FHA Loans are scheduled to receive more help for borrowers affected by COVID


As we start to see light at the end of the tunnel with things getting back to normal from COVID, some people have new worries added to their plate. People who have a mortgage and have been paying less due to lost income from COVID are getting worried that they will now owe all this extra money. Many of my buyers use the FHA Loan to buy their Florida Keys Home. With an FHA loan the borrower only has to put down 3.5% of the purchase price which is great but now they owe more money. Buying a piece of Florida Keys Real Estate is a dream come true. Don't let it turn into a nightmare. The Federal Housing Administration (FHA) will help.

The Article below was put out by The Florida Association of Realtors regarding FHA Loans.

FHA Adds New Help for Homeowners Impacted by COVID-19

In addition to a foreclosure extension, owners with an FHA home loan now have forbearance extension options and can find help via FHA’s new outreach program.

WASHINGTON – On Friday, the Federal Housing Administration (FHA) announced more measures to help homeowners with FHA-insured mortgages who are struggling financially due to the COVID-19 pandemic. These measures provide additional, immediate relief, while expanding outreach about home retention options for struggling homeowners.

“We must continue to take action to ensure that those who may have experienced hardships brought on by COVID-19 have the support they need to remain in their homes,” says Housing and Urban Development (HUD) Secretary Marcia L. Fudge.

“These measures are important steps we need to take to ensure that the individuals and families that continue to struggle financially due to COVID-19 have access to effective and meaningful recovery options,” adds FHA Principal Deputy Assistant Secretary Lopa Kolluri, saying FHA will also “continue to assess additional solutions to help homeowners in distress keep their homes and avoid future foreclosure where possible.”


Extended single family foreclosure and eviction moratoria

In conjunction with the president and other federal agencies, FHA extended its foreclosure and eviction moratoria for all FHA-insured single family mortgages, except vacant or abandoned properties, through July 31, 2021.

FHA also continued its deadline extension for a first legal action and reasonable diligence timeframes for 180 days after July 31, 2021. It says that will give servicers additional time to focus on assisting distressed homeowners. The extension excludes vacant or abandoned properties.

Extended covid-19 forbearance request timeframes

FHA extended the time period for homeowners to start a new forbearance plan to Sept. 30, 2021, so those who haven’t previously applied for COVID-19 forbearance can request a pause or reduction in mortgage payments. The COVID-19 Forbearance for homeowners who newly request assistance between July 1, 2021, and Sept. 30, 2021, is for six months.

For homeowners who received a forbearance from their mortgage servicer between July 1, 2020, and September 30, 2020, FHA is providing one additional three-month forbearance extension for those who need and request additional time to recover financially before resuming mortgage payments.

COVID-19 advance loan modification

FHA also introduced a new home retention option – the COVID-19 Advance Loan Modification (COVID-19 ALM) – which could offer significant payment relief to eligible owners.

The COVID-19 ALM will be offered to borrowers who are 90 or more days delinquent or at the end of their COVID-19 forbearance. It’s directed at owners who have a 30-year rate and term mortgage modification, and will bring the mortgage current and reduce the principal and interest portion of their monthly mortgage payment by at least 25%.

Mortgage servicers must now review their FHA servicing portfolio and offer the new COVID-19 ALM to distressed homeowners who qualify. To accept the modification, borrowers simply need to sign and return the mortgage modification documents to their mortgage servicer.

Failure to accept the ALM doesn’t cancel out other loss mitigation options. Borrowers who cannot make the modified mortgage payments with the COVID-19 ALM or have other questions should contact their mortgage servicer to learn about other options.


Home Equity conversion mortgage COVID-19 extensions

To assist seniors with Home Equity Conversion (reverse) Mortgages (HECMs), FHA extended their ability to request an extension before the servicer may request the loan be called due and payable. For extension requests received between July 1, 2021, and Sept. 30, 2021, servicers must grant homeowners an extension of up to six months.

For HECM homeowners with loans that have already been called due and payable, servicers must approve homeowner requests for an extension for any deadline related to foreclosure and claim submission of up to six months when the request is received between July 1, 2021, and Sept. 30, 2021.

For all HECMs that received an extension between July 1, 2020, and September 30, 2020, FHA is providing one additional three-month extension period if needed, providing the homeowner requests an extension from their mortgage servicer.

FHA urges all at-risk homeowners to contact their servicers immediately if they haven’t already done so. They can also consider contacting a HUD-approved housing counseling agency.

© 2021 Florida Realtors® 

Don't let COVID add and additional stress into your life. We are finally seeing light at the end of the tunnel. Life is short, buy a home in The Florida Keys. Call me today at 305-731-0501 and I will start sending you links direct from the MLS every time there are new listings of Florida Keys Homes For Sale that meet your needs.

Gary

Gary McAdams, PA
Realtor/Notary Public
Barbara Anderson Realty
Key West, Florida 

Fun it the Florida for under $5. Feed the Tarpon at Robbie's Marina


There are few things more fun or important in life as buying a home in the Florida Keys. Why not buy that home from me then go explore what the Keys have to offer? Since you'll be a resident you can explore something new every day. A few years ago, I learned about how to feed the tarpon at Robbie’s Marina in Islamorada via word of mouth.

Robbie’s at Mile Marker 77 is famous now — it draws big crowds.

It’s still fun, although more crowded and commercial. The nearby restaurant, the Hungry Tarpon, has expanded to provide extensive waterfront dining. When we first visited, it was little more than a weathered wooden cottage

The big draw at Robbie’s Marina is the chance to see 50 to 100 enormous tarpon swimming around the dock in clear water only a few feet deep. You pay $2.25 to go out on the dock and it’s another $4 for a bucket of fish pieces to toss to them. It might be the most entertainment you’ll find in the Keys for a few bucks.


Tarpon grow to 5 to 8 feet long and weigh 80 to 150 pounds, so these aren’t the usual fish that gather when you throw bread crusts into the water in the Keys. These are among the great saltwater game fish, prized for their fight (but not as food.)

Robbie’s is a good marina to book a fishing charter, diving trip or rent a kayak. It became the favorite buffet for tarpon through an act of kindness.


More than two decades ago, the owners of Robbie’s saw a tarpon they named Scarface floundering in shallow water. When Robbie went to guide the fish into deeper water, he discovered its jaw was ripped open.

According to the story on Robbie’s website, he summoned a friend who stitched the jaw with twine and a mattress needle. After hand-feeding the fish for six months in a tank, a healthy Scarface went back into the wild. But not quite. Scarface kept coming back. And then he began bringing his friends.

Today, the dock is filled with visitors in awe of the tarpon convention that happens every day.

The powerful silver fish flash in the sunlight as they lunge for the snacks dropped by visitors. Brave (I would actually say dumb) visitors try to hand-feed the fish, providing entertainment for those content to keep a distance.

Be prepared for aggressive pelicans that try to steal the fish before they reach the tarpon. Visitors often see manatees or nurse sharks near the docks too. 


Overlooking the marina and fish frenzy are outdoor tables from the Hungry Tarpon, a funky wooden fish shack built in 1947. For years, its breakfasts have been famous and its fish sandwiches popular for lunch. Now, the Hungry Tarpon has spread tables out along the waterfront for expanded seating. 

Now that you know about a new fun adventure in Islamorada let's start the adventure. The first step is to call me. The second step is to go shopping for a Florida Keys Home. Then all you have to do is but the house and let the fun begin.

Gary

Gary McAdams, PA
Realtor/Notary Public
Barbara Anderson Realty
Key West, Florida 

Key West and Lower Florida Keys Real Estate Market Activity, 06/21/21

 Sometimes Modnays start off slow. Today is one of those times. We added a little inventory to the Key West and Lower Keys market. Just not a lot. We had 3 great listings come on the market in Key West and the Lower Florida Keys. Looking for your dream home? It might be listed below. If you don't see something you like, no worries, I'm sure I can find it for you. There are hundreds more to choose from. Call me at 305-731-0501 or email me at garymcadams@realtorgary.com and let me know what your "Perfect House" would be. More than likely I will locate it.

Address: 1213 First Street KEY WEST FL 33040 , Key/Island: Key WestStatus: Active County: Monroe
 
 
MLS#596581
Prop TypeResidential
StyleHalf Duplex
ZoningMDR-1 - Medium Desnity Residential
WaterfrontNo
PoolNo
Flood ZoneAE
Species List 
Control Depth0.00
SideMedian
AuctionMidtown West
Unit/Complex 
Rentals AllowedNo
Max Rental Days 
Min Rental Days 
Price$ 422,000
Taxes$ 2,430.87
Tax Year2020
Year Built1950
Living Apx SqFt750
SqFt SourceProperty Data Card
Lot Size 
Lot SqFt3,793
Acres0.09
Total Units 
Handicap Access 
SideMedian
ROGO Exempt 
Area: 03 - Key West
Subdivision: Sunshine Sub Plat 3 (3.0)
Total Bedrooms2
Full Baths1
Half Baths0
Dcmntd Septic Tnk 
Listing BoardKey West Association
Alternate Key #9102905
Parcel #00051750-000100
Add'l Parcel #1 
Add'l Parcel #2 
User Defined 16 
Deed RestrictionsAffordable Housing
As is Rght to Inspct 
Limitd ReprsntationNo
Legal: RESIDENTIAL UNIT A OF 1213-1215 TOWNHOMES (F/K/A BK 5 PT LT 1 SUNSHINE SUB PLAT NO 3 PB 2-169) OR51-144/45 OR538-865 OR9
Directions:  
Remarks - Consumer: ELEVATE YOUR QUALITY OF LIFE. Immaculate one-half duplex being offered for sale. Two bedrooms, one bath on a massive 3,700 sq ft lot. Conveniently located in the center of Key West and is close to shopping, transportation, and Garrison Bight Marina. Large polished tile flooring throughout the home ensures that each room blends seamlessly into the next. The living room flows through the dining area and into a galley-style kitchen with clean lines, granite countertops, and stainless steel appliances. On-demand hot water, mini-split ac units, and fresh paint make this property turn-key. Buyers need to qualify under Workforce Housing Ordinance and Monroe County Income Guidelines.
 
Construction:CBS
Building Style:Above Flood: Unknown; Stories: 1 Story
Waterfront:None
Waterview:No Waterview
Dockage:None
Cooling/Heating:Ductless A/C
Porch/Balcony:Patio
Utilities:FKAA; Municipal Sewer
Appliances:Oven; Range; Refrigerator; Stainless Steel Appl
Floor:Tile Floor
Pets:Pets Allowed
Land Size:Less Than 1/4 Acre
Association Info:Mandatory Home Owners Asc: No; 1st Right of Refusal: No; Association Fee $: 0
Fee Includes:None
Tax Exemptions:None
  
Days On Market1
 
 
Provided as a courtesy of
Gary McAdams
Barbara A. Anderson Realty
4139 Eagle Ave
Key West, FL 33040
Mobile - (305) 731-0501
garrettmcadams@gmail.com
http://www.realtorgary.com
Additional PhotosListing # 596581
 

Information is deemed to be reliable, but is not guaranteed. © 2021 MLS and FBS. Prepared by Gary McAdams on Monday, June 21, 2021 8:40 AM. The information on this sheet has been made available by the MLS and may not be the listing of the provider. Courtesy of Coastal Collection Real Estate.

Address: 233 Geiger Road Geiger FL 33040 , Key/Island: Geiger KeyStatus: Active County: Monroe
 
 
MLS#596586
Prop TypeResidential
StyleSingle Family
ZoningSR - Sub Urban Residential District
WaterfrontYes
PoolNo
Flood ZoneAE
Species List 
Control Depth19.00
SideOcean
Auction 
Unit/Complex 
Rentals AllowedYes
Max Rental Days 
Min Rental Days 
Price$ 649,000
Taxes$ 3,062.57
Tax Year2020
Year Built2004
Living Apx SqFt1280
SqFt SourceSurvey
Lot Size5196
Lot SqFt5,196
Acres0.12
Total Units0
Handicap AccessNo
SideOcean
ROGO Exempt 
Area: 05 - Stock Island to Shark Key
Subdivision: Geiger Mobile Home (9.0)
Total Bedrooms3
Full Baths2
Half Baths0
Dcmntd Septic Tnk 
Listing BoardKey West Association
Alternate Key #1187194
Parcel #00145840-000000
Add'l Parcel #1 
Add'l Parcel #2 
User Defined 16 
Deed RestrictionsNo
As is Rght to InspctYes
Limitd ReprsntationNo
Legal: BK 4 LT 51 GEIGER MOBILE HOMES GEIGER KEY PB-5-77 OR472-147 COUNTY JUDGES DOCKET 73-233 OR805-270/P PROBATE #75-290-CP-1
Directions: Take Boca Chica Rd off US 1, right on Venus, left on Geiger Rd, 3rd house on left.
Remarks - Consumer: Rare opportunity to own a unique piece of paradise nestled on a quiet dead-end street. Enjoy unobstructed views from your balcony in front overlooking Navy owned property or out on your back deck where you have picturesque views of sun, sky and water on your ocean access canal. Perfect for relaxing and watching sunrises, sunsets or entertaining family and friends. This beautiful stilt home sits on a large lot and features 3 beds, 2 full baths, a storage area below and covered parking. A metal roof replaced in 2017, a recently renovated kitchen with stainless steel appliances plus a concrete sea wall to dock up to a 19 foot boat. Definitely a must see to truly appreciate!
 
Construction:Modular
Building Style:Above Flood: Yes; Stilt Column Height: Medium - 5Ft - 9Ft; Stories: 2 Stories
Waterfront:Canal Front
Waterview:Canal View
Dockage:Dock Length: 52; Dock: Concrete
Vehicle Storage:Car(s): 3; Covered Parking
Furnished:Unfurnished
Cooling/Heating:Ceiling Fans; Central A/C
Porch/Balcony:Deck; Open Porch/Balcony
Utilities:Cable Available; FKAA; Municipal Sewer; Satellite Dish; Water Separate Meter; Other - See Remarks
Interior Features:Smoke Alarms
Pre-Wired:Cable; Satellite
Appliances:Dishwasher; Dryer; Microwave; Oven; Refrigerator; Stainless Steel Appl; Washer; Water Purification
Exterior Features:Fruit Tree(s)
Property Condition:Updated/Remodeled
Windows/Doors:Glass Doors; Impact Rstnce Doors; Sliding Glass Doors
Floor:Laminate; Tile Floor; Wood Floor
Roof:Metal Roof
Pets:Other See Remarks
Neighborhood Feature:Fire Hydrant
Land Size:1/4 - 1/2 Acre
Terms:Cash; Conventional; FHA; No Seller Finance
Title:Title Ins - Buyer
Association Info:Mandatory Home Owners Asc: No; 1st Right of Refusal: No; Association Fee $: 0
Fee Includes:Other
Tax Exemptions:Homestead
Financial Status:Standard Sale: Yes
  
Days On Market0
 
 
Provided as a courtesy of
Gary McAdams
Barbara A. Anderson Realty
4139 Eagle Ave
Key West, FL 33040
Mobile - (305) 731-0501
garrettmcadams@gmail.com
http://www.realtorgary.com
Additional PhotosListing # 596586
 

Information is deemed to be reliable, but is not guaranteed. © 2021 MLS and FBS. Prepared by Gary McAdams on Monday, June 21, 2021 8:40 AM. The information on this sheet has been made available by the MLS and may not be the listing of the provider. Courtesy of Century 21 All Keys.

Address: 1320 South Street KEY WEST FL 33040 , Key/Island: Key WestStatus: Active County: Monroe
 
 
MLS#596587
Prop TypeResidential
StyleSingle Family
ZoningSF - Single Family
WaterfrontNo
PoolYes
Flood ZoneAE
Species List 
Control Depth0.00
SideMedian
AuctionMidtown West
Unit/Complex 
Rentals AllowedYes
Max Rental Days 
Min Rental Days30
Price$ 2,299,000
Taxes$ 15,567.33
Tax Year2020
Year Built2008
Living Apx SqFt3220
SqFt SourceProperty Data Card
Lot Size 
Lot SqFt4,945
Acres0.11
Total Units0
Handicap Access 
SideMedian
ROGO Exempt 
Area: 02 - Key West
Subdivision: Key West Investment Co Sub (1.0)
Total Bedrooms3
Full Baths4
Half Baths0
Dcmntd Septic Tnk 
Listing BoardKey West Association
Alternate Key #1042331
Parcel #00041670-000000
Add'l Parcel #1 
Add'l Parcel #2 
User Defined 16 
Deed RestrictionsUnknown
As is Rght to InspctYes
Limitd ReprsntationNo
Legal: KW TROPICAL BLDG AND INVESTMENT CO SUB LOT 15 SQR 6 TR 19 PB1-34 G36-313/314 OR892-1573/1574 OR897-1189 OR1273-186D/C OR
Directions: 1320 South Street between Tropical Street & Leon Street.
Remarks - Consumer: Built in 2008 this spacious 3,220sf home located on a 4,945sf lot is one not to be missed! Centrally located, just a short distance to the beaches, great dining options, bars, museums and much more! Upstairs you will find 3 great size bedrooms with their own en-suite bathrooms & walk in closets. Downstairs is a great living & entertaining area with a 4th bathroom, a stunning chefs kitchen with high end stainless steel appliances that include a 48 inch Viking gas range, refrigerator, ice maker, dishwasher, built in steamer, a wine cooler and built in cabinetry. 2 laundry areas can also be found, 1 downstairs & 1 upstairs along with a 2-Zone HVAC system, impact windows and sliding glass doors & Tigerwood flooring throughout. More...
The exterior has Hardi plank siding which provides for low maintenance. Ipe decking & a heated waterfall pool can be found outside, surrounded by lush tropical landscaping & a completely fenced outdoor space. Home has been recently painted inside & out, has a new whole house generator & 2 off street parking spots with plenty of parking out front available for visiting family or friends.
Construction:Frame; Hardi Board Siding
Building Style:Above Flood: Unknown; Stories: 2 Stories
Waterfront:None
Waterview:No Waterview
Dockage:None
Vehicle Storage:Car(s): 2; Off Street Parking
Furnished:Furniture Negotiable
Cooling/Heating:Ceiling Fans; Central A/C
Porch/Balcony:Deck; Open Porch/Balcony; Patio
Utilities:Buyer to Verify; FKAA; Municipal Sewer; Propane; Whole House Generatr
Interior Features:Built-in Cabinets; Granite Counter Top; Storage; Walk-in Closet; Wet Bar; Whirlpool Bath Tub
Appliances:Dishwasher; Disposal; Dryer; Gas Appliances; Microwave; More Appliances; Oven; Range; Refrigerator; Stainless Steel Appl; Washer; Wine Cooler
Exterior Features:Fencing; Privacy Wall/Fence; Storage; Water Display
Pool Info:In Ground; Heated: Yes; Concrete; Decked
Property Condition:Updated/Remodeled
Windows/Doors:Aluminum Windows; Impact Rstnce Doors; Impact Rstnce Window; Single Hung Windows; Sliding Glass Doors
Floor:Tile Floor; Wood Floor
Roof:Metal Roof
Pets:Pets Allowed
Land Size:Less Than 1/4 Acre
Terms:Cash; Conventional
Title:Negotiable
Association Info:Mandatory Home Owners Asc: No; 1st Right of Refusal: No; Association Fee $: 0
Fee Includes:None
Tax Exemptions:Homestead
  
Days On Market0
 
 
Provided as a courtesy of
Gary McAdams
Barbara A. Anderson Realty
4139 Eagle Ave
Key West, FL 33040
Mobile - (305) 731-0501
garrettmcadams@gmail.com
http://www.realtorgary.com
Additional PhotosListing # 596587
 

Information is deemed to be reliable, but is not guaranteed. © 2021 MLS and FBS. Prepared by Gary McAdams on Monday, June 21, 2021 8:48 AM. The information on this sheet has been made available by the MLS and may not be the listing of the provider. Courtesy of Truman and Co.

Please call me at 305-731-0501 or email me at garymcadams@realtorgary.com if you would like to see one of these great properties or any or the other the hundreds of other properties available in Key West and the Florida Keys. 
 
Gary
 
Gary McAdams, PA
Realtor/Notary Public
Barbara Anderson Realty
Key West, Florida 

MARATHON set to host its first Post-Pandemic Festival: Brew BQ


Everyone has been wondering if there is an end in sight for this COVID that has practically crippled our economy. Areas like the Florida Keys have been especially hit hard because we are so contingent on tourism which, for the most part, requires people to fly. We are seeing the light at the end of the tunnel. Kill two birds with one stone. Fly into the Florida Keys, buy a home from me and attend the Beer and BBQ festival in Marathon known a Brew BQ. The time is here. You too can own a home in the Florida Keys.  

We’re coming out of the coronavirus fog and can see what’s on the horizon: good times. The Florida Keys Brew BC set for Saturday and Sunday, July 17 and 18 at Marathon Community Park. It’s a chance for the community — and visitors — to come together for a good time and a good cause. 

“We just can’t take the past year lying down,” said Daniel Samess, CEO of the Marathon Chamber of Commerce. “We had to cancel the massive and popular Original Marathon Seafood Festival scheduled every March. But the fact is that events like these fund the needs of our most vulnerable — whether that’s a food pantry or first-time college students from Marathon.”


Organizers have been working diligently for months to line up the following: amateur grillmasters willing to put their cooking on the line for a friendly competition, live music, kids games, vendors selling cool stuff and boats. 

Samess said the festival food will be provided by two “big rig” barbecue vendors — those massive trucks hauling massive grills — a local taco eatery (La Isla Tacos) and the Green Turtle Inn’s food truck from the Upper Keys. 

The amateur cooking competition has two categories: pulled pork and brisket. The winners of the best pig dish will be announced on Saturday at 9 p.m. and the best beef dish will be Sunday at 3 p.m. 

Of course, guests need something to wash down all that great food. Florida Keys BrewBQ will feature 20 craft beers from breweries like Islamorada Beer Company, Florida Keys Brewing Company and Key West’s Waterfront Brewery. But local amateur beer makers refuse to be left out of the fun; the Southernmost Homebrew Club is having its own taste-off. 

Festival organizers are aiming for a mid-size crowd of vendors selling everything from fishing shirts to art to information booths staffed by local businesses and nonprofits. 

The festival runs from 11 a.m. to 10 p.m. on Saturday, July 17 and noon to 5 p.m. on Sunday, July 18. Admission is $5 per person, per day, and children under 12 are free. The Marathon Chamber of Commerce is also selling VIP tickets onlinefor $50 that includes admission for four people, four drink tickets and two event beer mugs.


Besides food and beer, the Florida Keys Brew BQ also has two days of live music scheduled for the festival in mid-July, most notably, Bridgette Tatum. She wrote the 2009 hit “She’s Country,” made famous by Jason Aldean. In 2010, Tatum’s song “Loud” was selected as the official theme song for ACC football’s 2010 season. She’s also written hits for the likes of Randy Houser and Kristy Lee Cook, plus her own originals.

What a great way to get out of the COVID shell than come to the Florida Keys, drink beer, listen to music and buy your dream home from me. You too can live in the Florida Keys and I can help you make that happen.

Gary 

Gary McAdams, PA
Realtor/Notary Public
Barbara Anderson Realty
Key West, Florida 

Key West and Lower Florida Keys Real Estate Market Activity, 12/01/2021

December is here. That means cold weather is here too. Though, when you live in the Florida Keys, 70 degrees is "Cold Weather". Ho...