If you have received a Notice of Sale, you still have options. Acting quickly is what protects your equity. Here are the main ways Ontario homeowners stop a power of sale and keep control of their property.
Bring the mortgage current
During the redemption period you can stop the process by paying the arrears, plus the lender’s costs, to reinstate the mortgage. If you can cover the shortfall, this is often the simplest path.
Refinance or arrange private financing
If you cannot pay the arrears outright, replacing or restructuring the defaulted mortgage with new financing — including private or alternative lenders who move quickly — can pay out the lender and halt the sale. This is one of the most common ways to rescue a property when banks have said no.
Sell on your own terms
If keeping the home is not realistic, selling it yourself before the lender does usually preserves far more of your equity than a lender-led sale. A broker can help you move quickly while the redemption window is open.
Why timing matters
Every option gets harder once the lender has signed a sale agreement. The earlier you get advice after a Notice of Sale, the more leverage you have to protect your equity.
How Gurpinder Gaheer can help: Stop a Power of Sale · Book a free 30-minute consultation
Leave a Reply