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45 C.F.R. § 30.16

Liquidation of collateral.

§ 30.16 Liquidation of collateral.

(a)

(1) The Secretary will liquidate security or collateral through the exercise of a power of sale in the security instrument or a non-judicial foreclosure, and apply the proceeds to the applicable debt(s), if the debtor fails to pay the debt(s) within a reasonable time after demand and if such action is in the best interests of the United States.

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