I’ve missed a few mortgage payments and am facing foreclosure. What do I do?

Foreclosure is a court process where the lender tries to take the property you mortgaged because you haven’t paid your mortgage.

When you miss a payment, your lender may send you a reminder letter immediately. If they don’t hear from you or don’t receive the missed payment after that, they will send you a demand letter. In BC, the lender must send you a demand letter before going to court to ask for foreclosure.

Helpful resources

• Foreclosure (People’s Law School): This describes the foreclosure process and what you can do if a lender starts to foreclose on your mortgage.
• Can’t Pay Your Mortgage? What You Can Do If You’re Facing Foreclosure (Legal Aid BC): This booklet is 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. It includes where to get required court forms online and instructions to complete them.
• Consumer and Debt Law (People’s Law School): This provides information for advocates whose clients are facing foreclosure. The chapter “Mortgages and foreclosure” 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.

Helpful services

• Lawyer Referral Service (Access Pro Bono): You can have a free, brief initial consultation with a lawyer to determine your legal needs. If you’d like further help from your lawyer, you can retain them at a rate you both agree to.
• Debt help (Credit Counselling Society): This provides free credit counselling, low-cost debt solutions, and education to help you manage your money and get out of debt.
• Find more services.