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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

HUD resources for Rhode Island residents

The information and notices contained on this website are intended as general research and information and are expressly not intended, and should not be regarded, as financial or legal advice. We attempt to ensure that the material contained on the web-site is accurate and complete at the date first published, however you should recognize that information contained on this web-site may become out of date over time. Readers who have particular questions real estate financing or foreclosure, or who believe they require legal counsel, should seek the advice of an attorney. By submitting this contact request, you are consenting to be contacted by foreclosure consultants by telephone or email, even if you have previously listed yourself on any state or federal Do-Not-Call List. Please note that Wisdom may receive compensation from the foreclosure consultants for that introduction.