Since this credit crisis, I have thought what we need is more education regarding financial matters. We, at the Manders Group, have decided that we would like to help high school kids in our area, state and region become more financially educated. We are donating a $200 scholarship to the "Secure Student" for any parent with a high school child that would like to enroll in this program. I have become very active in the Financial Education community and feel that this is a way to give back. Read about the program below and e-mail me(e-mail address on the right side of this page) so I can give you the code for the $200 discount... Here is a recent blog at the "Frugal Dad..." The following guest post is from Mike Young, Founder and CEO of The S.E.C.U.R.E. TM student program.  You can learn... 10/20/2008

The  phrase "Buyer Beware" is appropriate when considering the purchase of a fixer-upper.You need to know exactly what you're getting into before buying.  It's commonly believed that fixer-upper properties represent easy money that is ripe for the taking - that you can buy it, do a little work on it in your spare time, and then resell quickly for a large profit.  With proper planning and foresight, good profits can be made by buying "distressed" properties at less than market value, making appropriate improvements and repairs, and then reselling.  And for many first time buyers who intend to live in the house while working on it, buying a fixer-upper can be a good option.  It's less risky buying a fixer-upper when you can live in the house while fixing it.  If this is your option look i... 10/20/2008

Quiet Neighborhood/ Convenient Location/ Great Rental Investment! This beautifully remodeled 4 Bedroom, 1 Bath Home sits on a 1 acre, partially fenced lot at the end of a cul-de-sac. This home has an updated kitchen and gorgeous new hardwood floors, tile and carpet. There is also a new A/C unit and heat pump. A new 12x25 wood deck in the back and a large storage building. You MUST SEE this home! $85,097 1431 ORCHARD DR W MOBILE, AL 36618 10/18/2008

Cumlative Sales 2008 Sales Mobile Alabama 2008 Month Year Monthly Sales Avg ListPrice Avg Sale Price % Diff Sell/list Avg DOM Current Inventory Months Inventory January 2008 147 $133,264 $129,937 97.50% 73.0 1404 9.55 February 2008 179 $160,481 $156,353 97.43% 79.0 1454 8.12 March 2008 195 $154,621 $151,090 97.72% 79.0 1495 7.67 April 2008 196 $169,890 $165,614 97.48% 77.0 1500 7.65 May 2008 264 $169,225 $163,358 96.53% 88.0 1525 5.78 June 2008 221 $184,615 $181,564 98.35% 92.0 1573 7.12 July 2008 206 $165,212 $161,520 97.77% 74.0 1567 7.61 August 2008 180 $156,306 $152,080 97.30% 73.0 1581 8.78 September 2008 169 $161,381 $158,114 97.98% 85.0 1591 9.41   Total 2008 1757 $161,666 $157,737 97.57% 80.0 1,521 7.97   Total 2008-2008 1757 $161,666 $157,737 97.57% 80.0 1,521 8.00 10/17/2008

When the U.S. government first took conservatorship of Fannie and Freddie, rates started to plummet as bond purchasors decided that with the "implicit" guarantee for mortgage backed securities they would receive  a better yield than comparable treasuries. This was true and investors flocked into MBS's, driving rates on a 30-year fixed to below 5.375 for a few days, but this trend has reversed and here is why...  From the Financial Times: US mortgage rates have soared this week in an unexpected reaction to the latest Treasury financial rescue plan, which has prompted investors to buy bank debt and sell bonds backed by home loans.Interest rates on 30-year fixed-rate mortgages, as measured by Bankrate.com, rose to 6.38 per cent on Thursday from 5.87 per cent last week - before the Treasury... 10/17/2008

Every housing market is unique. The National Association of Realtors has created Local Market Reports (LMRs) for 153 of the largest metropolitan areas of the country.  The Local Market Reports reflect data available through September 2008 and provide insights into the fundamentals and direction of the nation's largest metropolitan housing and real estate markets. Each downloadable report evaluates a number of factors affecting home prices, including: The health of the local job market Foreclosure rates Housing inventory Debt-to-income and mortgage-servicing-costs-to-income ratios We have downloaded the report for Mobile and will be happy to send you a copy.  If interested, please send us an e-mail and request free Mobile AL Metro Market Report. 10/15/2008

Patience is a virtue, and a necessity, when buying a foreclosed home. Use this comprehensive Web site to help you navigate through the Gulf Coast real estate landscape    http://mobile.alabama.mls.searchrealestatehomesforsale.com  see top of page for link to the area's lender foreclosures  But lenders selling properties often are just asset managers, not really owners. A deed may bear the lender's name, but because banks and other lenders sell loans into the secondary mortgage market, the real owner of both the loan and property is often hidden. The lender "doesn't have to tell you who you're actually dealing with," They keep it a complete mystery to keep control. And if the loan carried private mortgage insurance, its guarantor may also need to sign off. "Realtors are used to 24 to 48 ... 10/14/2008

                   http://mobile.alabama.mls.searchrealestatehomesforsale.com  If you are looking to buy or sale a house in Mobile Alabama ,please use our EZ home search above.   Whether or not you can live comfortably with the amount of your suggested monthly mortgage payment is a decision best made by you, the buyer. Housing Expense RatioA general rule is that your monthly mortgage payment should be less than or equal to 25% of your gross monthly income. Depending on the type of mortgage you choose, this percentage may change. However, there are mortgage products available that focus specifically on the debt-to-income ratio, and more information on these types of mortgage products can be provided by your lender. Debt-to-IncomeFactors such as your income, debt and credit history direc... 10/14/2008

                            http://mobile.alabama.mls.searchrealestatehomesforsale.com                Use our EZ and free real estate search link above to buy or sell your next home.  Hunting for a house can be an overwhelming experience.  It is easy to forget one house after seeing so many.  Don't become frustrated when you don't immediately find your dream home.  On the other hand, the thrill of the hunt can distract you from essential wants and needs. PICTURE IT: Take photos of the house to keep on file. USE TIME WISELY: Don't make "spur-of-the-moment" decisions. Consider the decision carefully. Take your time in selecting your home. GET IT IN WRITING: Take notes about what you see, like and don't like in the house. COMPARE AND CONTRAST: Review your notes, and compare houses against ... 10/14/2008

A home is one of the largest financial commitments that a person will make during their life, and many people view their home financing as meaning just another monthly payment.  Not Benchmark or Gena  !  Gena understands that it's not just a house, it's your home.   Gena is truly passionate about her profession, and a result that nearly 100% of her business is by referral from satisfied clients, trusted financial advisors and the most experienced realtors in Alabama.  Her Team with many years and a wide range of experience in the mortgage industry, stand's ready to assist every step of the way.  She said her clients only think about home financing a few times during their lives ~ I think about it every single day.  It's their home and their future.  It's my profession and my passion.  I... 10/14/2008

  If you are looking to buy a home in Mobile AL, please use our EZ MLS search home finder.  See over 5000 homes in our area http://mobile.alabama.mls.searchrealestatehomesforsale.com To help better serve you, analyze what you want and what you need in a home's features and amenities.Features: Age: Do you prefer historic properties, or newer ones? Style: Do you have a special preference for ranches, bungalows, or another style of construction? Bedrooms: How many? Bathrooms: How many? Are they updated? Living and Dining Areas: A traditional, formal layout, or a more open, contemporary plan? Stories: How many? Square feet: How much space? Ceilings: How high? Kitchen: How big? Recently updated? Open to other living areas? Storage: Big closets, a shed, an extra-large garage? Parking: A garag... 10/14/2008

Here is the latest announcement from the Treasury, Federal Reserve and FDIC...   Joint Press Release Board of Governors of the Federal Reserve SystemU.S. Department of the TreasuryFederal Deposit Insurance CorporationFor release at 8:30 a.m. EDT October 14, 2008 Joint Statement by Treasury, Federal Reserve, and FDIC   Washington, DC-- The following statement was made by Treasury Secretary Henry M. Paulson, Jr, Federal Reserve Chairman Ben Bernanke and FDIC Chairman Sheila C. Bair: Today we are taking decisive actions to protect the U.S. economy, to strengthen public confidence in our financial institutions, and to foster the robust functioning of our credit markets. These steps will ensure that the U.S. financial system performs its vital role of providing credit to households and busin... 10/14/2008

The HOPE for Homeowners  program was created by Congress to help those at risk of default and foreclosure refinance into more affordable, sustainable loans.The program is effective from October 1, 2008 to September 30, 2011.How the Program WorksThere are four ways that a distressed homeowner could pursue participation in the HOPE for Homeowners program. Homeowners may contact their existing lender and/or a new lender to discuss how to qualify and their eligibility for this program. Originating lenders who are looking for ways to refinance potential customers out from under their high-cost loans and/or who are willing to work with servicers to assist distressed homeowners. Counselors who are working with troubled homeowners and their lenders to reach a mutually agreeable solution for avo... 10/09/2008

Check out a new home for sale located in Spring Grove subdivision in West Mobile.  It is located right down the street from the new Wal-Mart at Dawes Road and Cottage Hill Road.  10/09/2008

Press Release Release Date: October 8, 2008 For release at 7:00 a.m. EDT Joint Statement by Central Banks Throughout the current financial crisis, central banks have engaged in continuous close consultation and have cooperated in unprecedented joint actions such as the provision of liquidity to reduce strains in financial markets. Inflationary pressures have started to moderate in a number of countries, partly reflecting a marked decline in energy and other commodity prices. Inflation expectations are diminishing and remain anchored to price stability. The recent intensification of the financial crisis has augmented the downside risks to growth and thus has diminished further the upside risks to price stability.  Some easing of global monetary conditions is therefore warranted. Accordin... 10/07/2008

Please check out our new listing in the Hamilton Bridges subdivision in west Mobile AL area which is priced below market for quick sale. The like new home for sale is 1 year new and features both a front porch and rear porch and 2 car garage. Nice wooded view in backyard for privacy. 10/07/2008

Press Release Release Date: October 7, 2008 For release at 9:00 a.m. EDT   The Federal Reserve Board on Tuesday announced the creation of the Commercial Paper Funding Facility (CPFF), a facility that will complement the Federal Reserve's existing credit facilities to help provide liquidity to term funding markets. The CPFF will provide a liquidity backstop to U.S. issuers of commercial paper through a special purpose vehicle (SPV) that will purchase three-month unsecured and asset-backed commercial paper directly from eligible issuers. The Federal Reserve will provide financing to the SPV under the CPFF and will be secured by all of the assets of the SPV and, in the case of commercial paper that is not asset-backed commercial paper, by the retention of up-front fees paid by the issuers ... 10/07/2008

That is the question all Mobile Bay homeowners should ask themselves when they consider selling their home. The first item on the fix-it list: clear the clutter! If your closets, attic, basement, garage, and other storage areas appear neat, half-full and organized, your house will seem to have more storage space. To accomplish the clutter - clearing task, empty the house, hold a garage sale, and use the profits to help offset the next set of fix-it priorities. Check your house for "curb appeal". The exterior is the first impression a prospective buyer has of your home. Make it as inviting as you can. Think of it as outside decorating. Clean (or paint, if necessary) the exterior, re-sod brown spots and crab grass, mow the lawn, pull weeds, remove dead trees or plants, and trim the shrubs... 10/07/2008

The "HOPE for Homeowners Act of 2008" creates a new, temporary, voluntary program within FHA to back FHA-insured mortgages to distressed borrowers. The new mortgages offered by FHA-approved lenders will refinance distressed loans at a significant discount for owner-occupants at risk of losing their homes to foreclosure. In exchange, homeowners will share future appreciation with FHA. The program is built on five principles:1. Long-term affordability. The program is built on the idea, expressed by Federal Reserve Chairman Bernanke, that creating new equity for troubled homeowners is likely to be a more effective way to avoid foreclosures. New loans will be based on a family's ability to repay the loan, ensuring affordability and sustainable homeownership. 2. No investor or lender bailout... 10/06/2008

Press Release Release Date: October 3, 2008 For immediate release I applaud the action taken by the Congress. It demonstrates the government's commitment to do what it takes to support and strengthen our economy. The legislation is a critical step toward stabilizing our financial markets and ensuring an uninterrupted flow of credit to households and businesses. The Federal Reserve will continue to work closely with the Treasury as it undertakes these new initiatives. We will continue to use all of the powers at our disposal to mitigate credit market disruptions and to foster a strong, vibrant economy. 10/03/2008