Foreclosure homes for sale: what this page shows
When people search for a foreclosure, they usually mean one thing: a home being sold because the owner could not keep up with the mortgage, where the lender is driving the sale and is motivated to recover its money. This page gathers every current MLS® listing in our database whose description identifies it as that kind of sale — a power of sale or a mortgagee (the lender) selling the property. Every matching listing appears here with no city boundary applied, so you can pan the map anywhere and see the full picture.
What is a foreclosure — and why you will rarely see one in Ontario
A true foreclosure is a court process in which the lender takes ownership of the home and any remaining equity along with it. In Ontario, that process is slow and rare — lenders almost always use a power of sale instead. Under a power of sale, the lender sells the home on the owner's behalf, recovers the mortgage debt and selling costs, and returns any surplus to the borrower. The outcome for buyers is the same as the "foreclosure deal" they were searching for: a lender-driven sale, usually priced to move.
Other provinces work differently. British Columbia, Alberta, Saskatchewan, Manitoba and Nova Scotia rely on court-supervised judicial sales and foreclosures, and Quebec has its own hypothecary process. Our guide, Power of Sale: Understanding Canada's Distressed Property Terminology, translates all of these search terms into the actual legal processes and shows you how to verify what kind of sale you are really looking at.
Buying a power of sale or foreclosure property
These homes are usually sold "as is, where is" — the lender has never lived in the property and makes no warranties, so budget for an inspection and possible repairs. Closing timelines and conditions tend to be stricter, and well-priced listings attract serious competition. Working with an agent who has completed power of sale purchases helps you move fast without missing the fine print.
Looking for a specific city?
Toronto consistently has the deepest pool of lender-driven listings in the province. Browse the dedicated page for foreclosure homes in Toronto to see only power of sale listings inside Toronto's boundary.