Groups are smaller communities within the larger ActiveRain. Join groups created by others. or start your own and
get others to join
This is the place to view the past and present contests put on by ActiveRain and its members. Everyone can join the
group and help encourage each other. Current contest will be highlighted posts so it's easy for you all to see. Let it
Curious as to what others in your profession think about a certain product or tool?
AR's community takes the time to leave honest and transparent reviews of their experiences
so you can be a bit wiser about your purchase.
Broken down by categories and subcategories for easy finds
Get an unfiltered look at what real users are saying
Leave a review yourself for others to benefit from
Add new products as you use them and gain points for doing so
ActiveRain University (ARU) provides free on-line training. We coach, consult and support real estate professionals about real estate trends, technology and social media.
ARU Calendar provides class types and registration links
Watch short tutorials on updating your photo, inserting a hyperlink and much more
Sign up for the Daily Drop so you don't miss out on AR's daily happenings
Find answers to most FAQ's
Whatever it is you're into and wherever you are, AR surely has a group for you to join.
Brand, off the wall, specific subject matters…whatever it is you're looking for.
Each time you write a post you can syndicate your post to 5 groups.
And if by chance you don't find what you're looking for, start a new group today!
Get your content in front of more eyes
Search by location or type
Feel free to start your own group
Find some that are close to home and close to heart
Each month AR runs numerous contests as a way for our members to engage in activities
that will boost their business and increase their visibility in the community and beyond.
Earn points by partaking in these contest and climb the leaderboard
Do what's good for you and your business by participating
If you have an idea for a contest, just let us know
Stay motivated and on track with new contests popping up each month
Ask a Real Estate Question
Here's another avenue for you to build relationships with others. Share your expertise with someone searching for answers.
Play the teacher role and help someone out today
Your Homepage will alert you of new questions in your state
A wonderful way to open a door to a possible new client
Ask a question yourself to get help
These state pages or hyper-local pages provide content directly related to a specific geographical location.
State, County, City and Neighborhood pages make it easy for consumers to find what they're looking for.
Post your listings, school information, local events, market reports and more
Consumers peruse these pages for information
Farm your niche market and cover all the happenings in your neighborhood
If it appears that the only available option to you is to sell your property as a short sale, here are things you should know:
Short sale is a type of pre-foreclosure sale in which the lender allows the property securing a mortgage or deed of trust loan to be sold for less than the full amount due, and accepts the proceeds from the sale as payment in full.
Short Sale Approval
Most lenders will approve a short sale only as a last resort to foreclosure because of the following:
The borrower is insolvent
The proposed purchase price is more than the lender can sell the property after foreclosing on the loan
The market value of the property is below the loan balance due to local and national economic conditions
The property was refinanced at a higher value based on an inflated property appraisal report
The property is in such a physical condition that it is not financially feasible for the lender to put it into a marketable condition.
Regardless of who benefits from a short sale, most lenders have a very strict hardship test that the financially distressed homeowner must meet to qualify for relief by way of a lender-approved short sale.
Hardship could be one or a combination of the following:
You are not responsible for selling expenses. The Lender pays the realtors to list and sell the property.
You will NOT get any sales proceeds from the sale
Set your ego aside about how much your property is worth after what you paid for it, improvements you made, etc.
Get all the required documents as soon as possible so that your realtor can begin communicating with the lender and marketing your property
Price the property aggressively to attract the largest pool of buyers so that you can get sell it quickly.
Remember, that time is of the essence. You only have so much time to try to sell your property as a short sale. So you must maintain the property so that it is marketable
You can accept an offer and ratify the contract and send this off to the lender; but if another offer comes in that looks better than what was accepted previously, the lender can override the your decision, and accept the offer that is financially better for the lender.
Escrow is not necessarily opened until the lender accepts the offer ---- and that's when the timeline of the contract begins
Always encourage and entertain back up offers. Oftentimes, buyers get tired of waiting for the short sale to be approved, and they back out of the agreement
Short sale is anything but a "short" process
Selling a short sale property is a long tedious process
Getting a Loan Negotiator assigned to the case will entail many phone calls and other means of communicating
This is a more involved process than a regular sale
List price must be very aggressive in order to attract the biggest pool of buyers
The quicker you get an offer, the better you are protected from foreclosure
Offers tend to be lower than list price. Don't take it personally
When an offer is submitted, you can accept...but Lender makes the final decision
Lender may take 45 days or longer to respond to an offer --- accept, reject or counteroffer
Lender may override the Seller's choice
SAMPLE foreclosure timeline
Here's a look at a timeline from late payment to foreclosure. The timeline will differ depending on lender, location and situation. There is always the possibility of postponing foreclosure, such as when the property owner lists the property for sale as a short sale, receives and offer or offers and forwards the offer(s) subject to lender approval.
DAY 1 The borrower misses the payment.
DAY 16-30 A late charge is assessed. The mortgage servicer contacts borrower to find out why the payment is late. File is sent to the Collection Department.
DAY 45-60 The servicer sends a "demand" or "breach" letter to the borrower who has 30 days to resolve the situation by paying the delinquent amount.
DAY 90Notice of Default. Foreclosure proceedings start with a Notice of Default (NOD). The document is recorded at the request of the lender by the trustee and is recorded in the county in which the property is located. In California, the borrower and junior lien holders are given proper notification and the borrower has 90 days to bring their account current. This period is referred to as the Reinstatement Period.
DAY 180 Notice of Trustee Sale. If the borrower does not reinstate their account within the 90 day period, the lender will authorize and instruct the Trustee to record the Notice of Trustee Sale (NOS).
DAY 1965 Business Days Before the Sale Date. Right to Reinstate expires.
DAY 201 After 21 days of the recording of the Notice of Trustee Sale, a foreclosure sale can take place at public auction. The property may be sold to a third party bidder or revert back to the lender for a specified amount.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.