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Delaware Foreclosure Law and Procedures

Here is a summary of foreclosure laws and rules for the State of Delaware:

  • Lenders use a mortgage and foreclose judicially. Non-judicial foreclosures are not used.
  • There is no right of redemption but the sale can be contested until it is confirmed by the court.
  • The lender can pursue a deficiency by a number of methods, including filing a separate action to collect on the promissory note. The lender can sue on the promissory note and pursue foreclosure simultaneously. The lender can only collect the full balance that it is owed.
If you are interested in reading the actual statutes relevant to mortgage and foreclosure in Delaware those laws are available online.
Learn more about what the above procedures and rules mean. Review the homeowner foreclosure guide on this website.
Posted by Ralphmcd3 on Sat, 02/23/2008 - 15:49

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