--- In AsburyPark@yahoogroups.com, "radio881gal" <restore88...@...>
wrote:
>
> Hi, Jennifer -
> Thanks for the information. I imagine it's hard for someone buying
a
> unit in North Beach to get a mortgage since they instituted the
> process by which they only finish off a unit as it's sold.
That's been the case for quite a while. It's the Monterey that the
units are shells. Given some of the finishing they did on their own,
a buyer might be better off having some control over the finish
work/quality of materials going in. You want to spend $700k or more
and have cabinets with gouges that were patched over??
I think Amboy had some of the original loans out on N. Beach. If they
are still sitting on it, I'd go to them for a mortgage. They would be
motivated. They are actaully a pretty good bank to do business with
and don't mess around.
They were one of the early banks to have moved bad debt off their
books to another holding company - I think that's what the press
reported about three years ago . They made a bunch of large bets in
Monmouth county development.
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