Foreclosure can feel overwhelming, but homeowners in British Columbia have several ways to avoid it. Whether you want to keep your home, save your credit, or protect your equity, there are steps you can take before the process goes too far.
The Mansour Real Estate Group works with homeowners across Surrey, Langley, Delta, White Rock, and Abbotsford who want to avoid foreclosure and understand the solutions available to them. Many people have more options than they realize, especially when they act early.
You can stop foreclosure by paying the past-due amount, plus any fees, and returning the mortgage to good standing. This is called reinstating the mortgage.
Some lenders allow repayment plans that stretch out the arrears over time. This option works best when your income is steady but you need some breathing room.
If you have enough equity, refinancing with a new lender may pay out the existing mortgage and stop the foreclosure process. A mortgage broker can help determine if this is possible.
If keeping the home is no longer realistic, selling before the lender or court takes control often protects the most equity. A voluntary sale gives you control over price, timing, and marketing.
Even after the lender files a petition in the Supreme Court of BC, you may still request permission to sell the property. Courts often approve sales that repay the mortgage and avoid Final Order for Foreclosure.
A lawyer or financial advisor can explain your rights and obligations under BC law. They can help negotiate with the lender or challenge certain steps in the process.
Depending on your financial situation, you may qualify for temporary payment relief. These programs change from time to time and can give you short-term help while you plan your next steps.
If multiple owners are involved, selling the home together may reduce stress and preserve more equity than allowing the court to handle the sale.
Every stage of foreclosure reduces your options. The earlier you respond, the more control you keep and the greater the chance of:
We help homeowners understand their options by offering:
There is no pressure. Our role is to give you clarity and the best next steps.
Can I stop foreclosure even after it starts?
Yes. Many homeowners refinance, reinstate the mortgage, or sell before the process reaches the final stages.
Is selling my home a good option?
Selling early is often the best way to protect your equity and avoid a court-directed sale.
Will the lender work with me?
Many lenders are open to repayment plans or temporary solutions.
Who should I contact first?
A realtor, mortgage broker, and lawyer can all help you understand your choices. The Mansour Real Estate Group works alongside these professionals to support your next steps.
Foreclosure is not inevitable. With the right information and a clear plan, many homeowners avoid it entirely. Whether you want to keep your home, refinance, or sell before the court becomes involved, the Mansour Real Estate Group can help guide you with clarity and respect.
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 across Surrey, Langley, Delta, White Rock, and Abbotsford.
Address 15595 24 Avenue, Surrey, BC, V4P 1H5
