Learn about the basic features of Rhode Island's foreclosure law and procedure.
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.
|
Topic |
State Rule |
|
Most common type of foreclosure process |
Nonjudicial under power of sale in mortgage |
|
Notice of the foreclosure |
A 45-day preforeclosure notice must be mailed to the borrower. Foreclosing party must also provide a mediation notice to borrower prior to initiating foreclosure. 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. |
|
Reinstatement of loan before sale |
Not available (except as permitted by the terms of the mortgage) |
|
Redemption after sale |
Not available after a nonjudicial foreclosure |
|
Special protections for foreclosures involving high-cost mortgages |
Borrower can ask court to stop (enjoin) the foreclosure if the lender violated the Rhode Island Home Loan Protection Act, which forbids certain activities (such as balloon payments and negative amortization) related to high-cost home loans. R.I. Gen. Laws § § 35-25.2-1 to 35-25.2-11 |
|
Special state protections for service members |
Protections under the federal Servicemembers Civil Relief Act extended to all national guard members on state active duty for a continuous period over 90 days. R.I. Gen. Laws § 30-7-10 |
|
Deficiency judgments |
Allowed if foreclosing party files separate lawsuit after sale |
|
Cash exempted in bankruptcy |
About $12,725 for one person, $25,450 for a married couple under federal bankruptcy exemptions. Up to $5,000 ($10,000 if married filing jointly) under state bankruptcy exemptions. |
|
Notice to leave after house is sold |
After foreclosure, the purchaser may send a notice to vacate (leave) and then file an eviction lawsuit. The former homeowners get 20 days to respond to the suit seeking eviction. |
|
Foreclosure statutes |
R.I. Gen. Laws § § 34-27-1 to 34-27-5; 34-25.2-1 to 34-25.2-15 |
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