Ontario is Canada's fastest enforcement jurisdiction. Nearly every Ontario mortgage contains a power of sale clause letting the lender sell your home WITHOUT going to court. From first missed payment to a completed sale can be as little as three months. In Ontario, speed of response is everything.
Ontario lenders can legally issue notice after a single default of 15+ days. Most wait for 2-3 misses, but they don't have to.
The formal power-of-sale trigger. After service, a statutory 35-day (or 45-day) waiting period runs. You can still redeem during this window by paying arrears + costs.
After the notice period, the lender lists the property — usually with a realtor at close-to-market price (they have a duty to get fair value, but their incentive is speed).
Sale closes; if you're still in the home, the new owner or lender obtains a writ of possession.
Sale proceeds pay the lender's debt and costs first. Surplus goes to you; shortfall can become a deficiency claim against you.
Enter your numbers, see what you'd walk away with under foreclosure vs. private sale vs. refinance.
Every term in this guide (order nisi, redemption, power of sale) explained in plain English.
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