How Foreclosure Works in Rhode Island

Both. A lender may file a complaint in court to foreclose, or, under a mortgage with a power of sale, may sell the property after giving the mailed and published notices required by statute, without a court case.

Before starting a foreclosure on an owner-occupied, one- to four-unit primary residence, the lender must send the homeowner written notice that it may not foreclose without first participating in a mediation conference (see mediation_program). For a power-of-sale foreclosure, the homeowner must be mailed written notice of the time and place of sale by certified mail, return receipt requested, at the property address (and any tax-assessor or designated address) at least 30 days before the first newspaper publication for individual consumer borrowers (20 days for others). The notice must include information about servicemember rights. The sale must then be advertised in a newspaper once a week for three successive weeks, with the first publication at least 21 days before the sale and the third publication 7 to 14 days before the original sale date. Bona fide tenants must be mailed a notice of the scheduled sale at least one business day before the first publication.

Minimums set by statute for a power-of-sale foreclosure: the mediation requirement must be completed first for covered homes; the mailed notice must go to an individual consumer borrower at least 30 days before the first publication; the first of three weekly publications must be at least 21 days before the sale; and the sale may take place no more than 14 days after the third publication.