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Foreclosure Evaluation & Ebook

  • Evaluate Your Situation (Form Below)

    Not many people know how to find the right solutions for their problem. This process will save time and answer many of your questions.

  • Explore All Possible Options

    After the evaluation, you will understand every possible option available for your exact situation. No more searching or worrying about finding a solution.

  • Avoid Further Loss or Judgments

    Regardless of what option you choose, our process takes every possible precaution to help you avoid further losses or deficiency judgments.

  • Recovery From Foreclosure

    Regardless of whether you keep your home, or walk away, we will take steps to help your credit and start the financial recovery.

  • Full Support & Accountability

    We take the problems of our visitors very seriously. We know your financial future is at risk and we pledge our full support to help you through these tough times.

Delaware Foreclosure Laws

Expected Timeline: Three to seven months
Security Instrument: Mortgage
Type of Process: Judicial foreclosure
Protections for Servicemembers: None.
Time to Respond: Twenty days to respond with why a foreclosure should not proceed to an Order to Show Cause. Homeowners receive a ten day notice of sale after judgment in the lawsuit.
Reinstatement Period: None.
Protections for High-Cost Mortgages: None.
Redemption Period: Able to redeem until court confirms sheriff sale.
Eviction Process: New owner can file summar eviction lawsuit five days after the auction. Eviction hearing will be held within 5-30 days. Eviction will be ordered after hearing if former owners do not show up or lose. See Del. Code Ann. tit. 10, § 5703-5708.
Deficiency Judgments: May be obtained if bank files separate lawsuit after foreclosure jdugment.
Limits on Deficiency Judgments: Deficiency judgment allowed if lawsuit filed on note. Not allowed in judicial foreclosure proceedings.
Cash Exempted in Bankruptcy: $500 for single person, $1,000 for married couple.
State Statutes: Del. Code Ann. tit. 10, § 5061

The Judicial Foreclosure Process in Delaware is different from that of most other states. In Delaware , the lender sues to obtain an order to foreclose, but it is up to the borrower to prove to the courts that he is not in default. The lender does not have to prove that the borrower has defaulted on the loan.

Once the lender files the suit, the borrower has twenty (20) days after being served the notice to appear in court. If the borrower does not appear in court, an order to foreclose will be issued.

The sale may be held by the county sheriff at the county courthouse or at the property itself. The sale may not be held less than fourteen (14) days after the notice of sale has been posted at the property and several other public places located in the county that the property is located in.

The borrower has no right to redeem the property after the sale, and the lender has no right to sue the borrower for a deficiency judgment.

State Website: www.legis.state.de.us