Rhode Island Foreclosure Timeline and Laws

Rhode Island Foreclosure Process and Procedure

If you default on your mortgage, your lender can institute foreclosure proceedings against you and auction your property at a foreclosure sale.

Rhode Island has a non-judicial foreclosure process and several other actions such as eviction, deed in lieu and taking possession of property. Non-judicial actions are more common. Judicial foreclosures are conducted as well.

Notice Requirements for Foreclosure in Rhode Island

For non-judicial foreclosures, before scheduling a sale, the lender’s attorney must give the borrower a notice of the sale at least 20 days before advertising the notice stating the property address, the mortgage date, amount due and date and place of sale.

The notice of sale must be published at least once per week for three weeks in a local newspaper in the county where the property is located. The first notice must appear at least 22 days prior to the sale. 

Rhode Island Deficiency and Anti-Deficiency Laws

The lender may obtain a deficiency judgment if the property is sold a public sale for less than the loan amount.

Rhode Island Redemption Rights

There is no deficiency judgment in a non-judicial foreclosure.  In certain judicial possessory actions, there is a right to redemption permitted up to three years.

Rhode Island Assistance, Special Programs, Government Help, and Law Updates

Foreclosure Programs:

• Rhode Island Foreclosure Avoidance Counseling -HUD
• The Home Affordable Mortgage Modification Program
• The Home Affordable Refinance Program
• The Home Affordable Foreclosure Alternatives Program
• FHA Secure
• Hope for Homeowners

Foreclosure Lawyer

Rhode Island foreclosure laws are complex. It is recommended that you consult with a foreclosure lawyer who can advise you about options to avoid foreclosure including refinancing, reinstatement, deed in lieu, mortgage modification, short sale or bankruptcy.