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Rhode Island Foreclosure Laws

Judicial Yes
Non-Judicial Yes
Process Period 62 Days
Sale Publication 21 Days
Redemption Period None
Sale / NTS Trustee

Judicial Foreclosures: In occur foreclosure proceedings rarely occur. They only reason to have a judicial foreclosure is if there is a problem with the title or other significant issues.

Non-Judicial Foreclosure: In the state of Rhode Island there is usually a power-of-sale clause in the mortgage, which allows the lender to sell the property if the borrower defaults. The mortgage often includes an agreement which states that the lender notify the borrower of default before they can initiate the foreclosure proceedings. The process begins with the lender forwarding all applicable documents to the attorney. Twenty days before scheduling and advertising the sale the attorney will notify the borrower.

Sale: The notice of sale should be published in the local newspaper once a week for three weeks, and should include the address of the property, mortgage date, the amount due, and the location and date of the sale. The sale is conducted be an auctioneer, anyone can bid on the property including the lender, and the highest bidder receives a certificate of sale.

Additional Information on Rhode Island Foreclosure