How Important are NJ Attorney Reviews?

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The time you invest encouraging client reviews is the best investment you can make in your firm.  Prospective clients will look online for referrals and reviews before they ever pick up a phone. When they search for your firm, these are the types of reviews you want them to see:

 

The knowledge and expertise of George and his team are extraordinary.– P.S.

 

Excellent team of people ! Always get right back to you. George has a way of making you feel better in very difficult situations. He is a gem. The staff is also very effective at what they do. I highly recommend them.  –S.C.

 

Best lawyers in the area. Hard working, attentive, very knowledgeable, ethical. You can’t do better.–A.G.

 

I have sent many people to George to help them with foreclosures and bankruptcies. He has always delivered and went out of his way to make sure they were satisfied.  I highly recommend him and his firm. –P.A.

 

Every business must inevitably endure negative reviews.  It is a challenge to maintain a positive online review presence because leaving a negative review is a much more motivated process than leaving a positive review. A positive review, while it reinforces the client’s good experience, is not at the top of anyone’s to-do list. Moving clients to share their positive experiences can make a key difference in your online marketing. How do you go about tactfully asking for a review without turning the client off?

 

  1. Ask in person: At the end of a service, it is an important step to ask how the client felt about your work. This serves two purposes: you can learn the client’s feelings about how you did, and you get one last chance to uncover any unmet needs. While you may hesitate to ask because of the fear of an unhappy response, it is important to move past your own discomfort. It helps to keep it light-hearted; something like: “You’re the boss, how did I do?” brings the client’s guard down. Once you know how they feel, let them know that you would appreciate if they would leave their comments online. Let them know that you will be sending a survey or link so they know to look for it. If the client has already shared their thoughts with you they will be more ready to craft their response once they receive your review request.

 

  1. Send a digital message: Choose whatever method the client previously preferred to communicate with you (email, text message, or social media message) but do not overload them with reminders. Send your first message within the first week after your business is concluded. Send a second reminder the following week. Include links to your survey or review locations. Don’t use a form email.  Personalize your message for the client. They will appreciate the time you spent to write to them and feel better about spending their time writing a review for you.

 

  1. Send a physical reminder: A letter in the mail goes a long way. It may seem old-fashioned, but a letter asking for a few comments with a stamped return envelope has a good chance of being answered. Bonus points if you include an actual handwritten note.

 

  1. Keep it short: If you choose to use a tool like surveymonkey, keep your surveys short — no more than 1-3 questions with a comment area should suffice. Very few people are likely to fill out a long survey or read long emails seeking reviews.

 

  1. Offer incentives: It is common practice to offer incentives for referrals. Why not offer an incentive for returning a review? Advertise that reviews will be randomly chosen to win a gift card or a discount on future firm services.

 

If your positive reviews far outnumber the negative reviews, prospective clients will determine the negative reviews to be aberrant. This is a very effective way to build a strong online presence while simultaneously increasing your client base.

 

 

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Qualities Every Good & Ethical Lawyer Should Possess

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At Veitengruber Law, we take our profession and our service to our clients very seriously. A lawyer and legal team guide you through some of life’s most challenging experiences. You want someone who is going to provide you the best quality service, and work hard to get you the best outcome possible.  When considering a lawyer to represent you and your best interests look for the following attributes:

Solid Communication Skills

Laws and regulations are complicated, and often when dealing with financial matters, things can get emotional too.  Look for a lawyer that is willing to take the time to not only walk you through the process so that you understand, but can also communicate with the other people at the table.  Pay close attention to how he or she communicates not only to you, but staff members as well. You want an attorney who is personable – and you also want a legal team that works well together.

Affable personality

When working with a lawyer, you want someone you can trust. The best attorneys possess good people skills. Is your attorney friendly, clear, and a good judge of character? Your attorney should have values that you can agree with. Not every lawyer is right for everyone, so be willing to interview, ask questions and trust your instinct.

Discernment

Often, by the time realize you need an attorney, you are navigating substantially difficult life events. Things may be uncertain and even risky. The purpose of working with a lawyer is to help you determine what can be done to mitigate those difficult situations. At Veitengruber Law, we specialize in financial justice. We are able to take your concerns, cut through the noise and provide clarity. We can be a guiding light during a difficult time.

Methodical planning skills

You want a lawyer with strong analytical skills. A good lawyer must be able to take a large volume of information and synthesize it into a concise and solvable situation. Situations vary from person to person and you need someone who can look at your situation from an objective perspective. This will serve you well as you go through your legal proceedings. The best legal teams work together to build on their past experience to find the best strategies for your unique situation.

Investigative grit

You need a lawyer who will do their homework. Research is crucial to finding a legal strategy to your situation. The best NJ attorneys know to look at the the needs of the client, and how to quickly identify the resources available. Most of all, they need to be able to do this efficiently to get the client answers as efficiently as possible.

A Never Quit Attitude

In all situations, there can be a solution. However, some solutions are easier to find than others.  The right lawyer will persevere though the adversity and keep you in-the-know throughout the whole process. More importantly, they will provide encouragement and an optimistic attitude to their clients, even if their case proves challenging.

Innovation and Creativity

The world is changing at an ever increasing rate. When dealing with difficult financial situations, you need someone who thinks outside the box. There is often a solution to be found, but it may not be the first thing you consider. At Veitengruber Law, we often deal with families in distress and at risk of losing their homes. Not only are we able to save, on average, 60 families a year from foreclosure eviction, we also turn that into a learning opportunity for our clients. We continue to work with them on budgeting and other financial planning, so they do not have to live through that stress again.

When you are looking for a lawyer to represent you, please consider these characteristics.  You will be well served by them if you do.  At Veitengruber Law, we do our best to embody and practice these values every day with all of our clients.

The Advantages and Disadvantages of a Deed in Lieu of Foreclosure

deed in lieu NJ

 

It happens to a lot of people in New Jersey these days – the high cost of living finds you over extending yourself. One minute you’re keeping your head above water with utility bills, unsecured debt, and mortgage payments.  Then something happens; an unexpected illness, a layoff, a divorce – and suddenly you’re too far gone. Once you have consulted with your accountant and an attorney specializing in credit repair you may find that your best decision is to extricate yourself from your property. One option in this scenario is a Deed in Lieu of Foreclosure (also called a mortgage release by some lenders).

 

Essentially, a Deed in Lieu of Foreclosure is when the borrower surrenders the property in question to the lender, and the parties execute a title-transferring document stating that the surrendered property satisfies any remaining debt on the mortgage note. This document will have to be notarized, and will eventually be recorded in much the same way as any other deed. There are advantages and disadvantages to this arrangement.

 

Advantages

  • Borrower avoids any (perceived) public embarrassment from a full foreclosure proceeding and/or sheriff’s sale of the property.
  • Borrower may receive better terms and conditions than would have been available in a more formal foreclosure.
  • Immediately releases the borrower from responsibility of the debt of the mortgage, and any associated collection efforts such as letters, phone calls, or court proceedings (not to mention stress)!
  • Deed in Lieu has much less of a negative impact on one’s credit score than a foreclosure. (When in doubt, call one of the three major credit bureaus and ask.)
  • Reduction in time and anxiety as compared to forcing the lender to take possession of the property, or executing a short sale.
  • You are not required to find a buyer for your property; you are only required to attempt to sell the property.
  • Sometimes the lender will grant certain limited occupancy or other property rights back to the borrower, such as a lease of all or part of the property, an option to purchase later, or a right of first refusal should someone else make a reasonable offer once the Deed is executed and recorded. (Don’t expect this though. In general, lenders want the property with clear title and without any encumbrances.)

 

Disadvantages

  • A Deed in Lieu does not clear second (or even third) mortgages, and therefore will not allow the lender to take clear title to the property. (These are sometimes referred to as junior liens.) And if the Deed in Lieu is accepted, the secondary lender may come after you for the deficiency.
  • The canceled debt may generate a large tax liability, depending on the amount of the mortgage that was remaining at the time.
  • Borrower loses all equity in the property. Since this is a blanket surrender, if the equity exceeds the mortgage amount owed, the borrower will not receive the difference from the lender as they would in a short sale.
  • If the property is not in good condition, the lender may not agree to a Deed in Lieu if the outstanding note exceeds the current fair market value of the property.
  • This option will not likely be offered by the lender, so the borrower must know about and actively pursue this option. The lender must be sure that a Deed in Lieu is voluntary, and so will wait for a written offer from the borrower.
  • The lender may reject an offer for a Deed in Lieu if the property has equity or the federal government is providing financial incentives to the bank to foreclose.
  • Most lenders will not allow you to buy another home immediately after you have executed a Deed in Lieu. Those lenders that buy loans in the second market (i.e. from other, smaller lenders) will not generally buy a note from a borrower who has been part of a Deed in Lieu arrangement for 4 years without extenuating circumstances – or 2 years with extenuating circumstances. Therefore, smaller lenders will be cautious about lending to you as well, even if you decide to downsize and can prove you can make the payments on your new mortgage. Always check, as these guidelines are constantly changing.

 

As with any property conveyance or complex debt elimination, always consult with an attorney specializing in such areas to make sure you are making the right decision for your situation. Remember that a Deed in Lieu of foreclosure is almost always in the best interest of the lender, but it may not be for the borrower. You want to make sure you are doing the right thing. Contact Veitengruber Law; we can help with the tough decisions.

Can I File Chapter 13 Bankruptcy Without an Attorney?

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Though filing bankruptcy without an attorney may seem like something you can handle, it’s not necessarily the recommended option. This is not to say that filing for bankruptcy is impossible without an attorney, but it requires serious dedication, time, and self-education. Even with the most extensive research and attention to detail, it’s easy to make a mistake or miss a crucial step in the process. If you’re thinking about filing for Chapter 13 bankruptcy without an attorney, be aware of the common mistakes that pro se individuals most often make. Ultimately, whether or not you decide to hire an attorney is up to you, but as always, Veitengruber Law is more than happy to provide you with stellar bankruptcy representation.

Chapter 13 bankruptcy provides the opportunity to construct a repayment plan that will help you pay back your debt. In order for your Chapter 13 application to be approved, you need to be able to prove that you have a steady job that provides enough income for you to realistically be able to pay off your creditors within three to five years.

If you’re considering bankruptcy as a solution to your financial struggles, we want you to know that it may not be your best option. Certain forms of debt, known as nondischargeable debt, cannot be relieved by filing for bankruptcy. Related to Chapter 7 bankruptcy, your assets may be at risk if you are unable to exempt them. Knowing these small but significant details will assist you when making the decision to file.

For most people, deciding whether to file for bankruptcy and which type to file depends on: the type of debt they want to eliminate, whether or not they own nonexempt property, if they are able to pay back debt outside of the bankruptcy case, and other details that are unique to their case.

One of the biggest disadvantages of not having an attorney to guide you through the process is that you may not be aware of some of the steps that are imperative to a successful bankruptcy outcome. Just one of these key steps is the credit counseling/debtor education requisites. For any type of bankruptcy filing, it’s necessary to work through credit counseling. If you skip this step, the New Jersey Bankruptcy Court will dismiss your case. To initiate this process, you’ll need to find an agency that can provide an approved credit counseling program. Once you submit your case to the court, you will need to provide the court with proof of counseling completion. Following the submission of your bankruptcy case, you will need to conclude with a debtor education course, also known as personal financial management. If you fail to complete this, you will not receive a discharge from the court.

As with most financial processes, there is a plethora of arduous paperwork to file in a Chapter 13 bankruptcy case. These include your petition, schedule, statement of affairs, creditor matrix and many other necessary forms. Obviously, if you don’t have an attorney, you may not know which documents need to be completed (along with their deadlines). By choosing not to work with a NJ bankruptcy attorney, you take this responsibility into your own hands.

Believe it or not, bankruptcy court laws are not universal; every state and county court will have their own set of local bankruptcy procedures and regulations that you will be required to follow. Because you have to submit local tax returns and other forms to your bankruptcy trustee, it’s possible that the trustee will have additional, specific forms for you to complete as well. When you fail to follow any of these rules or meet your deadlines, expect to have a delay in or a dismissal of your case.

A huge part of filing for Chapter 13 bankruptcy in New Jersey means creating a repayment plan that assures creditors that you have the ability to pay back the debt. If you’re foregoing an attorney’s help, it’s your job to design your repayment plan. Once you submit the initial plan, the court must approve it before finalization. The creditors will reject the plan if it doesn’t meet bankruptcy code. While this task is not impossible to do on your own, writing up a repayment plan simply isn’t in the average person’s skill set. This is a step wherein working with an experienced NJ bankruptcy attorney is extremely beneficial.

The complexity of filing for bankruptcy shouldn’t scare you away, but because of its nature, it is our advice that you work with a bankruptcy team that has experience with Chapter 13 cases like yours. If you’re set on skipping an attorney, be sure to do ample research online and ask questions of your local bankruptcy court if you are unsure of something. In the end, we would recommend finding a trustworthy legal team near you to walk with you through all of the steps of filing for Chapter 13 bankruptcy

Understanding Your NJ Mortgage Contract

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Besides the possible decision of choosing a college, getting married, and the myriad of decisions that come along with having children, purchasing a home is perhaps one of the most momentous decisions you’ll make in life. It will almost certainly be your most expensive purchase. Our own human desire for control tempts us to turn to our own intuition when working through challenges – thinking we can “do it all.” Though it’s not mandatory, seeking out a real estate attorney will smooth out the home buying process from start to finish and ensure that this important transaction is a positive one.

Working with Veitengruber Law on your New Jersey real estate transactions guarantees that every aspect of your real estate experience will flow smoothly. Real estate transactions are very complex, and many legal minutiae are involved in reviewing contracts and throughout the closing process. New Jersey real estate sales and purchases are very multifaceted and “high stakes” transactions. With any real estate transaction, a huge amount of paperwork is involved. A real estate attorney can decipher and explain the real estate “legalese” in laymen’s terms as well as make sure the transaction is fair and equitable.

Not utilizing a real estate attorney in conducting these important transactions could make room for potential mistakes resulting in an unsuccessful transaction such as:

  • Not thoroughly reviewing and properly drafting the real estate contract
  • Real estate disclosure documents being misunderstood and/or misinterpreted
  • Due diligence not being carried out when searching the title

Whether your NJ real estate purchase or sale is straightforward or more complex, it is always smart to have an experienced NJ lawyer look over the contract before closing. It is highly advisable to work closely with a real estate attorney when you’re involved in more intricate real estate transactions such as foreclosure sales, short sales and deed in lieu of foreclosure matters.

Promises made by the seller to the buyer, called “covenants” (i.e. repairing a roof) are only enforceable as long as the contract is in effect. Once the transaction is complete, these promises are no longer enforceable. The seller then has no obligation to the buyer to follow through.

Making sure you have a reasonable amount of time to review the documents prior to closing is very important. You don’t want to see these documents for the first time when you’re sitting down prior to the start of the closing meeting.

In some cases, you must bring certified funds, payable to yourself for payment at closing. An experienced real estate attorney can provide you in advance the amount you will need to have at closing. Your real estate attorney can also guide you in purchasing title insurance that protects you and your heirs for as long as you own the property.

When closing the title of a real estate transaction, the process can sometimes be overwhelming. Without an ex

perienced real estate attorney involved, an important step or steps could be missed in executing the deed successfully. Having a real estate attorney present when completing the closing paperwork ensures it is done correctly and the deed is accurate when signed over to the new owner.

Contact Veitengruber Law today for an experienced, reliable and trustworthy New Jersey real estate attorney and legal team. Get closer to living in your dream home with a lot less stress along the way.

Is a NJ Real Estate Survey Really Necessary?

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Typically, a survey of a property listed for sale in the state of New Jersey is facilitated by a licensed surveyor who follows regulations enforced by NJ laws. These surveys are generally performed prior to a new owner buying the property. Although a buyer may not feel that a survey is necessary, if they are utilizing a mortgage loan to finance, many lenders in NJ will require a survey prior to closing. If your lender does not require a survey be performed, you can skip it, but there are a lot of good reasons to consider going through with a survey anyway.

What does a survey of the property typically include?

A survey of a property includes VERY important information for you to know before jumping into purchasing. For instance, it will state exactly where your property line starts and ends as well as any renovations or work that has been done to the property. It will also disclaim building lines and setbacks, which you’ll need if you decide to make changes to your home or property. With an official survey completed, you will know the zoning laws concerning adjacent buildings or sidewalks.  Other things like utility easements (such as where lines, poles, pipes etc. lie or run) will also be included so that you know if everything is up to code. A survey also contains details of any neighbor-shared part of the property such as a driveway or a neighbor’s ability to drive on your property to get to their own.

Why should I obtain a survey of my potential future home?

In addition to the reasons mentioned above, there are even more ways a survey can help you in the future – after purchasing. Some of these details include information on existing fences that may be encroaching onto your property. Suppose you wanted to start something as simple as a garden or build a patio but the property backs up to a stream/creek/pond or other body of water? It is imperative to know about flood history or underground waters that are not visible to the naked eye. Furthermore if the property is next to a cemetery, the survey will reveal any family plots or cemeteries existing on the land.

There may also be zoning restrictions that are revealed during a survey. Zoning restrictions can affect how you may use the property. This would be extremely important, especially if you were thinking of renovations that include something like an underground pool. Even if there were NOT any zoning restrictions found, you would still need and want to know things like where pipelines, water lines, catch basins, vaults, and wires may run. Additionally, any existing trees on the property may affect utility lines. If so, local utility company/ies may have established privilege to use part of the property for upkeep of the lines. They may even have a say on how tall trees can grow on your lot.

Lastly, before a contract on the home can be drawn up, the seller has to show a good standing title for the home. A survey can be very helpful in showing any zoning violations, easements, or other defects in the title. These are just several of many important disclosures you will want to know prior to signing your John Hancock on the contract paperwork.

 

How can I get more information about NJ real estate surveys?

At Veitengruber Law, we can help you navigate the ins and outs of buying a potential property. We can help you fully understand just what you may be getting into before making a potentially huge mistake in an investment. Just contact us for a FREE one-hour consultation, and we can begin helping you make the best decision about obtaining a survey, and so much more.

 

 

 

When “Time is of the Essence” in a NJ Real Estate Contract

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Whether you are buying or selling a property, knowing the details of NJ real estate laws is important to help you make the right legal decisions. For instance, many people believe the closing date written in the contract for sale is the actual closing date on the purchase or sale of a property. However, in New Jersey the closing date is not essential to the terms of the contract and is therefore not binding. This means the date of closing on the contract is not a hard date, but is instead an estimate of when the closing will take place. Either the buyer or the seller in the contract can request—and must be legally afforded—a reasonable postponement of the closing date. This can be an unwelcome surprise for a party that is ready to close. At Veitengruber Law, our goal is to eliminate confusion by ensuring legal clarity in every real estate contract we oversee.

In New Jersey, the only way to ensure a binding closing date is if both parties agree to “time is of the essence” terms. “Time is of the essence” is a legal phrase used to remind everyone involved in a real estate transaction that the clock is ticking. Once “time is of the essence” is introduced into a NJ real estate contract, the closing date becomes essential to the terms of the contract and is therefore legally binding.

Failure to close on the specified date when time is of the essence constitutes a material breach of contract, opening the non-complying party to liability. Many attorneys will not agree to make a closing date essential in a contract because it opens up their clients to increased liability, even if the client is unable to close because of circumstances outside of their control.


Veitengruber Law handles essential closing dates with ease for clients who are buying or selling a NJ property.


Veitengruber Law provides our clients with a clear understanding of how “time is of the essence” works in a real estate contract. The party who declares“time is of the essence” has to provide clear written notice to the non-declaring party. The notice must comply with the requirements set forth in the contract of sale and be sent to all parties indicated in the contract, typically by certified mail. If the party receiving the notice believes the notice is improper, they must object to the notice in a timely manner. In order to reject the notice, they must list the reasons for objection and similarly notify all concerned parties of the contract via certified and regular mail. Failure to provide a timely notice of objection may waive the non-declaring party’s ability to do so at a later date.

The declaring party must also give the non-declaring party a sufficient or “reasonable” amount of time in which to close the contract. “Reasonable” in this specific capacity, is determined by the courts on a case by case basis. The courts will decide what is reasonable by:

  • Considering the nature of the contract
  • Examining past conduct of both parties
  • Determining whether or not good faith was practiced during the negotiations, and finally,
  • Concluding whether potential hardships or prejudices exist that could affect either party’s ability to close on time

Two weeks is a customary “time is of the essence” extension for residential NJ real estate transactions and more time may be provided for commercial real estate contracts.


If one party is ready to close and the other party will not agree to a closing date, it may be wise to implement “time is of the essence” language in your NJ contract of sale. Once the original date of closing in the contract passes, the party that is ready to close can set a new closing date declaring “time is of the essence.” This new date will contractually obligate the other party to close on that date or be in breach of contract. If the non-declaring party still does not close by the date set forth under “time is of the essence,” the declaring party can seek legal remedies against the party in breach. With “time is of the essence,” we can save our clients valuable time, money and stress throughout their real estate transactions.


At Veitengruber Law, we strive to eliminate any confusion by ensuring legal clarity in all of the real estate contracts we handle.


Declaring “time is of the essence” is a valuable tool for real estate contract negotiations in New Jersey. It ensures a hard close date and legal recourse for parties ready to close on a contract. It is important to be smart about introducing “time is of the essence” to a real estate contract. Veitengruber Law has years of experience handling commercial and residential real estate transactions. Our attorneys can advise on even the most complex real estate cases with efficiency and professional expertise. Call us today to get knowledgeable guidance on any aspect(s) of your NJ real estate negotiations.

Why Owning NJ Real Estate is the Best Long-Term Investment

NJ real estate

For the majority of Americans, the most colossal expense that they face each year is housing. According to the Bureau of Labor Statistics, housing costs account for about 30 percent of total yearly expenditures. Depending on your location, renting or owning costs can differ tremendously. One thing you should know while deciding whether to rent or buy: purchasing a home, if financially possible, is a significantly smarter decision than renting.

Here’s a rundown on America’s current situation: across all income levels, more and more Americans are renting. Obtaining a job, purchasing a car, buying a home, getting married and having kids are a few of the features that make up the notorious “American Dream.” Notice that renting isn’t necessarily included in that list, though it could present itself as a necessary stepping stone. We know that to purchase a home, we have to be financially stable, which is not always an easy task. Buying a home, which aids in building equity, sets you in the fast lane to build wealth, the cynosure of the American Dream. Renting, on the other hand, does zilch in establishing a financial foundation.

In order to purchase any item that requires a loan or a large sum of money, it’s necessary to have built up noteworthy credit. Since a home is likely the most expensive purchase you’ll make in a lifetime, a good credit score is critical to be able to do that. Not only is a worthy credit score important, but having a plan as to how to afford buying said home deserves your attention.

Why is buying better than renting?

Maslow’s hierarchy of needs spells it out at the most fundamental level: shelter is a basic necessity. Purchasing a home as a place to live provides stability and safety for you and your loved ones. That’s not to say that renting will not satisfy this need, but when renting you are at the mercy of another individual. Buying a home means that you don’t have to worry about a landlord changing terms or deciding to sell the property. With each mortgage payment towards your new home, you’re one step closer to full ownership. It’s essentially an enforced savings plan.

While renting typically comes with a fluctuating monthly payment, buying a home is characterized by a steady mortgage payment. In terms of budgeting, steady cash flow, and a normal financial plan, you can strategically plan for a monthly payment as well as any unexpected surprises. Leaky roofs or broken appliances will undoubtedly pop up at some point, but because of your careful planning, the financial aspect of repairs shouldn’t be an issue. If a landlord is in charge of repairs, it runs on their timeline, so you may be waiting for quite a while until your broken washer receives some TLC. Owning a home places you in charge of maintenance; you’re on your own time schedule and you choose the personnel, appliances and/or materials that you prefer.

If you are able to buy and still decide to rent, your housing payments are doing you no good, except for securing you a place to live from month to month. In other words, you are not investing in a home or building equity. Equity is built by making on-time mortgage payments each month, hopefully lowering your cost of living during retirement. With more equity, you have access to more credit. In the case of an emergency, you have the option of refinancing by borrowing against it.


For the fifth year in a row, Gallup stated that Americans chose real estate as the most intelligent long-term investment.


Investors have predicted that the housing market will only grow stronger in the years to come. Like everything else, home values are on the rise, which means there’s no better time than the present to purchase your first (or next) home. If you’re renting, it’s also an ideal time to steer towards the path of owning a home. According to the National Association of Realtors, 51% of renters would meet the requirements for a mortgage if they applied now. Before you take that first step towards buying a home, contact us to meet with an experienced NJ real estate legal team that will help you make the best home ownership decisions.

How “Keeping up with the Joneses” can Send You into Bankruptcy

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What exactly is “Keeping up with the Joneses”?

 

“Keeping up with the Joneses” is a phrase that originates from a 1913 New York Globe comic strip by Arthur (Pop) Momand. The use of this coined phrase now refers to the actions of striving to keeping up with one’s neighbors in reference to social status and spending. “Keeping up with the Joneses” sometimes begins to happen for an individual when they bear witness to a neighbor or loved one coming into a large financial windfall – perhaps by winning the lottery. The neighbor may start to spend their newfound money on luxuries like cars, vacations, clothing, etc. This inspires said person to begin spending money outside their means to compensate for jealousy of the newly rich neighbor. Unfortunately, these actions can lead to debt, financial crisis, and bankruptcy.

 

Take the story of NJ lottery winner Pedro Quezada, formerly from the Dominican Republic. Quezada was from Passaic, New Jersey, and winner of $338 million. After hitting the jackpot, Quezada (owner of a local bodega) proclaimed he was thrilled because he could properly take care of his family.  Spending immediately began, but maybe not in the exact way his neighbors anticipated.  He was constantly approached by frequent customers of his bodega and friends of his looking for handouts, some traveling from as far as Colombia. There were even several false reports on news outlets claiming he declared to pay the rent for his neighbors, and eventually this led to a falling out with them. In fact, Quezada was even sued by his live in girlfriend of ten years for half of his winnings a year after winning the lottery. Eventually Quezada’s attorney won the case because the couple had never been married therefore his ex-girlfriend was not entitled to any of the winnings.

 

Unrealistic expectations

 

Suppose you have a neighbor (or family member) who just won the lottery. They decide to throw a lavish party to celebrate and show off their windfall. Maybe they add in that in-ground pool they have always wanted, or purchase that car or boat they had been dreaming of, and while they’re at it they make upgrades to their landscaping and home. These types of actions can cause a trigger effect with neighboring individuals who begin to look for ways to get rich quick or take out a loan much larger than they are capable of repaying just to be able to unrealistically and irrationally upgrade their lifestyle to keep up with their newly rich friend or loved one. This is a common theme that leads more often than not to bankruptcy and financial crisis.

 

Managing your money well

 

Watching someone win the lottery may seem like a super exciting event, and you may feel inspired to make rash decisions which can then result in irresponsible spending. Our advice? Forget about “Keeping up with the Joneses.”

As an NJ bankruptcy attorney firm, we at Veitengruber Law focus on aiding individuals with managing their debt and finances more realistically to protect their assets in order to avoid bankruptcy. If you feel as though you are lost in your expenses and debts because you’ve tried to live beyond your means, please reach out to us PRONTO. We can help, and we WANT to help.

After Foreclosure: What is the Legal NJ Eviction Process?

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What is a Sheriff’s Sale in NJ?

At Veitengruber Law, we understand the intricacies surrounding losing a property or navigating the options one may have when their property is in jeopardy. Part of understanding New Jersey law and the legal NJ eviction process may also involve understanding what a Sherriff’s Sale is, and we can help.

 

A Sheriff’s Sale in NJ is a sale handled by a Sheriff that is ordered by a court when the owner has unsuccessfully paid the judgment. According to New Jersey law, a Sheriff’s Sale is navigated within the local rules of each County Sheriff’s Department, and takes place at each said office. Anyone interested in purchasing a Sheriff’s Sale property can easily find the list of real estate properties available online at the county court website or at the actual Sheriff’s Department during normal business hours.

 

A Sheriff’s Sale (when referring to real estate) generally involves a property that is in danger of/or in foreclosure. The property is sold “as is” and any money generated from the Sheriff’s Sale is applied toward the outstanding lien owed on the judgment. If someone were to become the highest bidder at the sale, they would be required to place a deposit on the property, while understanding the risk of losing the property and part of the deposit in accordance with New Jersey law. The risk of the buyer losing the property has to do with the New Jersey law that states the debtor has a 10 day redemption period in which they may try to pay the lien and recover their property or object to the sale formally through court. If the 10 day redemption period expires and the new buyer pays the the sale price in full, the transaction is deemed complete and the title will then be given to the buyer.


What Happens Next?

The process following a Sherriff’s Sale can be confusing and frustrating, but we can expertly help you navigate this next phase. Once the new owner is in possession of the deed to the home, they cannot simply “kick you out” – this is illegal and would be considered an Unlawful Detainer. New Jersey law has specific rules about the eviction process and the steps that must occur for official eviction to take place.

 

The first step the new buyer must take is to file for a Writ of Possession which allows the County Sherriff to evict any occupants of the home. The County Sherriff then has to deliver notice to the occupants, at which point you have several choices. You could wait out the 30-90 day time-frame and attempt to save money to be prepared to move out of the property. Another option for you may be to ask for “cash for keys” where the new buyer may be inclined to cover moving out expenses for you to leave the home sooner. Veitengruber Law could also help you navigate other options such as a hearing to stay the eviction in front of a judge where you would appear before the judge with valid concrete reasons to postpone the eviction. The final resort could be filing a bankruptcy petition, in which case an automatic stay would occur and the eviction process would be halted indefinitely.

 

How Do I Determine What is the Best Option?

 

Veitengruber Law can help you understand all of your options, and we strongly urge you to take advantage of our expertise! Call today for your FREE one-hour comprehensive consultation to start understanding what the right answer is for YOU.