In Rhode Island, there are two main foreclosure processes - judicial foreclosure and non-judicial foreclosure. For judicial foreclosure, the lender files a lawsuit to obtain a court order to foreclose. For non-judicial foreclosure, the lender can foreclose using a power of sale clause in the mortgage or deed of trust and follow specific notice and publication guidelines, including mailing notice at least 20 days prior to publication and publishing notice once a week for 3 weeks with the first notice at least 21 days before the sale date. Deficiency judgments are allowed in Rhode Island following a foreclosure.

1. HOME
Rhode Island Foreclosure Law Summary
WHAT IS A SHORT SALE
Quick Facts
WHY USE SHORT SALE US
- Judicial Foreclosure Available: Yes
SUCCESS STORIES
- Non-Judicial Foreclosure Available: Yes
WHO QUALIFIES FOR A SHORT SALE
- Primary Security Instruments: Deed of Trust, Mortgage
FAQs
- Timeline: Typically 60 days
SHORT SALE NEWS
- Right of Redemption: Varies by Process
VALUE YOUR HOME
- Deficiency Judgments Allowed: Yes
STATE FORCLOSURE LAWS
In Rhode Island, lenders may foreclose on deeds of trusts or mortgages in
CONTACT US default: 1) by using the judicial foreclosure process; 2) by filing a lawsuit
seeking eviction; 3) by taking possession of the house; 4) by the borrower
HIRE US voluntarily giving up possession; or 5) by using the non-judicial foreclosure
process.
Judicial Foreclosure
The judicial process of foreclosure, which involves filing a lawsuit to obtain a
court order to foreclose, is used when no power of sale is present in the
mortgage or deed of trust. Generally, after the court declares a foreclosure,
your home will be auctioned off to the highest bidder.
Special Procedures
In instances where the lender takes possession of the house, they must do so
peaceably and in the presence of two witnesses. Said witnesses must give a
certificate of possession, which must then be notarized. Additionally,
borrowers who voluntarily give up possession of the property must do so in
the presence of a notary. In these instances, the lender will obtain the full title
to the property if they are able to maintain possession for an established
period of time.
Non-Judicial Foreclosure
The non-judicial process of foreclosure is used when a power of sale clause
exists in a mortgage or deed of trust. A "power of sale" clause is the clause in
a deed of trust or mortgage, in which the borrower pre-authorizes the sale of
property to pay off the balance on a loan in the event of the their default. In
deeds of trust or mortgages where a power of sale exists, the power given to
the lender to sell the property may be executed by the lender or their
representative, typically referred to as the trustee. Regulations for this type of
foreclosure process are outlined below in the "Power of Sale Foreclosure
Guidelines".

2. Power of Sale Foreclosure Guidelines
If the deed of trust or mortgage contains a power of sale clause and specifies
the time, place and terms of sale, then the specified procedure must be
followed. Otherwise, the non-judicial power of sale foreclosure is carried out
as follows:
The lender must mail a written notice of the time and place of sale, by certified
mail, return receipt requested, to the borrower at his or her last known
address, at least twenty (20) days prior to the first publication, including the
day of mailing in the computation.
The lender must give notice of the sale by publication in some public
newspaper at least once a week for three (3) successive weeks before the
sale, with the first publication of the notice being at least twenty-one (21) days
before the day of sale, including the day of the first publication in the
computation.
Said notice must contain the names of the borrower and lender, the mortgage
date, the amount due, a description of the premises and the time and place of
sale.
Any person may bid at the sale, including the lender.
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