--- In AsburyPark@yahoogroups.com, "oakdorf" <[EMAIL PROTECTED]> wrote:
>
> Year to date, I only see about 14 transfers CURRENTLY where the bank
is the owner of the property in AP. That's current, not whtat
transpired.
That may be true, but according to Monmouth county lis pendens (notices
of foreclosure) records, 68 properties have been put into foreclosure.
It takes awhile from foreclosure to bank ownership and a lot can happen
in between (deed-in-lieu, short sales, loan modification or just plain
sale). 68 may not seem like a LOT, but do consider the size of AP. I
believe it is only 1.25 square miles. We're averaging more than 5
foreclosures per month. That's a lot for such a small area and it's
unfortunately just the beginning of the crisis. A small city hurts
worse in a crisis than a larger one. I'm not sure how many blocks are
in AP, but there are fewer than 68 streets. I see homes everywhere - 5
blocks from the ocean on Deal Lake drive to Prospect Ave on the
southwest side of the city. It's a mess with emotional complications
and larger tremors for the rest of the community.
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