Delaware Foreclosure Law Summary
Stop Delaware Foreclosure
Quick Facts
- Judicial Foreclosure Available: Yes
- Non-Judicial Foreclosure Available: No
- Primary Security Instruments: Mortgage
- Timeline: Typically 90 days
- Right of Redemption: No
- Deficiency Judgments Allowed: No
In Delaware, lenders may foreclose on a mortgage in default by
using the judicial foreclosure process.
Judicial Foreclosure
Lenders in Delaware are given a number of options in which they
may pursue judicial foreclosure, but the most commonly used procedure is the Scire
Facias.
This proceeding is quite different from other judicial foreclosures
because instead of the lender having to prove the borrower is in default of the
mortgage, the borrower has to prove he isn't. Although the suit to obtain an order
for foreclosure is filed by the lender, the borrower must appear in court within
twenty (20) days of being served a writ to provide evidence as to why the foreclosure
should not take place. Unless the court is satisfied with the borrowers explanation
and evidence, they will authorize a foreclosure sale.
Said sale must be conducted by the sheriff and held either at
the courthouse or at the property itself at least fourteen (14) days after the notice
of sale is posted on the property and in other public places throughout the county
in which it is located.
The buyer has no right of redemption once the court has confirmed
the sale.
More information on Delaware foreclosure laws.
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