Monthly Archives: May 2017

How to Avoid Foreclosure and Keep Your Home

Foreclosure can happen quickly to anyone, including those with seemingly secure financial situations. A mortgage plan that doesn’t fit your needs, the loss of a job, or mounting debts can place your property in jeopardy. However, a notice of foreclosure doesn’t always mean you have to lose your home, there are multiple strategies to start paying off your mortgage debt and keep your home. Ways to Avoid Foreclosure Mortgage renegotiations: You can shop around for different mortgage rates, ask for a lower monthly payment from your provider, and consult the help of Federal Agencies to negotiate a more affordable amount of payment. Short sale: When the lender is trying to foreclose on your home, they are trying to turn around and resell it. If you receive an offer for your home, forward it to your lender and they may accept the offer to save time and money. This can save…
Read More »

Posted in Real Estate | Tagged , | Leave a comment

Can I Ask for Salary History When Hiring?

More states are introducing legislation aimed at eliminating the ability for employers to ask for salary history from applicants. Massachusetts, Philadelphia, and New York City have already passed laws. California, Mississippi, and Pennsylvania have introduced bills this year, and New Jersey may follow suit. Eliminating salary history questioning is designed to help close the pay gap between men and women, and minority and white employees. By continuing to pay employees the same amount over time, systemic wage discrimination of women and minorities can keep replicating itself. Certain questions can imply hiring discrimination and should be avoided. Questions That Should Not Be Asked to Job Applicants Are you disabled? What is your political stance? Are you married/do you plan to have children? How old are you? These questions are not explicitly illegal, but can lead to discrimination allegations against employers. Employers have to evaluate employees, but asking risky questions that bear…
Read More »

Posted in Business | Tagged | Leave a comment

Could Raising the Minimum Wage Affect My Business?

Much controversy has surrounded the recent push by many states to raise minimum wage levels to match an increase in the price of living across the country. People either think it will greatly increase the quality of life for entry-level workers, or create too much strain on businesses that rely on low-skilled labor. A recent article cited that over 60 restaurants in the San Francisco area have closed since last September, following minimum wage increases. In New Jersey, the minimum wage is $8.44, and Governor Chris Christie struck down an agreement to raise the minimum wage to $15, by 2021. 3 Ways Raising the Minimum Wage Could Change Your Business Employee loyalty: An employee getting paid more of a livable wage is most likely going to give you better performance and be more inclined to try to retain their job for a longer time. This could help the quality of…
Read More »

Posted in Business | Tagged , | Leave a comment

What Kind of Mortgage Should I Choose?

Taking out a mortgage is a serious commitment, and choosing the right one for your financial situation could be the key to a happy future. If you have found the home you want and have the finances to start making payments on it, ask yourself these questions when considering a mortgage. What Kind of Mortgage Lender Should You Choose? Mortgage broker: A mortgage broker networks with multiple mortgage lenders to find you the most convenient price and terms. The broker will often get a price that is better than if you went to the lender on your own, but will also charge you a fee. Wholesale lenders: These are banks or other financial entities that have the money to give out, but have a retailer interact directly with the customers to complete the deal. Portfolio lenders: This type of mortgage lender has their own money and can set their own…
Read More »

Posted in Real Estate | Tagged | Leave a comment

How to Set Up an LLC in New Jersey

Setting up a business in the United States is relatively easy by international standards: a Business Insider poll ranked the US number 11 in ease of starting a business amongst developed nations. Although this is relatively high on the list, there are still many permits and bureaucratic loopholes you need to jump through to start a business in this country. Below is a list of several of the things you will need to start a business in New Jersey. 8 Steps to Set Up an LLC in New Jersey Name: If you are starting an LLC, you need to include LLC or L.L.C. in your name. Some words require additional paperwork such as: bank, doctor, or engineer. Words that will confuse your business with a federal agency are restricted. You can do a name search online to see if your name and URL hasn’t already been taken. Registered Agent: You…
Read More »

Posted in Business Formation & Planning | Tagged | Leave a comment