Rhode Island Foreclosures - 824 Foreclosure Listings

Foreclosure Homes in Rhode Island

There are currently foreclosed homes listed in Rhode Island. Why should you consider buying a foreclosure property in Rhode Island? To save money, of course! That’s right, purchasing a foreclosed home can save you as much as 50 percent or more on the final sale price of a distressed deal in Rhode Island when compared to a traditional single-family house. We’ve also got awesome deals on top of incredible foreclosure deals, from rent-to-own homes, short sales and preforeclosures in Rhode Island, as well as bankruptcy filings and government-owned foreclosure listings such as HUD, Fannie Mae and Freddie Mac, among others. Just select the county in Rhode Island that you want to look for a property below. Then search through all distressed real estate listings in Rhode Island for the amazing deal that’s right for you.

Rhode Island Foreclosure Laws

Rhode Island often relies on nonjudicial foreclosure using a power-of-sale clause in the mortgage. Court involvement is usually limited unless the borrower contests the action. The timeline is generally shorter than in judicial states. Deficiency balances may be pursued after the sale in some situations.

Foreclosure Type Process

Non-Judicial
Mortgage Instrument Security Type

Mortgage. Deeds of trust are not customary.
Typical Timeline Duration

2-4 months
Deficiency Judgment

Deficiency judgments permitted
Redemption Period Owner Rights

No post-sale redemption.
Process Summary

Rhode Island foreclosures are judicial. The lender must obtain a court judgment before selling the property.
Notice / Timing Statute

Rhode Island General Laws § 34-27-1 et seq. (power of sale foreclosure)
Redemption Statute(s)

Rhode Island General Laws § 34-27-4 (no statutory post-sale redemption)
Deficiency Statute(s)

Rhode Island General Laws § 34-27-4 (deficiency allowed after foreclosure)

How to Buy a Foreclosure in Rhode Island

In Rhode Island, locate foreclosure properties via county clerk sales, MLS, and legal ads. Rhode Island uses judicial foreclosure; understand timelines and redemption rights. Have financing in place before bidding. Conduct title and inspection checks. Attend the court sale and follow through on documentation.

What type of foreclosure is used in Rhode Island?

The type of foreclosure in Rhode Island is Non-Judicial

Is there a redemption period in Rhode Island?

No post-sale redemption.

Are deficiency judgments allowed in Rhode Island?

Deficiency judgments permitted in Rhode Island

How do you buy a foreclosure in Rhode Island?

In Rhode Island, locate foreclosure properties via county clerk sales, MLS, and legal ads.