A foreclosure in Delaware has to go through the court or judicial system. In Delaware, a foreclosure process takes anywhere from 7 to 10 months to finish.

Pre-foreclosure Period

If a borrower in Delaware defaults on a deed of trust or mortgage, then the proceedings for Delaware foreclosure will begin. The first thing that the lenders have to do is file a complaint in the court. The borrower will be given clear instructions and has to appear in the court within 20 days from the date of notifying. The borrower will have to provide evidence against the foreclosure or why the Delaware foreclosure should not take place. If the lender or the court is unable to locate the borrower, then the pre-foreclosure period can last for 3 months. If after 3 months, the borrower is unable to appear in court then the court will go ahead and rule the borrower to be in default. The lender can submit a request for conducting a sale of property with the county sheriff 11 days after the court has ruled the borrower to be at default.

Notice of Sale / Auction

The sheriff takes care of the proceedings and conducts the auction or sale. The time period can range from 2 to 3 months during which the Sheriff will place advertisements notifying the sale and also post the notice of the sale.  The sheriff will post the notice for sale on the Delaware foreclosed property as well as in public places 14 days prior to the date of sale. The notice for sale will highlight important information like a small description of the property, the date, time, and venue of the sale. This notice is delivered to the homeowner or borrower 10 days prior to the date of the sale. The Sheriff will publish the notice of sale in two local newspapers at least three times a week for two consecutive weeks.