Borrower Defaults Under a Mortgage and Lender's Enforcement Rights: Overview | Practical Law
This Practice Note provides an overview of common breaches by borrowers under a mortgage of commercial real property, such as the failure to pay and breach of covenant, and the most common remedies of commercial lenders for such breaches, such as power of sale, foreclosure, and judicial sale. This Note is applicable across all common law jurisdictions, but particularly in Ontario.