Common Questions

I’ve missed a few mortgage payments and am facing foreclosure

As soon as a mortgage payment is missed, most lenders act quickly. They often send a reminder letter first. If they don't hear from you or don't receive the missed payment after that, their next step is to send you a demand letter. In BC, the lender must send you a demand letter before going to court to ask for foreclosure. Foreclosure is a court process where the lender tries to take your property because you haven't paid your mortgage.

Good starting points include:

  • Can't Pay Your Mortgage? What You Can Do If You're Facing Foreclosure, from the Legal Services Society, is a booklet for homeowners who can’t make their mortgage payments, or have received a Petition to go to court. It explains what homeowners can do during foreclosure, and lists agencies that can help. Includes where to get required court forms online and instructions to complete them.
  • Foreclosure, from the Canadian Bar Association BC Branch, describes the foreclosure process and what you can do if a lender starts to foreclose on your mortgage.
  • Consumer Law and Credit/Debt Law: A Guide for British Columbia, from the Legal Services Society, has information for advocates whose clients are facing foreclosure. See the chapter on "Foreclosure and mortgages," which includes strategies for solving the problem by reinstating or redeeming the mortgage, as well as tips for safeguarding the borrower's rights during the foreclosure process.

See our related common questions:

Last reviewed November 2016

foreclosure, mortgage, missed mortgage payments