0 comments on “Welcome to Bergmann Law LLC”

Welcome to Bergmann Law LLC

Bergmann Law, formerly Bergmann Good, announced today that Renee Bergmann is taking the helm and resuming the Business & Real Estate Practice in the Firm’s Westmont, New Jersey office.  Bergmann takes control of the firm following 17 years of practice at various firms ranging from small, 14 lawyer firms, to an International firm of more than 800 lawyers and resident in offices from Philadelphia, Pennsylvania to New York, New York as well as right here in Camden County, New Jersey.

“It feels like I’ve come full circle and will begin practicing law while maintaining control of all cases as well as management of the Firm.  As technology continues to change at a lightening pace, it changes the way businesses operate and Bergmann Law will not only counsel clients on the protection of their – information – it will have the most up-to-date case management and back office systems that lead to both efficient and high quality work product. The Firm will help clients meet the rapidly changing business environment by leading the way with cutting edge technology of its own.”

Bergmann Law also offers a robust and expansive real estate practice. Working collaboratively with both you and your Realtor through the residential or commercial sale process leads to smoother transactions with better results.  The Firm also regularly works with real estate investors regarding all aspects of the business.  Renee Bergmann stands uniquely qualified to represent you in your real estate transaction, as both a licensed New Jersey Realtor, active real estate instructor and investor, she understands both the legal and practical aspects of negotiating and closing a deal.

Bergmann Law will continue to serve its business clients as “inside counsel from the outside,” offering advice and support to small and mid-size companies – companies without the budget for in-house counsel, but sophisticated enough to know good advice and support are necessary for business stability and growth.

The Firm culture is one of technology integration with efficient and high quality results.  Danielle Bergmann, a graduate of St Andrews University in Scotland acts as both legal support and office management.  Her research background and experience on the tech side lends just the right balance to the Firm.

Renee Bergmann has previously served in leadership roles in both the Pennsylvania Bar Association, the National Association of Women Lawyers and the Philadelphia Bar Association.  She was an adjunct faculty member at Arcadia University, has spoken at Rutgers-Camden School of Law, the American Bar Association and most recently continuing education classes at the Real Estate School.  Ms. Bergmann has extensive Real Estate and Business experience from transactional to high stakes litigation.  She earned a J.D. from Rutgers-Camden School of Law, and her B.S.H.S. from Thomas Edison State College in Trenton, where, at the time of commencement, she had earned her degree faster than any graduate in the university’s history.

Bergmann Law strives to take complicated issues and offer simplified results.  Call us and see what we can do for you.

0 comments on “If Your House is Worth Less Than You Owe, Let’s Talk About a Short sale”

If Your House is Worth Less Than You Owe, Let’s Talk About a Short sale

The process of selling your house is stressful enough in a normal situation, but in the event of a short sale the process may seem completely overwhelming. First, what is a short sale you ask? Simple, if you owe more on your house that it is worth, you should consider a selling it for less than is owed.  Or, perhaps you have lost your job and foreclosure is inevitable.  Both of these life stressors can be alleviated by selling your house and moving on.  Of course, in order to do this successfully, you need the cooperation of your lender.

Next question – why bother? Easy, a short sale has a much less negative impact on your credit than either deeding it back to the bank, or losing it in foreclosure.  In other words, it is in your best interest to be proactive when you are faced with negative equity or a job loss.

First, talk about the options with us.  Circumstances will vary depending on the value of your home, your lender, and any other liens on your property.  In other words, do a complete evaluation of your particular hardship circumstances.  Do not make the critical mistake of waiting and hoping for better days.  Eventually the foreclosure notice will come in the mail.

  1. Understand the Process

Although there is a sharp divide in both practice and opinion, we believe being represented by an attorney is beneficial in any real estate deal, but in the case of a short sale, a lawyer experienced with short sales is critical. Once a lawyer establishes you are qualified, you will complete your lenders forms and your lawyer will communicate with the bank as well as oversee the listing and sale process.

Notice that with a short sale it’s very important to talk about a short sale BEFORE you list the property.  Other options exist, and they should all be explored with counsel before you list your home for amount of the mortgage balance and hope for the best.  A thoughtful strategy is the most successful way to short sell your home and move on.

  1. Make sure your real estate team knows what they are doing

In the event that you need to short sell your house, engaging a lawyer in advance of listing your home allows you to build the team to work together toward a common goal. Real estate agents with short sale experience are what you need.  Not an agent acting as a quasi-lawyer.  That scenario can get everyone in trouble. Short sales require a cooperative bank, a patient buyer, and a bit of luck. Experienced real estate agents will be better equipped to deal with problems as they arise and will likely be able to warn you at the beginning of the process about the most difficult parts of the process. Having a great real estate agent can also ensure you are selling your house quickly, because in a short sale price does not matter to you, only your lender.

  1. Be Patient!

Short sales require lender approval, which often is slow to come. In the event you do have an interested buyer you will need your agent working hard on the deal, but you also need to be aware the deal may fall through if your buyer finds another property.

  1. Understand what comes next

You attorney can not only help you through closing, they can also help you understand the aftermath of the sale. In the event a bank is willing to negotiate a release, you may be able to get out of any money you owe beyond the sale price of your property.  This is essential and usually the primary reason to fully participate in the sale process.  Working with an accountant or financial adviser is also something to consider to help you deal with and understand any remaining debt and/or tax consequences you may face after the short sale is complete.

If you are facing difficulties and fear foreclosure is in your future take control of the situation before it is out of control.  Evaluate your options early and often.  Surround yourself with qualified professionals.  Give us a call at Bergmann & Good if this sounds like something you need to discuss.

0 comments on “All in the Family (Business)”

All in the Family (Business)

Owning a family business can be one of life’s most rewarding endeavors. Not only can you enjoy success in your profession, you can also pass it along to your nearest and dearest when you choose to retire or at the end of your life. However, you also have to make sure your family business stays in the family.  Here at Bergmann & Good, we strongly advocate setting up your business the right way and re-visiting those operational documents as you grow, expand or simply as time goes on (and laws and statutes applicable to your business change). Operating Agreements and clear formation documents are all important parts of owning and operating your own business, but what about the later years? If you’ve set up your business properly, you should make sure that the next generation gets the best possible chance to succeed as well. Here are a few things to keep in mind when building a succession plan for your family business:

Who is going to take over?

A business should have a clearly defined structure. If you want a family business to survive passing down to the next generation (something that statistics show is often unsuccessful) you should ensure someone is lined up and ready to take over. They should be aware of all facets of the business and understand how runs. It is also worth informing the rest of your family and your employees about who their next boss might be rather than keep it a surprise.  Nobody likes a surprise.

Who is going to assume financial responsibility?

A family business can also involve members who are solely investors rather than involved in the day to day operations. Any succession plans should also involve the input of investors as they have a financial stake in the business. Any changes need to follow the rules of the operating agreement or formation documents used when the business was first established.

Is the business going to stay in the family?

If there is no one who wants to take over the business, then your succession plan could be to just sell the business and leave your family to split the proceeds. However, you should inform your family members this is your plan since selling a business can be a long undertaking. You should have a business attorney already lined up for your family to contact in the event this is your plan, that way they will have to do as little work as possible in the event of a family tragedy.

You’ve worked hard to build you family business and you’d like to have it offer opportunity and prosperity to your family and future generations.  Make sure you know what is going to happen after you are no longer around to run things. Give us a call, and protect your legacy.  Your Grandkids will thank you.