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Navigating foreclosure in Alberta can be overwhelming. At Canadian Foreclosure Relief Program, we provide clarity and support. Explore these frequently asked questions to better understand the process and your options.

Frequently asked questions

We understand that facing foreclosure is a difficult situation. This FAQ is designed to provide you with essential information and guide you toward finding the right solutions. The Foreclosure Relief Program is here to help you every step of the way.

What exactly is a foreclosure in Alberta?

It's important to understand that "foreclosure" refers to two different things that are often confused:

The Foreclosure Process

This is the legal proceeding that can take 8-12 months from start to finish. During this time, you still own your home and have various rights and options. The lender is asking the court for permission to take your property, but until the court grants final approval, you remain the legal owner with the ability to:

  • Negotiate with your lender
  • Sell the property yourself
  • Refinance or find alternative financing
  • Request judicial sale instead of foreclosure
  • Exercise your right of redemption by paying what you owe

Actual Foreclosure

This is the final event - when the court grants the "final order of foreclosure" and legal title to your property transfers to the lender. Once this happens:

  • You are no longer the owner of the property
  • You lose all rights to the property
  • You must vacate the property
  • The foreclosure process is complete

 

Can I stop a foreclosure once it starts?

Yes — in many cases you can. Options include catching up on payments, refinancing, selling the home, or negotiating with the lender. The sooner you act, the more control you’ll have over the outcome.

 

What happens to my credit?

A foreclosure does affect your credit rating. It may stay on your credit report for up to seven years, but rebuilding your credit is absolutely possible — especially if you take proactive steps to resolve the situation before it reaches the final stage.

 

Can I sell my home during foreclosure?

Yes. In Alberta, homeowners can usually sell the property right up until a final court order transfers title. This is often the best way to protect your equity and avoid a judgment shortfall.

 

Who owns the home during the process?

Until the court grants final foreclosure or sale approval, you remain the legal owner. That means you can still live there, pay utilities, and even sell — provided you work within the timelines set by the court or your lender.

 

What is a “redemption period”?

It’s the amount of time the court gives you to catch up on missed payments or pay off the mortgage before any sale or foreclosure can be finalized. Redemption periods typically range from 3 to 6 months.

What if I don’t file a (Statement of) defence?

If you ignore the foreclosure paperwork (called a Statement of Claim), the court can move ahead without your input. It’s always better to respond or get advice — even if you’re unsure what to say.

 

What happens to my personal belongings if the home is sold?

You’re expected to remove your belongings before the possession date. If anything is left behind, the new owner or lender may deal with it under Alberta’s Rules of Court about abandoned goods (Rule 9.28).

 

What happens to property taxes, utilities, or condo fees?

If the lender advances these costs to protect their interest, they’re usually added to what you owe. In a sale, they’re paid from the sale proceeds before any surplus is returned to you.

 

Can I refinance or get a second mortgage to pay off arrears?

Yes — as long as you have enough equity and income to support the new payments. Many private lenders (like those who work with our program) specialize in short-term solutions to stop foreclosure and give you breathing room to sell or recover.

 

What happens if someone buys my home through the Court?

Once a judicial sale is approved, the buyer becomes the new owner, usually taking the property “as-is, where-is.” You’ll be given a possession date, and after that you must move out.

 

How much time do I have before I need to leave?

If the court orders possession, the timeline is usually about 30 days — though it can vary. You’ll receive written notice, so you’ll know the date well in advance.

 

Can I rent somewhere if I have a foreclosure on my record?

Yes, but landlords may ask for a larger deposit or proof of income. Providing a clear explanation of what happened — and showing that you took steps to resolve it — goes a long way.

 

What’s the best first step if I’m behind on my mortgage?

Reach out right away — before the lender files a claim. The earlier you act, the more options you have. Our program can often intervene before court proceedings escalate, protecting your home and your equity.

 

Who can I talk to for confidential help?

You can speak directly with our Foreclosure Relief team for a private consultation. We’ll review your mortgage, equity, and options — usually within 24–48 hours — and give you honest, pressure-free advice about what’s possible.

Need more help?

Facing foreclosure can be daunting, but you're not alone. At Canadian Foreclosure Relief Program, serving Albertans from our Edmonton location, we understand the intricacies of Canadian foreclosure laws and offer tailored support. Let us guide you towards a solution. Contact us today at [[phonenumber]] or [[email]], or visit our website at [[website]].