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Nicholas Goglucci
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    Years of Experience: 10

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Direct: (954) 650-7800

Office: 954-650-7800



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RE/MAX Parkcreek
Fort Lauderdale, Florida
954-650-7800


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Loan Modification or Short Sale – Is there a Choice Anymore?

Posted by Nicholas Goglucci | on Wednesday, June 9th, 2010 at 3:31 pm
Category: Coconut Creek, Fort Lauderdale, Light House Point, Loan Modifications, Parkland, Pompano Beach, Short Sales.
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Recently – I went on a listing appointment and met a couple who tried unsuccessfully to do a loan modification with the bank.

They had purchased a condo for $255,000 in 2006 and now it is worth about $90,000 in today’s market. Condos have been hit harder than single family homes in South Florida.

The couple called the bank with the help of an attorney - received the “temporary” loan modification and “probationary period” for three months. Three months passed and they made the payments on time and thought the bank would give them the “permanent” loan modification which was promised if they passed the probationary period.

Well – they like thousands of other loan modifications were denied. Banks are not approving the “permanent” loan modifications. I know of a bank who approved of 18,000 probationary loan modifications but only approved 18 permanent loan modifications.

EIGHTEEN OUT OF EIGHTEEN THOUSAND!

How can this be working? How is that fair to promise the customer of a permanent loan modification if they pass the three month probationary period only to be denied and told they should do a short sale transaction.

The bank told the customer to call me and list the property for sale and they will approve a short sale with a satisfactory market value contract.

Seems to me the banks are more willing to approve short sales than actually approve a “permanent” loan modification even after some have paid attorney’s thousands of dollars only to be approved for three months and after be told to do a short sale?

If you need professional consultation in short sales and loan modification call Nicholas Goglucci @ 954-650-7800

I can help you – give Nicholas Goglucci – Certified Short Sale Specialist a call.

954-650-7800

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South Florida Homeoweners – Are You In Trouble?

Posted by Nicholas Goglucci | on Tuesday, June 1st, 2010 at 8:44 pm
Category: Fort Lauderdale.
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If you’re in trouble with your mortgage, you’re probably aware of it, but it’s likely that you’re not doing much to make it better. Some repress or ignore that they cannot meet their monthly mortgage obligation. Others agonize and worry to the point of depression. The truth is that doing nothing will only cause the problem to get worse if you ignore the problem. Call Nicholas Goglucci if you fall into the following catagories -
  • Do you owe more than your property is worth?
  • Have you received a foreclosure notice?
  • You’re not sure how much you currently owe
  • Your lender is being uncooperative
  • You’re supplementing monthly income with money from your savings
  • You’re using credit cards to pay basic living expenses.

Nicholas Goglucci, PA

RE/MAX ParkCreek, Inc.


“Each Office Independently Owned and Operated”

Fort Lauderdale, Florida

E-mail: nicholasgoglucci@aol.com

Direct: 954-650-7800

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U.S. Treasury Department Set Guidelines For The Short Sale Process

Posted by Nicholas Goglucci | on Thursday, May 27th, 2010 at 4:16 pm
Category: Coconut Creek, Condos, Coral Springs, Foreclosures, Fort Lauderdale, Housing Market, Light House Point, Loan Modifications, Luxury Homes, Parkland, Pompano Beach, Real Estate, Short Sales.
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 U.S. Treasury Department set guidelines for the Short Sale process
that will go into effect April 5, 2010.

  • The new Short Sale Guidelines are: Mortgage servicers have 10 days to accept or deny a short sale request. After a sale is completed, the borrower could be completely released from debt.
  • Borrowers are eligible to receive a $1,500 moving allowance, if they sell their home through a short sale. Mortgage servicers will receive $1,000 for each completed short sale.
  • Investors who hold first mortgages can get as much as $1,000 for allowing second lien holders to release their liens. A lien is a charge against a property that makes it security for payment of things such as a mortgage, debt or taxes.
  • Second lien holders can get only as much as $3,000 in proceeds from short sale to release their liens.

For more information on the short sale process and how to successfully  obtain a short sale for your property -  Call Nicholas Goglucci @ 954-650-7800

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Loan Modification Shortfalls

Posted by Nicholas Goglucci | on Thursday, May 27th, 2010 at 4:06 pm
Category: Coconut Creek, Coral Springs, Fort Lauderdale, Light House Point, Loan Modifications, Parkland, Pompano Beach, Short Sales.
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Reasons people get denied a mortgage modification:

#1 Incomplete, Improper, or Inaccurate Mortgage Modification Application

By far, the most common reason applications get denied, even for homeowners with great credit, is due to a improperly, inaccurately, or incomplete mortgage modification application. Homeowners can easily avoid this by using Freedom From Foreclosure Software. We will walk you through the application and financial statement to ensure you have everything properly filled out. Because it is web based we can make corrections before it goes to the lender.

#2 Missing or having the Wrong Documents

This is another common problem many homeowners make when getting a modification. Things such as income verification, bank statements, tax returns, and related information needs to be readily available, and accessible, for your mortgage lender or bank to approve your application. If you are missing vital financial, personal, or related information this will hold the process up for weeks and even months.

Contact Nicholas Goglucci @ 954-650-7800 for more information -

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LIGHTHOUSE POINT, FLORIDA

Posted by Nicholas Goglucci | on Thursday, May 27th, 2010 at 3:43 pm
Category: Light House Point.
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Lighthouse Point is located in Broward County along the Intracoastal Waterway. This self-sufficient, friendly and prosperous community is small, proud and close-knit, with an air of informal affluence. Neighborhoods are quiet and well kept. Many homes are on the city’s 18 miles of waterways and some have deepwater access. Real estate options here consist of single-family homes, condominiums and townhouses.

 

 There are 13 miles of paths, trails and sidewalks in Lighthouse Point. City parks feature athletic fields; tennis, racquetball, basketball, and volleyball courts; playgrounds; picnic areas and open space. Lighthouse Point Parks and Recreation Department offers classes, sports leagues and activities year round for all ages.

 

The Lighthouse Point Tennis Center has a pro shop along with excellent facilities. Activities for all ages are also available at the city’s public library where book clubs meet, story time is a favorite, craft time brings out the artist in everyone, and children can receive literacy help. The library sponsors day trips for adults, and ever-changing art exhibits adorn the walls.

 

 Children are served by Broward County School District, the nation’s largest fully accredited school district. There are also private schools in the area. Annual city events include Dog Day in the Park, Halloween Party, Keeper Days, Lighthouse A’Glow – A Holiday Gathering, Nautical Flea Market, Pops in the Park, and Spring Egg Hunt.

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What Do You Mean I Can’t Keep My Dog?

Posted by Nicholas Goglucci | on Tuesday, May 18th, 2010 at 5:20 pm
Category: Coconut Creek, Uncategorized.
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I have a listing in Coconut Creek, Florida. It is a beautiful condo in the Township – a development by Minto Builders which did a spectacular job – and it still is as popular today as it was first built.

That being said, there are many subdivisions in the Township with individual condo associations. All ages are welcomed – but some have pet restrictions which are rather inconvenient to buyers and sellers -

Sellers want to sell the property to 100% of the buyer population – pet restrictions limit the numbers of buyers options – therefore primarily the price drops considerably because the property cannot be marketed to all pontential buyers.

Restrictions are helpful for the betterment of society - but when 70% of the American population actually have pets – it does limit the number of buyers for the property.

Supply and demand - I wonder what condo associations think when ratifying the condo docs to restrict pets?

Do they know that they are lowering the property value for the whole community?

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What To Do Before The Short Sale Contract -

Posted by Nicholas Goglucci | on Thursday, April 22nd, 2010 at 7:47 pm
Category: Short Sales.
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I have agents asking me questions about my short sale listings all the time. Some of the basic questions is how far into the short sale process is this property?

Now lets get one thing straight, most banks will not proceed without an executed contract.I have heard of transactions in which the bank ordered the BPO ( Broker’s Price Opinion ) before an executed contract, but this is rare in my opinion.

I have written out some items that will make the short sale process a much easier transaction to get to the closing table, and in a timely manner if you have what the bank is looking for.

Having these updated items is important for the transaction to close and the bank having the necessary information to approve the short sale.

Keep these items updated every month – banks will ask for updated information so it imperative that the seller keep the records up to date.

Important Items you may need to submit with your request for a Short Sale:

  1. Hardship Letter
    • Provide a letter detailing the events which have made it difficult for you to make your payments.  MUST BE Signed AND Dated.
    • The letter must include the following:
      • The reason for the Short Sale request.
      • New addresses and phone numbers for all parties to the Note and Deed of Trust, if applicable.
  2. Employment / Income Verification
    • Provide a copy of the last 2 paycheck stubs for each party that signed the Note.
    • If self employed, provide an income statement showing the past 2 months of income.
  3. Financial Affidavit
    • Financial Evaluation Form (detailing expected monthly expenses vs. Income). Complete and include with your submission.
    • Must be signed and dated.
  4. Bank Statements
    • Provide a copy of the last 2 months of Bank Statements.
  5. IRS Tax Returns
    • Provide a copy of the last 2 years of IRS Tax Returns.
  6. Mortgage Statements( all loans/1ST & 2ndloans / HELOCS )
    • Provide a copy of the last monthly mortgage statement(s) regarding the property.
  7. Copy of the Listing Agreement
    • Provide a copy of the Listing Agreement, MUST BE SIGNED BY THE BROKER AND OWNER OF THE PROPERTY.
  8. Copy of the Sales Contract

You need to Provide a copy of the Sales Contract.  The Contract must be legible and MUST be signed by all parties.

  Please be advised that no consideration will be given without an executed sales contract. As per the negotiators of the banks.

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Gorgeous BrookSide Grove Home On Lake -Coral Springs, Florida

Posted by Nicholas Goglucci | on Thursday, April 22nd, 2010 at 7:11 pm
Category: Coral Springs.
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Nicholas Goglucci, PA. | Re/Max ParkCreek, Inc. | nicholasgoglucci@aol.com | 954-650-7800
4921 NW 101ST AVENUE, Coral Springs, FL
Brookside Grove
4BR/2+1BA Single Family House
offered at $474,500
Year Built 1991
Sq Footage 3,304
Bedrooms 4
Bathrooms 2 full, 1 partial
Floors 1
Parking None
Lot Size Unspecified
HOA/Maint $25 per month

DESCRIPTION

Brookside Grove At Its Finest – Location, Location, Location – Gorgeous Four Bedroom/Two and One Half Bath Waterfront Pool Home – Original Owners Maintained This Property To Perfection – Stunning Designer Kitchen With Cherry Wood Cabinets And Top Of The Line Stainless Steel Appliances – Complete With Granite Countertops – Neutral Tile Throughout Entire Home – Huge Family Room – New Roof – New Hot Water Heater – New AC – New Screened Pool And Large Covered Patio – South East Exposure – Two Car Garage With Extended Paved Driveway – Sprinkler System (do not pay for water) – Top Coral Springs School District – Private No Thru Traffic Street – Professionally Landscaped
see additional photos below
PROPERTY FEATURES

- Central A/C - Central heat - High/Vaulted ceiling
- Walk-in closet - Tile floor - Family room
- Living room - Dining room - Dishwasher
- Refrigerator - Stove/Oven - Microwave
- Granite countertop - Stainless steel appliances - Attic
- Washer - Dryer - Laundry area – inside
- Yard - Swimming pool


COMMUNITY FEATURES

- Garage parking - Lake

ADDITIONAL PHOTOS


Photo 1

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Photo 6
Contact info:
Nicholas Goglucci, PA.
Re/Max ParkCreek, Inc.
3027955
954-650-7800
For sale by agent/broker

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Posted: Feb 22, 2010, 10:34am PST
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South Creek Short Sale – Coconut Creek, Florida

Posted by Nicholas Goglucci | on Thursday, April 22nd, 2010 at 7:04 pm
Category: Coconut Creek.
Tags: ,
Nicholas Goglucci, PA. | Re/Max ParkCreek, Inc. | 954-650-7800
3910 NW 11TH STREET, Coconut Creek, FL
South Creek
3BR/2BA Single Family House
offered at $149,000
Year Built 1973
Sq Footage 1,383
Bedrooms 3
Bathrooms 2 full, 0 partial
Floors 1
Parking Unspecified
Lot Size 7,933 sqft
HOA/Maint $0 per month

DESCRIPTION

Short Sale Property. Great Home For First Time Buyers, take advantage of the $8000.00 rebate at closing. Large home on a canal, enclosed Florida Room not included in recorded square footage, two car garage. Home purchased in as is condition. Mortgage buyers need pre approval letter. Cash buyers need proof of funds letter. Seller addendums to follow accepted offer.
see additional photos below
PROPERTY FEATURES

- Central A/C - Central heat - Tile floor
- Family room - Dishwasher - Refrigerator
- Stove/Oven - Washer - Dryer
- Laundry area – garage - Yard


COMMUNITY FEATURES

- Garage parking - Lake

ADDITIONAL PHOTOS


Photo 1

Photo 2

Photo 3

Photo 4

Photo 5

Photo 6
Contact info:
Nicholas Goglucci, PA.
Re/Max ParkCreek, Inc.
3027955
954-650-7800
For sale by agent/broker

powered by postlets Equal Opportunity Housing
Posted: Feb 22, 2010, 11:01am PST
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Coral Pointe – Winston Park, Coconut Creek – Florida

Posted by Nicholas Goglucci | on Thursday, April 22nd, 2010 at 6:58 pm
Category: Coconut Creek.
Tags: , , , ,
Nicholas Goglucci, PA. | Re/Max ParkCreek, Inc. | 954-650-7800
4370 NW 55TH DR, Coconut Creek, FL
Coral Pointe – Winston Park
4BR/3BA Single Family House
offered at $239,500
Year Built 1991
Sq Footage 2,071
Bedrooms 4
Bathrooms 3 full, 0 partial
Floors 2
Parking Unspecified
Lot Size 3,106 sqft
HOA/Maint $75 per month

DESCRIPTION

NOT A SHORT SALE OR FORECLOSURE! TWO STORY FOUR BEDROOM / THREE BATH HOME. DOWNSTAIRS BEDROOM WITH FULL BATHROOM. THREE BEDROOMS UPSTAIRS TWO WITH ITS OWN BATHROOMS. TILED AND FRESHLY PAINTED INSIDE. COMMUNITY POOL ACROSS THE STREET!
see additional photos below
PROPERTY FEATURES

- Central A/C - Central heat - Walk-in closet
- Tile floor - Family room - Dining room
- Dishwasher - Refrigerator - Stove/Oven
- Washer - Dryer - Laundry area – inside


COMMUNITY FEATURES

- Swimming pool(s)

ADDITIONAL PHOTOS


Photo 1

Photo 2
Contact info:
Nicholas Goglucci, PA.
Re/Max ParkCreek, Inc.
3027955
954-650-7800
For sale by agent/broker

powered by postlets Equal Opportunity Housing
Posted: Mar 11, 2010, 11:30am PST