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New Look, Same Great Service
By Casey A. Stoutamire
As you may have noticed, Gallagher & Associates has a brand new look! We now have a new logo, which you will see on all of our correspondence with you. Even though things may look a little different, we still are committed to offering you the best service possible. As our client, you are a priority and it is our goal to keep you up to date on the status of your case.
In addition, our website has been completely redesigned. To see the new design please visit us at www.attorneyoffices.org. Make sure to check back often as we continually update the site with information that may be helpful to you. |
Consumer Corner: The Dangers of the Adjustable Rate Mortgage
By Lindsay Brown
This year, the number of foreclosures reached a record high in Florida according to a September 7, 2007 New York Times article. A combination of adjustable rate mortgages, minimum-amount payments, purchase of homes at inflated prices, and small down payments have greatly contributed to the number of foreclosures in Florida.
The biggest culprit, however, rests with misleading or confusing introductory offers and information associated with adjustable-rate mortgages. The basic concept appears simple: an ARM is loan with changing interest rates. In essence, the borrower takes the risk that he may pay less than a fixed-rate mortgage if the interest rate does not change or drops. That risk, however, depends on a variety of economic factors.
Monthly payments may initially be lower than fixed-rated mortgages, but such payments can greatly increase even if the interest rate does not change. Additionally, borrowers may end up owing more money than initially borrowed even if payments are made in a timely fashion and paying off an ARM mortgage early can result in penalties.
Yet, ARM remain attractive to consumers for a variety of reasons. Introductory offers often lure consumers with offers such as 1% interest rates along with the promise of quick cash. Furthermore, some mortgage brokers and lenders fail to inform consumers of the downsides associated with such mortgages while the terms of the agreement remain shrouded in the dense and lengthy language of mortgage documents.
While lenders are required to give consumers written descriptions of an ARM loan such as the index and margin, limits on changes, and examples of the highest monthly payment, consumers frequently overlook such information.
Before taking out an ARM, ensure that monthly payments will still be affordable at the highest possible monthly payment in addition to how often and when the interests rates can change. It's also important to consider factors which can affect the ability to make monthly payments such as school tuition or car loans.
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Hurricane Season is Still Churning
By Casey A Stoutamire
The 2007 Hurricane Season is still in full swing. As always, we were continuing to keep you updated with helpful tips for preparing and recovering from a hurricane.
Please visit our revamped website for all of your hurricane needs, including assistance with claims. The new website is still located at www.ahurricaneattorney.com. You can also access it directly from our homepage, www.attorneyoffices.org by clicking on the link on the left hand side of the page.
Once you have linked to the new hurricane website make sure you click on the links page. This will takeyou to a site full of helpful information on what you need to do before, during and after a hurricane or other natural disaster.
These include preparation checklists concerning the health and safety of your family. There is also a final checklist for what possessions and documents you need to have with you in the event of a storm. Helpful articles regarding the impact to commercial leases and businesses. |
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G&A Legal Seminar Series
"Your Neighborhood Lawyer"
A Series of Free Seminars and Workshops on Everyday Legal Issues
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"Wills, Trusts and Living Wills: A Practical Overview"
Including Free Designation of Heath Care Surrogate
Wednesday, October 10, 2007
2:00 p.m.
Gallagher & Associates Law Firm, P.A. Offices
Please Call Ginny at 727-344-LAWS or email ginny@attorneyoffices.org to RSVP
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November 2007 Presentation:
Mortgage Fraud: How to Protect Yourself
December 2007 Presentation:
Homeowners Insurance Claims: Mold & Hurricanes
January 2008 Presentation:
Identity Theft and Credit Protection |
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Firm News & Notes
� Gallagher & Associates is sponsoring a team for the Race for the Cure on October 6, 2007 at Vinoy Park in St. Petersburg. Our team welcomes those who want to run/walk or you those who just want to make a donation. All walkers/runners will receive a special edition "Dropping our Briefs to Find a Cure" t-shirt.
� Starting in October, Gallagher & Associates will be holding a series of free seminars and workshops. October's workshop will focus on wills, trusts, and living wills. In November, we will discuss Mortgage Fraud. Please visit the website or call us for more information.
� Please join us in welcoming four new law clerks to our team, Sheryl Clark, Michelle Budniewski, Lindsey Kofed and Bobby Reynolds! Ms. Clarke is a second year law student at Stetson where she is a Public Service Fellow. Ms. Clark is an honors graduate of East Tennessee State University where she also earned her Masters in Business Administration. Ms. Budniewski is a third year law student and Masters of Business Administration student at Stetson. Ms. Budniewski graduated from James Madison University. Lindsey graduated from the University of South Florida and is a member of Stetson's Law Review. Bobby recently graduated from Stetson University College of Law and took the Florida Bar Exam.
� Additionally, the firm is pleased to welcome Anna Ouellette as a legal intern this fall. Anna is a senior at Eckerd College and will be attending law school after graduation. Anna is a Dean's List student at Eckerd and is president of Eckerd's Law Club. | |
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Gallagher & Associates Law Firm, P.A. accepts cases throughout the Tampa Bay area. Our main practice areas include: insurance litigation, real estate & business litigation, accident/injury litigation, consumer law, and employment litigation. |
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