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2525 blv Daniel-Johnson, Laval, QC, H7T 1S9
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Fax: 514-533-0143
Homeowners after a hard stretch — Quebec
Mortgage maturing after a run of missed payments?
Missed payments complicate a renewal, but they do not make it impossible. What counts is how many, how recent, how much equity the property holds, and what your situation looks like now.
- Mortgage renewal approaching
- Late or missed mortgage payments
- Credit damaged by a difficult stretch
- Equity available in your property
Nectarios Petropoulos, mortgage broker (licence 237338), Dominion Lending Centres National. Free, confidential review with no obligation.
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We will contact you shortly to discuss your situation. If your request is urgent, you can also reach us at 514-999-9946.
Who this is for
Does any of this sound like you?
Missed payments say different things depending on when they happened. That is the first thing a lender looks at.
A few isolated late payments
Two or three payments pushed back during a specific period and since caught up: the easiest case to explain to a lender.
Arrears outstanding
Payments have fallen behind on the mortgage and the lender has started following up.
A notice received
A prior notice of exercise, a 60-day notice or a formal demand: the situation now has a legal clock and the deadline becomes the main constraint.
Situation now stable
The hard stretch is behind you and income has recovered, but the credit file still carries the marks.
The basics
What missed payments change, and what equity still allows
Prime lenders generally exclude files with recent mortgage arrears. Alternative and private lenders lend first on the value of the property: as long as enough equity remains, a solution is often possible, at a higher cost and for a limited time.
The real enemy here is not the missed payment, it is the delay. A file picked up three months before maturity has far more options than one picked up after a notice arrives. Here are the routes that can be reviewed.
Options that can be reviewed
An arrangement with your current lender
Worth exploring first: spreading the arrears, a temporary change to payments. It avoids the cost of new financing when it works.
Alternative (B) lender
More flexible on credit and arrears, provided the equity and income hold up. Often a term or two to get back on solid ground.
Private turnaround financing
When time is short or the arrears too recent: pay out the current lender, clear the arrears, and plan the exit to something cheaper.
Refinance with consolidation
If other debts contributed to the missed payments, folding them in can lighten the monthly load and make the structure sustainable.
If the numbers do not hold, the review says so. Selling with your equity intact beats a repossession — an uncomfortable conclusion, but a far better one to reach early.
The process
How the review works
A simple three-step process, at no cost and with no obligation.
We build the picture
Maturity, how many missed payments and when, arrears, notices received, equity, current income and debts.
We compare the options
We look at which lenders accept the file as it stands, at what cost and within what timeframe.
We stabilize it
Financing in place, arrears cleared, then a plan to move back to something cheaper.
What changes
What the review can give you
Every file is different and no outcome can be guaranteed in advance. Here is what the review usually gives you.
- Exactly how much time you have before maturity or the next step.
- Which missed payments hurt most, and which can be explained.
- The lenders likely to accept the file despite the arrears.
- An end to the waiting, and a dated plan instead.
Who you will be talking to
A mortgage broker specializing in files the banks turn down
Nectarios Petropoulos is a mortgage broker with Dominion Lending Centres National and has worked since 2016 on files with arrears, prior notices of exercise and declined renewals.
A broker works with several lenders: banks, alternative lenders and private lenders. The job is to compare what exists for your situation and explain the consequences of each option, including when doing nothing is the better call.
- Broker
- Nectarios Petropoulos
- Licence number
- 237338
- Brokerage
- Dominion Lending Centres National
- Office
- 2525 Daniel-Johnson Blvd, Laval, Quebec H7T 1S9
- Phone
- 514-999-9946
Frequently asked questions
Missed payments: your questions
Do missed payments automatically block a renewal?
Not automatically. The impact depends on how many, how recent, your current situation, the equity available and the lender's criteria. Recent mortgage arrears weigh far more heavily than a late credit card payment.
I received a prior notice of exercise or a 60-day notice. What now?
Act immediately, because that kind of notice starts a legal clock. The more days left, the more options exist. Get the file reviewed right away, and speak to a lawyer or notary about the notice itself.
What if my lender refuses to renew?
Move quickly to review the alternatives. Depending on equity and income, an alternative or private lender can sometimes refinance the mortgage and clear the arrears at the same time. No outcome can be guaranteed before a review.
Can the arrears be paid out of the refinance?
That is common. If the equity supports it, the new financing repays the existing mortgage, the arrears and the accumulated costs at signing with the notary.
How long before I can return to a bank?
Generally a minimum of twelve months of clean payments, often more when the arrears are recent. The plan is built at the time the financing is set up.
Should I wait for maturity before acting?
No. That is the most important line on this page: every week of waiting shortens the list of possible lenders and raises the cost of the solution.
Maturity approaching? Let's look at it now
Time is the most expensive variable in this kind of file. A few minutes is enough to get clear on it.
The information on this page is provided for general guidance only and is not an offer of credit, a guarantee of approval, or legal advice. If you have received a prior notice of exercise or a formal demand, also speak with a lawyer or notary.