Avoiding Foreclosure in Manitoba: Your Options and Rights

Understanding Foreclosure in Manitoba

Foreclosure is a legal process where your lender seeks to recover the balance of a loan by forcing the sale of your property. In Manitoba, this process is governed by specific provincial laws.

Your Rights as a Homeowner

• Right to Redeem: You can stop foreclosure by paying the full amount owed
• Right to Sell: You can sell the property before foreclosure completes
• Right to Legal Counsel: Always consult with a lawyer

Alternative Solutions

Before foreclosure becomes inevitable, consider these alternatives including loan modifications and quick sale options.