Summary of Rhode Island's Foreclosure Laws

If you're facing a foreclosure in Rhode Island, it’s important to understand some of the basics, including:

• the most common type of foreclosure procedure (judicial or nonjudicial)
• your rights and protections in the process, and
• what happens afterward (for example, whether you’ll be liable for a deficiency judgment).

Below we have outlined some of the most important features of Rhode Island’s foreclosure laws.

Most Common Type of Foreclosure Process in Rhode Island

Most foreclosures in Rhode Island are nonjudicial under a power of sale in a mortgage.

Rhode Island Nonjudicial Foreclosure Process in a Nutshell

Here’s a summary of the steps involved in the process:

• The lender mails a notice to the borrower at least 45 days before starting the foreclosure.
• The lender must also provide a mediation notice to borrower prior to initiating the foreclosure.
• A notice of sale must be mailed by certified mail to borrower at least 30 days before first publication and published in a newspaper for three consecutive weeks before sale.

No Right Under State Law to Reinstate Before the Sale

Rhode Island law doesn’t provide the borrower with the right to reinstate the loan. The terms of the mortgage contract, however, might give you this right. To find out if you get the right to complete a reinstatement, check your mortgage contract.

No Right of Redemption After the Sale

The borrower does not get a right of redemption after a nonjudicial foreclosure.

Deficiency Judgments

Deficiency judgments are allowed if the lender files a separate lawsuit after the foreclosure sale.

Finding Rhode Island’s Foreclosure Statutes

You can find Rhode Island’s foreclosure laws in the State of Rhode Island General Laws in §§ 34-27-1 to 34-27-5; 34-25.2-1 to 34-25.2-15. (To learn how to look up foreclosure laws, see How to Find the Foreclosure Laws in Your State.)

Getting Help

Federal and state laws establish a structured foreclosure process and timeline. But mistakes that violate the law are common in foreclosures. If you think your lender or servicer broke the law in the foreclosure process or you want to find out about different ways to fight a foreclosure, consider contacting a local foreclosure attorney.

It’s also a good idea to contact a HUD-approved housing counselor if you want to learn about different loss mitigation options.