Allows for sending of the notice under power of sale and rights of active military servicemembers by USPS First Class Mail and/or an overnight delivery service, instead of by USPS certified mail return receipt requested.

Summary

If enacted, this bill would allow mortgage servicers to send notices of power of sale and rights of active military servicemembers via USPS First Class Mail or an overnight delivery service, instead of the current requirement for USPS certified mail with return receipt requested. This change streamlines foreclosure notification procedures while still providing proof of delivery. The bill affects all residential mortgage servicers and lenders conducting foreclosures in Rhode Island.