Time-sensitive
Mortgage Arrears, Deadlines, and Urgent Situations
When there is a deadline attached, time is the scarcest resource. The earlier a situation is reviewed, the more options tend to remain.
Takes about two minutes. No obligation. No judgment.
Licensed in Ontario
Phil Cragg, Mortgage Agent, Licence #11000073 · Mortgage Outlet Inc., Brokerage #12628
Confidential by design
No credit check to start, and no documents requested through this website.
15 years, across Ontario
Office in Toronto. Clients across the province served by phone, video, and secure document handling.
What this actually means
Urgent mortgage situations usually have a fixed date attached, and that date determines what is possible. Options narrow as it approaches, which is why the first call matters more than the perfect call.
A brokerage can review whether refinancing, alternative financing, or private financing could resolve or postpone the immediate issue, and what each would cost.
A brokerage cannot provide legal advice, stop enforcement proceedings, or negotiate on your behalf in a legal process. Where there is a court deadline or enforcement action, independent legal advice should be obtained promptly — in parallel, not afterward.
Situations we see most often
- You have missed mortgage payments and received a notice.
- A closing date is approaching and your financing has fallen through.
- Property tax or condo fee arrears have been registered against the property.
- You have received a demand letter or power of sale notice.
- Your mortgage matures within weeks and no renewal has been arranged.
Possible pathways and their trade-offs
Refinance to clear arrears
Where equity and qualification allow, refinancing can bring the mortgage current and reset the situation.
Trade-off: Costs apply, and arrears may limit which lenders will consider the file.
Short-term private financing
Can resolve an immediate deadline where institutional financing cannot move quickly enough.
Trade-off: High cost and short term. Only appropriate with a realistic plan for repaying it.
Sale or legal advice
Sometimes the most suitable path is an orderly sale, direct negotiation with the lender, or advice from a lawyer or licensed insolvency trustee.
Trade-off: May not preserve ownership, and falls outside a brokerage's scope.
Documents usually involved
Nothing is uploaded through this website. Documents are only requested later, through an approved secure process.
- Any notices, demand letters, or court documents received, and their dates
- Current mortgage statement including arrears amount
- Property details and value information
- Proof of income, where available
- Details of any other charges registered on the property
Costs and compensation
Before you go further
Questions about this situation
Can you stop a power of sale?
No. A mortgage brokerage cannot stop legal proceedings. It can review whether financing may be available to resolve the underlying arrears within the available time. Independent legal advice should be obtained promptly.
How quickly can financing be arranged?
It depends on the lender, property, documentation, and legal steps required. No timeline can be promised in advance, and anyone promising one has not seen your file.
Is it too late if I have already received a notice?
Not necessarily — but the available options generally narrow as deadlines approach. The most useful step is to have the situation reviewed now rather than later.
Related situations
Private Mortgage Solutions
Short-term, equity-based financing for specific situations — reviewed honestly, including the exit.
Mortgage Renewals
Review renewal options early — especially when income, credit, or the household has changed.
Mortgage Refinancing
Restructure an existing mortgage to access equity, consolidate obligations, or change terms.
Information on this website is general in nature and is not a commitment to lend, an approval, legal advice, tax advice, or financial advice. Mortgage availability, rates, terms, fees, and approval depend on the applicant, the property, lender requirements, market conditions, and applicable law. An application and supporting documents may be required.