This is a second real example of an Ontario Notice of Sale Under Mortgage, with personal details redacted. Comparing it with our first example shows how the wording and layout can vary between lenders and law firms while still following the form required by the Mortgages Act: identification of the mortgage in default, the amounts owing, and the deadline before the lender may sell the property.
For a plain-language explanation of every part of this document, see What is a Notice of Sale?
Timelines are the most important part of any Notice of Sale: the date of default, the amounts owing broken down by principal, interest, and fees, and the deadline after which the lender may sell. When comparing this example with the first one, note how both leave the redemption window open — Ontario law encourages reinstatement, and lenders generally prefer being paid to selling the property. Homeowners at this stage can still redeem the mortgage, refinance with another lender, or sell on their own terms.
