The fresh owner of your own certificate get initiate foreclosure legal proceeding (after providing written notice of these step into Secretary) and you can abreast of a final purchase from the court permitting foreclosures and you can entry to the Secretary of a declare getting payment within the verify, the fresh new Assistant will spend into manager of your certificate the brand new pro-rata part of the amount guaranteed (just like the calculated pursuant to help you subsection (e)) and reasonable fees and you may expenses because the approved by the Secretary. The fresh Secretary will likely be subrogated on liberties of your own manager of your make certain additionally the financial holder will designate the duty and security on the Secretary. (more…)