We see it on all of the media outlets daily now, if you are having trouble making your mortgage payments just call your mortgage company and ask for a forbearance.
Well, let me stop you right there!
A mortgage forbearance program is not a loan modification and it is not a forgiveness of loan payments. A forbearance is a very quickly design program by the federal government. The basic attributes are that the "borrower" (you) will not have to make a monthly payment on your home loan for a predetermined set of time, instead your "servicer" (the mortgage company) will make those payments for you to the investor until you can start making payments again.
That sounds like an excellent idea right? I mean who wouldn't want to "stick it to the man" and have some rich banker make my mortgage payment for me.
But what has not been explained to the public is that YOU WILL HAVE TO REPAY the funds to the servicer. There are a few options floating around out there. One option is that banks are requiring borrowers to repay all of the delayed mortgage payments in one lump sum another option is to spread the delayed payments out of a twelve month period.
Your mortgage payment is $1000.00 a month
Option one would mean that for three months you do not pay your mortgage and in month four you will be responsible for writing a check to your mortgage company for $4,000.00
Option two would mean that for three months you do not pay your mortgage payment and in month four you would write a check for 1,250.00 and would continue to write the same amount for the next twelve months.
Both of these scenarios are supposing that your mortgage company does not charge you any fees for the forbearance.
The current forbearance arrangements made by the federal government are supposed to be used only by those affected directly by the Covid-19 epidemic, however, there are no protocols of verification in place at this time. That means that just about anyone and everyone can apply for forbearance at this time.
As of today's date roughly 18% of the US population is in some state of unemployment. Federal banking institutions are reporting that 6.99% of homeowners have applied for forbearance which is roughly 3.5 million borrowers.
The downside of this for the housing market is that for those 3.5 million borrowers most if not all have not been told that when they applied and accepted the forbearance of their mortgage they immediately lost the ability to apply for any new loans until at least twelve months after they have completely repaid the forbearance amount. That means that people that chose option two and are taking twelve months to repay their forbearance will not be able to apply for a loan for another 12 months after that time period.
Economics experts are suggesting that roughly half of the population that has gone into forbearance will end up losing their homes to foreclosure or selling their homes in a short sale.
If it is at all possible to stay out of the forbearance arena please do so. Give us a call at Pynk and Co and we will do our best to help you through these muddy waters.
Name Website Phone Curbside? Delivery?
Cowboys BBQ http://www.cowboysbbqcovington.com/ 770 784-1401 Yes No
ElChapparo https://elchaparroga.getbento.com/? 470-441-5332 Yes Yes, within 15 miles
Plain Nuts http://www.plainnutsdeli.com/ 770-788-8182 Yes Yes
Milazzos https://milazzosporterdale.com/ 678-625-0000 Yes No
Osake osakecovingtonga.com (678) 342-7253 Yes No
HoneyCreek Wings https://www.facebook.com/honeycreekwingsjr/ (678) 712-9690 Yes DoorDash
McDonalds https://www.mcdonalds.com/us/en-us/mcdelivery.html Yes UberEats / DoorDash
City Pharmacy citypharmacycov.com (470) 441-5092 Yes No
5 O'Clock http://www.fiveoclocksportsbarandgrill.com (770) 385-3060 Yes DoorDash, UberEats, GrubHub, Postmates
Burge Club firstname.lastname@example.org Yes Yes, within 10 miles. $35 min.
IHOP order.ihop.com 770-787-0010 Yes Yes
Jim N Nick's www.jimnnicks.com (470) 277-0648 Drive Thru Yes, $75 min
Chick Fil A Covington https://www.facebook.com/ChickfilaCovington/ (770) 787-0400 Drive Thru Uber Eats, DoorDash
Chick Fil A Salem Bridge https://www.facebook.com/CFASalemBridgeGA/ (678) 342-0807 Drive Thru DoorDash, UberEats Longhorn http://www.longhornsteakhouse.com. 678-625-4320 Yes Yes, $100 min
Johnny's Pizza johnnyspizza.com 678-342-4243 Yes DoorDash, UberEats, GrubHub
Butcher Block thebutcherblockdeli.com (770) 787-2003 Yes Yes
Checkers checkersnow.com (678) 712-6040 DoorDash, UberEats, Postmates
Your Pie Covington https://yourpie.com/stores/covington/ (470) 327-2799 Yes GrubHub
Little Phillies https://www.facebook.com/LittlePhilliesCovington/ (770) 786-0095 Yes No
Tubby Toms https://www.facebook.com/TubbyTomsSportsBarAndGrill/ (678) 212-6410 Takeout No
Bradley's http://www.bradleysbbq.com 770-786-1140 Yes No
Waffle House (HWY 142) wafflehouse.com 770-784-3854 Yes No
Frank's https://www.facebook.com/212Franks/?hc_location=ufi 770) 786-0598 Yes No
Chili's https://www.chilis.com/locations/us/georgia/covington (678) 889-3799 Yes DoorDash
Stalvey's https://www.facebook.com/pg/JimStalveysRestaurant 770-787-5091 Yes Yes
Buddy's BBQ https://www.facebook.com/pg/Buddys-BBQ216825608654484/ Yes No
Bowl O Flames https://www.facebook.com/pg/Bowl-O-flames1760278297574763 (470) 441-5640 Takeout No
Pippins BBQ http://www.pippinsbbq.com (770) 922-9730 Yes Grubhub
Bread and Butter https://breadandbutter.coffee/ (470) 444-1330 No Use their website or app
RJ Clucker's http://rjcluckers.com/ (470)327-2748 Yes No
Bullritos www.bullritos.com (678) 342-7482 Curbside & Takeout No
JMO to Go www.jmotogo.com (678) 658-7919 Yes No
Nagoya http://covingtonnagoya.com/ 770-784-9988 Yes No
Bangkok Grill https://www.bangkokgrillcovington.com/ 770-784-7747 Yes No
Quik Chik https://www.facebook.com/pages/Quick-Chick/ (770) 787-8265 Yes No
This info was pulled from the Support Local in Newton County during COVID-19 Outbreak facebook page
Here's a link for more updates https://www.facebook.com/groups/1295269020862548/
Shipping Container House Craze
Wow! I didn't even realize that shipping container houses were all that popular, but apparently they are. One of my neighbors back in Florida had a shipping container that he converted into a storm shelter and it was an awesome little thing. The container was set up like a tiny house with a kitchen area, sleeping area, and living area. He didn't include a bathroom just because it was meant only for staying during a hurricane and not for everyday living but it had all the other comforts.
I took a class yesterday all about converting shipping containers into homes though and the information I learned is certainly worth passing on!
Savannah is a huge shipping port and there are shipping containers just hanging out waiting to be used. Some industrial Georgians have already made the decision and put in the work to create homes out of shipping containers.
Just keep in mind that shipping container homes still need to meet the requirements of Georgia Building Code, but the cool part is they actually address shipping container homes in the Georgia Building Code. It states that shipping container homes must meet the minimum requirements of IRC (International Residential Code); the main sticking point here is that R304.2 states the minimum dimensions for any room must not be less 7 feet in any horizontal direction. Since most shipping containers are only 7 feet 10 inches in width it prevents the homeowner from creating a hallway space or two separate rooms width wise in the container. However, an industrial homeowner will put two or more containers together in order to create a traditional style of living inside the containers.
Also, when using containers there are many options and one of those options are to purchase used containers. There is absolutely nothing wrong with purchasing used containers and they will be on the cheaper end of the spectrum. If that is the route you choose to go I feel its necessary to point out some facts. One being that the majority of containers used for freight have been manufactured in China. The container must pass the IICL's CSC (Container Safety Convention protocols), these protocols state that the roof and walls of the container must not contain holes and must be of sturdy construction, the container's original door must open and close easily (this is even if you do not plan to use the door and will be replacing it), the interior must be dry so as not to create an environment for microbe growth, and there must be no residue from previous cargo. If a container has passed its CSC that will be a stamped plate located in the end of the container stating as such. The plate is good for five years and must be reinspected. However, in order to turn a container into a home the Ga Industrialized Building Manufacturing has determined that the container must be less than 48 months old. Another restriction on used containers is that the container must not have ever transported hazardous materials.
There are various places around Georgia that has been allowing shipping container homes to be constructed. A popular residence in Atlanta is the Gartrell Street duplexes that were constructed out of 12 total containers.
There is another group of containers in Atlanta, appropriately named the "IVillage@MLK". This grouping of containers has been set up as a public work space and has a common space set in the middle of the containers. While the above picture clearly indicates that shipping containers were used they blend together somewhat for an ascetically pleasing look, the ones at IVillage definitely look like shipping containers placed on a lot.
If you are looking into constructing a shipping container home, just know that the costs associated with the construction sometimes become overwhelming for a person new at construction. The average shipping container home construction costs could cost you over $100,000. The most common expenses associated with this type of construction are the land to place the containers on, the cost of the actual containers, transport of the containers from wherever you purchased them from, professional fees (this would be the architect or structural engineer that would have to sign off on the building plans for the construction), the actual construction costs (this would cover the cost of heavy machinery and the people needed to work the machinery), contingency, and building permits.
Owning a shipping container home seems to be a really neat way to insert your personality into the building of your home as well as a way to use materials that already exist and could possibly be clogging up our environment.
I look forward to hearing from others that have looked into this kind of project. What did you decide to do? If you have already constructed your container home, I would love to see pictures of the completed home!!
The real estate market is starting to pick up! If you watch our Facebook Lives you know we are some busy girls! Have you seen our new PYNK signs around town? Be on the look out because we have more and more coming up every week. What we are noticing though is that buyers are getting more selective with the homes they are purchasing. We don't want you to miss out on a fabulous deal because of something small and completely affordable. The above infographic is a handy little thing to keep in mind. When you decide to sell your home just remember we are trying to make the home appear inviting and ready to welcome its new owners with open arms. Decluttering and Deep Cleaning is an absolute must in order to get top dollar for your home. Recently we had a buyer turn down a listing because they could smell an odor in the home. Removing your personal effects prior to showing the home is something we strongly recommend and that is not only to make the home appear inviting but, also, for your protection. Our clients' safety is of utmost importance to Pynk & Co!!! Please remove all personal and identifying effects in order to keep yourself and your loved ones safe.
I've heard of so many people passing away recently. Yesterday it was all over the news and every social media outlet imaginable that a top retired NBA star passed away. Kobe Bryant was known by just about everyone. I didn't even watch or keep track of basketball, but I knew who he was.
Nine people passed away in that helicopter crash with Kobe Bryant. I know that he is getting the most recognition because his of who he was, but there were eight others that were taken to soon in that accident. Among those eight were three 13 year old young ladies that had a whole life ahead of them.
While every death saddens me, it is truly a sad thing when someone so young passes away. It makes one wonder what would they have done with their life as an adult. Who would they have been? Who's lives would have been forever changed by knowing them?
An average of 16,375 died in the United States every year from 1999 to 2006. This is less than 1 percent of all deaths that occur every year in the United States, but it is still a devastating blow to realize that many young people die every year.
Someone out there is dealing with grief at any given moment of every day. They have lost someone close to them. There is a saying that goes into the different ways of describing those left behind after a death, such as a widow or widower, but there is no such way to describe the loss of a child. I've read studies showing that grief brought on by the death of a child is a so great and so devastating that it can literally break the heart and mind of the parent left behind.
I was 14 when my mother died. The one thing I remember from that day is coming home from school and sitting on the couch while my family's pastor explained her death to my sisters and me and hearing my grandfather (who is a stalwart and stiff upper lip kind of guy) absolutely sobbing in my parent's kitchen. The grief of a parent that loses their child is one of the most palpable feelings. It is something that you can literally see and feel just being around that person.
If you know someone that is dealing with the loss of a loved one here are some ways to help them cope:
1) To the grieving, it often seems as if friends disappear just when you need them most. Show up and just be there for them. If they need you to sit quietly and just be there then that's o.k. If they need you to sit and talk with them, that's o.k. too. The grieving will tell you what they need and more often than not if you just sit quietly with them you will innately know what it is they are in need of.
2) The number one way to supporting a grieving person is to listen to their stories. Often times someone that has recently lost a loved one will talk about that person in great detail. Recalling stories and adventures from the past. Talking about their feelings for the loved one helps those that are grieving to come to grips with the situation at hand. Your friend may need to work through their thoughts and will appreciate your presence and listening ear.
3) No matter what you do, you will not be able to take the pain away. Be prepared instead to hold a hand through incredibly intense emotions. Now is not the time to tell your friend that they will feel better, that there will be less pain, that at some point they will smile again. They don't want to hear that, I can assure you.
4) Try to be patient and understand that the grieving isn’t about you, so don’t take the yo-yo emotions of the griever personally. When my mother passed away my grandmother (her mom) became very cold and dismissive. As a teenager I thought I was the one that was messing up all the time and didn't understand that her anger was not about me, she was grieving and that was her way. Her anger was at the loss of her daughter.
5) Sometimes people will not want to talk about their grief at all and that’s OK too. Everyone grieves differently and there is no “right” way to go about it. There is no set timetable either.
My heart goes out to the families left behind from that helicopter crash over the weekend. I feel immense pain for the mommas and daddies left to grieve the loss of their babies. I feel overwhelming sadness for the wives that lost their husbands and the husbands that lost their wives. I pray that as a community when someone loses a loved one we all come together and love on that person through their grief.
Three Spunky Eclectic Sassy Darling Realtors® that live in the Hollywood of the South and help people all over the east metro Atlanta area with all kinds of real estate needs. Lynn Pynckels, Dewayna Pullum, and Stepfanie Gray