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.
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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.
ARU Calendar provides class types and registration links
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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
According to CMHC (Canada Mortgage and Housing Corporation), "A large majority of Canadians who refinanced their mortgage in the last year, did so before the scheduled renewal time." In fact, according to a recent CMHC survey, a whopping 71% of all borrowers refinanced before their mortgage term was up between their 3rd and 4th year term.
This shouldn't come as a surprise to most mortgage professionals. In my office we send out a letter to clients on their third anniversary anticipating they may want to do something. According to CMHC's survey, renovations are the number one reason Canadians refinance. Reinvesting the funds back into your home through home renovations is money well spent. A close second is debt consolidation. Almost one-in-three of those refinancing used the funds to consolidate debt. Around the third anniversary is also a time when Canadians may have decieded to move. The point is, this is a critical point in the life of your mortgage and you should prepare for it at the beginning of your mortgage.
Regardless of the reason for your refinance, if the opportunity comes up mid term you need to be in a mortagage that will allow you to make the change as painless as possible. An open mortage would be the most flexible to accomodate your needs at this juncture but for practical reasons (interest rates on open mortages are inordinately high), you need need to consider less expensive measures. First of all, will your lender allow you to break your mortgage? If you are moving, will your lender allow you to port your mortgage? This will avoid any penalty. If you are refinancing, can you increase the amount of your mortgage and blend your existing rate with the current market rate and avoid the penalty? Lenders' policy on this subject can vary.
Given the high percentage of likelihood (71%) you could fall into this scenario, it behooves you to address the subject of early renewal at the outset of your mortgage. There is nothing worse than finding out you can't break your mortage unless you have sold your property - the one exception.
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.