Statute of limitations for foreclosure

Maribeth

New Member
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.
 
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.
 
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.

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

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