Zondo answered
PropTrust’s mortgage dragon
mortgage distress
I got a notice of sale from my lender in Ontario. How long do I have?
Ontario gives you 35 days from the notice. During that window, you can either reinstate (pay arrears + legal costs to bring the loan current) or redeem (pay the full balance to discharge the mortgage). Reinstating is usually 2–5% of what redeeming costs. Past 35 days, the lender can list and sell.
What your bank didn’t say
Your lender will not volunteer their hardship program — you have to ask for it by name. Every Big 6 has Skip-a-Payment, Term Extension, or Capitalize-Arrears available to current and recently-arrears accounts. They wait for you to ask. Earlier conversations get better terms.
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More on mortgage distress
PropTrust is a Canadian property data platform. We are not a lender, broker, real estate agent, landlord, or paid advisor. This is information about how the rules work — not advice on your specific situation. For that, talk to a licensed professional.