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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. |
