The bill amends Section 34-27-4 of the General Laws in Chapter 34-27, which pertains to mortgage foreclosure and sale, to update the requirements for notifying mortgagors about the sale of real estate under a power of sale mortgage. It specifies that written notice must be sent to the mortgagor via United States Postal Service First Class Mail and/or an overnight delivery service, rather than through certified mail return receipt requested. The notice must be sent at least twenty (20) days prior to the first publication for non-consumer mortgagors and thirty (30) days for individual consumer mortgagors.

Additionally, the bill includes provisions to protect active military servicemembers by requiring that they be informed of their rights and allowing them to stay foreclosure proceedings during their active duty or deployment. The bill also outlines the definitions of "servicemember" and "active duty," and establishes the conditions under which a mortgagee is barred from proceeding with foreclosure actions against servicemembers. It includes penalties for mortgagees who violate these provisions. The act aims to enhance the protections for servicemembers during foreclosure processes and will take effect upon passage.

Statutes affected:
7654: 34-27-4