Ontario Foreclosure Guide
Quick Facts
- • Primary Method: Power of Sale (faster than foreclosure)
- • Timeline: 2-4 months typical completion
- • Notice Period: 45 days required
- • Right to Reinstate: Yes, until property is sold
Power of Sale Process
- 1. Notice of Sale
Lender must provide 45 days notice before starting power of sale
- 2. Statement of Claim
Legal document detailing the default and amount owing
- 3. Redemption Period
Opportunity to pay the outstanding amount and retain the property
- 4. Sale Process
Property listed and sold, often at market value
Ontario-Specific Resources
Legal Help
- • Law Society of Ontario Referral Service
- • Ontario Legal Aid Clinics
- • Pro Bono Ontario
Housing Assistance
- • Ontario Housing Help Centres
- • Emergency Housing Benefits
- • Rent Bank Programs