Toronto & Ontario · Confidential
Missing payments or receiving a power of sale notice is stressful, and far more common than people realize. Ontario's process has defined steps and timelines, and there is usually time to explore real options. Let's look at yours, calmly and privately.
Free first conversation · No credit check to start · No obligation
What's actually happening
In Ontario, most lenders use power of sale rather than foreclosure. Before a lender can sell, the Mortgages Act requires a formal Notice of Sale and a minimum waiting period, and in practice the full process usually takes months.
Until a binding sale agreement is in place, homeowners generally still have the right to bring the mortgage back into good standing or pay it out. Acting earlier simply keeps more of those doors open, it's about options, not panic.
See the general timelineNext steps
Find your latest mortgage statement and any letters from your lender. Note the dates on them, they matter more than anything else.
We'll talk about what's happening, your equity, your income, and what you'd like to happen. No credit check to start.
If you've received a Notice of Sale or Statement of Claim, a lawyer confirms your rights and deadlines. I work alongside them.
Refinance, private second mortgage, a plan with your lender, or a sale on your terms, with honest numbers for each.
Your options
Replace your current mortgage, including the arrears, with one from a different bank, credit union or alternative lender.
A short-term loan secured by your equity to bring your first mortgage current while you get back on track.
A repayment plan or deferral, negotiated directly. Often worth trying first, get it in writing.
When keeping the home isn't realistic, a voluntary sale usually preserves more equity than a forced one.
Quick answers
Power of sale is the process most Ontario lenders use when a mortgage goes into default. If the arrears aren't resolved, the lender can sell the property to recover what is owed, without going to court for ownership. Any money left over after the mortgage, costs and other debts registered on title are paid generally goes back to the homeowner.
With power of sale, the homeowner keeps legal title until the property is sold and is generally entitled to any surplus proceeds. With foreclosure, a court transfers ownership to the lender and the homeowner usually loses any equity. Foreclosure is rare in Ontario; power of sale is the standard route.
Under Ontario's Mortgages Act, a Notice of Sale generally can't be sent until a payment is at least 15 days overdue, and it must give at least 35 days before the lender can sell. In practice the whole process often takes several months, but every lender and situation is different, so check the dates on your notice with a real estate lawyer.
Often, yes, usually by bringing the mortgage back into good standing (paying the arrears plus allowed costs) or by paying it out through a refinance or sale before the lender sells. Whether that's possible depends on your equity, income, credit and how much time remains. No one can guarantee the outcome.
Same-day, confidential
Just a first name and a phone number. I'll reach out personally, usually the same day, to listen and walk through what's realistic. Prefer to text? Message 647-342-1355 any time.
Meshesha Robel, Mortgage Agent Level 2