Defaulting on a mortgage in British Columbia usually happens when you miss payments and fall behind on your loan. While the situation feels serious, it does not mean the lender will take your home right away. BC uses a court-managed process, which gives homeowners several chances to fix the problem or protect their equity through a sale.
The Mansour Real Estate Group helps homeowners across Surrey, Langley, Delta, White Rock, and Abbotsford understand what mortgage default means, what steps follow, and how to take control before the lender or court does.
Your mortgage agreement requires that you make payments on time. When payments are missed, you are considered “in default.” This gives the lender the right to start enforcement steps, which may eventually include foreclosure.
Default can be triggered by:
Lenders usually send reminders and warnings when payments are overdue. This may include phone calls, emails, or formal letters.
If the missed payments continue, the lender sends a demand letter. This letter explains:
You can still reinstate the mortgage or negotiate payment options at this point.
If arrears remain unpaid, the lender files a foreclosure petition in the Supreme Court of British Columbia. This officially starts the court process. You will receive notice of the petition and court dates.
The first major court order is called the Order Nisi. It confirms how much is owed and sets the redemption period. This is the time the court gives you to pay the debt or otherwise resolve the mortgage.
During the redemption period, you can:
If the mortgage is not fixed in time, the lender may ask the court for conduct of sale. Once granted, the lender or court controls how the property is listed, marketed, and sold.
Homeowners lose most control at this stage.
Once a buyer makes an offer, it must be approved in court. If no sale takes place, the lender may ask the court for a Final Order for Foreclosure, which transfers ownership to the lender.
Many homeowners think default means the home cannot be sold, but in BC, selling early often protects more equity and prevents a forced sale.
We help by:
Our goal is to help you stay in control and move forward with a clear plan.
Does default mean I will lose my home?
Not right away. The process includes several steps where you can still act.
Can I sell my home after defaulting?
Yes. Selling early is one of the best ways to protect your equity.
How long do I have after defaulting?
BC uses a court-managed timeline, giving homeowners multiple opportunities to fix the issue or sell.
Who can help if I default on my mortgage?
The Mansour Real Estate Group helps homeowners make informed decisions during default and foreclosure risk.
Mortgage default is serious, but it does not mean you are out of options. The earlier you act, the more control you have over your home and your finances. Whether you want to catch up, refinance, or sell before things go further, the Mansour Real Estate Group can guide you with clarity and care.
The Mansour Real Estate Group, led by Mohamed Mansour, MBA and Associate Broker, is a top performing real estate team with more than 21 years of experience and over $750 million in completed sales. We specialize in urgent and complex situations, including foreclosure risk and distressed property sales. We help homeowners across Surrey, Langley, Delta, White Rock, and Abbotsford protect their equity and move forward confidently.
Address 15595 24 Avenue, Surrey, BC, V4P 1H5
