Ontario Sheriff's Sales Surge 36% Above Pre-COVID Levels as TD Bank and BMO Drive Enforcement Wave
Litvack Group's review of Ontario Gazette notices from January 2016 through May 2026 finds Sheriff's Sale activity has averaged 116 notices per year since 2023 — approximately 36% above the pre-COVID baseline of 86 per year. TD Bank and BMO together account for approximately 63% of all 2026 YTD notices. The institutional creditor mix has shifted dramatically: RBC dominated pre-COVID enforcement at 25% of notices, while TD Bank has emerged as the dominant post-COVID enforcer at 44%. Enforcement is province-wide.
FOR IMMEDIATE RELEASE
VAUGHAN, ON - June 8, 2026 - A decade-long review of Ontario Gazette notices from January 2016 through May 2026 has found that forced property-sale activity driven by unsecured creditors is running at its highest sustained level in the dataset. Sheriff's Sale notices have averaged 116 per year from 2023 to 2025— approximately 36% above the pre-COVID average of 86 per year across 2016–2019. 2025 was the highest single year on record with 122 notices. 2026 is on pace to match or exceed it, with 75 notices already filed through May 31, 2026. The research was conducted by Litvack Group Inc., a Licensed Insolvency Trustee practice in Ontario, through direct review of individual Gazette issues spanning more than ten years.
What Is a Sheriff’s Sale — and Why It Surprises Homeowners
Unlike power of sale proceedings initiated by mortgage lenders — which have been widely reported in Canadian media — Sheriff’s Sales are initiated by unsecured creditors who hold court judgments for debts such as credit cards, personal loans, and lines of credit. These creditors have no direct claim on the mortgage but can force the sale of a debtor’s home to recover equity once a Writ of Seizure and Sale is filed with the local Sheriff’s office.
A homeowner may be fully up to date on their mortgage but fall behind on a credit card, personal loan, line of credit, business debt, or other unsecured obligation. If that creditor sues, obtains a court judgment, and files a Writ of Seizure and Sale against the homeowner’s property, the creditor may eventually direct the Sheriff to sell the homeowner’s interest in the property. This process is separate from a mortgage power of sale and can come as a surprise to homeowners who believe their home is at risk only if they miss mortgage payments.
Key Findings
1. Sheriff's Sale Volume: Sustained Wave Since 2022
The dataset reveals a sharp break between the pre-COVID period and the post-2021 environment:
2016–2019 - 342 total notices over four tracked years — an average of approximately 86 per year. Writ-to-sale lags of 5 to 13 years were common, reflecting a slow-moving enforcement environment.
2020 - 22 notices — the COVID enforcement moratorium. Activity reduced sharply after March 2020.
2021 - 1 notice — effective enforcement standstill.
2022 - 45 notices — cautious restart; older writs beginning to move.
2023 - 108 notices — the post-COVID enforcement wave arrives. Volume more than doubles from 2022.
2024 - 119 notices — sustained high volume continues
2025 - 122 notices — the highest single year in the dataset.
2026 YTD (to May 31) - 75 notices — on pace to exceed 2025. Writs from 2024 and 2025 already appearing in sale notices.
Two forces are working simultaneously. The COVID enforcement freeze of 2020–2021 created a backlog of stalled files that began clearing in 2022–2023. That backlog effect would normally be expected to fade — but volume has not receded. Instead, 2025 set a new record, and 2026 is on track to be higher. The evidence points to a second driver: creditors who accumulated new unsecured debt defaults during the 2022–2024 rate cycle are now moving to enforce before further home value erosion eliminates the equity they are pursuing.
2. Who Is Enforcing: TD Bank Mostly Frequently Named in 2026 Notices, Private Creditors Also Active
The most striking finding in the full ten-year dataset is not just the increase in volume — it is how the institutional creditor mix has changed between the pre-COVID and post-COVID periods.
Pre-COVID (2016–2019): RBC was the dominant institutional enforcer, appearing in 25% of notices. CIBC was active at 9%. TD Bank and BMO together accounted for only 13% of pre-COVID notices. Private creditors, including spouses, trade, creditors and individuals, represented 51% of all enforcement.
Post-COVID (2022–2026): TD Bank has become the dominant institutional enforcer, accounting for 44% of all notices. BMO has emerged as a significant enforcer at 13%. Meanwhile, RBC has dropped to 8% and CIBC has nearly disappeared from the enforcement picture. Private creditors have declined to 31%.
In 2026 specifically, TD Bank (36%) and BMO (27%) together account for approximately 63% of all notices — nearly two in three. The shift from an RBC-led to a TD-led institutional enforcement environment, with BMO accelerating sharply in 2026, is the single most dramatic trend in the ten-year dataset.
3. Enforcement Timeline: Fastest in a Decade
The writ-to-sale timeline has compressed dramatically. In the 2016–2019 data, writs from 2004, 2009, and 2011 were still being actioned — lags of up to 13 years. By 2026, 76% of active notices (55 of 75) carry writs dated 2023 or later, and 46 of those carry writs from 2024 or 2025. This represents an enforcement lag of as little as 12 to 18 months — the shortest in the ten-year dataset.
The compression is consistent with creditor urgency driven by falling home values. When equity is expected to grow, creditors can afford to wait. When equity is expected to shrink, time becomes a direct financial risk to recovering debts.
4. Geographic Reach: Province-Wide, Into Smaller Markets
Pre-COVID, most Sheriff notices were concentrated in Toronto (31%). Now, post-COVID, Toronto decreased moderately (27%) there are increases in other regions in Ontario such as Ottawa (4% to 8%) and Brampton (5% to 9%) and notices are also being issued in other cities such as: Vaughan, Guelph, London, Markham, Hamilton, Thunder Bay, Oakville, Windsor, Kitchener, Ajax, Niagara Falls, Barrie, Burlington, and beyond.
The geographic dispersion indicates the enforcement wave has moved well beyond the GTA’s urban core. Wherever home equity exists, and unsecured debts remain unresolved, the enforcement pipeline is active.
“Most homeowners understand that a mortgage lender can start power of sale proceedings if they fall behind on mortgage payments. What many do not realize is that a homeowner can be current on their mortgage and still face a forced sale because of a separate court judgment by an unsecured creditor. That is the hidden risk this data brings to light.”
“The most concerning finding is the shrinking timeline. We are now seeing writs from 2024 and 2025 already appearing in sale notices as of May 2026. Volume has not receded after the COVID backlog cleared — it has continued to set new records. These are not legacy files being processed by the system. These are recent defaults moving to enforcement faster than most homeowners would expect.”
— Bryan Litvack, President, Litvack Group Inc.
Context: A Broader Debt Crisis
The Sheriff’s Sale trend exists against a backdrop of deteriorating consumer credit conditions. According to the Canadian Association of Insolvency and Restructuring Professionals (CAIRP), Canadian consumer insolvencies reached 140,457 in 2025 — the highest since 2009. Homeowner insolvencies rose to 8% of all filings in 2025, up from 5% the prior year, and nearly one in four insolvent homeowners filed with negative equity in their homes.
Non-mortgage delinquencies — credit cards, personal loans, and lines of credit — are at their highest levels in over a decade. These are precisely the debt categories that generate the court judgments and writs of execution that feed Sheriff’s Sale activity.
GTA average home prices have fallen approximately 24% from their February 2022 peak. GTA condominium prices have declined from approximately $800,000 in early 2022 to just over $625,000 in early 2026. This simultaneous compression of debtor’s equity and creditor concern about further erosion is accelerating enforcement timelines.
Why Creditors Are Moving Faster Now Than a Decade Ago
Falling home values have reversed the calculus
In 2016–2019, rising Ontario property values rewarded patience — equity grew while writs sat on file. With prices now falling, waiting has become a losing strategy. Creditors who once had years to decide now face the risk that further price declines will eliminate the equity they are pursuing.
Refinancing is more difficult
Many debtors in the pre-COVID period resolved writs quietly by refinancing, paying the creditor from equity and avoiding a public notice entirely. With most homeowners unable to refinance due to reduced home equity, writs are reaching the public sale stage rather than being quietly discharged.
The COVID backlog and rate-cycle defaults arrived simultaneously
The enforcement freeze in 2020–2021 queued thousands of files that had stalled. When courts reopened, creditors faced the backlog alongside a new wave of rate-cycle defaults from 2022–2024 — resulting in a higher sustained volume than the pre-COVID baseline and compressing enforcement processing timelines. The fact that 2025 set a new record — after the backlog should have largely cleared — is the clearest evidence that this is not a temporary catch-up effect.
Why This Story Has Been Missed
Power of sale proceedings by mortgage lenders are widely tracked through real estate databases and have been extensively covered by Canadian media. Sheriff’s Sales are published in the Ontario Gazette, a weekly government publication, and are not compiled in any commercial real estate database. This has rendered the trend largely invisible to mainstream reporting despite its practical implications for affected homeowners.
For more information on available options for homeowners: Sherrif Sales in Ontario
About Litvack Group Inc.
Litvack Group Inc. is a Licensed Insolvency Trustee practice in Ontario helping individuals file consumer proposals and personal bankruptcies under the Bankruptcy and Insolvency Act. The firm serves individuals and families across Ontario seeking debt relief while protecting their assets, including their home. All initial consultations are confidential and free of charge.
Media Contact
Bryan Litvack | Litvack Group Inc.
Email: bryan@litvackgroup.ca
(647)946-1737
Website: www.litvackgroup.ca
Available for phone, Zoom and television interviews
Available Upon Request
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Full research dataset of Ontario Gazette Sheriff’s Sale notices 2016–2026 dataset
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Regional breakdown of sampled Sheriff’s Sale notices by Ontario cities
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Creditor breakdown by institution and year (2016–2026)
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Interview with Bryan Litvack, Licensed Insolvency Trustee
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Plain-language explainer: Sheriff’s Sale vs. mortgage power of sale — key differences for homeowners