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
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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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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
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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 Homeownership Opportunity Program (HOP) loan is the perfect blend of Federal Government money granted to those in the State Government who know how it needs to be used and driven by the private marketplace so the money goes where it is needed. The money is intended to assist borrowers to buy their own home.
The Homeownership Opportunity Program Loan is priced weekly above first mortgage rates and it must be taken out in 120 days to avoid penalty. A ½ percent fee will be charged to extend the loan from 120 to 180 days but there will be no extension beyond 180 days. HOP Fees are ½ percent origination fee to the HOP lender, inspection and Rehab Advisor fees passed through to the borrower, appraisal fee, title Insurance and other fees required by lender.
The following are the list of process for the Homeownership Opportunity Program Loan:
1. Borrower. The borrowers should find and sign a purchase agreement, contingent on the HOP loan funding. They should apply to participating first mortgage lender for a maximum mortgage pre-qualification.
2. Rehab Advisor. The reb advisor will visit the property and writes a scope of work.
3. Borrower and Advisor. They will facilitate the bids and if the project is within the buyer's capacity to pay, an after rehab appraisal is ordered by the first mortgage lender.
4. First mortgage lender. They will qualify buyers for the actual mortgage amount and if the interest rate is not locked, the commitment must be based on 100bps above current market
5. HOP Lender. With the first mortgage commitment, they close the loan pass and the seller is paid and construction funds are escrowed at the title company assigns the mortgage to the lender. They will ship the documents according to the HOP Transmittal Form.
7. Contractor. They will requests payout from the HOP lender.
8. Rehab Advisor. They will verify the work has been completed and signed of and approves payout.
9. HOP lender. They will notify the first mortgage lender and servicer of completion and provides a payoff figure.
10. First mortgage lender. They will close the permanent loan and pays off the HOP loan.
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.