Bush, Paulson, Bernanke and Congress May Be Looking Out for Wall Street...
But Who Is Looking Out for Herb and Harriet Homeowner?
Dallas, TX -
September 24, 2008 - Attorney Reed Allmand is fuming mad. "Unless this proposed $700 billion bailout contains language that helps people stay in their homes and avoid foreclosure, it must be considered an utter disaster and significant failure," says Allmand, partner in Allmand & Lee, based in Dallas, Texas.
If ever there is a time where the average, hard-working American homeowner needs a little help, it's now. Allmand observes, "The economy is a mess; the financial markets are near collapse; unemployment is at a 5-year high, and foreclosures are at record levels. To pass this bailout without including the proposals made by Senator Dodd would not only be unreasonable and irresponsible... but also unpatriotic and un-American."
Allmand, who is Board Certified in Consumer Bankruptcy comments, "Isn't this what our great Country is built on? We all work together, we all stick together and lend a helping hand to one another in time of need."
Among Senator Dodd's recommendations are the ability for homeowners to convert their Adjustable Rate Mortgage to a traditional mortgage with a repayment period of up to 40 years at a prime rate; waiver of credit counseling for debtors in foreclosure; and a waiver of fees or charges on a mortgage loan or secured loan.
W. Reed Allmand is a Board Certified Consumer Bankruptcy Attorney. He has been practicing for 7 years and has handled more than 3,000 bankruptcy filings. In September, 2008, his firm, Allmand & Lee filed 200 bankruptcies. To speak with Mr. Allmand or to schedule an interview, please call (214) 265-0123.