We are very proud to announce that Daniel Barli has once again been selected as a New Jersey SuperLawyers' Rising Star for 2015!!

http://www.superlawyers.com/new-jersey/lawyer/Daniel-Barli/06671f42-64a6-4520-b803-c593f956f530.html

Read about the selection process:http://www.superlawyers.com/about/selection_process.html


Daniel Barli, Esq.
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N.J. fourth in nation in number of vacant foreclosures

.MARCH 14, 2014

BY KATHLEEN LYNN

STAFF WRITER | 

THE RECORD

February level doubles from year earlier

New Jersey continued to deal with a backlog of distressed properties in February, ranking fourth in the nation in both the number of vacant foreclosed homes and the number of foreclosure filings, a company that tracks the market reported on Thursday.

While the worst of the foreclosure crisis has passed in most of the nation, New Jersey foreclosure activity doubled from February 2013 to February 2014, according to California-based RealtyTrac. About one in every 739 housing units in the state faced a foreclosure filing during the month. At the same time, overall foreclosure activity dropped 27 percent in the U.S. overall.

And in New Jersey, 8,595 homes were vacant and in foreclosure, up 24 percent from the third quarter of 2013.

"The biggest threat from foreclosures going forward is properties that have been lingering in the foreclosure process for years, many of them vacant with neither the distressed homeowner or the foreclosing lender taking responsibility for maintenance and upkeep of the home," said Daren Blomquist, vice president of RealtyTrac.

"These properties drag down home values in the surrounding neighborhood and contribute to a climate of uncertainty and low inventory in local housing markets."

New Jersey's foreclosure process is one of the slowest in the nation, taking more than 2 1/2 years, on average. One reason is that New Jersey is among about two dozen states where foreclosures go through the courts.

However, the mortgage industry has begun moving a large backlog of distressed properties that piled up in the state while the industry dealt with questions about whether it abused homeowners' rights in the rush to evict.

Read the entire article here and let us know how we can help you take advantage of these opportunities.

Daniel Barli, Esq. 

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Boomerang home buyers are coming back

By Ben Rooney, January 27, 2015

NEW YORK (CNNMoney)

Millions of Americans who lost their homes during the foreclosure crisis are now poised to become homeowners again.

That's according to a new report from RealtyTrac, which estimates that 7.3 million so-called "boomerang buyers" will return to the U.S. housing market over the next eight years.

Foreclosures and short sales skyrocketed after 2007 during the darkest years of the financial crisis and Great Recession. But with the economy gaining momentum and hiring picking up, many foreclosed on homeowners are in a position to buy again.

Half a million home buyers: Homeowners can recover from foreclosure in as little as three years, but seven years is the "conservative" amount of time it takes to rebuild a credit score, according to RealtyTrac. That means many homeowners who lost their homes in 2007 should be able qualify for a new home loan this year.

More than 500,000 people will fit this description in 2015, according to RealtyTrac. The number jumps to 1 million next year, peaks at 1.3 million in 2018, then tapers off by 2022. Read the entire article here and let us know what we can do to help you get back into a new home.

Daniel Barli, Esq. 
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Adding Value to Your Home

Following these 10 tips will help to add value to your home and increase your chances of a sale.

The Top 10: Tips to Add Value to Your Home

1. Clean, organize, and neutralize your space: Unclutter your house to make it look bigger and cleaner. Buyers need to be able to envision their own belongings in the home; so, avoid using bright colors and too many personal effects.

2. Keep Your Lawn Green: Get your lawn in shape. A patchy lawn takes away from the home's overall appearance. Your local hardware store has supplies to re-seed those unhealthy areas.

3. Add insulation to save energy: The most inexpensive way to increase your home's energy is to add insulation, which can reduce heating and cooling costs by more than 25%.

4. Update kitchen appliances: The kitchen is often the room that buyers gravitate towards first, and an updated kitchen can help sell your home. You don't have to remodel your kitchen to give it a new look. Updating your appliances to the current standard and replacing cabinet doors and hardware can make a big impact at a relatively low cost.

5. Update bathroom fixtures: A little change can go a long way when it comes to the look of your bathroom. Updating simple fixtures such as your sink and faucet can give any outdated bathroom style.

6. Build a fence: If you're trying to sell a house, the appearance of a fence adds value to the home overall. Buyers with children or pets will appreciate the privacy and security of an enclosed backyard.

7. Repair the gutter: Ensuring that your gutter is clean is crucial in protecting your home against water damage.

8. Light up the outside: An easy and inexpensive way to increase your home's outdoor space is to add lighting. It makes it more appealing and safer.

9. Store and organize: Ample storage space is a plus, especially when it comes to garages and closets. Efficient closet structures can help keep your clothes organized and can save space.

10. Polish off the basement: Rather than adding an additional room, it is more cost-efficient to remodel your basement. This adds value and usable space.

(c) Century 21

Daniel Barli, Esq. http://www.barlilaw.com
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The Benefits Of Short Selling A Property After Bankruptcy

Posted by Stephen Hachey, written July 4, 2014

When it comes to the big picture, a bankruptcy filing comes with its own list of benefits.  From curing deficiencies to offering debtors a fresh start, bankruptcy can raise insolvent borrowers from the murky waters of bad debt and put debtors back on the righteous path to creditworthiness.  But without a proper strategy, the road back to solvency can be long and hard.  It’s no wonder then that many savvy borrowers are opting to short sell after their bankruptcy discharge.

If you’re among the thousands of debtors who’ve surrendered their homes in a recent bankruptcy, you may be wondering, what’s the point of entertaining a short sale? The bankruptcy has essentially wiped your obligation on the home, so why bother?  Let’s examine some of the numerous ways in which short selling after a bankruptcy can work to your benefit.

It’s not over…

Though you may be relieved to know that you’re no longer liable for the mortgage payments, it may frighten you to find out that caring for the home remains your responsibility.  That’s because, while your personal liability for the debt was eliminated, your name is affixed to the property until your lender has the property foreclosed.

A short sale puts you in control!

A short sale enables you to take the wheel, helping you get rid of the property much more quickly than passively waiting for your lender to foreclose.  Lenders often drag their feet on foreclosures, leaving you to hang in the balance.

In the meantime you will be responsible for the home’s utilities, maintenance, HOA fees and the like.  Not to mention, remaining on the title will make it extremely difficult to qualify for new a mortgage loan anytime soon.

More time at home and less time in wait

For bankruptcies that end in foreclosures, the “seasoning” or waiting time a borrower must wait before qualifying for a new mortgage loan can range anywhere from three to seven years; while the seasoning period after a bankruptcy and short sale can be as little as twelve months!  As a side bonus, initiating a short sale can buy you additional time in your home (at no cost to you!) until the transaction is finalized.

Bottom Line

No matter the type of bankruptcy, having a short sale after a bankruptcy discharge can truly be a benefit to your emotional and financial well being by making the best out of an otherwise unpleasant situation.  A short sale will expedite the recovery time and will result on a much smaller hit on your credit.  If you are considering bankruptcy, or need further guidance on whether a post-discharge short sale is right for you, consult with an experienced bankruptcy attorney to explore your options in greater detail.

Daniel Barli, Esq.

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We are pleased to announce that Daniel Barli, Esq. was named one of New Jersey's “Rising Stars 2014” by Super Lawyers Magazine!

http://www.superlawyers.com/new-jersey/lawyer/Daniel-Barli/06671f42-64a6-4520-b803-c593f956f530.html


(Required Disclaimer: “No aspect of this advertisement has been approved by the Supreme Court of New Jersey")


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 Ticking time bombs in your home (cont)

By Christopher Solomon of BobVila.com

Here is the remainder of last week's post about the ticking time bombs in your home:

Septic system
Why it’s explosive: Homeowners who have septic tanks don’t always like to think about them, Loden says. That’s a mistake. “A septic tank is gonna work until the day it quits,” he quips.

Generally speaking, a septic system breaks down the solids and liquefies them. The liquid then goes out into lines and is dispersed into the surrounding ground. But other materials also reach the septic tank — from sanitary napkins and cigarette butts to foodstuffs such as coffee grounds and grease (particularly if you have a garbage disposal). Over time, the baffles that stop the larger solids from going into the lines can get blocked. If that happens, the system can back up into your house. “That’s not a ‘check engine’ light; that’s an ‘engine failure’ light,” Loden says. “That’s when you end up with a backhoe in your yard.”

Snuff the fuse: If you have a septic tank, have the tank pumped every five years — “and if you have a garbage disposal, you might want to have it done every three years,” Loden says. In Loden’s area of the South, the cost is “between $300 and $500,” he says. “It’s really relatively inexpensive to have it pumped. A lot of those guys will pump it and inspect it at the same time.” It’s particularly cheap when compared with the cost of digging up your yard to repair your system, which can run thousands of dollars.

Old electrical systems
Why it’s explosive: Homes built after World War II, as well as homes built earlier, “didn’t have the same requirements for power that we do now,” Loden says. Homes built today can’t have more than 12 linear feet of space between electrical outlets. This stipulation was intended to minimize the use of extension cords, which can cause fires. The electrical systems of older homes, particularly those outfitted with lots of appliances and amenities, just can’t handle modern electrical demands. Sockets can actually wear out, and switches, too. Breakers become less reliable as they age. The upshot can be a fire.

Snuff the fuse: "Probably every 20 years,” a home should have a thorough inspection of its electrical system, Loden says. Homes built prior to 1980 should definitely be looked at, “and another break point in my region — the Deep South — is 1965. There were a lot of improvements in the 1960s,” he says. You could call an electrician, although Loden cautions that “an electrician may see it as a sales call. Like any trade, they’re there to fix things.” Another alternative: Consider calling an experienced home inspector.

Crawl space 
Why it’s explosive: Few homeowners ever pay attention to their crawl space, that often dank, dirt-floored area beneath many homes. “And why would they?” says Jacques, of ASHI. But you should, because the crawl space is sort of a window into the belly of your home and all its inner workings, he says. It could reveal all sorts of problems before they get bigger:

“You might have a leak in the bathroom under the commode or in a supply line that could be weakening the floor,” Jacques says, and you’d never know it until the day a sag appears in the floor and you need major repairs.
Termite damage can usually be seen there before it appears elsewhere.
Many crawl spaces carry the heating and air-conditioning ductwork that runs throughout a house. But when repairmen clamber about in this cramped space, over time “they might cause some damage to the insulation or to the ductwork. So you could be pumping your nice cold air into the crawl space itself,” Jacques says.
Snuff the fuse: Jacques recommends that a homeowner periodically spend a few minutes with a flashlight looking inside the crawl space as a precautionary measure.


He also recommends occasionally hiring a home inspector to do a more thorough examination of the space. An inspector can look for leaks in plumbing and find faulty or damaged ductwork and worrisome wiring. As well, while often not licensed to inspect for termites, an inspector usually knows enough to point out suspected trouble and recommend treatment or repair.

Read the entire article here.

Daniel Barli, Esq.

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