I was featured on The House Bubble Blog with Attitude and received a flood of mostly angry comments. People are giving me a beating!
Yes I probably do deserve a beating. I made some bad moves as an investor and got over-extended. I also took advantage of liar loans.
However, some people are taking it a bit too far with obscenity and just pure HATE. I had to delete a few comments to keep this blog PG. I am all for honest feedback but lets be reasonable.
So I enabled comment moderation. And NO I am not trying to silence the critics. Anybody who has something helpful or honest (but not overly brutal) to say will receive my approval. As you can see from my blog I am not trying to hide anything.
Aside from the brutality, there has been a lot of good and constructive feedback. You can look through the different posts in the sidebar and check out the comments.
On the constructive side, I did receive some good advice from Osman, a real estate blogger in Colorado. Thank you.
It’s true I got into what some consider shady loans, also known as “liar loans”.
For more information, see this News Article on Liar Loans or just watch the Liar Loan video. (Now compare to this Wall Street Journal article on the Real Mortgage Fraud).
Yes, I lied on my loans, but shall continue to lie and hide??
No. I will be upfront about my activities. I’ll try to be careful to not blame anybody or anything and first figure out where I stepped over the line. Then I will talk about some of these things as I become more knowledgeable.
On this blog I will investigate the shady mortgage practices. I am NOT a Whistle-Blower. Needless controversy and criticism will NOT help anybody. I am only going to look at my own example.
Some future “honest” topics may include:
- The truth behind stated income loans aka “Liar Loans”
What some mortgage brokers will tell you to make a quick commission checkI would not blame mortgage brokers too much. Most are good people and are just selling the programs that the BANKS make available.- The truth about owner-occupied loans and the intent to occupy
- The truth behind cash-back at close
- Is buying, fixing and flipping houses wrong / illegal?
- Does “flipping houses” cause housing inflation?
- The consequences of not having a solid exit strategy or two.
- The effects of the “Get Rich Quick” mentality in housing
How the Real estate Gurus teach you just enough to be dangerousReal Estate Gurus in my opinion didn’t cause me to become over-extended - it was my own fault.- When and why should you file for bankruptcy?
- And more on my situation, selling houses quickly, foreclosure, short sales, subject-to, etc…
- Did I miss something?
Hopefully people will learn from my mistakes and be positively encouraged by the way I handle it.
The Truth Hurts… as they say.
46 Comments
September 21st, 2006 at 8:02 pm
* Subscribe to Google AdSense - this website has enough traffic to provide small income
* Please explain ablebuyer.com. How does that fit in this whole foreclosure thing?
September 21st, 2006 at 8:09 pm
Dude- your still a kid. Us old guys remember the lessons of Richard Nixon- always tell the truth.
When I was younger the truth and ethics were flexible commodities. And, to steal from Mr Twain, the Truth was so precious that I used it quite sparingly.
As I’ve grown older I have learned that, with the exception of web sites asking for your name and e-mail, always tell the truth. In painful detail. Once people have tagged yuo as a liar, your credibility is gone.
September 21st, 2006 at 8:11 pm
Start singing. Name names and provide details. Expose the corrupt system of realtors and mortgage brokers! This is the only way to correct the system!
September 21st, 2006 at 8:17 pm
You are not alone by any means.
http://www.websitetoolbox.com/.....id=1257755
September 21st, 2006 at 8:23 pm
Hi Casey
I just found your blog, which I must say tells a story which is going to be told over and over again. As Warren Buffett famously said, “when the tide goes out you can tell who is swimming naked.”
Actually you’re not an investor, you’re a speculator. An investor is looking for long term gains, primarily from income. A flipper is just another word for speculator, and there’s nothing wrong with that. I’m a professional speculator myself (although not in real estate). But it is important to know what business that you are in, so that you can properly assess the risks. I siggest you read “Fooled By Randomness” by Nissim Taleb, and reflect on your own situation.
Real estate is a poor vehicle for speculation. Transaction costs are high and liquidity (the ability to buy and sell quickly without moving the price) is terrible. Many fortunes have been made in real estate by long-term investors. But not by flipping.
Certainly in a powerful trend the fortunate who have liquidated on the way up may make a great deal of money. But many get in late or stay too late at the party and then find that the exit doors are too small for everyone who wants to leave to get out at the same time.
Your houses are worth less every day. You were fortunate in UT which is on the last gasp of the uptrend. But the houses elsewhere need to be sold. Now. You owe it to the lenders to minimize their losses by getting out now or giving them the keys. Trying to optimize your personal situation at their expense is immoral. If you are truly going to take responsibility for your actions, get out and take the bankruptcy. You can earn an income, apparently, and bankruptcy will give you the fresh start that you need. Go the the NACBA (National Association of Consumer Bankruptcy Attorneys) website, find an attorney and sit down with him or her to work out your most responsible path.
September 21st, 2006 at 8:52 pm
Hey, don’t let the haters get you down. It’s not you and it’s not what you did. It’s just the Internet. People would flame Mother Theresa if she blogged.
September 21st, 2006 at 9:00 pm
I believe the downturn could last 7 years and maybe more. Who knows. The Japanese downturn lasted 16 years and counting, and those guys have savings. What will happen in a country where no one has savings? I say just let the properties go and save your money, and go into another line of work. And don’t wait till tomorrow.
September 21st, 2006 at 9:18 pm
Casey,
We talked today. You may not want to admit publicly that you lied on your applications.
Someone could try to make an example out of you. There will be several people going to prison because of the housing bubble. I wouldn’t want you to be one of them.
September 21st, 2006 at 9:37 pm
Casey,
You are a genius. There is no way that you are both a Web Programmer and a Real Estate Investors (circa early 2006??? come on!). Truly a Roaring 2000s Bubble Man!!! Its just not true. Nobody could have such poor timing and lack of foresight (not to mention common sense). You are like many out there who realized this bubble was starting to pop and decided to do his part to help speed along what will be a boring, slow fizzle. Keep spreading the word good man. I am sure many “Casey’s” exist out there, but I think you went a little overboard with this character. Nobody is that stupid!
September 21st, 2006 at 10:05 pm
You got my respect with the upfront brutal honesty. Just keep it real and you’ll make out. HP is a pretty good blog, but Keith’s rants attract a lot of bitter losers who hate their life, so I wouldn’t worry too much about being flamed by them.
September 22nd, 2006 at 12:42 am
@Rob
Thanks for the advice. I applied for a Google AdSense account, perhaps that may be a way to make a buck or two while I’m writing about my situation. It’s not my main goal, but why not.
AbleBuyer.com is my real estate acquisition / investment company. Although at the moment I am not really buying anything until I get this whole mess taken care of.
My goal is to rebuild and refocus. Instead of going all over the country I am going to stick to my backyard - Sacramento. Spreading myself thin is one of the main reasons i am in trouble now.
Going forward I am going to focus on helping motivated sellers and people facing foreclosure. Now that I’m on the other side of it - I really feel for people in house trouble. I will be able to provide unique perspective having walked a mile in their shoes.
Initially instead of buying the property myself I will be looking to partner with other investors to help get people out of trouble. I will wholesale the properties to investors who in turn will do the repairs and retail to an end user.
September 22nd, 2006 at 2:16 am
dude- at the end of the day, at least you had the brass to step up and take a swing– don’t sweat the flames, most notables fell flat on their faces in the early going–you seem to be headed in the right direction now and once this thing is cleared up (eventually, though certainly), you will have had an experience most will never know anything about– and in any case, “the truth shall set you free”
September 22nd, 2006 at 4:44 am
this unfolding disaster. There is a new one out, written by a flipper himself. http://iamfacingforeclosure.com/ The blog speaks for itself, but here are a few choice entries: Admitting to mortage fraud on line (why would you do this?): The High Cost of Honesty. It’s true I got into some shady loans this year including…. 1) Calling investment properties OWNER OCCUPIED and 2) Stating a high income that I can’t prove But… Shall I continue to lie to cover up my old lies??
September 22nd, 2006 at 6:18 am
When this “correction” is over, you may find that you’re the de facto poster child for the crash.
Good luck to you, Casey.
September 22nd, 2006 at 7:54 am
I was wondering what the true “cost” of your newfound honesty has been? In some respects you are only making the balloon payment on defered dishonesty. In other respects you are much smarter than you were before. And look at all the free advice you’ve gotten. Sell the slightly positve props ASAP. Negotiate “short sales” with the note holders of the slightly negative a hope you can close enough to cut inventory down to where the ethical lapses on the rest can overlooked in light of the efforts I’ve just mentioned.
Oh and forget the AdSense and blogging, you are too busy applying your newfound honesty and sense of responsibility to have time that could be used negotiating an exit strategy and seeking qualifed renters and working contract web programming and prepping the properties for sale and such.
As to a “partner” ask what you are offering/bringing to the table. They are going to want something. I can’t think of any honest arrangement that would be attractive to a fellow honest ethical participant.
You’ll need some luck but experience indicates that you can make luck. You’ll still need a little more personal growth however. I see you’ve enabled comment moderation. That says you aren’t truly ready to face the entirety of the situation you’ve created for yourself and others.
September 22nd, 2006 at 8:19 am
I found you through the housing panic blog. One big questions I would like to have answered is how you got to this point? It appears it happened rather quickly (about 1 year), who got you started in flipping houses? Did you go to any seminars? Where did you get your loans and what was the process like? What was your financial situation like before you started flipping? When did you first realize you were in trouble? What kinds of loans do you have on your homes? Are you using option ARMS, do you have any of your loans negative amortizing?
I would like to hear the inside scoop about what you did and how you did it, and who helped you along the way.
Thanks!
September 22nd, 2006 at 8:30 am
Hey, this is just a learning experience, I am betting you will come back bigger than you even thought possible. I have faced financial abyss, for one thing, it does not really exist, only in your mind. If you have to, let the properties go, take a breather, rebuild your credit, it does not take long to do that anyway, and do better next time. Man you really should look at this like this, you just got a kick a** lesson on what not to do LOL!!! You can’t buy this kind of experience. You are so young, you have so much time to f-up many times over and still come out all right, let it roll off you. Seriously its not the end of the world. No one who ever amounted to anything did it first crack out of the box, study all the really sucessful people(Trump does not count on this, he is fulll of crap), they all went thru many swings and misses before the homerun came. Just keep swinging, when you quit, then you fail.
September 22nd, 2006 at 9:23 am
You’re going to stick to you backyward? Sacramento is one of the few place that is solidly going DOWN my friend. Worst place to invest in the country. Geez….
September 22nd, 2006 at 9:46 am
We could never build enough jails to house all the fraud jockeys who lied like you did. And please stop playing the Sinner Saul/Saint Paul card. Coming clean does not absolve us of our sins. Attonement requires remorse, pain and sacrifice. None of these are to be found in your writings (no, your remorse doesn’t count, it would not exist if your lies had not led to your demise).
Nor will we have the money to build said jails, when our economy goes kaput and we have to bail out the countless billions in defaulting loans. Once again, those who have been frugal, responsible and honest with their finances will foot the bill for the misadventures of criminals and conmen like you.
When all is said and done, though, I suspect you will be wishing for a set of jail walls to stand between you and the angry populace looking to burn you at the stake.
Good luck with that!
September 22nd, 2006 at 10:26 am
Listen, part of me admires you for taking your dose of medicine (flaming and all) like a man. But don’t let your newfound sense of honesty inflame people. Nothing you can say at this point will change the fact that you lied on your mortgage applications and that you’re about to lose Countrywide and your other lenders a felonious amount of money. It’s good to be realistic and honest, but don’t be a m******** and dig yourself into a deeper hole than you’re already in. You think facing foreclosure and BK is bad; it will be exponentially worse (and more expensive) if you find yourself embroiled in the court system (civil or criminal). Take it from me, as someone who has been party to many lawsuits over the years, it is about the worst way to spend what precious moments of life we’re given.
Personally, I think you deserve a second chance. Personally, I don’t think — in the whole scheme of criminal activity — that you will go to jail or deserve jail. But you’re the PERFECT poster child for the housing bubble, and politicians are already pouncing on this bubble-bust as a topic for midterm elections.
When some of the posters here threaten to email your blog to your lenders, state regulatory agencies, and the AG office, dude, they mean it. It’s been done. And although it may seem to be a punitive and petty thing to do in return for your honesty, to them it will be a small dose of justice in a real estate market that has caused a lot of people a lot of genuine pain and anxiety.
Take down your blog before you do any more damage.
And good luck to you in the future. The silver lining in your cloud is that it takes most people decades to learn as much as you’ve learned in one year.
September 22nd, 2006 at 10:30 am
mortgage fraud is a crime … you just admitted to lying on loan applications … you could go to jail. The FBI is really starting to investigate and crack down on this.
suggest you get a lawyer, you might be spared if you are able to peg the bigger fish (the lenders/brokers) who may be proven to be just as culpable.
September 22nd, 2006 at 10:33 am
agreed w/the other posts … although this is very financially and emotionally painful for you, use this experience as a lesson on not what to do in the future. suggest you read alot of books dealing with speculation and managing investment risk.
you are young, and still have your whole life ahead of you to rebuild.
September 22nd, 2006 at 12:23 pm
Best wish! Hope blogging can get you out of this mess.
September 22nd, 2006 at 2:06 pm
Kid,
I’m going to go with the smart guys here.
You are in deep deep trouble. Really fantastic trouble.
I’d suggest you forget trying to sell the underwater properties. Just turn those back over to the bank now.
I’d also suggest you draw your credit lines out now,
get some cash in hand, you will need it.
Read a book on bankruptcy, the law just got changed,
so my knowledge is poor.
Try to do a forced sale on the above water properties,
then declare bankruptcy.
While you are eligible for bank fraud, they probably won’t
press too hard, because, frankly there are so many
people in your situation, it’s going to be hard to fight them
all.
You need to get a job to get some cash flow going,
you need to talk to all your lenders about offers in compromise, you need to get in front of all this.
as for the IRS, they can’t get blood from a turnip,
they will settle too.
but, expect to lose a lot and big. Pray to God you
don’t go to jail.
September 22nd, 2006 at 4:11 pm
You could always post some of those signs by the highway that say “make $12,000 an month as a real estate apprentice” just to see if there’s a bigger idiot you could pawn this off onto.
September 22nd, 2006 at 4:34 pm
I have to assume you have not had notice of default filed on any of the properties you listed here (don’t see you listed on foreclosure.com). this despite being behind multiple months on the payment. why the delay on their part? hoping a short sale will go thru?
September 22nd, 2006 at 5:32 pm
I’m with Manfred on this! Take down this blog site. People are upset about this entire mess (housing bubble situation). And when people get upset, things get ugly.
Take down the blog.
September 22nd, 2006 at 6:14 pm
You should sell your house’s on myebid it worked for this guy
http://www.myebid.com/cgi-bin/.....ingID=2113
September 22nd, 2006 at 6:16 pm
WOW!
September 22nd, 2006 at 7:24 pm
It’s hard to believe that this website is real. Could you provide some proof that this is not some kind of hoax? MLS listings or official records
September 22nd, 2006 at 9:00 pm
I’m still not sure this is a real situation. You seem to have obtained a lot of very recent wisdom in your bullet points about how corrupt the system really is, and how it violates a decent social settlement. However, you are not describing yourself as an ‘ex-’real estate investor, or a failed RE investor, or a soi-disant RE investor, I note. Does that mean that after this blip when you get out of jail, you are going to go back to mastering the art of the successful flip? Although the bullet points suggest you now realise how difficult it is to make money in RE in a turning market with no construction expertise or contractor networks, high transaction costs, the lies of the ‘RE gurus’ who run seminars but never actually trade themselves, etc etc. If your story is true, you may well still be typing thoughts on those many topics from a jail cell — maybe you can counter-sue the RE gurus when you tried to follow their advice? Although they have a lot of disclaimers in their course contracts. Lawyers in the US are incredibly expensive, also…
September 22nd, 2006 at 9:05 pm
Actually, you may be less likely to go to jail as you could instead be freed to work off your debt for the rest of your life living in a bedsit with broken furniture or in a spare room at your parent’s place as the state garnishees a huge % of your wages to pay back debt to the poor destitute, wronged banks… That would be a more object lesson… But the mortgage brokers and RE gurus are just as much to blame for this…
September 22nd, 2006 at 11:35 pm
I just sold my portfolio of about 75 rental properties in the Dallas area. But I did my real estate investing the “hard way”, buying properties under market value and holding over a 17 year period; paying 20% (or more) down with every mortgage; and NEVER EVER assuming that prices would skyrocket.
I am the tortoise to today’s hare-brained new breed of real estate flippers. But now I’m retired at 44 with 2.4 mil in the bank and no debt. I’m not stating this to gloat, but just to serve as an illustration that slow and steady STILL wins the race (at least the majority of the time).
Casey, I admire your willingness to show the unglamourous–and much more likely–side of real estate investing. And despite what others may tell you, DON’T file bankruptcy if you can possibly help it. Do your best to right your previous wrongs by continuing to sell your properties. But don’t expect to profit from ANY of them at this point. Frankly, you just don’t deserve to profit from having lied.
In fact, I recommend you change your asking prices to reflect ONLY what you have into the properties, PERIOD.
And, if you’re ever going to buy real estate again, don’t buy it based on what MAY happen. Buy based on what the market is NOW.
September 23rd, 2006 at 12:51 pm
Bwhahahahaha!!!!!
What a dope. You are toast. You’ll probably lose all the property along with your credit. Consider yourself lucky if the law doesn’t come after you.
Now, having told ya what you already know, don’t do it again. Next time around, pay attention and don’t get sucked in by all the hype. You’ll be fine. It’s gonna be ugly, and you’ll probably have some company, but don’t let it deter you from pursuing a dream. Read the history of many of America’s successful men and women. Few made it the first jump out of the chute. But you can be sure that they didn’t make the same stupid mistakes twice.
September 24th, 2006 at 8:37 am
Met you at the Real Estate Roundtable a year ago. You sat in the rear. I was at the long table to your right. I was the one that was questioning the realtors and mortgage bankers in the room over all this mess before it hit the fan. They were all telling me I didn’t know what I was talking about. I’d like to get them all in that same room now and see what song they’d sing when they set eyes on me again. Too little to late though. Now look at us. I too have properties in the dumper. I called you a while back. You called back. This is my return call. Hey, just how many of us are out there? Seems like you’re just the tip of the iceberg. Is there any data on how many of us are hanging on the brink? I fear it’s huge. Please don’t post my phone.
September 29th, 2006 at 7:40 pm
housing prices and need to blame somebody!. Feeding on Controversy Seeing all the negative comments and people I realized that my blog is pretty controversial. So I decided to continue with my “honesty” . I started leaning toward more controversial topics and then went over the top talking about Jail and Mortgage Fraud. Bubble Blogs LOVED IT! I liked the extra traffic too. The PROBLEM is that I started getting away from my original mission: getting out of foreclosure and writing about it to help
October 31st, 2006 at 5:49 am
Casey,
I keep thinking to myself that in spite of the dire circumstances you find yourself in you are nevertheless honest about the situation. You seem to have developed a very important characteristic that few people possess and that is honest self evaluation. Secondly, you also seem to have developed a philosophical approach to the situation in which most people will not attain. I would bet that you eventually become successful in this game of real estate and might have done so had you not overextended yourself. Most of us would not have had the guts to do what you did. You will succeed if you keep being honest about your situation and persist.
Don’t Quit
When things go wrong, as they sometimes will,
When the road you’re trudging seems all up hill,
When the funds are low and the debts are high,
And you want to smile, but you have to sigh,
When care is pressing you down a bit,
Rest, you must - but don’t you quit
Life is q**** with its twists and turns,
As everyone of us sometimes learns,
And many a failure turns about
When he might have won had he stuck it out;
Don’t give up, though the pace seems slow -
You might succeed with another blow.
Often the goal is nearer than
It seems to a faint and faltering man,
Often the struggler has given up
When he might have captured the victor’s cup.
And he learned too late, when the night slipped down,
How close he was to the golden crown.
Success is failure turned inside out -
The silver tint of the clouds of doubt -
And you never can tell how close you are,
It may be near when it seems afar;
So stick to the fight when you’re hardest hit -
It’s when things seem worst that you mustn’t quit.
November 10th, 2006 at 11:27 am
[…] Mortgage Blog News - I happened across this blog today: "I am Facing Foreclosure". I suppose it is possible that this blog is a farce, but I did find some interesting highlights of pure greed and fraud. […]
November 30th, 2006 at 12:43 pm
Hey Casey,
Dude, I saw your story on CNBC. I had to comment on this becasise this just pisses me off to see people like you get scammed on. I work for a stock market data provider her in the Bay Area. So I’m exposed everyday to the economy and the markets. I’m drenched in it all day. I’m also a Real Estate Agent. It helps to be able to watch the market and monitor the economy and to be an agent at the sametime.
I have to tell this…..there is never, ever, ever, ever, such thing as a get rich quick plan. You want to be successful, learn the business. That goes for everything. Weather you want to be a stripper or a CEO, you need to know how, you need to learn. You can learn it in school or you can learn it from a professional, some one who is well seasoned in the business. If that’s going to your focus in life you have to invest some time in learning it. I admit though that you can’t learn everything out of a book and sometimes you just have to jump in and learn it hands on.
As Real Estate Agents, we don’t have to just past the test to get our license, we also have to go through continuing education classes in order to maintain our ability to paractice real estate. We also have to go through ethics training and learn Real Estate law. It’s a lot of time to invest, but the pay off in the end is huge!
Just like people who trade stocks, they educate and do their homework before investing, in order to make an educated decision, at least the smart ones do. With any investment comes risk. You have to be conservative with your finances, especially if you don’t have that much money. People with millions can afford to take a hit here and there, but regular folks, when they take hit, it can takes years to recover. On top of that, you credit score take a bigger hit and we all now what happens when you have a low credit score.
Lot’s of money has been made in Real Estate, there’s no doubt about that. You can’t go wrong, but also timing plays a part. This is where research becomes key.
So….you want to know the secret? You want to know what it takes to be successful in Real Estate investing? Take control of it yourself and become an agent. Take the test, get your license, get educated. Once you do, you will have access to the tools that helps agents succeed. You can do your investing and at the same time, help other individuals who want to buy thier own homes. On either end you make money for yourself. Only this time your more educated to know what to do and when to do.
I’m sure people have told you, how could you, your stupid and all that, but you were just doing what you were taught to do. Just move forward and work with what’s there and deal with it. I believe you have to fail before you succeed. So you learned it the hard way.
Take Care and good Luck to you.
January 31st, 2007 at 12:03 pm
well…seems that there are people out there making a ridicule out of you now, (its really a harsh world out there) i cant comment or advice you as in not in your shoes or situation to do so.but i believe theres always a new day to start a new chapter.good for you if you admitted from your mistakes and learnt from it.honesty is always the best policy.stay positively always.and try your best to undo the mess asap.
February 7th, 2007 at 10:35 am
Casey wrote that “Some future “honest” topics may include:
The truth about owner-occupied loans and the intent to occupy
The truth behind cash-back at close
Is buying, fixing and flipping houses wrong / illegal?
Does “flipping houses” cause housing inflation?
The effects of the “Get Rich Quick” mentality in housing
Can you please cover some of these topics?
February 26th, 2007 at 2:03 am
Kids… why are they honest to us when we don’t want them to be?!
March 14th, 2007 at 10:16 pm
A little bit of soap
Will wash away your lipstick on my face
But a little bit of soap
Will never, never, never ever erase
The pain in my heart and my eyes
As I go through the lonely years
A little bit of soap
Will never wash away my tears
Mmm, a little bit of soap
Will wash away your powder from my chin
A little bit of soap
Will never, never, never ever begin
To take away the hurt that I feel
As I go through the lonely years
A little bit of soap
Will never wash away my tears, mmm, mmm, mmm
Have you heard when love begins to die
It leaves someone to cry night and Day
Like a bird, you left your robin’s nest
And-a just like all the rest you flew away
Mmm, a little bit of soap
Will take away your perfume eventually
But a little bit of soap
Will never wash away the memory
Of your name in the night
That I call through the lonely years
A little bit of soap
Will never wash away my tears
I’ll never lose the memory of your name in the night
That I call through the lonely years
A little bit of soap will never wash away my tears
Mmm, a little bit of soap-a
Will never wash away my tears
Mmm, it’s gonna never, never, never
Uh-huh, wash away my tears
April 14th, 2007 at 12:21 am
“DRE CLARIFIES MORTGAGE BROKER’S DUTY TO EXPLAIN LOAN TERMS
The Department of Real Estate (DRE) clarified yesterday that it is a mortgage broker, not real estate broker, who is obligated to discuss loan terms with his or her clients. This clarification comes by way of revisions to an article about payment option adjustable rate mortgages (ARMs) featured in the DRE’s Real Estate Bulletin of Spring 2007. The name of the article is Understanding Loan Terms is Essential to Borrowers.”
The greedy mortgage brokers have caused these types of problems all over the place and we have to come in as Realtors and clean up the mess. The bottom line is you committed fraud along with these mortgage brokers. I wouldn’t be suprised if someone prosecutes you now that you exposed yourself to the liability and criminal prosecution. Poor decisions lead to poor results. Wake up man!
April 20th, 2007 at 12:26 pm
Casey,
To everyone out there in this same situation the main thing to remember is that this problem will not just magically go away. Most people facing foreclosure are dilusional and they think that if they dont talk to the bank that it will go away. It will not happen you need to work with either a lender who works with foreclosure bail-outs or a private investor. Call my company for some options.
888.893.6622
Travis Wilson