Foreclosure in Ocean City : Advice

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Joanne Berna…, Real Estate Pro in Linwood, NJ
Joanne Bernardini answered:
Who holds the mortgage on 104 Fourth St. in Ocean City?
Who holds the mortgage is far less important than how the mortgage will be paid off by the current owner. Are you a cash buyer? If you intend to offer the owner less than he owes on the ... more
0 votes Share Flag Tue Jul 26, 2011 Foreclosure in Ocean City
Joanne Berna…, Real Estate Pro in Linwood, NJ
Joanne Bernardini answered:
At what rate are REO properties coming on the market in OC? How much is overall supply growing?
REO's can be a good buy. Unfortunately, they are also more prone to the place being stripped of appliances, cabinets, vanities, toilets, copper piping. etc. There can be a lot of a ... more
0 votes Share Flag Fri Jun 24, 2011 Foreclosure in 08226
Greg, Home Buyer in 08244
Greg answered:
We bought a 3bedroom 2bath condo one block from the beach in OC in April for $520,000. Are we going to lose?
If you bought it for personal pleasure, just enjoy it. Great place!
If you bought it as a rental / investment, look at the math.
Math assuming you did 20% down:

$2341/mo Mo ... more
0 votes Share Flag Fri Dec 21, 2007 Foreclosure in Ocean City
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