Receiving a foreclosure demand letter can feel overwhelming. For many homeowners in British Columbia, it is the first formal sign that the lender plans to start the foreclosure process if missed payments are not resolved. While the letter may feel alarming, you still have options. With the right steps, you can protect your home, your equity, and your next move.
The Mansour Real Estate Group has helped homeowners across Surrey, Langley, Delta, White Rock, and Abbotsford understand their choices and take action before the foreclosure process goes too far. Most people have more control than they realize, especially when they act quickly.
A foreclosure demand letter is a formal notice from your lender telling you:
In BC, lenders normally send this letter before filing a foreclosure petition in the Supreme Court of British Columbia. It is a warning, not the final step.
Note the total amount owing and the deadline to pay. These dates matter because lenders may start legal action once the deadline passes.
Many lenders are open to discussing repayment plans or temporary arrangements. Reaching out early can slow down the foreclosure timeline.
Decide whether catching up on payments is realistic. This helps you choose the most effective path forward.
You may want to consult with:
You pay the arrears and resume your normal payments. This often stops the process if the lender agrees.
If you have equity, a new lender may be willing to pay out your current mortgage and reset your terms.
Selling early often protects your equity and prevents deeper court involvement. You control the price, the timing, and the process.
Even if your lender files a foreclosure petition, you can still sell the property with the court’s permission. The court often prefers a sale that repays the debt and avoids further steps.
Some lenders accept structured repayment plans if you can show that the plan is realistic and sustainable.
Once the lender files a petition, the case moves through the court. If the lender eventually receives “conduct of sale,” they or the court will control the listing, the marketing, and many of the decisions.
That can result in:
Selling early can help you:
We guide homeowners through foreclosure risk situations with a clear and calm plan that may include:
There is no pressure. The goal is to give you real options and a way forward.
Should I ignore a foreclosure demand letter?
No. Ignoring the letter allows the process to move ahead faster.
Can I still sell my home after receiving the letter?
Yes. Many homeowners choose to sell early to protect their equity.
Does the bank take my home right away?
No. Foreclosure in BC is a court process. A demand letter is only the first step.
Who should I call if I get a demand letter?
The Mansour Real Estate Group, led by Mohamed Mansour, has helped many homeowners handle foreclosure-risk sales across the Fraser Valley.
A foreclosure demand letter is stressful, but you still have time and choices. Whether you want to explore refinancing, catch up on payments, or sell before things go further, you do not have to handle it alone. The Mansour Real Estate Group can guide you through each step with clarity and respect.
The Mansour Real Estate Group, led by Mohamed Mansour, MBA and Associate Broker, is one of the top performing real estate teams in the Fraser Valley. With more than 21 years of experience and over $750 million in completed sales, we are trusted for sensitive and time critical transactions, including foreclosure-risk and distressed property sales. We serve homeowners across Surrey, Langley, Delta, White Rock, and Abbotsford with clear guidance and proven results.
Address 15595 24 Avenue, Surrey, BC, V4P 1H5
