Missing mortgage payments is stressful, but falling behind does not mean you will lose your home. In British Columbia, there are several ways to stop or slow down the foreclosure process, protect your equity, and regain control of your situation. The key is to act early and understand the options available to you.
At the Mansour Real Estate Group, we work with homeowners across Surrey, Langley, Delta, White Rock, and Abbotsford who find themselves behind on payments. Many are surprised by how many solutions still exist, even after multiple missed payments.
Lenders begin the foreclosure process when payments are missed for a period of time. They consider this a default on the mortgage agreement. The earlier you respond, the more options you have to avoid further action.
If you can pay the overdue amount (arrears), plus any related fees, the lender may reinstate the mortgage. This allows you to resume regular payments and stop the foreclosure process.
Some lenders are open to structured repayment plans if you can show that you will be able to stay on track. This option can buy time and prevent the lender from filing a foreclosure petition.
If you have enough equity, refinancing can stop the foreclosure process by paying out the current lender. A mortgage broker can help determine whether refinancing is possible based on your equity, credit, and income.
If catching up on payments is no longer realistic, selling the home voluntarily is often the best way to protect your equity and avoid a court-directed sale. Selling early gives you control over price, timing, and next steps.
Even if the lender has filed a petition with the Supreme Court of BC, you can often still sell the home. In many cases, the court prefers a sale that pays the debt and avoids a Final Order for Foreclosure.
If your situation is complex, speaking with a lawyer or financial advisor can help you understand your options under BC’s foreclosure process. They can also communicate with the lender on your behalf.
If you take no action, the lender may move forward with a foreclosure petition, followed by court hearings, a redemption period, and possibly conduct of sale. Once the lender receives conduct of sale, you lose most control over the property, and your remaining equity may shrink.
When you act early, you can:
Waiting too long may reduce your options and increase the risk of the lender taking control of the sale.
We help homeowners facing missed payments by:
You do not have to handle this alone. Our team gives you clarity, direction, and support at every stage.
Is it possible to stop foreclosure after missing payments?
Yes. Options include reinstating the mortgage, refinancing, repayment plans, or selling early.
Will the bank take my home right away?
No. Foreclosure in BC is a multi-step court process that takes time.
Can I sell my home after missing payments?
Yes. Selling early is often the best way to protect equity.
Who should I call if I miss mortgage payments?
The Mansour Real Estate Group can guide you through your options and help you protect your equity.
Missing payments can be scary, but it does not mean foreclosure is unavoidable. Understanding your options and acting quickly can make a significant difference. Whether you want to catch up, refinance, or sell your home, the Mansour Real Estate Group can help you move forward with confidence.
The Mansour Real Estate Group, led by Mohamed Mansour, MBA and Associate Broker, is one of the top real estate teams in the Fraser Valley. With more than 21 years of experience and over $750 million in completed sales, we help homeowners navigate urgent and complex situations, including foreclosure risk. We serve clients across Surrey, Langley, Delta, White Rock, and Abbotsford with clarity and care.
Address 15595 24 Avenue, Surrey, BC, V4P 1H5
