mobile alabama real eatate: Alabama's real-estate markets are doing better than most of the country - 10/01/08 10:39 AM
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 … (1 comments)
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mobile alabama real eatate: Ways to Save Money on Homeowners Insurance - 09/27/08 08:33 AM
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 … (1 comments)
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mobile alabama real eatate: You can achieve good credit by following these tips - 09/25/08 06:49 PM
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mobile alabama real eatate: What should I know before buying a home - 09/23/08 01:49 PM
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 … (3 comments)
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mobile alabama real eatate: The state of the real estate - 09/22/08 06:51 PM
The state of the real estate industry for some has gone from happiness to hopelessness, from abundance to abandonment, from desire to drought, from feast to famine. We are being led to believe through repetition, trauma and circumstances portrayed through the media that the real estate industry has and continues to fall … (7 comments)
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mobile alabama real eatate: Understanding the Purchase Contract - 09/19/08 12:19 PM
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 … (0 comments)
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mobile alabama real eatate: Benefits of Owning Compared to Renting- Good Investment - 09/19/08 12:15 PM
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.
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mobile alabama real eatate: Credit - 09/18/08 04:09 PM
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.
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mobile alabama real eatate: 7 Reasons Why You Should Own a Home - 09/16/08 08:03 PM
NAR put this out a while back, but does it still makes sense today ?
Tax write off: According to the U.S. Tax Code you can deduct the interest you pay on your mortgage, property taxes, and some of the costs involved in buying your home.
Home value: While the median … (12 comments)
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mobile alabama real eatate: The financial and credit crisis - 09/15/08 03:22 PM
Cost of living in 1968
Dow Jones Avg- 943 ( today 12,000-14,000 )
Avg cost of a new home- 14,950.00 ( today 225,500.00 )
Avg income - 7,850.00 ( today 48,200.00 )
Avg monthly rent - 130.00 ( today 1,153.00 )
Gallon of gas - .34 ( today 4.00 )
Avg cost … (3 comments)
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mobile alabama real eatate: A few reminders before you close on your loan. - 09/14/08 03:16 PM
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mobile alabama real eatate: Avoid Predictable Mortgage Scams - 09/12/08 04:52 PM
"Bad credit? No problem!"
Unscrupulous mortgage brokers and lenders use lines like this to aggressively target families and steal their single largest source of wealth-home equity. As families work hard to build wealth through homeownership, abusive loans can quickly sabotage their progress and even push them into foreclosure. Predatory lending is … (0 comments)
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mobile alabama real eatate: An appraisal of real estate - 09/12/08 04:09 PM
An appraisal of real estate is the valuation of the rights of ownership.
Instead of just creating the property value, the appraiser uses market data to derive a value estimate. The appraiser must take the site, amenities and the physical condition of the property into consideration when compiling the … (0 comments)
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mobile alabama real eatate: Title Insurance Policy - 09/11/08 01:46 PM
An owner's title insurance policy protects the owner against title defects in the property. A mortgage title policy protects the holder of the mortgage on the property. Separate policies are required to protect both interests.
After the buyer's deed is delivered and recorded, the owner's policy of title insurance is issued. … (1 comments)
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mobile alabama real eatate: Down Payment Loans and Gifts - 09/11/08 01:43 PM
Loans and gifts can help with your down payment but you can not use this strategy for all loan programs. The most popular program for this tactic is the Federal Housing Administration or FHA. FHA allows 100% gift funds for your down payment. The gift can be from any relative or … (1 comments)
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mobile alabama real eatate: Don’t Move Money Around- in the Mortgage Process - 09/11/08 01:37 PM
The source of funds for your down payment and closing costs is a high level concern for lenders when they review your loan package for approval.
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mobile alabama real eatate: What is Estimates of Closing Costs - 09/11/08 01:33 PM
Your lender will provide a Good Faith Estimate of Closing Costs which include but are not limited to:
Down payment
The loan origination fee
The mortgage loan processing fee
The mortgage loan underwriting fee
Appraisal fee
Credit report fee
Flood certification
The homeowner's insurance premium for the first year
Escrow account … (0 comments)
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mobile alabama real eatate: Homeowners Insurance Information - 09/11/08 01:30 PM
When you insure your home, you should insure your home for the total amount it would cost to rebuild your home if it were destroyed. If you don't have sufficient insurance, your insurance company may only pay a portion of the cost of replacing or repairing damaged items.
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mobile alabama real eatate: Frequently Asked Mortgage Questions - 09/11/08 08:06 AM
1. What is Prequalification? Prequalification is the process of determining what price a home can be purchased by a prospective buyer. 2. My real estate agent recommended that I get a commitment letter. What is a commitment letter, and why should I get one? A commitment letter is given by the … (0 comments)
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mobile alabama real eatate: Real Estate/ Mortgages Pros - Do you feel Like bullets are flying all around you ? - 09/10/08 12:33 PM
These days if you are in the Real Estate business ( mortgage business included ) you almost have to feel like you are on a episode of Survivor...not wanting to get voted of the island !
Lenders with new guidelines ( Daily )
Appraisal Issues ( I sure a lot of are saying … (2 comments)
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