If you are facing foreclosure in Rhode Island, it’s important to understand some of the basics, including:
- the most common type of foreclosure procedure (judicial v. nonjudicial) used in Rhode Island
- how much time you have to respond
- your rights and protections in the process, and
- what happens afterwards (for example, whether you’ll be liable for a deficiency judgment).
Below we have outlined some of the most important features of Rhode Island foreclosure law. Keep in mind that this is just a summary; we’ve included statute citations so you can get more details from the laws themselves. And be sure to check out Nolo’s extensive Foreclosure section, where you can find information about all aspects of foreclosure, definitions of foreclosure terms (like redemption and reinstatement), and options to avoid foreclosure.
|Common type of foreclosure process||Nonjudicial: under power of sale in deed of trust|
|Time to respond||Foreclosing party must publish notice of sale for three consecutive weeks before sale; first publication must be at least 21 days before and the third publication must be at least 7 days before the original date of sale listed in the advertisement and no more than 14 days before the original date of sale listed in the advertisement. Foreclosing party must serve notice of sale on homeowner by mail at least 30 days before first publication.|
|Reinstatement of loan before sale||No|
|Redemption after sale||To redeem, former owner must file lawsuit. Allowed up to three years after sale.|
|Special protections for foreclosures involving high-cost mortgages||Homeowner can ask court to stop (enjoin) the foreclosure if loan is high-cost or predatory lending practices were used. Rhode Island Home Loan Protection Act, R.I. Gen. Laws §§ 35-25.2-1 to 35-25.2-11|
|Special state protections for service members||R.I. Gen. Laws § 30-7-10|
|Deficiency judgments||Allowed if foreclosing party files separate lawsuit after sale.|
|Cash exempted in bankruptcy||About $11,000 for one person, $22,000 for a married couple under federal bankruptcy exemptions|
|Notice to leave after house is sold||Former owner must get a 20-day notice to quit (leave). After that new owner may go to court for a summary eviction procedure that takes two weeks to a month.|
|Foreclosure statutes||R.I. Gen. Laws §§ 34-27-1 to 34-27-5|