Alright guys, who is man/woman enough to read this article in its entirety? I have linked the pdf version and it is 106 pages. Good luck and please report back with Cliff Notes... The Troubled Assets are initially limited to commercial and residential mortgages and instruments based on them. The Treasury has to go to Bernanke and get his consent and then write a note to Congress. http://money.cnn.com/2008/09/28/news/pdf/index.htm   09/28/2008

There seems to be a deal reached on the bailout bill. The House Republicans were conspicuously missing from the press conferences early this morning, but many people associated think this deal can get done... From the NY Times: Breakthrough Reached in Negotiations on Bailout Congressional leaders and the Bush administration reached a tentative agreement early Sunday...The bill includes pay limits for some executives whose firms seek help, aides said. And it requires the government to use its new role as owner of distressed mortgage-backed securities to make more aggressive efforts to prevent home foreclosures. In some cases, the government would receive an equity stake in companies that seek aid, allowing taxpayers to profit should the rescue plan work and the private firms flourish in ... 09/28/2008

Free Comprehensive Search of Mobile Alabama MLS http://mobile.alabama.mls.searchrealestatehomesforsale.com/ Use this comprehensive Web site to help you navigate through the Mobile Alabama real estate. I have created this Web site as a resource to help you make an informed decision about your real estate prospects here in the Gulf Coast area. With established roots in the Mobile community, I have interested buyers who would be excited to see your home. Selling your home with me, I am committed to treating you as more than the seller of a home. And in this you'll be able to trust that I will show your home to interested buyers who are looking at houses for sale. As a real estate agent who has your best interest in mind, I have also created this Web site to help you understand how to best ... 09/28/2008

Prior to closing, you would be wise to revisit the property to verify that it is in the condition you have outlined in your purchasing offer and to be certain that required repairs have been completed to your satisfaction. It is best to do this final inspection no later than 1-3 days before you plan to close. Be sure to have this right of a final inspection included in your bid to buy the home. This final inspection report should describe anything not to your satisfaction. Before your move in, even minor details such as scratches and incomplete paintwork should be addressed. After you settle in your home, the other items can be corrected. If you choose, you can hire a private building inspector or engineer to conduct the inspection on your behalf. During your inspection, address the fol... 09/28/2008

The Gulf Coast of Alabama and all its beauty is a great place to live, However the price tag has gone up. Homeowners Insurance has caused more buyers not buy, more so than all the changes in lending.   When looking for homeowners insurance, use the many resources available to you.  You'll find valuable information through friends, family, the phone book and Internet. It's best to collect a wide range of prices from a number of different companies.  SHOP AROUND When looking for homeowners insurance, use the many resources available to you. In addition to a fair price, the insurance companies you select also should offer high-quality service. While this outstanding service might come with a higher cost, it is important to be associated with an insurance company with a well-respected reput... 09/27/2008

Another wild night in the financial markets... CNBC reports: FDIC to Seize WaMu and Sell Deposits to JPMorgan The Federal Deposit Insurance Corp will seize Washington Mutual and sell its deposits to JPMorgan Chase for an undisclosed sum, CNBC has learned. The deal is expected to be announced during a Thursday night conference call at 9:15 p.m. ET. JPMorgan announces investor conference call: JPMorgan Chase & Co. (NYSE: JPM) will host a conference call at 9:15 p.m. (Eastern Time) tonight, September 25, 2008. You may access the conference call by dialing 1-877-238-4671 (U.S. and Canada) / 1-719-785-5594 (International) - access code: 814030 or via live audio webcast at www.jpmorganchase.com under Investor Relations/Investor Presentations. Materials and further communication will be availa... 09/25/2008

1.    THERE'S NO TIME LIKE THE PRESENT:  Pay your bills on time. An indication of how you will pay your bills in the future is taken from how you have paid your bills in the past. Your credit scores emphasize your most recent payment record.  If you've been late in the past, start paying on time now! 2.      GIVE THEM WHAT THEY WANT:  Pay at least the minimum amount required. You can always pay more, but you should never pay less. 3.      HOW LOW CAN YOU GO:  Keep credit card balances low. Don't "max out" your credit cards. 4.      SAVE YOURSELF:  Don't apply for too many loans or new accounts. Lenders will be concerned that you won't manage your debt well if you are requesting a lot of credit in a short time span. 5.      GET ESTABLISHED:  Establish credit if you have none. Apply for ... 09/25/2008

Here is the transcript of the speech Chairman Bernanke will give to Congress this afternoon. It was made public just a few minutes ago... Testimony Chairman Ben S. Bernanke Economic outlook Before the Joint Economic Committee, U.S. Congress September 24, 2008 Chairman Schumer, Vice Chair Maloney, Representative Saxton, and other members of the committee, I appreciate this opportunity to discuss recent developments in financial markets and to present an update on the economic situation.  As you know, the U.S. economy continues to confront substantial challenges, including a weakening labor market and elevated inflation.  Notably, stresses in financial markets have been high and have recently intensified significantly.  If financial conditions fail to improve for a pr... 09/24/2008

Here are some tips that could save you a lot of time, money and trouble. Plan ahead.Establish good credit and save as much as you can for the down payment and closing costs. Set a budget and stick to it.We can help you determine a comfortable price range. Keep your day job.If there's a career move in your future, make the move after your loan is funded. Lenders tend to favor a stable employment history. Know what you really want in a home.How long will you live there? Is your family growing? What are the schools like? How long is your commute? Consider every angle before diving in. Make a reasonable offer.To determine a fair value on the home, ask your real estate agent for a comparative market analysis listing all the sales prices of other houses in the neighborhood. Choose your loan ... 09/23/2008

This is a very interesting read just made public. This is the speech Chairman Bernanke will give before the Committee on Banking, Housing and Urban Affairs... The entire speech: Chairman Ben S. Bernanke U.S. financial markets Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate September 23, 2008   Chairman Dodd, Senator Shelby, and members of the Committee, I appreciate this opportunity to discuss recent developments in financial markets and the economy.  As you know, the U.S. economy continues to confront substantial challenges, including a weakening labor market and elevated inflation.  Notably, stresses in financial markets have been high and have recently intensified significantly.  If financial conditions fail to improve for a protracted pe... 09/23/2008

they have petitioned the Fed to become bank holding companies which will oversee their balance sheets and give them limits on leverage and access to the discount window. From the Fed press release: Release Date: September 21, 2008 For release at 9:30 p.m. EDT   The Federal Reserve Board on Sunday approved, pending a statutory five-day antitrust waiting period, the applications of Goldman Sachs and Morgan Stanley to become bank holding companies.  To provide increased liquidity support to these firms as they transition to managing their funding within a bank holding company structure, the Federal Reserve Board authorized the Federal Reserve Bank of New York to extend credit to the U.S. broker-dealer subsidiaries of Goldman Sachs and Morgan Stanley against all types of collateral that may... 09/21/2008

LEGISLATIVE PROPOSAL FOR TREASURY AUTHORITYTO PURCHASE MORTGAGE-RELATED ASSETSSection 1. Short Title.This Act may be cited as ____________________.Sec. 2. Purchases of Mortgage-Related Assets.(a) Authority to Purchase.--The Secretary is authorized to purchase, and to make and fund commitments to purchase, on such terms and conditions as determined by the Secretary, mortgage-related assets from any financial institution having its headquarters in the United States.(b) Necessary Actions.--The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation:(1) appointing such employees as may be required to carry out the authorities in this Act and defining their duties;(2) entering into contracts, includ... 09/20/2008

The ClosingThe closing is the final step to buying a home. The meeting generally takes about an hour and is held at the title company office as specified on your contract. To obtain a final listing of the costs of the mortgage transaction, you should request a HUD-1 Settlement Statement from your title agent at the title company.  The HUD-1 Settlement Statement is a final listing of the costs of the mortgage transaction. It provides the sales price, down payment, and the total settlement costs required from the buyer and seller. Important note:To cover the closing costs and the balance of funds due, you must use a certified check or cashier's check made out to the title company or a wire transfer. The closing agent will receive a check from the lender that covers the mortgage.  If your ... 09/19/2008

As a fairly general rule, homes appreciate about 3% - 5% a year. The appreciation value may be more in some years and less in others and will vary from neighborhood to neighborhood and region to region. Initially, 5% may not seem like that much. At times, stocks appreciate much more, and you could earn over 6% with the safest investment of all, treasury bonds. If you bought a $200,000 house, you presumably did not pay cash for the home but instead financed through a mortgage. Suppose you put as much as 20% down - that would be an investment of $40,000. At an appreciation rate of 5% annually, a $200,000 home would increase in value $10,000 during the first year. That means you earned $10,000 with an investment of $40,000. Your "return on investment" would be a whopping 25% annually.  You... 09/19/2008

If you are needing a 100% Mortgage, take a look at Rural Housing loans. The GRH program works well for many Americans and they use a common sense approach to lending.   30 year fixed rate Loans can be 100 plus loan to value ( the fee financed can exceed the value ) No down payment required For Moderate income households ( up to 115% of the county or national median income ) Closing cost can be included in the loan No limit on seller contribution by USDA rural development Eliminates requirements for private mortgage insurance Can be used for new or existing properties Guarantee fee of 2% of loan amount due after closing Qualifies for community reinvestment act credit http://www.rurdev.usda.gov/     09/19/2008

Thanks to our government effectively bailing out Wall Street, you can say hello to 7% interest rates soon. One of the upsides of a shaky financial market is a strong bond market in a "flight to quality!" Now, everyone is back into the stock market, thanks to this manufactured bull market. I am in shock... From Naked Capitalism: New measures to shore up the markets are coming so fast and furious that it is becoming hard to keep track of them. What most people do not realize is that they produced some not-very-pretty unintended consequences. As we discussed (courtesy reader Lune) at the time: 1) Congress raises conforming limits on Fannie/Freddie to help unfreeze the mortgage market. Result: agency spreads skyrocket, bringing down Bear and a host of hedge funds. Mortgage markets still rem... 09/19/2008

Here is the press release: SEC Halts Short Selling of Financial Stocks to Protect Investors and Markets Here is the order from the SEC: IT IS ORDERED that, pursuant to our Section 12(k)(2) powers, all persons are prohibited from short selling3 any publicly traded securities of any Included Financial Firm....This Order shall be effective immediately and shall terminate at 11:59 p.m. EDT on October 2, 2008, unless further extended by the Commission. 09/18/2008

Credit scoring is a statistical method that lenders use to quickly and objectively assess the credit risk of a loan applicant. Today this is more important than ever The score is a number that rates risk associated with paying your debt on time.   Credit scores only consider the information contained in your credit report. They do not consider your income, savings, down payment amount, or demographic factors like gender, race, nationality or marital status. Past delinquencies, derogatory payment behavior, current debt level, length of credit history, types of credit and number of inquiries are all considered in credit scores. Your score considers both positive and negative information in your credit report. Late payments will lower your score, but establishing or re-establishing a good ... 09/18/2008

In another historic move, the Federal government of the United States has pumped more money into foreign markets to attempt to help their markets "un-seize!" Here is the release from the Fed: For release at 3:00 a.m. EDTToday, the Bank of Canada, the Bank of England, the European Central Bank (ECB), the Federal Reserve, the Bank of Japan, and the Swiss National Bank are announcing coordinated measures designed to address the continued elevated pressures in U.S. dollar short-term funding markets. These measures, together with other actions taken in the last few days by individual central banks, are designed to improve the liquidity conditions in global financial markets. The central banks continue to work together closely and will take appropriate steps to address the ongoing pressures.F... 09/17/2008

This is the first step toward resinstating seller-funded down-payment assistance in some form. It still has to make its way through the House and Senate. From Marketwatch: GAITHERSBURG, Md.,, Sept 16, 2008 /PRNewswire-USNewswire via COMTEX/ -- Bipartisan legislation would reauthorize downpayment assistance Ann Ashburn, President of AmeriDream, issued the following statement today after the House Financial Services Committee adopted H.R. 6694, legislation designed to reauthorize and reform downpayment assistance programs that the Bush Administration banned in July. "Today's committee vote was a positive step toward preserving downpayment assistance, but our work is far from over," said Ashburn. "Now more than ever, members of Congress need to know that Americans are watching their vote o... 09/16/2008