Should I sell before mortgage enforcement goes further?

The client problem

The client refuses to list because selling feels like failure, then legal costs and a rushed sale remove choices and bargaining power.

A practical Ontario example

A refinance costs $35,000 and requires a one-year exit the household cannot meet. Listing early at a realistic price may preserve more equity than borrowing simply to delay the sale.

How the lending routes may differ

• A/B refinance: suitable only if the new payment and term solve the underlying problem.
• MIC/private: may provide time to market the property properly when the net benefit exceeds the financing cost.
• Sale: requires coordination among the realtor, lawyer, lender and broker so the payout and closing deadline are realistic.

Policy boundary: FCAC expectations discussed here apply to federally regulated financial institutions and do not require every lender to offer the same relief.

Questions to ask now

• What would a conservative sale net?
• How long can the carrying costs be paid?
• What is the rescue loan’s total cost?
• What price and timeline does the local market support?

Rajiv’s practical view

Compare choices in net dollars and time. The best outcome may be keeping the home, or it may be selling before someone else controls the process.