What Rights Do I Have to Redeem My Mortgage After a Notice of Sale in Ontario?

You can generally stop a lender from enforcing the acceleration clause by paying the arrears and the lender's necessary expenses, not money that is only due later. This applies despite any agreement to the contrary.

Timing matters. The lender cannot sell until at least 35 days after the notice is given. If the mortgage has no power of sale clause, the statutory power of sale applies only after three months' default and requires 45 days' notice. Once the power of sale closes, section 22 no longer applies and you are limited to a claim for damages against the lender.

You can also ask the lender in writing for a statement of the arrears and expenses; it must answer within 15 days, and if it fails to do so without reasonable excuse, or gives an incomplete or incorrect answer, its enforcement rights are suspended until it complies. A spouse who does not own the matrimonial home but has a right of possession has the same right of redemption or relief against forfeiture as the owner-spouse and is entitled to the same notice. The exact figure depends on your mortgage, so ask for it in writing and speak to a lawyer quickly.