Stop Power of Sale
on Your Home

The fastest way to stop a power of sale in Ontario is to bring your mortgage current by paying the arrears, legal fees, and any other costs owed to your lender. Most homeowners do this by refinancing into a private mortgage, which pays off the defaulting lender in full and halts the power of sale proceedings. Private lenders can typically fund within 5 to 7 business days, which is usually fast enough to stop the sale as long as you act before the redemption period expires.

Yes. In Ontario, you have a redemption period (typically 35 days from the date of the Notice of Sale) during which you can stop the process by paying what you owe. A private mortgage refinance is usually the most realistic path to raise those funds quickly when your bank has already said no. The key is to contact us as soon as you receive the notice so we have time to arrange an appraisal, approval, and closing before your redemption period ends.

Most private mortgage approvals happen within 24 hours, and funding is typically completed within 5 to 7 business days. For urgent power of sale situations, we can often expedite the process and fund within 3 to 5 days. We prioritize power of sale files and coordinate directly with your real estate lawyer to hit your redemption deadline.

Private lenders focus on your property's equity, not your credit score or income. You generally need enough equity in your home (usually the combined loan-to-value ratio stays under 80 to 85%), a clear title, and a reasonable exit strategy (sell, refinance, or restore income). Past bankruptcies, consumer proposals, CRA arrears, and bad credit are not automatic disqualifiers.

You will need to cover the mortgage arrears, your existing lender's legal and administrative fees, a private lender fee (typically 1 to 2% of the new mortgage), broker fees, an appraisal, and your own legal fees. Interest rates on private mortgages generally range from 6.95% to 12.99%. These costs are almost always lower than losing your home to a forced sale below market value.

If you do nothing, your lender will sell your home, often below market value, and apply the proceeds to your mortgage balance, legal fees, and costs. Any remaining shortfall becomes a personal debt you still owe. Any surplus is returned to you, but in most cases there is little to no surplus once all fees are deducted. Acting quickly almost always leaves you in a stronger financial position than letting the sale proceed.

Yes. Private lenders approve based on your property's equity, so bad credit, CRA tax arrears, judgments, and collections do not automatically disqualify you. We have worked with many homeowners whose banks declined them for exactly these reasons. As long as there is enough equity in the home and a reasonable exit strategy, we can usually arrange financing.

Yes. While the legal process is called power of sale in Ontario and foreclosure in Alberta and Manitoba, the solution is the same: we arrange an emergency private mortgage to pay off the existing lender and stop the proceedings. We serve Toronto, the GTA, all of Ontario, Winnipeg, Manitoba, Calgary, Edmonton, and Alberta.