
In the world of Canadian real estate, financial problems can create stress, especially regarding mortgage payments. When a homeowner struggles to keep up with their mortgage, lenders may take legal steps such as Power of Sale or Foreclosure to get their money back. This blog post will clarify these two processes. It will point out their key differences and show how they work in the Ontario real estate market. Knowing about these processes is a good first step for handling tough situations and making smart choices.