Power-of-sale listings in the GTA have doubled in a year as rising rates and strict renewals push homeowners out. Banks now recheck income with CRA data and can deny renewal even with perfect payment history. Self-employed owners are especially at risk. Delinquencies at major lenders are up sharply, and even minor contract breaches can trigger a sale. Experts urge borrowers to review documents early and plan for higher payments to avoid losing their homes.
Banks Are Quietly Denying Mortgage Renewals — Even If You’ve Never Missed a Payment
