Groups are smaller communities within the larger ActiveRain. Join groups created by others. or start your own and
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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
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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.
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ActiveRain University (ARU) provides free on-line training. We coach, consult and support real estate professionals about real estate trends, technology and social media.
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Whatever it is you're into and wherever you are, AR surely has a group for you to join.
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Each time you write a post you can syndicate your post to 5 groups.
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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
The Federal Housing Administration (FHA) recently announced some pending changes to their mortgage insurance program. The FHA provides mortgage insurance on loans made by FHA approved lenders throughout the United States. FHA insures mortgages on single family and multifamily homes and is the largest insurer of mortgages in the world, insuring over 34 million properties since its inception in 1934. FHA has increased their market share of home loans. With this increase in market share also comes an increase in loan defaults.
In an effort to help balance the risk of loan defaults, the FHA has indicated some changes to its loan structure and loan requirements that may take effect in 2010. Although these changes should support the nation's housing recovery, they are worth understanding since it could affect the "what's needed" at the closing table for your home purchase.
Mortgage Insurance Premium (MIP) - Increase in the upfront MIP of 50 basis points from 1.75% to 2.25%. This will help the FHA build up capital reserves and bring back private lending.
Minimum Credit Scores and Down Payments- New borrowers will be required to have a minimum credit score of 580 to qualify for FHA's 3.5% down payment program. New borrowers with less than a 580 credit score will be required to put down at least 10%. This allows the FHA to better balance its risk and continue to provide access for those borrowers who have historically performed well.
Seller Concessions - Reduce allowable seller concessions to 3% from 6%. The current 6% level can create risks associated with the appraised value of the home insured by the FHA. This change will bring FHA into conformity with industry standards on seller concessions.
Again, these changes will not affect all buyers. They are specific to FHA insured loan products but since they may affect the amount of funds needed at closing, it is worth mentioning in case you are considering using an FHA backed loan. Call a Homes & Land REALTOR to learn more about how these changes may affect your purchase.
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.