Receiving a notice of sale from your lender can be terrifying, but it doesn’t mean you’re out of options. If you’re a Hamilton homeowner facing missed payments, legal letters, or foreclosure threats, acting fast can make all the difference. With the right mortgage broker, you can stop the power of sale, protect your equity, and keep your home.
What Is a Power of Sale in Ontario?
A power of sale is a legal process that allows lenders to sell your property after you default on your mortgage. It’s not a foreclosure, it’s faster, giving homeowners less time to act.
Once the process begins, legal fees, arrears, and penalties accumulate quickly, reducing your remaining equity.
The good news? If you intervene early, a broker can help you refinance or secure a short-term loan to stop the sale before it happens.
How a Mortgage Broker in Hamilton Can Help
A specialized mortgage broker has direct relationships with alternative lenders who can fund urgent cases quickly. They can:
- Refinance your existing mortgage to cover arrears
- Arrange a second mortgage to pay missed payments and legal costs
- Stop legal action by paying the lender directly
- Protect your credit score and your home equity
Burke Financial, for example, often secures approvals within 24–48 hours for homeowners in time-sensitive power of sale situations.
Real Hamilton Success Story
Mike from Stoney Creek was two months behind on his payments and received a notice of sale. Within three days, Burke Financial arranged a refinance that paid off his arrears and legal fees. The process stopped immediately, saving Mike’s home and protecting over $180,000 in equity.
Steps to Stop a Power of Sale in Hamilton
- Act Immediately: Contact a mortgage broker as soon as you receive the notice.
- Gather Documents: Mortgage statement, arrears letter, and property value.
- Apply for a Refinance or Second Mortgage: Alternative lenders can approve quickly.
- Pay Off the Arrears: Once paid, the lender stops the legal process.
Common Mistakes to Avoid
- Waiting too long to seek help.
- Ignoring calls or letters from the lender.
- Applying only to major banks.
- Not understanding how legal costs grow daily.
Final Tip:
If you’ve received a power of sale notice in Hamilton, act now. The sooner you connect with a broker, the more equity and options you’ll preserve. Need to stop a power of sale in Hamilton? Let’s help you keep your home.
📞 1-866-702-9394
🌐 www.burkefinancial.ca
