What are the foreclosure laws in Delaware?
The laws for foreclosure in Delaware can be confusing.
Summary:
| Judicial Foreclosure | Yes |
| Non-Judicial Foreclosure | No |
| Security Instruments | Mortgage |
| Right of Redemption | No |
| Deficiency Judgments | No |
| Time Frame | Usually 90 days |
Judicial foreclosure in Delaware differs from that in most other states. While the lender files a suit to obtain an order to foreclose, the burden of proof to show that he is not in default is on the borrower, rather than the lender having to prove that he is in default. The borrower must appear in court with 20 days of being served with a notice of intent to foreclose. If the borrower fails to make his case, an order to foreclose will be issued by the court.
The sale is held be the sheriff either at the county courthouse, or at the property itself. The sale must be held not less than 14 days after the notice of sale has been posted at the property and at several other public places throughout the county in which the property is located.
The owner’s right of redemption ends with court conformation of the sale. No suit for any deficiency balance is permitted.
