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Real Estate News Category

The Century Tree Reader What’s Your Appraisal Worth?

Bryan, TX -- In a slower real estate season, what good is your appraisal? Verdad Valuation Services owner Kelly Seaton says plenty. It's still a reliable tool to know when a buyer presents the seller with a low-ball offer or when it's a good deal. "In June and July when business is booming, sales data was plentiful. Last months sales were a good indicator of a property's present value," Seaton said. "When there is a sudden shift in...Continue Reading!

The Century Tree Reader How to get rid of PMI – Part Two

Last time we learned that PMI, like PMS, doesn't last forever.  Aside from home owners asking for it to be removed and aside from lenders terminating it when the principal balance of the loan reaches 78% of the original loan amount, there is another way to have it eradicated. For people living in areas where their home value has risen, the value could actually exceed the amount of principal owned on the mortgage.  In this situation the lender is under no...Continue Reading!

The Century Tree Reader How to get rid of PMI – Part One

No I didn't say PMS. If I knew that, then I'd be a millionaire. PMI - your Private Mortgage Insurance protects your lender in case if a borrower defaults on the loan, and the value of the home is lower than the loan balance. PMI has been a large money-maker for the mortgage lenders. The amount of the insurance (usually $40/month for a $100k home) is commonly rolled into the mortgage payment. Given the size of the...Continue Reading!

The Century Tree Reader Why Did Fannie Mae Fail?

With all that is going on in the mortgage and banking world right now, don't you wonder WHY? Why did this mess begin? What started it? Didn't anyone see it coming? Yes - someone saw it coming. The New York Times actually reported it coming back on September 30th in 1999. How many years ago is that? Maybe it was while Clinton was President, not George Bush.... In 1999 Steven Holmes from the New York Times wrote that Fannie Mae was under...Continue Reading!

Credit Crunch? Media Feeding Frenzy

BRYAN, TX -- You and I know the media are out to make a buck. And most people know that a majority of the news is presented in a cunning way to grab your attention to increase media viewership to sell more ads to make a buck. What viewers may not know is that the recent hype on the alphabet soup mortgage companies (WaMu, AIG, FNM, FRM, ...) is just that - hype. Sensationalism to get you excited to grab...Continue Reading!

The Century Tree Reader The Great Takeover by the Federal Government!!

The Federal Government announced today that Freddie Mac and Fannie Mae will be taken over by the Federal Government.  The Fed will take charge of $5 Trillion in loans.  The Federal Housing Finance Agency will oversee the day to day workings of the two loan giants until they are better able to run themselves.  Click Henry Paulson to see the announcement by Treasury Secretary Henry Paulson     Also, the director of the Federal Housing Finance Agency, James Lockhart,  anounces the "conservatorship (click)" between the...Continue Reading!