How to Stop Power of Sale in Ontario: Your Options as a Homeowner

Facing a power of sale notice can feel overwhelming. Many Ontario homeowners believe that once the process starts, there’s nothing they can do — but that isn’t always true.

Depending on your situation and timing, there may still be legal and financial options available to help stop, delay, or resolve a power of sale before your home is sold.

This guide explains:

• What power of sale means in Ontario
• How the process works
• What steps may help stop or prevent a sale
• When to act to protect your options

What Is Power of Sale in Ontario?

Power of sale is a legal process that allows a lender to sell a property when the homeowner has defaulted on their mortgage.

Unlike foreclosure, the lender does not take ownership of the property. Instead, they sell it to recover the outstanding debt.

In Ontario, power of sale is more common than foreclosure and follows specific legal timelines.

How the Power of Sale Process Works

While timelines vary, the process generally follows these steps:

1. Mortgage Default
   • Missed payments or breach of mortgage terms
2. Notice of Sale Issued
   • Typically sent after 15 days of default
3. Redemption Period
   • Usually 35–45 days to bring the mortgage back into good standing
4. Property Listed for Sale
   • If unresolved, the lender can list the home

Once the property is sold, stopping the process becomes extremely difficult.

Can Power of Sale Be Stopped in Ontario?

In many cases, yes — but timing matters.

The earlier you act, the more options you may have.

Some homeowners wait too long because they are:

• Unsure who to trust
• Afraid of making the wrong decision
• Hoping the problem resolves itself

Unfortunately, waiting often reduces available solutions.

Options That May Help Stop Power of Sale

Every situation is different, but depending on your circumstances, the following options may be available:

1. Bringing the Mortgage Back Into Good Standing

If possible, paying arrears, penalties, and legal fees within the redemption period can stop the process.

This option works best when:

• The default is short-term
• Funds are available quickly

2. Refinancing or Restructuring the Mortgage

Some homeowners qualify for refinancing that:

• Pays off arrears
• Resets the mortgage
• Stops the sale process

However, traditional banks may decline applications if:

• Credit has been impacted
• Income has changed
• Time is limited

3. Second Mortgage or Alternative Financing

In certain cases, short-term or alternative financing may be used to:

• Clear arrears
• Stop the sale
• Buy time to stabilize finances

These solutions are often time-sensitive and should be reviewed carefully.

4. Selling the Property Strategically

If keeping the home isn’t feasible, selling before the lender does may:

• Protect remaining equity
• Avoid forced-sale pricing
• Reduce long-term financial damage

This option gives homeowners more control than a lender-led sale.

Common Mistakes Homeowners Make

Many homeowners unintentionally limit their options by:

• Ignoring notices
• Waiting too long to seek advice
• Relying on incomplete or generic information
• Assuming “no” from one lender means no options exist

Power of sale situations are highly specific — professional review matters.

When Should You Get Help?

If you have:

• Received a notice of sale
• Fallen behind on payments
• Been told “no” by a bank
• A looming sale deadline

It’s important to review your situation as early as possible.

Even if time feels tight, some solutions only exist before specific deadlines pass.

How We Help Ontario Homeowners Facing Power of Sale

At Centum Chartered Finance, we help Ontario homeowners understand:

• Where they are in the power of sale process
• What options may still exist
• What steps should (or shouldn’t) be taken next

Our role is to provide an honest, confidential assessment so you can make informed decisions — even if the answer isn’t what you hoped for.

Next Steps: Understand Your Options

If you’re unsure what to do next, the first step is clarity.

👉 You can request a confidential review of your situation to understand what options may still be available before making any decisions.

(No obligation. Ontario homeowners only.)

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