Forbearance: What you need to know.
I know many people are stressed right now that they are no longer receiving an income but yet the bills continue. Just so you know, you don’t need to prove financial hardship to request forebearance. This is for everyone that has a mortgage. Thus, people across the country have suddenly and unexpectedly found themselves in need of financial relief. With mortgage payments being the largest monthly expense for most households, the government has recently passed legislation to make forbearance easier.
What is loan forbearance?
Loan forbearance is an agreement between you and your loan servicer (who you make your payments to) in order to postpone your mortgage payments during times of financial difficulty. The payments will need to be paid in full, including accrued interest, following the agreed upon time period. By requesting forbearance, these delayed payments will not have a negative effect on your credit.
Contact your loan servicer.
It’s important to know that forbearance is not a gift, and the loan will still need to be paid. Before skipping any payments, you should contact your loan servicer to learn more about your options. It’s as easy as saying “I won’t be able to make my payments for the next few months. What are my options?” Your loan servicer will work with you to set up a payment arrangement which could include the following options:
- Pay back the full sum at once
- Increase your monthly payment
- Restructure your mortgage
Forbearance should be used only if necessary.
As you can see, forbearance is not as simple as deferring payments. While it can be a source of financial relief, it’s only a tool that should be used if truly necessary. Forbearance simply postpones principle payments, meaning that the loan will continue to accrue interest, increasing the amount you will owe over the life of the loan. For some people, that is a minor price to pay to save money right now. But if you are able make payments, please continue to do so. Right now there is usually a button on your mortgage servicer’s website that you simply click on it and apply. Hope this helps you at this time. I know we’ll all be back to business as normal very soon!
Don’t miss this one on the lake in Vinings!
My followers are the first to know of a new listing coming to market in the next week in the heart of Vinings on Paces Lake.
This high quality custom home was built in 1998 and is one of the best lots on the street. This lot allows the home to have 3 sides of water views with privacy. Custom finishes thru out include: shake shingle roof, copper gutters, solid wood doors, heart of pine floors and pine cabinetry, to mention a few.
The main level is perfect for entertaining with a 4 seasons sun room that has walls of windows overlooking the lake on all sides. The doors from the sun room lead to a blue stone patio with outdoor fireplace overlooking the lake as well. Its an easy stroll down the steps to your private boat dock and lift.
This Design Galleria kitchen features professional appliances and granite countertops and is open to a cozy fireside keeping room. The formal dining room is massive and easily seats 12. There is a large living room or family room on this level as well, all in all it has 3 sitting/living rooms on the main which allows for entertaining large groups.
All bedrooms are ensuite and all bathroom fixtures are imported from England and are a classic white and the tiles have black traditional accents. The ceilings are 10 ft. and the mouldings are intricate and detailed.
The master is on the main which is a favorite here in Vinings and the teen suites are huge upstairs with extra sinks in the closets for visiting teens or art projects – 3 teen suites in all. The closets in the teen suites are rooms unto themselves! The basement is a perfect hang out place with a media room, sports storage space, billiard or shuffle board room and fitness room or nanny suite. There is room for a pool if you’d like. Plus I need to mention a 3 car garage where even the flooring is blue stone! We are getting this ready for market and it will be listed next week at $2,495,000. Walk to private schools. Call me if you’d like to see it then and you can be my neighbor!
2945 Paces Lake Drive, Atlanta, GA 30339
Property overview: 5 bedrooms ; 7 bathrooms ; 4,874 sq. ft. ; classic brick custom lakefront home ; master on main ; walkable to Vinings Village ; 3 car garage ; full walk-out basement ; Cochise Club eligible
Schools: Teasely / Campbell / Campbell
Offered at $2,495,000
Your family’s new home welcomes you with a rocking chair front porch, refinished floors and fresh paint, ready for you to move in and hang your pictures on the walls.
The double height center hall with stair case is flanked by a formal living and dining area on the front of the house
Follow the hallway back to find an open plan eat-in kitchen and family room with a cozy fireplace and views of the back deck and private backyard bordered by the trees beyond. The kitchen has a great center island with granite and a professional vented range hood.
The master suite has a fireplace in the bedroom and has high ceilings in both the bedroom and bath. The bath has a soaking tub and walk-in shower and dual vanities.
Two more family bedrooms and a larger bonus bedroom over the garage make up the second floor, complete with generous walk-in closets.
In the finished basement, you’ll find a carpeted playroom, bedroom, and full bath; it’s a walk-out basement directly to the back yard.
A deck off the main level makes for easy grill-and-chill afternoons; it overlooks the large backyard which backs up to woods for added privacy and quiet.
There are several excellent private schools within a quick drive of this family-friendly neighborhood, which includes swim, tennis, and a playground.
You can find all of the details on this home here ; call me to set up a viewing today!
5609 Vinings Place Trail Mableton, GA 30126
Property overview: 5 bedrooms ; 4 bathrooms ; 4,355 sq.ft; full finished basement with bed/bath and playroom; 2 car garage; deck and front porch; 2 swim/tennis community with playground; close to private schools such as Whitfield Academy and Pace Academy
Schools: Harmony- Leland ; Lindley ; Pebblebrook
Offered at $389,000
In the highly sought after Cooper Lake neighborhood in the King Springs school district, this brick traditional with a huge fenced backyard is sparkling fresh and ready for your family to call it home.
Step into the foyer and you can feel how fresh and bright this home is, with fresh, contemporary colors flowing through the open floor plan. An arch visually divides the more formal living and dining rooms without lots of doorways to block the flow during family gatherings.
Step into the large eat-in kitchen with its warm cabinetry which opens to the family room. With its brick fireplace, and views of the large deck overlooking the back yard, this will be the heart of the home.
The elegant master suite has room for a king bed, coffered ceilings, and a seating nook for lounging.
Rich cabinetry, dual sinks, and an extra large shower in the master bath and huge walk-in closet complete the master suite.
Five bedrooms and four full baths mean there is plenty of room for everyone to spread out. All of the home’s finishes, including bathrooms, are upgraded and high end.
The home’s full finished basement has a bedroom, a full bath with upgraded finishes and a full kitchen; in addition there is a bonus room for an office, rec room, or media space.
A spacious fenced back yard with a play structure has room for children and pets to safely play.
Easy access to the Silver Comet Trail and recreational amenities at West Smyrna Swim and Tennis and Cooper Lake Park will keep your active family busy all year long.
With so much more than can be conveyed here, you need a tour of this great home to really appreciate it; give me a call or reach out via my listing website to set up an appointment.
4680 Derby Lane SE Smyrna, GA 30082
Property overview: 5 bedrooms ; 4 bathrooms ; 2 car garage ; deck; fenced backyard ; kitchen in basement; close to Silver Comet Trail , West Smyrna Swim Tennis , Cooper Lake Park
Schools: King Springs / Griffin / Campbell
Offered at $475,000
This light-filled home is set in a serene gated community in Roswell with easy access to GA 400 for an easy commute.
Three floors of living space give you a gorgeous open floor plan but still allow for plenty of privacy. With easy flow between the front entrance hall, living, dining and kitchen areas, it’s a great home for entertaining friends and family.
Banks of windows (and the elbow room between houses in this neighborhood) keeps the home light and bright.
The clean, modern paint colors throughout make it a great backdrop for your own personal touches and artwork.
The main level’s open floor plan doesn’t lack visual interest with beautiful beamed ceilings and moldings and built-ins around the fireplace.
Gorgeous dark hardwoods are throughout the main floor; they contrast beautifully with the lighter cabinetry and quartz counter tops in the chef’s kitchen
And what chef’s kitchen doesn’t need a walk-thru butler’s pantry with enclosed pantry shelving and glass cabinetry to display your barware and serving pieces. Just off the dining room, there is a wine fridge at arm’s reach.
The oversized master suite has room for a king sized bed with plenty of room for a quiet lounge area too.
Dual vanities with dark wood cabinetry and quartz counters flank the master bath’s soaking tub; a glass shower and massive walk-in closet with plenty of shelves and storage complete the master suite.
With 5 bedrooms, there is room for the whole family, plus a home office, personal dressing room, or hobby room on the top floor.
The walk-out basement has a comfortable carpeted family room, perfect for movie nights!
Enjoy the patio overlooking the backyard without the work! The neighborhood’s HOA takes care of yard maintenance so you can just put your feet up on the weekend instead of pulling out the lawn mover.
Or you can enjoy some of the neighborhood’s amenities, like it’s pool or tennis facility. All of this at your fingertips without the lawn care!
Give me a call to set up a viewing – this property is in a very desirable neighborhood so it will go fast! Get more details on the house and neighborhood listed here and let’s schedule a walk-through!
1065 Merrivale Chase Roswell, GA 30075
Property overview: 5 bedrooms ; 6 bathrooms ; 4,428 sq.ft ; oversized master suite ; finished basement with media room ; 2 car garage ; lawn care by HOA ; gated swim / tennis community w/ easy access to GA 400
Schools: Esther Jackson / Holcomb Bridge / Centennial
Offered at $599.900
Just SOLD! A gorgeous gated estate on almost 2 acres with beautiful pool and detached garage! Congratulations to the new homeowners!
1200 Mount Paran Rd NW, Atlanta, GA 30327
Property overview: 5 bedrooms; 5.5+ bathrooms; 6,218 sq.ft.; gated estate on 1.91 acre lot
Schools: Jackson / Sutton / North Atlanta
Offered at $3.6M
Take a look at my other listings or give me a call to talk about putting together a great selling strategy for your home; visit my website and give me a call today!
Buy into one of Vining’s best neighborhoods priced at lot value! Access to the amenities of the Cochise Club are available and there are sidewalks to Vining Village.
The home’s current footprint is a spacious 3,400 sq.ft, but the acre lot leaves plenty of room to expand.
A ranch style fixer on a large, quiet lot, the home will require a full remodel but the location is unbeatable! New homes on this street are priced around $2M + and a new development around the corner is selling at $1.8M and up. And finding a full acre lot in this area is really rare.
The mature trees on the lot are visible from the large sunroom; the back yard slopes away toward a creek, creating more private surroundings.
There are three bedrooms on the main floor along with the living areas and sunroom; a daylight basement included in the home’s square footage.
If you’re looking for a great lot to build your dream home, you couldn’t ask for a better spot with Vinings amenities and Cobb Co taxes! Take a look at my listing or call me to get all the details on the property survey and options for a remodel or new build. There is so much potential here!
4201 Brookview Dr SE Atlanta GA 30339
Property overview: 3 bedrooms; 2 bathrooms; 3,465 sq. ft.; ranch-style fixer; 1 acre lot; Cochise Club access; walkable to Vinings Village
Schools: Teasley / Campbell / Campbell
Offered at $595,000 (priced at land value)