Can I Give My House Back to the Bank in Rhode Island Without an Expensive Foreclosure?

Falling behind on mortgage payments can feel overwhelming — especially when the threat of foreclosure starts looming over your family and future. If you're facing financial hardship, you might be wondering: “Can I give my house back to the bank in Rhode Island without going through an expensive foreclosure?”

The answer is: yes — but there are better options that can protect your credit and your peace of mind.

Let’s break it down.

Understanding Foreclosure in Rhode Island

Foreclosure is the legal process your lender uses to take back your home if you default on your mortgage. It’s time-consuming, public, and expensive — and it leaves a long-lasting mark on your credit report.



If you’re hoping to avoid foreclosure in Rhode Island, you’re not alone. Many local homeowners are seeking ways to walk away from their homes without financial ruin.

Giving the House Back: The “Deed in Lieu of Foreclosure”

One option is a deed in lieu of foreclosure — this is when you voluntarily transfer ownership of your home to the lender in exchange for being released from your mortgage obligation.

Pros:

• May prevent a formal foreclosure
  
• Could reduce what you owe
  
  

Cons:

• Still damages your credit
  
• Bank may reject it if there are multiple liens or unpaid taxes
  
• You walk away with nothing
  
  

This option is better than a full foreclosure — but there’s another path many homeowners don’t realize they can take: selling the home quickly for cash.

A Faster, Smarter Way: Sell Your House for Cash Before Foreclosure

Instead of surrendering your house, you can sell your house fast in Rhode Island to a local cash buyer and walk away on your terms.

At RPS Property Solutions, we specialize in helping homeowners like you stop foreclosure in Rhode Island with a quick, hassle-free home sale. There’s no need to clean, repair, or wait on buyer financing. We buy houses as-is and work on your timeline.

Why Cash Buyers Are a Lifeline for Rhode Island Homeowners

Choosing to work with local house buyers in Rhode Island like us gives you:

• A fair, no-obligation cash offer
  
• No commissions, fees, or closing costs
  
• A fast closing (as little as 7 days)
  
• Help navigating foreclosure timelines
  
• Peace of mind knowing your credit is protected

We’ve helped countless homeowners who were behind on payments, dealing with divorce, job loss, probate, or simply needed to sell their house for cash in Rhode Island fast.

We Buy Houses in Rhode Island – No Matter the Situation

Whether you're in pre-foreclosure or just trying to avoid the stress of legal action, RPS Property Solutions is here to provide Rhode Island foreclosure help with compassion and professionalism.

We buy houses in any condition — even if you’re days away from losing it to the bank.

Final Thoughts

So, can you give your house back to the bank in Rhode Island without an expensive foreclosure? Yes, but before you hand over the keys, consider all your options. A cash sale could give you the fresh start you’re looking for — without the long-term damage to your credit or finances.

Ready to Talk?

If you're facing foreclosure or falling behind on payments, don’t wait. Contact RPS Property Solutions today. We’ll give you a fair offer, help you understand your options, and move quickly so you can breathe easier.

👉 Call us or fill out our short form to get started today.
RPS Property Solutions — the trusted cash home buyers Rhode Island homeowners count on.