The Mortgagee can proceed by taking ownership of the property itself (Foreclosure), launching a sale to another party (Power of Sale), or obtaining a court ordered sale (Judicial Sale). A Mortgagee may also be able to obtain a Court Order for possession of the property, so that occupants are required to move, so that the property can subsequently be sold or entered by the owner. If the Mortgagee sells the property to a third party pursuant to its power of sale privilege in the Mortgage, it must serve a Notice of Sale setting out the full amount of the debt owed, including interest and costs on all required parties. Notice must be served upon all those with a legal claim or interest in the secured property. These parties do have rights to redeem up to a certain point in the sale procedure by paying the full amount claimed to the Mortgagee. If there is a shortfall on sale, the Mortgagee may still sue the borrower for the remainder owed, by commencing an action through the courts. These remedies should be reviewed with your lawyer to determine the best option for your circumstances.