Behind on your mortgage? Work with your lender!

In Delaware, lenders may foreclose on a mortgage in default by using the judicial foreclosure process.

Judicial Foreclosure

Lenders in Delaware are given a number of options in which they may pursue judicial foreclosure, but the most commonly used procedure is the Scire Facias.

This proceeding is quite different from other judicial foreclosures because instead of the lender having to prove the borrower is in default of the mortgage, the borrower has to prove he isn't. Although the suit to obtain an order for foreclosure is filed by the lender, the borrower must appear in court within twenty (20) days of being served a writ to provide evidence as to why the foreclosure should not take place. Unless the court is satisfied with the borrowers explanation and evidence, they will authorize a foreclosure sale.

Said sale must be conducted by the sheriff and held either at the courthouse or at the property itself at least fourteen (14) days after the notice of sale is posted on the property and in other public places throughout the county in which it is located.

The buyer has no right of redemption once the court has confirmed the sale.

If you or someone you know is behind on their mortgage, please have them call us here at Erik Hoferer & Associates.  We work with lenders every day, and know what they are looking for and how to get this situation under control.  I want to be clear here - the bank does not want the house back!  They want their money and that is the dialogue we are able to open with them.  Call us today at 302 299-1111 or go to our web site www.shorttosold.com and register.  Its that easy.