06/23/2026
If you’re behind on your mortgage, you may have heard the term “Power of Sale” - but there’s a lot of confusion about what it actually means.
Here’s a simple breakdown 👇
🏠 WHAT IS POWER OF SALE?
It’s when your lender sells your home in order to recover missed mortgage payments.
❗ COMMON MISCONCEPTIONS
Many people think:
❌ The bank immediately takes ownership
❌ You lose your home right away
That’s not how it works.
✅ THE REALITY
You still OWN your home until it is officially sold.
If the property sells for more than what you owe:
💰 You receive the remaining balance after the mortgage is paid off
⚡ WHY THIS MATTERS
Power of Sale is generally faster than foreclosure and is the most common process used in Ontario.
If you’re behind on payments, understanding how this works early can give you more time and more options.
⏳ NEED HELP UNDERSTANDING YOUR SITUATION?
Every case is different, and timing matters.
Send a message today to talk through your options.