Rhode Island General Laws 5-79-5. Waiver not allowed
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Any waiver by an owner of the provisions of § 5-79-1 — § 5-79-9 is void and unenforceable as contrary to public policy. Any attempt by a foreclosure consultant to induce an owner to waive the owner’s rights is a violation of § 5-79-1 — § 5-79-9.
History of Section.
P.L. 2006, ch. 242, § 1; P.L. 2006, ch. 287, § 1.
Terms Used In Rhode Island General Laws 5-79-5
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Owner: means the record owner of the residential real property in foreclosure at the time the notice of pendency was recorded, or the summons and complaint served. See Rhode Island General Laws 5-79-1