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

From the WSJ: Revised Bill Lets FDIC Borrow Without Limits The Senate financial market rescue bill would temporarily allow the Federal Deposit Insurance Corp. to borrow unlimited amounts of money from the Treasury Department in connection with the larger government deposit coverage that would extend until the end of next year.This is important because it would increase the backstop that the FDIC has to make sure that insured depositors can be repaid if their bank fails. full text of the revised bill. This could really help preven the "run on the banks" that many are fearing and prepare the FDIC for more bank failures. I like this move... 10/01/2008

Marlon G. Cook, a regional manager in the Federal Deposit Insurance Corp. in Atlanta, told those at Tuesday's Coastal Economy Outlook conference that Alabama's financial and real-estate markets are doing better than most of the country. Cook predicted mortgage credit would "remain under tremendous pressure until the end of the year and into 2009." But, he added, Alabama is doing "relatively well" compared to its neighbors in Florida and Georgia, and when compared to the nation. "We find good news with ThyssenKrupp, which will bring in about 3,000 jobs," he said. The German steelmaker is building a $3.7 billion steel plant in north Mobile County that is set to open in 2010. Consumer spending is better in Alabama than in the rest of the Southeast, according to Cook. Mortgage credit condit... 10/01/2008

I never thought I would see the United States being led around by our nose by leaders of foreign governments because WE owed them so much money, but it has happened. I am concerned about the signal being sent... From Bloomberg: "European Central Bank President Jean- Claude Trichet said U.S. lawmakers must pass a $700 billion rescue package for banks to shore up confidence in the global financial system. ``It has to go, for the sake of the U.S. and for the sake of global finance,'' Trichet said in an interview in Frankfurt with Bloomberg Television late yesterday. ``I am confident, but of course it is the decision of the U.S. Congress.'' Click here for the entire article http://www.bloomberg.com/apps/news?pid=20602007&sid=aRJToi7NKwSQ&refer=govt_bonds   10/01/2008

1. Get the right mindset. Once you list your home, detach yourself. 2. Start at the curb. Look at what people see when they pull up. 3. Paint -- it's money in a can. 4. Focus on the entry. 5. Catch up on maintenance. Get around to the repairs you should have been doing all along. 6. Look for alternatives to expensive or messy upgrades. 7. Consider new appliances. 8. Add some house bling. Make anything metal in your home look new and shiny. 9. Start packing. "The average home would show much better if it had 50% less stuff," 10. Remove the "you" factor. Sorry but home buyers don't care about your trophies, your hobbies, your taste in art or your photos. 11. Clean house. 12. Banish smells. 09/30/2008

Breaking News! From NY Times blog: "Citi assumes Wachovia banking operations for $1 a share, a move that that would concentrate power within the nation's banking industry in the hands of a few giant lenders, The New York Times's Eric Dash and Andrew Ross Sorkin reported Monday morning. The Federal Deposit Insurance Corporation said in a statement on Monday that Citigroup will assume Wachovia's senior subordinated debt, and emphasized that Wachovia did not fail." 09/29/2008

From the NY Times: Citigroup and Wells Fargo Said to Be Bidding for Wachovia Citigroup and Wells Fargo were locked in a bidding war on Sunday over a possible emergency takeover of the Wachovia Corporation ... The government, led by the Federal Reserve and Treasury Department, has been involved in the talks as well ... The government has ... opposed taking over Wachovia the way it did Washington Mutual earlier this week, these people said, unless its financial position deteriorates more rapidly....Citigroup and Wells Fargo are unlikely to bid more than a few dollars per share for Wachovia 09/28/2008