Arrears
When a payment has slipped.
Arrears means money the mortgage required, and that was not paid on time. It is a file to organize. It is not a verdict.
What to look at
The missed amount is often a regular payment. On many charges, taxes or insurance the mortgage required can matter too. Whether a particular miss is a default depends on the document. Bring the charge and the latest letters.
If you are still current, start with financial pressure. The choices are usually wider before a default.
What a sale does
A sale in your name can pay the mortgage from proceeds and keep price, access, and timing with you. It does not, by itself, stop enforcement. If a notice has arrived, read notice of sale and selling during a power of sale.
A listing does not stop a lender’s enforcement. Paying what is overdue does not always put a mortgage back in good standing. An Ontario lawyer confirms notice deadlines, the payout, and whether a lender has already signed an agreement. This page is general information, not legal or financial advice.
Other paths exist: a conversation with the lender, or a refinance. Those belong with the lender, a mortgage broker, or a lawyer. Valeo does not sell loans.