(a) The chairman may bid for the land at any trustee's sale for any amount that the chairman deems to be in the best interest of the program. All land purchased by the Board at a foreclosure sale shall be resold by private sale according to the practices prevalent in the mortgage industry, or, in the same manner as forfeited land under §175.18 of this title.
(b) The chairman may collect any deficiencies as allowed by law.
(c) "Trustee's sale" means any foreclosure sale under this subchapter.

Source Note: The provisions of this §175.62 adopted to be effective April 20, 2003, 28 TexReg 3068; amended to be effective March 18, 2008, 33 TexReg 2319