Across Ontario, homeowners are missing payments not because they’re reckless, but because rates jumped, renewals stalled, income changed, or costs piled up. The danger isn’t missing one payment — it’s waiting too long to act.
Here’s exactly what to do in the next 48 hours to protect your home.
First: Missing a Mortgage Payment Is Serious — But It’s Not the End
In Ontario, lenders don’t move instantly — but once the process starts, it accelerates fast.
What usually happens:
Day 1–15: Missed payment, late notices
15–30 days: Arrears letters, fees added
30–60 days: Default notices
60+ days: Power of Sale risk
The biggest mistake homeowners make is assuming:
“The bank will figure it out.”
Often, they don’t.
What You Must Do in the Next 48 Hours
1. Do NOT Ignore the Missed Payment
Silence signals risk to lenders. Even if you can’t pay in full, action matters.
2. Do NOT Rely on a Bank Extension
Banks are tightening — even on long-time clients. Delays kill leverage.
3. Assess Your Equity Immediately
Most Ontario homeowners still have significant equity, even in softer markets.
Equity — not credit score — is what saves files quickly.
How Ontario Homeowners Actually Fix This (Fast)
When timing matters, many homeowners use short-term private mortgage solutions to:
Stop default escalation
Pay arrears and penalties
Replace high-stress bank timelines
Regain breathing room
This is not a failure — it’s a bridge.
Why Waiting Makes Everything Worse
Every week you delay:
Fees increase
Negotiating power drops
Lenders harden their stance
Options narrow
Once legal steps begin, flexibility disappears.
When a Private Mortgage Makes Sense
A private mortgage can help if you:
Missed or are about to miss payments
Have equity but income issues
Are self-employed or seasonal
Are dealing with CRA arrears
Have a delayed renewal or appraisal problem
Approval is based on property value and equity, not stress tests.
Why Ontario Homeowners Call Lendworth First
Same-day decisions
Equity-based approvals
Fast funding when timing matters
Clear exits — not long-term traps
When things are urgent, speed and certainty matter more than rate perfection.
Don’t Wait for the Lender to Decide for You
If your mortgage payment is late — or about to be — the next 48 hours matter.
👉 Call Lendworth now to review your options before the situation escalates.
A short conversation today can prevent months of damage later.
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