Got a Notice of Sale?
You may still have time
to stop the power of sale.

Realistically, one to two weeks on most private files. When title is clean, the appraisal comes back quickly and the lender is straightforward, private funding can sometimes close in a few days. A written commitment can come sooner, but nothing is guaranteed until your lawyer releases the funds.

Usually, once they are paid out in full or agree to a reinstatement (the arrears plus their costs). A new lender's commitment on its own doesn't oblige them to stop, so the goal is to get the payout funded before the sale is firm. We coordinate with both lawyers, but no outcome is guaranteed.

Private rates are typically 8–12% interest + 1–2% lender fee + 1–2% broker fee. Ranges are illustrative and vary by file; see our private mortgage rates page for how pricing is set. Compare the cost to losing your home and equity at a forced sale, which is permanent. Every fee is disclosed in writing before you sign.

It gets much harder once the redemption window closes, but it isn't always over. Until the property is actually sold (a firm, binding agreement of purchase and sale), a full payout can sometimes still redeem it, and a lender may agree to hold off if funding is close. The lesson is the same: call the day the notice arrives, not the week of the sale, because your options narrow fast.

To reinstate you pay the arrears (the missed payments) plus the lender's costs incurred so far: accrued interest, legal fees and any enforcement costs. Early in the redemption window that can be just a few payments and modest legal fees; closer to the sale it grows as legal and realtor costs pile up. That's why timing is the single biggest factor in what this costs you.

Yes. Missed mortgage payments and an enforcement/default are reported to the credit bureaus and can lower your score for some time, which affects future borrowing. Stopping the sale and getting the mortgage current limits the damage; we also coach your credit recovery so you can refinance back to a mainstream lender afterward.

Yes. Until the lender completes its own sale you generally still hold title and can sell the home yourself. Selling on your own terms often preserves more equity than a lender's forced sale, because you control the price, timing and agent. A bridge can also buy the breathing room to sell properly rather than in a hurry. We'll help you weigh selling versus refinancing to keep the home.

Honest answer: very difficult. We may be able to negotiate a partial settlement with your lender (a workout) or refer you to credit counselling. We tell you straight, with no false hope.

Not from us: we never contact your employer. The Notice of Sale goes to you and to others with a registered interest in the property, not to your employer. If the process reaches a sale, the home is usually listed publicly and the transfer is registered on title, which is why stopping it early keeps it private.

No. Ontario lenders normally use power of sale: an out-of-court process with a Notice of Sale and at least 35 days before any sale. Foreclosure is a court process in which the lender can end up owning the property; it is the usual route in Alberta and British Columbia and is rare in Ontario. See the comparison table above.

A bad year isn't an automatic no. Private lenders focus mainly on your equity and the exit plan rather than this year's income, although they still want to see how the payments will be made and how you'll refinance out.

Your lender sells your home, pays itself plus legal and realtor fees, and any surplus is paid out after that (often little or nothing is left). If the sale doesn't cover what you owe, the lender can pursue you for the shortfall. Don't wait.