Georgian Attorney David Galler encourages homeowners to take advantage of the loan modification programs available, before they expire.
Galler Law, LLC
HomeSafe Georgia is a federally-funded, state-operated mortgage assistance program that helps homeowners avoid foreclosure.
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SANDY SPRINGS, GA (PRWEB) AUGUST 31, 2015
The Federal Housing Finance Agency (FHFA) has extended the Home Affordable Modification Program (HAMP), which was originally set to expire in 2015, to at least the beginning of 2016. The reason for the extension deals with the popularity of the program among homeowners.
This includes HomeSafe Georgia, which has been funded with $339 million for Georgia homeowners in need. “HomeSafe Georgia is a federally-funded, state-operated mortgage assistance program that helps homeowners avoid foreclosure,” according to the HomeSafewebsite.
David Galler, of Galler Law, LLC, focuses on debt management and loan modification. He encourages those behind on a payment or soon-to-be behind on a payment, and are unemployed or underemployed homeowners eligible for the HomeSafe program, to apply as soon as possible.
According to the U.S. Department of Housing and Urban Development, a loan modification is a permanent change in one or more of the terms of a borrower’s loan that allows the loan to be reinstated, and results in a payment that the borrower can afford.
“Home modifications are a powerful tool to help struggling homeowners avoid foreclosure without filing for bankruptcy,“ said Galler. Although, some have their doubts about loan modification versus bankruptcy, Galler is well-versed on the benefits of each and as an experienced bankruptcy attorney, who has filed hundreds of confirmed bankruptcy plans, he can advise his clients on which plan is best suited for their needs.
Galler’s firm can help clients modify their loans so that missed payments would be due at the end of the loan term; reduce monthly payments and interest; as well as reduce principal loan balance. Through loan modifications, homeowners can avoid foreclosure.
“This is not a regulated industry, so anyone could say they can help you,” said Galler. “We have been doing debt work for over 30 years and our track record shows we have been practicing heavily for the last two years with an amazing success rate.” The program can reduce payments to 31 percent or lower of the homeowner’s pre-tax monthly gross income.
There also loan modification programs that can lower interest rates, convert an adjustable mortgage to a fixed rate and even reduce a principal balance, if the property value is significantly less that loan balance.
About David Galler, Galler Law, LLC
Galler Law, LLC has been serving Atlanta and all of Georgia for over 27 years in bankruptcy, workers’ compensation, student loan debt and mortgage modification cases. They work with each client to ensure that their individual needs are met. They provide the kind of personal service not found at most larger firms. For more information visit: https://gallerlaw.com. Galler Law offices located at 750 Hammond Drive Building 6 – Suite 100, Sandy Springs, GA 30328