Power of Sale

Power of Sale provides a mortgage lender with the ability to evict the property occupants and sell the property if the Borrower is in Default of the mortgage. The Lender has a duty to sell the property at a fair market value. Once the property is sold, the former homeowner has the right to any profits from the sale after deducting debt repayment and fees. Lenders do not profit from a Power of Sale. Most lenders would rather the borrower pay off their debt than sell the property under Power of Sale. Power of Sale is a much faster process (can often be completed within six months, depending on the jurisdiction) than Foreclosure and requires less involvement from the court system.

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About The Author

Don Scott

Don Scott is the founder of a challenger mortgage brokerage that is focused on improving access to mortgages. We can eliminate traditional biases and market restrictions through the use of technology to deliver a mortgage experience focused on the customer. Frankly, getting a mortgage doesn't have to be stressful.

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Managing Uncertainty in Today’s Mortgage Market

By Don Scott • May 27, 2025

Feeling hesitant about entering the housing market today due to political or economic uncertainty is understandable. The landscape can seem unpredictable—interest rates shift, housing supply fluctuates, tariff news hits the headlines and policies change. As a mortgage broker, we see this uncertainty every day. But here’s the truth: while there is much beyond your control, mastering the factors that you can control is what will make the biggest difference in your journey to homeownership.