Delaware Foreclosure Laws

Delaware does not allow the non-judicial method of foreclosure and only recognizes the judicial foreclosure. The only security instrument that is recognized by the system in this state is the mortgage and they do not allow the use of a Dee of Trust as a security instrument.

The amount of time for a foreclosure to run the course from beginning to end, run an average of about 90 days. This is a little longer than most of the states surrounding Delaware.

Also the state laws of Delaware with regards to foreclosure do not allow the foreclosed party to the right of redemption so once the foreclosure is done the party has no right whatsoever to repurchase any of the property. Another thing, in the state of Delaware the lender is not allowed to have a Deficiency Judgement against the foreclosed owner so that once the property is foreclosed, the previous owner may not be held liable for the difference between the amount owed and the foreclosure sale amount.

To get a foreclosure in the state of Delaware a lender must file a lawsuit and attain a court order to foreclose on a particular property. There is a variety of options in which they may pursue judicial foreclosure. The most common is Scire Facias (judicial writ).

Unlike judicial proceedings in the other states that require the lender to prove that the borrower is in default of the mortgage, the state of Delaware requires that the borrower prove they are not in default.

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