Foreclosure in British Columbia runs through the Supreme Court, and it is slower and more structured than most homeowners fear. A missed payment does not put your house on the market. A lender that has not been paid first demands payment, then files a petition in court, and the court supervises what happens after that.
The usual sequence is a demand letter, a petition served on the owner and anyone else registered on title, then an order nisi of foreclosure that sets a redemption period. Six months is common, though a shorter one can be granted where there is little equity. During redemption the owner can pay the mortgage out, refinance, or sell. If the redemption period passes, the lender applies for conduct of sale or an order absolute, and a sale generally has to be approved by the court.
What matters most is how early you get advice, because the options narrow at each stage. We act for homeowners trying to keep a property or sell it on their own terms, and for private lenders who need a mortgage enforced.
What we help with
- Your options after a demand letter, a notice of default or a filed petition
- Responding to a foreclosure petition and asking the court for more time
- Redemption periods, payout figures and reinstating a mortgage in arrears
- Selling the property during foreclosure, including applications for conduct of sale
- Second mortgages, private lenders and priority between registered charges
- Claims to surplus funds after a sale, and deficiency claims where the sale falls short
- Acting for lenders: petitions, order nisi, conduct of sale and approval of sale
How it usually works
- 01
Find out where in the process you are
Your options and your deadlines depend on whether a petition has been filed and whether an order nisi has been made. That is the first thing we establish.
- 02
Look at the numbers honestly
Arrears, the full payout figure, the equity in the property and what it would sell for today. Those four numbers usually decide whether to fight, refinance or sell.
- 03
Buy time, or sell on your own terms
That can mean negotiating with the lender, asking the court for a longer redemption period, or listing the property yourself, which generally achieves more than a sale run by the lender.
Related services
- Debt RecoveryRecovering money you are owed and enforcing judgments, or defending a debt claim.
- Property DisputesDeals that fall apart, deposits in dispute, and disagreements between co-owners or neighbours.
- Refinancing & MortgagesRegistering a new mortgage, switching lenders or taking equity out of a property.Real Estate Conveyancing