A power of sale is one of the most stressful situations a homeowner can face. In Ottawa, receiving a Notice of Sale means your lender is starting the legal process to sell your home if arrears aren’t paid, sometimes giving you as little as 35 days to act.
The good news? A mortgage broker can help you stop it quickly and protect your home.
What Is a Power of Sale in Ottawa?
A power of sale allows a lender to sell your home to recover missed mortgage payments. While you still own the property during this process, time is limited to stop the sale before it’s too late.
Why Ottawa Homeowners Receive a Notice of Sale
Common causes include:
- Missed mortgage payments due to job loss or illness
- Unexpected expenses or emergencies
- High debt load making it difficult to keep up with payments
- Divorce or separation impacting income
How a Mortgage Broker Can Stop a Power of Sale
Mortgage brokers have access to alternative lenders who:
- Approve based on home equity, not just credit score
- Offer home equity loans or second mortgages to cover arrears
- Can approve funding within 24–48 hours in urgent cases
Steps to Take After Receiving a Notice of Sale
- Contact a Mortgage Broker Immediately – Every day counts
- Gather Key Documents – Mortgage statement, Notice of Sale, ID, proof of income
- Review Your Equity – Determines how much you can borrow to stop the sale
- Close Quickly – Funds go to your lawyer to pay arrears and end the process
Real Ottawa Success Story
Nadia from Nepean fell behind on her mortgage after a medical emergency. With just 18 days left before her home was listed, Burke Financial secured a second mortgage within 48 hours, paying off her arrears and stopping the power of sale.
Final Tip: If you receive a Notice of Sale in Ottawa, your home equity could be the lifeline you need, but only if you act fast.
Facing a power of sale in Ottawa? We can stop it before it’s too late.
📞 1-866-702-9394
🌐 www.burkefinancial.ca
