Loan Modification Blog » Delaware Foreclosure http://www.1stforeclosureprevention.com/blog Loan Modification Blog Sat, 31 Jul 2010 03:04:43 +0000 http://wordpress.org/?v=2.8.5 en hourly 1 Delaware Foreclosure http://www.1stforeclosureprevention.com/blog/2009/08/03/delaware-foreclosure/ http://www.1stforeclosureprevention.com/blog/2009/08/03/delaware-foreclosure/#comments Mon, 03 Aug 2009 06:53:58 +0000 admin http://www.1stforeclosureprevention.com/blog/?p=170 If you live in the state of Delaware and face foreclosure, you need to know the basics of the foreclosure laws of your state. In Delaware, there is only judicial foreclosure. Delaware is far stricter then other states in their foreclosure procedures. In the state of Delaware, although the lender can file for suit of foreclosure, the burden of proof of default lies on the borrower. Typically, the lender files suit for foreclosure and the lender shows their documentation of default of the borrower and foreclosure procedures automatically begin. However, in Delaware the borrower has to present in court within 20 days of being served with intent giving the borrower the chance to present their side of the case and possibly be able to stop foreclosure procedures right there. However, if the borrower does not appear in court within the given time, foreclosure procedures begin as well as if the borrower does not meet the burden of proof. The borrower loses all rights to redemption and deficiency judgment if they do not appear in court as well.

From that point, notice of sale is posted at the property in foreclosure as well as at several other public locations throughout the county of where the property is located. It may also run in the local newsprint of the county the property is located as well, variant upon lender. The sale of the property must not be held less then 14 days of these notices being made.

If you live in Delaware and are facing foreclosure, 1st Foreclosure Prevention can help you work with you lender to stop the foreclosure process and help you to save your home.

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