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
Cash in Refinance.Nothin' New. Nothin' Revolutionary.
By Gene Mundt, Professional Mortgage Banker - Chicago Bancorp
The concept of bringing "Cash In" to Closings of a Refinance is nothing new or revolutionary ... but it HAS become more common these days.
Home Values have declined in most U.S. housing market regions. Yields on stocks, bonds, and other investments are dwindling ... and Mortgage Rates are hovering at, or under 5%. (This last statement should be making those Americans looking to Buy a Home or Refinance salivate).
If any of the aforementioned scenarios apply to you as a Homeowner, you might presently be pondering "Cashing In" those investments that are yielding you a miserable rate of return and then utilizing those dollars to "Buy Down" your Mortgage Interest Rate, 1% or more.
This is a plan of action you might want to consider, especially if "Buying Down" the Interest Rate is the deciding factor in making a Refinance of your Mortgage possible.
A "Buy Down" can prove beneficial to a homeowner in the following ways:
By reducing the Mortgage Balance to qualify at a certain LTV (Loan-to-Value )
To qualify for your Mortgage at a lower DTI (Debt-to-Income Ratio)
To reduce the Principal Balance of your Mortgage in conjunction with reducing the Loan Term (thusly keeping the new monthly Mortgage Payment comparable to the previous mortgage payment, but greatly reducing long-term interest costs)
To fit into certain LTV (Loan-to-Value) "windows" on first and second (Combined LTV) Mortgage scenarios.
There is no across-the-board right answer to these above-mentioned scenarios. As I've written many times previously in my posts, today's Mortgage Processing and Mortgage Loan is more personalized than ever before.
As each borrower's set of financial situations are different ... each situation must be judged on its own merit. Each decision must be based on the financial scenario and standing of the individual homeowner in question.
My suggestion or recommendation would be for the homeowner to consult their Income Tax Advisor and their trusted Mortgage Professional both, prior to proceeding with this type of Refinance.
My fear for any Homeowner with capital to invest is this ... How liquid is their money paid into reducing their mortgage? How liquid is it versus having the money in a Money Market Account? Versus a Certificate of Deposit? Versus a Bond Fund, or etc.?
For LONG TERM FINANCIAL PLANNING, I personally would bet on the Mortgage Reduction course of action being the favorable one in most cases. But each homeowner must consider their own level of comfort when making this decision. As with any financial decision, their is an element of risk ... and homeowners should be made aware of that fact and discuss their options with their financial professionals before making a final decision.
All of the above is great "food for thought" ... and at decision time, ultimately the Homeowner themself may have the only "right" answer regarding how to proceed.
*If YOU are seeking information and answers as to whether a Refinance might be possible for your financial scenario and property, please contact me.
Together we will analyze your current Mortgage and Financial situation ... and then move forward with a course of action that will benefit your personal and financial needs best. I look forward to speaking with you soon!
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.