Mariano & Coiro, P.C.
Over 30 years in Practice
Toll Free 800-800-9933
Local 732-249-7300

Somerset Bankruptcy and Real Estate Law Blog

Six tips that give you the advantage when selling your home

Ever notice how many different kinds of cereal are in the cereal aisle in your local grocery store? The real estate market is a lot like that, and your home is just one box of cereal in that appealing wall of colorful boxes. If you want to sell your home, how can you rise above the fray, make it stand out, and sell it quickly and for a good price? Here are six tips that can help:

How your credit score affects how much you'll pay for a home

A home is the largest purchase most people will make in their lifetime. And no one would claim that buying a home is an easy process. Negotiations, offers, counteroffers, qualification, down payments, mortgage rates, mortgage terms, and many other items are individual tiles in what turns into a rather complicated mosaic.

You understandably want to acquire the home for the lowest price possible, but negotiating a figure with the seller is only part of what determines how much you’ll ultimately pay (i.e., by the time you’re through with all of your mortgage payments). A critical factor that significantly affects what you’ll eventually pay for the home is your mortgage rate, which is in large part, determined by your credit score.

Six reasons why you should have a good Realtor

When buying or selling a home, it’s perfectly normal to want the best deal you can get–right? Many people think that trying to go it alone–without a Realtor–is a great way to save. After all, both the Seller and Buyer feel they can save thousands of dollars by buying/selling a home without Realtor assistance. However, often times, not using the expertise and experience of a Realtor may be the classic case of being penny wise, but pound foolish. In reality, the apparent “savings” are often nullified because the seller or buyer lacks the knowledge and experience to actually negotiate and consummate the best deal for various important reasons.

Here are six reasons why having a good Realtor on your side when buying or selling a home may actually be the better choice:

Can bankruptcy help with my tax debt?

Both Chapter 7 bankruptcy and Chapter 13 bankruptcy can offer relief from many types of unsecured and other debt, as well as help to reduce financial pressure from creditors that can reduce the quality of your life in a number of ways. However, bankruptcy's benefits are less certain for taxes than other types of debt. Just about everyone has heard of the saying about death and taxes being the only certain things in life; to a great extent, that saying is true. If you are behind on your taxes, it doesn't mean all hope is necessarily lost, but timing can make a big difference when it comes to how much of your tax debt can be eliminated with a bankruptcy.

In debt? Here's why you shouldn't raid your retirement accounts

Living under a heavy burden of debt can be incredibly stressful. Most people feel strongly about making good on their financial obligations, and will go to great lengths to climb out from under a mountain of debt. While attempting to repay outstanding debts makes sense in many cases, individuals should be mindful of how they approach debt repayment. When faced with large amounts of debt, many people are tempted to turn to their retirement accounts-whether IRA, 401(k), 403(b), 529 or pension--as a means of repaying their financial obligations. However, doing so can be financially devastating, both in the short and long term.

Fortunately, there are more practical ways to address debt problems while also maintaining financial security for the future. Personal bankruptcy is one option, and a choice that can make a world of difference for those who are struggling to repay debts. If you are struggling with financial matters, here are a few reasons why you should consider filing bankruptcy instead of using your retirement funds to repay your debts.

3 reasons to make debt relief part of your New Year's resolution list

Making ends meet is difficult enough. However, there are many people who struggle under an extremely heavy debt load, and getting out from under that financial burden is or should be a top priority. If you or someone you know is in this situation, then perhaps debt relief should be at the top of your New Year's resolutions list. If you are considering debt relief options, the following information may help you make 2017 the year you are finally liberated from an unmanageable debt burden by filing for personal bankruptcy.

3 things to avoid doing when you're preparing to file bankruptcy

Living under a heavy burden of debt is difficult. Many people feel stuck in their financial circumstances, and are unsure of how to dig themselves out of a dire situation. This sentiment is especially common around the holidays. For many in these straits, filing for bankruptcy and getting a "fresh start" may be the best possible course of action. Once the decision is made to seek bankruptcy protection, a huge sense of relief often follows. However, in order to insure your bankruptcy yields the desired results-the elimination of your debts--it is prudent to avoid certain actions before you file. The following tips are offered to assist individuals and families as they prepare to file for bankruptcy.

What you need to know about the Chapter 7 means test

Despite working hard, many people find that there is not enough money to go around at the end of each month. As a result, it is only a matter of time before bills and other financial obligations begin to pile up. If you are in this situation, you may have considered the options available to you, including filing a Chapter 7 bankruptcy.

Having researched Chapter 7, you may have been discouraged from pursuing it further, because you learned that you must pass a means test in order to get relief from your debts. You may have heard that the means test is difficult to pass and would effectively bar you from being relieved of your debts. Fortunately, this is likely not the case, as there are several myths and misconceptions about this aspect of bankruptcy.

Four reasons not to delay filing bankruptcy

When you are having financial problems, you may feel that there is a stigma attached to filing bankruptcy. As a result, many people try other options first, such as borrowing money on available home equity credit lines, cashing out retirement accounts or even borrowing money from family or friends, before considering bankruptcy. Unfortunately, in reality, doing any of these things instead of filing bankruptcy can come back to haunt you.

Although it is natural to view bankruptcy as a last resort, it is often the best option for those who are deeply in debt. Here are four reasons why you should not delay in considering bankruptcy as a solution to your debt problems:

Want to sell your home? Here's how to begin the process

Selling your home can be a time-consuming process that can quickly turn into a stressful and overwhelming experience. In many cases, you may also have to coordinate the sale and your move with the purchase of a new home, which can exponentially increase the stress. To help your transaction go as smoothly as possible, and to minimize your stress level, it is important for sellers to be as prepared as possible. Here's how to get organized: