Delaware Foreclosure Law
- Judicial Foreclosure Available: Yes
- Non-Judicial Foreclosure Available: No
- Primary Security Instruments: Mortgage
- Timeline: Usually 90 days
- Right of Redemption1: No
- Deficiency Judgments2 Allowed: No
Lenders in the state of Delaware may foreclose on mortgages in default by using a judicial foreclosure process.
Judicial Foreclosure
A judicial process of foreclosure requires that the lender file a lawsuit and attain a court order to foreclose on a particular property. In Delaware, lenders are provided a variety of options in which they may pursue judicial foreclosure. The most common is Scire Facias (judicial writ).
Unlike judicial proceedings in other states that require the lender to prove that the borrower is in default of the mortgage, Delaware requires that the borrower prove they are not in default.
Typically, the lender files a motion with the court that the borrower is in default. The borrower must then appear in court within twenty (20) days of being served with the judicial writ to provide proof that they are up to date on their payments and that foreclosure proceedings should not occur. If the court is not satisfied with the borrower’s evidence, a foreclosure sale is ordered by the court.
The foreclosure sale is conducted by the sheriff and held either at the courthouse or the property at least fourteen (14) days after the notice of sale is posted. The notice is posted on the property itself and in other public places throughout the county where the property is located.
Once the court has confirmed the sale, the buyer no longer has any rights of redemption available.
1 A borrower’s right to reacquire property lost due to a foreclosure.
2 A personal judgment against the borrower for the remaining balance on the loan after a foreclosure sale.
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