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Statute of limitations for foreclosure

Discussion in 'Foreclosure, Repossession, Auctions, Short Sales' started by Maribeth, Mar 30, 2015.

  1. Maribeth

    Maribeth Law Topic Starter New Member

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    I would like to know the limitations on foreclosures in DE. The home I own jointly with x-husband is being foreclosed on and I would like to know statute of limitations, or how long the Credit Union has to complete foreclosure.
     
  2. ElleMD

    ElleMD Well-Known Member

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  3. Michael Wechsler

    Michael Wechsler Administrator Staff Member

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    The Delaware statutes regarding foreclosures can be found in Title 10. I doubt that you're within the statute of limitations, which is usually measured in years. Don't expect to just walk away with a free home as a result of not paying. Understand that the bank is still the owner of the home. Typically the statute of limitations only runs with regard to starting a foreclosure action, not completing it. That is my understanding, e.g. if the bank begins the action within the statute of limitations, they have warded off such a defense and do not have to complete the foreclosure within the period of time from when the statute first began to run.
     
  4. army judge

    army judge Super Moderator

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    As usual, professor, your understanding is 100% correct, with regard to foreclosure and the SOL.
     
  5. army judge

    army judge Super Moderator

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    As usual, professor, your understanding is 100% correct, with regard to foreclosure and the SOL.
     
  6. Maribeth

    Maribeth Law Topic Starter New Member

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    Thank goodness. I in no way, want him to walk away from this with the house in tow.
     

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