Michael Santos

MLB Residential Lending

  • Home
  • About
    • About Michael Santos
    • Corporate Site
    • Privacy Policy
  • Blog
  • Resources
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
    • Closing Costs
    • Home Appraisal
    • Home Inspection
    • Loan Checklist
    • Loan Process
    • Loan Programs
    • Mortgage Glossary
    • Mortgage FAQ
  • Testimonials
  • Calculator
  • Apply
  • Contact

6 Ways to Fight Foreclosure

March 13, 2019 by Michael Santos

6 Ways to Fight ForeclosureSometimes, things don’t go as planned. Despite the best intentions, there are times when it’s impossible for homeowners to fulfill their mortgage obligations. When your misfortune turns into a foreclosure notice, these tips will help you control the situation and realize the best outcome.

Work With Your Lender

Open the lines of communication with your lender to stall the foreclosure process.

  • Call your lender and explain your predicament. Give them specific details about the nature and estimated length of your circumstances. Many lenders are willing to temporarily modify payment terms to temporarily accommodate certain hardships.
  • Apply for a loan modification. If your credit rating has improved or market values have shifted in your area, it’s possible to negotiate friendlier terms that lower your monthly payments.
  • A forbearance allows you to pause or drastically reduce your mortgage payments for a short period. However, you’ll have to pay everything owed in a lump sum or via larger monthly installments.

It is in your lender’s best interest to keep you in your home. Contact them early to avoid unnecessary issues.

Take Legal Action

Keep the law on your side to ensure you have the best chance at keeping your home.

  • If you believe your foreclosure is unlawful or in error, you will have the chance to present your case in court. Respond in writing to the official foreclosure complaint as soon you receive it. This eliminates quick default judgments.
  • Talk to a lawyer about your case. Even if you can’t afford to retain one for the trial, invest in a short sit-down session with a knowledgeable legal representative to get the facts straight and ensure you’re ready to present your defense.
  • Personal bankruptcy is a final strategy for saving your home. Most chapter 7 and 13 filings allow you to keep your primary residence while reorganizing your debt.

Foreclosure is less of a threat when you understand the laws and procedures that govern the process. Educate yourself on your legal options.

A temporary setback doesn’t have to ruin your entire life. With these tips, you won’t have to lose your dream to foreclosure.

Contact your trusted home mortgage professional to discuss current financing options.

Filed Under: Mortgage Tagged With: Foreclosure, Mortgage, Refinance

Michael Santos Headshot

Contact Michael


Branch Manager Executive / Mortgage Loan Originator

Top Loan Originator Since 2001

Call (908) 296-6608

NMLS #199875
MLB Residential Lending Logo
MLB Residential Lending, LLC.
NMLS# 1101220
1095 Morris Ave.
Suite 104
Union, NJ 07083

Direct 908.296.6608 (24/7)
Corporate Site
Free Rate Quote

Sign Up For My Newsletter!

Connect With Me!

  • Facebook
  • LinkedIn
  • Twitter

Let’s Keep In Touch!

  • This field is for validation purposes and should be left unchanged.

Looking For Something?

This is not a commitment to make a loan. Loans are subject to borrower and property qualifications. Contact loan officer listed for an accurate, personalized quote. Interest rates and program guidelines are subject to change without notice.
MLB Residential Lending is an Equal Housing Lender.
NMLS# 1101220.
Equal Housing Lender
NMLS Consumer Access
Michael Santos is not licensed in NY and this site is not intended for NY loans.
Michael Santos NMLS #199875 • MLB Residential Lending, LLC. NMLS# 1101220. Michael originates NJ loans only. MLB Residential Lending, LLC. is located at 51 Commerce Street, Springfield, NJ 07081, 732.243.0140. MLB Residential Lending, LLC. NMLS#: 1101220 is a residential lender, licensed by the NJ Department of Banking and Insurance; licensed by the PA Department of Banking and Securities; licensed by the CT Department of Banking; licensed by the DE Dept. of the Banking Commissioner; and is licensed under the FL Mortgage Lender Service License # MLD1128. All rates are subject to change without notice. MLB in no way, claims to represent or to conduct business on behalf of HUD, the FHA or the Federal Government. This site is not authorized by the New York State Department of Financial Services. THIS SITE IS INTENDED ONLY FOR NJ CONSUMERS.

Return to top of page

Copyright © 2021 Michael Santos. All rights reserved.   Log In