Help With Mortgage Delinquency

Falling behind on your mortgage payments is stressful, and can happen to anyone. Use these resources to understand your options and protect your home.

Your questions, answered

What happens if you miss a mortgage payment?A missed mortgage payment doesn’t necessarily mean you’ll lose your house. Quick action is crucial to keep the situation under control.

Can you refinance a mortgage with bad credit?You can refinance your mortgage with less-than-perfect credit, but you'll probably need to turn to a B lender or private lender.

How do I get a more affordable mortgage payment?If your variable-rate mortgage payments are becoming too high to manage, options like payment deferrals and reamortizing can help keep you on track.

A guide to changing your loan or lender

Switching a mortgage from one lender to another is one way to get better terms, a lower interest rate or improve your repayment options.

FAQs about mortgage delinquency

Default, Delinquency and Arrears: What These Terms Mean

Missing a payment (delinquency) is one kind of default. Read more.

Foreclosure in Canada: How It Works and Steps You Should Take

Your lender can repossess your home if you miss mortgage payments. If you fall behind, communication is key. Read more.

Fixed vs Variable Mortgage Rate: Which Is Better For You?

With a fixed-rate mortgage, your interest rate and payments won’t change during your mortgage term. But they might if you opt for a variable-rate mortgage. Read more.