Existing payment arrangements
Contact your mortgage lender about relief options and your municipality about the tax account. Ask what is available, what it costs and how it affects future payments.
Explore FCAC’s mortgage relief guidanceTORONTO · MISSISSAUGA · THE GTA
Mortgage & Tax
Arrears Help
A clearer plan starts here.
Behind on mortgage payments or property taxes? Explore financing options in Toronto, Mississauga and the GTA with The Mortgage Providers.
Tell us what is overdue and whether you have received a notice.
Toronto officeServing borrowers across the GTA
Established in 1997Mortgage brokerage experience
Brokerage licence 10533Residential & commercial financing
MORTGAGE & PROPERTY TAX ARREARS
Understand what is owed.
Explore what comes next.
Arrears are payments that are overdue. Mortgage arrears relate to your home loan; property tax arrears relate to your municipal tax account. Resolving either starts with the current balance and any deadlines.
The Mortgage Providers helps GTA homeowners explore whether refinancing or another mortgage option could address overdue amounts. The review considers your property, existing borrowing and ability to manage the proposed arrangement.
New financing moves debt into a new arrangement; it does not erase what you owe. A workable plan must cover both the immediate shortfall and the payments ahead.
COMPARE THE AVAILABLE ROUTES
A plan that fits
your circumstances.
The first question is which approach you can sustain, including any arrangement available directly from the party you owe.
Mortgage refinancing
A replacement mortgage may allow overdue amounts to be addressed as part of closing. Compare the new loan, any cost to end your existing mortgage, and the funds remaining after payouts and fees.
Explore first and second mortgagesAdditional secured borrowing
A second mortgage may be considered where suitable. Your first mortgage remains payable, so review the total payment burden and the plan to repay the additional loan.
Understand borrowing against home equityFROM BALANCES TO A PLAN
Bring the facts.
Review the next steps.
Start with the documents you have. Explain any approaching date before discussing a financing amount.
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Identify each overdue account
Separate municipal taxes, mortgage payments and other debts. Share the property address, current statements and any collector or legal correspondence.
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Review the property and budget
Set out your mortgage balances, other registered borrowing, income and essential expenses. Explain what caused the shortfall and what has changed.
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Compare the full cost
Check the proposed payments, interest, lender and brokerage fees, appraisal and legal costs, and any mortgage payout charge. Ask which costs are deducted from the advance.
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Confirm how the accounts will be resolved
Before proceeding, confirm who will receive the closing funds, the balances being paid and any conditions still outstanding. Build the next tax instalments into your household plan.
PREPARE FOR YOUR REVIEW
The details that
move the conversation forward.
A detailed financing review may require:
- Your property address and ownership details
- Current mortgage and secured-loan statements
- A municipal tax statement showing the overdue balance
- Collection letters and any legal notices with deadlines
- Income and employment or business information
- Your regular expenses and other debt payments
- The amount needed and your longer-term repayment plan
Use your enquiry to explain the situation first; ask the team how to provide sensitive documents securely.
LOOK BEYOND THE IMMEDIATE SHORTFALL
Check the costs.
Plan the repayment.
Having equity does not automatically mean more borrowing is affordable. Your home secures the mortgage, so failing to repay can put the property at risk.
If a private mortgage is proposed, ask why it fits your situation and how you will repay it at the end of the term. Short-term financing needs a realistic next step; future refinancing should not be treated as guaranteed.
TORONTO · MISSISSAUGA · GTA
Start with your
local tax account.
Toronto and Mississauga publish their own collection guidance. Mississauga encourages owners having difficulty paying property taxes to contact the City about options. In Toronto, accounts assigned to a bailiff must follow the City’s instructions for paying that collector.
The Mortgage Providers welcomes financing enquiries from Toronto, Mississauga, Brampton, Vaughan, Markham, Richmond Hill, Oakville, Burlington and Durham Region. Confirm tax-account requirements with the municipality where your property is located.
YOUR QUESTIONS
Mortgage & tax
arrears FAQs.
Answers about overdue balances, financing and the next steps.
What is the difference between mortgage arrears and property tax arrears?
Mortgage arrears are overdue payments owed to your mortgage lender. Property tax arrears are overdue municipal taxes. You may have one or both. Get a current statement for each account, even if your mortgage lender normally collects money for your property taxes.
Can I refinance a home with property tax arrears?
It may be possible, depending on your property, available equity, income, credit and lender requirements. A review must account for the arrears, other secured debts and transaction costs. Approval is not guaranteed, and the proposed payments must be manageable after the overdue balance is addressed.
Could a second mortgage help pay overdue taxes?
A second mortgage may provide funds if a lender approves the application. It adds borrowing secured against your home while your first mortgage remains in place. Compare the combined payments, fees and repayment plan before deciding whether it is suitable.
Should I contact my lender or municipality before applying?
Yes. Ask your lender about available mortgage relief and your municipality about your tax account and payment options. If your account has been assigned to a collector, follow the instructions on the notice. A direct arrangement may be worth comparing with new borrowing.
Does a mortgage application stop a tax sale or power of sale?
No. Submitting an application does not itself stop collection or enforcement. If you have a tax arrears certificate, tax-sale notice or mortgage enforcement notice, speak promptly with the issuing party and an Ontario lawyer. Share the documents and deadlines with the brokerage at the start of your enquiry.
Can I discuss options if missed payments have affected my credit?
Yes. The Mortgage Providers can review your circumstances, but credit concerns can affect which lenders and terms are available. Provide the current balances, property details and an honest repayment budget. No credit score or amount of equity guarantees approval.
What if a private mortgage is suggested?
Ask why it is suitable, what all the costs are and how you will repay it when the term ends. Private mortgages are generally short-term options and may carry higher rates and fees. If payments cover interest only, the principal balance remains owing. A realistic exit plan matters.
Is this service for CRA income tax debt as well?
This page focuses on municipal property tax arrears and overdue mortgage payments in Toronto, Mississauga and the GTA. CRA income tax debt is a different issue. Identify the creditor and any registered claims when you enquire so the team can assess whether it can assist with a financing review.
START THE CONVERSATION
Let’s review your options.
Tell us what is overdue and what you need to resolve.
We’ll discuss the details needed for a financing review.
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