Have to Sell Your Home Because You Are Behind on Payments?

Reach out to us at 647-495-4260 for a fair, all-cash offer, often within 24 hours. We buy as-is with no repairs, no open houses, and no commissions, and we can close in as little as 7 days or on your schedule, helping you settle with the bank and protect your credit.

Many Ontario lenders begin the power-of-sale process after roughly three to four missed payments, about 90 days in default, though it varies by lender and agreement. You'll usually receive default and demand letters first. Selling early, before formal action, protects your equity and credit. Check your specific mortgage terms with your lawyer.

Yes. Being behind doesn't stop you from selling, you remain the owner. At closing, your lawyer pays the lender the full balance plus arrears from the sale proceeds. We buy as-is and can close in as little as 7 days, helping you clear the arrears before the bank escalates to a power of sale.

In most cases, yes. If your home's value exceeds the mortgage balance plus missed payments and penalties, the sale clears everything and any surplus is yours. Your lawyer handles the payout at closing. Selling before the lender adds legal and power-of-sale costs usually leaves more equity in your pocket.

That depends on your finances. If catching up isn't realistic and the arrears keep growing, selling before the lender starts a power of sale often protects your equity and credit. If you can recover, reinstating may be better. We can give you a firm offer so you can compare, speak with your lawyer too.

Yes, and selling early is usually best. Acting before a Notice of Sale means fewer legal fees added to your balance and more time to close on your terms. We can provide a fair, all-cash offer within 24 hours and close in as little as 7 days. Call or text 647-495-4260.

Yes. Missed and late mortgage payments are reported to the credit bureaus and can lower your score, and a completed power of sale does further damage. Selling to bring the mortgage current before the lender escalates helps limit the harm and lets you rebuild sooner. Your lender can confirm what's already been reported.

No. You can sell while you're still behind. The outstanding balance, arrears, and any penalties are paid from the sale proceeds at closing through your lawyer, you don't need to catch up first. For many owners, that's the simplest way out when the payments have become unmanageable.

They're paid off at closing from the sale proceeds. Your lawyer requests a payout statement showing the balance, arrears, and any discharge penalty, then settles it all in one transaction. You walk away with any remaining equity and a clean slate, no separate payments to chase down afterward.

Yes. A demand letter is an early step, not the end, you're still the owner and can sell. Moving quickly after a demand letter often stops the process before a power of sale begins and preserves your equity. Send us the letter and we'll move fast; we can close in as little as 7 days.