwithstanding any State law to the contrary, there shall be no right of redemption (including in all instances any right to possession based upon any right of redemption) if the mortgagor or any other person subsequent to the foreclosure sale to the Sec- retory in connection with a property that secured a single family mortgage for a loan under section 312 of the Housing Act of 1964. The appropriate Stote official or the trustee, as the case may be, shall execute and deliver a deed or other appropriate instrument conveying title to the Secretary, who is the purcheiser at the fore- Real property. State and local governments. 42 USC 1452c.

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