Mobile Foreclosures - Buying Homes in Alabama

Imagine owning a home with 4/2 beds and bathrooms. Many of the people in the world find it difficult to pay for a one bedroom home let alone a 4-bedroom home with two baths. The fact is since the economy has hit rock bottom many people now can own this kind of home and all they have to do is to look in the Mobile foreclosures listings. Right now, you can buy a four bedroom home with two baths for as little as $50,900.00, and pay as little as 4.61 percent interest rates on that loan.

Mobile foreclosures are easy to find. The Internet is saturated with foreclosed listings, bank foreclosures, federal and government homes, HUD homes, and so forth. At this time, the unemployment rate in Mobile, Alabama is 7.3 percent, which compared to national average that is 6.9 percent.

Mobile, Alabama is the third most famous city in the United States and is the seat of Mobile County. In 2006 more than 190 thousand people were living in the area but since then the number has increased. Mobile Alabama provides the only saltwater port into Alabama foreclosures and it is located on the Mobile Bay. The city’s origin made it the Capital of the Colonial French Louisiana in the 1700s. More than 300 years later, Mobile expanded and now they have a record of officially flying six flags, which include Britain, France, Spain, and the Republic of Alabama’s Confederacy, as well as the United States.

The economy over the past five years has undergone major expansions. There is several local and national in addition to international corporations there that has funneled more than nine billion dollars into Mobile. This brings it to a GMP rate of over 20 billion and it has the potential of going well over 200 billion. Thus, Mobile then is one of the top 10 most prosperous cities in the United States.

Job growth in Mobile has exceeded to 22 percent in the last five years and it is projected to increase to over 32 percent within the next three years. This is mostly because of the ThyssenKrupp Steel Plant and the State Dock growth. There was a notable surge of average wages at 30 percent, but this was due to the Katrina disaster. Since then things have improved for Mobile residents, which means that the job place is lucrative. Thus, moving to Mobile, Alabama may be a good idea right now. So be sure to look on the Mobile foreclosures list to find a home.