Delaware Foreclosure Timeline and Laws

Delaware Foreclosure Process and Procedure

If you default on your mortgage, your lender can institute foreclosure proceedings against you. You risk losing your home.

Delaware foreclosures are conducted by judicial foreclosure proceedings. The most common procedure is known as scire facias. The property is sold at a publicly noticed sale.

Notice Requirements for Foreclosure in Delaware

Foreclosure proceedings are instituted by the lender filing a lis pendens and complaint with the court and served on the borrower and all lien holders.   The borrower has 20 days to respond.

Notice of sale must be posted on the property and in other public places and delivered to the borrower and lien holders at least 10 days prior to the sale. The notice must contain the date, time and location of sale, property description, location of the property and be published in two local newspapers in the county where the property is located for three consecutive weeks two weeks prior to the sale.

Delaware Deficiency and Anti-Deficiency Laws

A deficiency judgment is allowed if the property sold at a public sale for less than the loan balance.

Delaware Redemption Rights

Delaware has no post-sale statutory right of redemption. Usually there is a confirmation hearing scheduled on thirty days notice after the sale. A borrower can usually redeem during that period but not after.

Delaware Assistance, Special Programs, Government Help, and Law Updates

Foreclosure Programs:

• Delaware Foreclosure Avoidance Counseling -HUD
• Delaware Foreclosure Mediation Program
• The Home Affordable Mortgage Modification Program
• The Home Affordable Refinance Program
• The Home Affordable Foreclosure Alternatives Program
• FHA Secure
• Hope for Homeowners

Foreclosure Lawyer

Delaware foreclosure laws are complex. It is recommended that you consult with a foreclosure lawyer who can advise you about options to avoid foreclosure including refinancing, reinstatement, deed in lieu, mortgage modification, short sale or bankruptcy.