Dallas Lender Received Deed in Lieu of Foreclosure

Spoke with the hard money lender ( Equable / DHLC ) for the Dallas House. They recieved the deed in lieu of foreclosure that I sent on Friday. The guy said that as long as there are no other liens on the property when he goes to record it our deal is still solid - he will not report anything on mine and my wife’s credit.

He is still going to foreclose and let the property go up for auction tomorrow. That’s because the lender wants to sell the property one way or another. Letting it go to the Trustee Sale might get the property sold and the lender is happy at that point. I will be happy too, knowing that the lender got paid in full.

I forgot to ask about what happens to property taxes… I haven’t paid any. Who will pay it?

Filed under deals, foreclosure, Dallas
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76 Comments

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1. Jeff
November 6th, 2006 at 7:38 pm

I forgot to ask about what happens to property taxes… I haven’t paid any. Who will pay it?

Dude, come on! You can’t tell me that you got into real estate “investing” without hiring a CPA and an attorney. You did, didn’t you? They’re paid to help you with these things, you know.
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2. william howard taft
November 6th, 2006 at 7:45 pm

I’m going to make a wild guess here and say “You will be liable for the taxes”.

I really really hope you get out of the mess you got yourself into here…

But just a suggestion: Instead of “following the money trail blindly” in choosing a job/career, Why not find something you Really LIKE to do, so you don’t dread going to work ?

Now, I’m not going to say that people DON’T make money from Real Estate. There are people who make Millions or Billions in every type of job there is.

They just do what they do, in some unique way, and find a way to sell that for a profit.

Just like the neighborhood kid flips burgers for minimum wage, the local restaraunt owner scrapes by….Yet Dave Thomas made Millions. How ? He saw a Need for Really Good Old Fashioned Hamburgers not lamp heated patties like other fast food chains.

See there ? Found a niche market, Made Serious Money.

No talk of Making Millions, just got to work and did the deed and success followed.

Just a suggestion:

You have your 15 minutes of fame.

Find a way to make it work; collaborate on a book, make some appearances, set up workshops on what to look for in mistakes that you made and how to avoid.

Just my $0.02.

William Howard Taft
Editor, www.popularparanoia.com
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3. yougottabekiddingme
November 6th, 2006 at 7:54 pm

Fpreclosure is a public record - the lender doesn’t have to report it for it to be on your credit reports.

And how is your “deal still solid” - the DIL is out and the foreclosure is going through?

You get dumber by the day!
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4. digerati
November 6th, 2006 at 8:01 pm

Are there any capital gains taxes or anything you have to worry about?
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5. TProphet
November 6th, 2006 at 8:29 pm

It depends whether or not you have an escrow account. If you did (and most mortgages do), taxes and insurance are paid out of this account. Part of the settlement when you close a real estate transaction includes the estimated amounts due for taxes and insurance. This is deposited into your escrow account, and property taxes and insurance are paid from it.

Your mortgage payment (most of us actually *make* our mortgage payments) includes an amount that is deposited into the escrow account.

Since you’re behind on your mortgage payments, it’s possible (perhaps likely) that you didn’t have enough money in your escrow account to pay your homeowners insurance and property taxes. The lender will have paid taxes and insurance in the meantime, though, in order to protect their interest in the property and prevent a tax foreclosure. Whether the shortfall is billed to you hinges on the deal you negotiated with your lender. However, when you’re dealing with a bank, it’s generally safe to assume that you’re going to be the one paying.

In any event, this is small potatoes; you have a lot more to worry about than this right now. I don’t know whether it’s sunk in yet, but you’re at more risk than bankruptcy right now. You could actually go to JAIL for this (and your blog, incidentally, is all the evidence that would be needed to obtain a conviction). Good luck - you’re going to need it!
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6. blogger
November 6th, 2006 at 8:32 pm

you will have to pay i believe, and also in foreclosure what ever they sell it for, example $200,000. If you paid more, which you probably did…example $300,000. then you will have to pay taxes on $100,000, which because it is taxes cannot be expunged in cases of bankruptcy…..sorry to kick you when you are down…
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7. Vague Guru
November 6th, 2006 at 8:46 pm

Casey, a colleague of mine recently mentioned your plight and sent me the link to your blog. Thank God he did, because I am willing to help you get out of your mess.

My name is Vague Guru and I run a series of nationwide seminars called “Smart Son, Dumb Son” (Not affiliated with the movie “Dumb and Dumber”).

If you agree to be mentored by me, I guaranty that you will be free of your current economic woes, and will be on the road to financial freedom. This is my personal “No Money Back” guaranty.

Normally this course costs $25,000, but because I want to help your out of your dire situation, I am willing to mentor you for the discounted price of $10,000 (in small unmarked bills). That’s over 50% off the regular price. However, you must act soon, space is limited. This is a limited time offer.

To show you the power of the “Smart Son, Dumb Son” seminar I will now give you Wisdom Nugget #25, a $250 value, yours to keep for free whether or not you sign up for the program:

Wisdom Nugget #25:

“Do Not Think!”
“Do!, Not Think”

I look forward to helping you, God Bless.
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8. edward allen
November 6th, 2006 at 9:15 pm

xxxproperty go to auctionxxx

Check the value of that Texas house in Zillow, and you will find it increased in value $10,668 last week. Looks to me you have just walked away one of the few properties you hold that is increasing in value. The others are declining.

xxxwho will pay?xxxx

Look in that unopened pile mail you have on the floor, and you will probably find a property tax bill. Texas sends them out Oct. 1. You have until Jan. 31 to pay. Penalty and interest charges begin accumulating Feb. 2. Don’t screw with the taxman. They have powers that banks don’t have for squeezing money out of you.
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9. i can't look away
November 6th, 2006 at 9:25 pm

Did you get some legal help on this?

Or are you just trusting the lender not to report the late payments, and deed in lieu? What recourse do you have if they do?

If you haven’t paid taxes, then you might have a tax lien, which could kill the deal.

What happens if the auction goes for more than the outstanding balance on the loan? Does the surplus go to you (like it does in foreclosure sales)? Are you sure they can’t come after you for the deficiency?

p.s. You need to update the status of the TX property on the right. Two down, four to go. This is taking for ever.
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10. briguy
November 6th, 2006 at 9:29 pm

heh. He verbally agreed to keep from reporting it? heh. How naive. You are so screwed.
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11. Jill
November 6th, 2006 at 9:31 pm

you will. bwahahaha!!
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12. Rich Dad's Son
November 6th, 2006 at 9:36 pm

Looks like one more down, only four left to go! Keep it up!

I read the comments on this blog once in a while for laugh, it’s really amazing how clueless most of the posters are here. Many of the people posting comments know Casey from his blog but they don’t really know him, not like I do. I’ve known Casey for 10 years now, I’ve been there to see him at his best and his worst. Casey is not the horrible person he is often made out to be. Don’t get me wrong, I think it is fair to be critical of him based on some of his past actions, but some of the hyperbole is misplaced, there are far worse people on this planet who deserve your scorn. Really, if anything he deserves our pity.

I’ve known Casey long enough to know that he often makes rash decisions that he later regrets. There is a very logical explanation behind his decision making process that has treated him well in some areas and not so well in others. I’m sure any astute reader will pick up that very simple reason very quickly by reading just a couple of his posts. I would just come right out and say it here and now but I’d rather not, besides Casey is familiar with my theory as to why he does what he does but he is unwilling and quite possibly unable to make the fundamental changes necessary to stop the cycle of self sabotage he’s currently in.

I’ll leave you with a quote from the musician and philosopher “MF Doom”:

-Only in America could someone learn to make
a healthy buck, yet still keep their attitude on
self destruct.
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13. Legion
November 6th, 2006 at 9:41 pm

15 minutes of fame coming to a close….

http://www.alexa.com/data/deta.....losure.com

Peaked Nov. 1st, been declining since…you are gettting boring Casey.
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14. Sprezzatura
November 6th, 2006 at 9:43 pm

Has there been enough lapsed time on the taxes for TX to put a tax lien on the house?
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15. Cranny
November 6th, 2006 at 9:48 pm

A Property Tax is typically levied on the property itself and must be paid by whoever owns it at the time. Since property taxes are only paid once a year, and I can’t speak for Texas, but here in Arizona you actually pay half of the taxes by the end of November and the other half by the end of April, if the property taxes for the prior year were paid and the new ones weren’t due yet then either the lender or whoever actually buys it at auction will pay them when they become due. In other words it depends on the “billing cycle” of property taxes in Texas, if you get lucky, which you probably won’t since you seem to have bad luck…then you may not even have to pay any at all. Alternatively, if you lost the house at a certain time of the year when part (or all) of the taxes were due you may have to pay a portion of them. I wouldn’t even worry about if I were you…it’s not your house anymore, it’s the lenders and they are responsible for paying them. The county assessor (who collects the property taxes) typically do not report unpaid taxes to credit bureaus….they simply put a tax lien on the property if you do not pay and after a certain time frame (usually years and years) they go ahead and take possession of the property!

P.S.
You should make your countrymen proud and stop acting like a capitalist pig! Greedily chasing $ around like a cigar-smoking, fat cat wanna-be wealthy industrialist, when you could be proudly taking part in the communist harvest and promoting the interests of the worker! What would Marx say?

But seriously though, I am afraid people will think all of us americans are like you: greedy, ignorant, and wanna-be media w***** !
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16. Merced Going Quickly
November 6th, 2006 at 9:49 pm

Where did everybody go?
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17. Merced Going Quickly
November 6th, 2006 at 9:50 pm

My bad. I thought this was the post from this morning.
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18. T.White
November 6th, 2006 at 10:48 pm

Rich dad’s son:

“I would just come right out and say it here and now but I’d rather not, besides Casey is familiar with my theory as to why he does what he does but he is unwilling and quite possibly unable…”

Ahh…possibly unable… mis(s)trial???
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19. Rod
November 6th, 2006 at 11:48 pm

Casey, I am now feeling sorry for you, too. Just declare bankruptcy…or get some good advice from an attorney or someone you trust and get on with it…you’re too young to waste all this energy scamming to get out of this.

It’s not the end of the world..yet, but if you keep this up…it might come to that for you….

I think you need some psychological help, too…to see why you keep doing what you are doing…but that’s another story…

Good luck to you….
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20. The Ghost of Elvis's Attorney
November 6th, 2006 at 11:51 pm

Casey,
Let me take a look at the contract you signed with the ladies in Arizona. By all means you can remove any proprietary information concerning how they will document and sell your story. I bet I can find a way to get you out of that contract, if they are determined to hold you to something that you signed in this condition and under this pressure.

Though I certainly do not condone ANYTHING you have done, I find the thought of people trying to exploit you for anything at this point, pisses me off far more than any of your actions.

You have my email, and there is no fee to give you my advise.
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21. 6-4-3
November 6th, 2006 at 11:55 pm

I have a friend who works in the mortgage industry. According to her, Casey’s little shenanigans make morning coffee breaks so much more fun. Its not that Casey is trying to game the system in creative or unique ways: its that he’s tried repeatedly with PROVEN scams and still finds new ways to fail.

Mortgage fraud is so rampant because thousands of people have found ways to successfully exploit the lending apparatus doing the same thing for YEARS. Despite spending thousands of dollars on “how-to-scam” books and seminars, our little buddy still has managed to screw it up on a grand scale.

And that, ladies and gentlemen, takes a special kind of stupid.
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22. yneone
November 7th, 2006 at 12:14 am

While you sit in judgement of Casey, he maybe smarter than us all. He may not be a RE Guru like some of us, but he’s turned this little blog of his into a newsmaking, possible movie making, book deal coming, future money making machine. I don’t think Casey is dumb…he gives us just enough (here) to keep coming back. I’ve read the posts and i’ve been following for a few weeks now. Some of you are addicted and don’t even know it! Go ahead Casey…laugh hard, then harder still. You’re not half as naive as some of these people think you are. I’m pulling for you.

P.S.-Someone made mention of a decline in the number of visits to your website. I’d say you’re doing pretty well for a relatively unknown…Some people just don’t get it! HAHAHA
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23. Sputnik the Cat
November 7th, 2006 at 4:53 am

I now offer you - free of charge - the Sputnik_the_Cat GET OUT OF DEBT NOW PLAN.

[copyright 2006 Sputnik_the_Cat]

1. Get a real job now.
2. Sell all your houses as fast as possible.
3. Rent out the properties in the meantime.
4. Stop being such an indecisive p**** .
5. Pray.

I have to go lick my butt now…

- S.T.C.
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24. Fred Fry
November 7th, 2006 at 6:43 am

I think you wasted the postage on the DIL. So please explain what is different than if you just sat back and let the property be forclosed on?

Not for anything, but I think you ran from the rat race into something much, much worse.

Get rid of the rest of your properties and then turn your back on real estate!
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25. Merced Going Quickly
November 7th, 2006 at 6:44 am

This all seems weird. I agree with a previous post that a this website has turned into a quest for a book or TV deal. If you can do it, more power to you.

It’s hard to believe that you do not know about these taxes. See, that’s the weird part. You throw these little bits of drama in these seemingly straight forward post. If you changed the purpose of the blog, be upfront about it.
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26. Robert Coté
November 7th, 2006 at 6:51 am

Another Casey signature, another major Casey mistake. You just gave the lender potentially ten of thousands of dollars and your only leverage. Of course the lender is going to follow through with foreclosure. With your DIL in hand it becomes a free spin at the money wheel with any payout to them and any costs to you. -If- you had kept the deed the auction would have paid the note and liens with the rest to you, the former deed holder. Now any money all goes to the lender. If the auction yields less the lender sends you the bill. If there’s a greater fool out there bidding the property beyond the outstanding balance the lender is happy. If the bids come in too low the lender will ignoreyour DIL submission. Remember it isn’t recorded yet and there’s nothing you can do about it.

My only regret is all the people that guessed your all too obvious next twist and spoiled the story line about an impending family. Now you’ll have to have some other personal crisis. Grandma needs a new kidney? Stress attack with emergency room visit? You’ve already used up car crash. Hmmm, feigned vandalism might work. You can blame the haters and whip up a great looking police report to show the world.

As always copyright, not advice (with a ‘c’) nor advise with an ’s’, yadda, yadda. But now some actual financial advice; Anyone who thinks a “lien” is a “lean” shouldn’t be allowed to do real estate.
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27. KruziTürkn
November 7th, 2006 at 7:26 am

Casey is the Borat of Uzbekistan. Dimwit! Fool! Bore!
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28. Kevin
November 7th, 2006 at 8:01 am

Dude - a DIL is supposed to AVOID a foreclosure. Your hard money lenders are taking advantage of your ignorance. You screwed up again.
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29. ymous
November 7th, 2006 at 8:27 am

You’re going to feel a deep sense of relief once your name is off the deed for this house. Hopefully, you’ll want to re-create this feeling by getting rid of the other houses in a decisive manner.
By the way, your description of RK’s offices as modest and smaller than you expected was no surprise. These types of operations are phony fronts which are designed to support the emotional and forceful sales pitches of their “in-house gurus.” It doesn’t take a lot of infrastructure to collect credit card orders (i.e. don’t think of them as real estate management offices).
By the way, I have to admit that this blog is damned interesting. I waste quite a bit of time on it each day. How is your Google ad income coming along?
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30. Blah
November 7th, 2006 at 8:32 am

Unreal.

You mean with the thousands of dollars of RE seminars that you attended, where they showed how easy all this was, that they never EVER went over things like taxes?

You are responsible for taxes on the property that were accrued during the time that you owned the property. Typically as part of the closing process you need to prepay a huge chunk of that, if not all of the first years taxes, but since you were so far behind in your mortgage payments, I highly doubt you will see anything that was in excess in your escrow account.

I will say this though, this post brought out more of your supporters. I had noticed over the last few posts that all of your internet support was drying up, and all the people that actually lived in reality(you affectionately call us “haters”) were the only ones showing up to rain on your pity parade.
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31. merc.
November 7th, 2006 at 9:45 am

It is my first time speaking up in this web site. I kept up with this conversation for a while, but now I think I need to interject and state my opinion. I want to address all of the so called “psychologists” who are attacking this young man. You are not willing and you are not able to place yourself in his shoes. Million people against one! Where is your empathetic understanding? “Psychologist”, “Smart” (or how should I refer to you) who from you did not stumble in life and did not make mistakes? I am in no doubt that all of you “perfect people” out there have made mistakes in your lives, maybe even to a worse extent then Casey. If so, then what come out of this are the fact that you are dumber then this young man. Where is your reasoning? Where is your compassion? Hey, you “the educated” are it proper to strike someone who is already down? I don’t think so! You call him “stupid” and “dumb”, “idiot”……., but if he was all the things you have named him, then he would not be able to come up with such an excellent web site and much more great stuff. Oh, by the way, dumb people are not able to speak two languages; their mind is incapable of being multilingual. I am amazed at his optimism and his drive; in fact, I solute him for all of his accomplishments. I am positive that he will overcome his hardships and climb out of the whole he is currently in. He will become better and stronger from this! Think….
So, I will play for him. God will not leave him.
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32. Kevin L
November 7th, 2006 at 10:17 am

If there is any chance at all that this house sells for more at the foreclosure sale then you owed on the loan, then the lender now gets to keep the difference as well since you just signed over the house to him via a deed before the auction.

How can a lender foreclose on a property whcih they own? Nothing makes sense with that whol DIL of situation, and you don’t seem to be learning one single thing.

I’m really getting tired with the no-growth, no-progress, series of events on this site. No one is going to learn from anything you have done if you won’t even learn from your mistakes yourself.

You are a trainwreck, but you derailed weeks ago and there is nothing interesting going on anymore.
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33. Legion
November 7th, 2006 at 10:44 am

yneone
November 7th, 2006 at 12:14 am While you sit in judgement of Casey, he maybe smarter than us all. He may not be a RE Guru like some of us, but he’s turned this little blog of his into a newsmaking, possible movie making, book deal coming, future money making machine. I don’t think Casey is dumb…he gives us just enough (here) to keep coming back. I’ve read the posts and i’ve been following for a few weeks now. Some of you are addicted and don’t even know it! Go ahead Casey…laugh hard, then harder still. You’re not half as naive as some of these people think you are. I’m pulling for you.

P.S.-Someone made mention of a decline in the number of visits to your website. I’d say you’re doing pretty well for a relatively unknown…Some people just don’t get it! HAHAHA

You must have bought Kato’s book and watched his movie…ohh that’s right, never mind. Surely you bought OJ’s book and watched his movie…ummm yeah k.

First off, the reason that he even has people coming to this site..is because it’s free, once he starts charging for that priviledge..forget it…
Believe me when I tell you that if anyone is going to try to make any money off of Casey, they will be watching his blog stats too. Once they see that it is on the decline…you can forget about any DEALS that he could make. You call him “unknown” yet I’ve seen you cheer how he is in the national news and media..including USA today, and that unfortunately was his peak..I visit other blogs on real estate and that is how I found Casey in the first place..and I’m telling you he is slowly going off the radar.

So laugh clown laugh……I’m sitting here with a steady job, money in the bank, unknown, no mortgage to worry about, a paid for 2 year old car…and you are right yneone, I am misreable! Oh how I wish I could trade places with you or Casey…

I CASEY you and your life! lol
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34. Legion
November 7th, 2006 at 10:48 am

Hi Unreal,

Stick around, I think this is slowly winding down, kind of like turning off a movie before the credits…it certainly isn’t building momentum. I think he blew his load on the RK visit, and when we found out what a moron Casey was, well…it’s over…game over Casey. I don’t believe half the crap he blogs anymore anyways…they are all fantasies of a peon with delusions of grandeur..

As I surmised,here comes the defense strategy of “diminished capacity.”

That line was a screen wiper..I’m going to have to use that line! LOL!

Yeah, Rich Dad’s son is definitely an enabler…I think him and his Dad keep Casey around for kicks, why else would they let his dumbass get so screwed up in a field that they are “experts” in. With friends like that, geez, who needs enemies.
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35. kpom
November 7th, 2006 at 10:52 am

Yeah - this blog used to be interesting, but it has become the Internet version of a circus freak-show, with Casey doing the financial equivalent of biting heads off of chickens.

We are all probably enabling him - I’d say that the sooner he realizes that having a moderately-read blog is not going to lead to a river of money flowing into his pocket, the better - but he seems so delusional at this point that nothing would help.

P.S. The key to a book or movie deal is a happy ending - Casey doesn’t seem to be making much progress in that direction.
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36. Voice of Reason
November 7th, 2006 at 11:03 am

Your hyperlink for Equable is wrong - forgot the 1st E.

Though why in the world you’re publicizing someone who’s foreclosing on you instead of accepting a DIL as they had agreed is absolutely beyond me!

(Though in the their defense, you did waste an entire week getting the paper to them, so they probably thought you didn’t want the DIL after all).
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37. Voice of Reason
November 7th, 2006 at 11:16 am

Incredibly naive. The HML won’t need to report the foreclosure - lots of other agencies will do that, he knows there’s no need for him to do that.
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38. SerinGas
November 7th, 2006 at 11:26 am

okay, i too now feel bad. i retract any negative comments i may have previously submitted. the dilof was not handled properly. you really need(ed) an attorney to handle this for you. i keep forgetting your young age and lack of experience in these matters.

i still think short sales and/or bk are the only hope here, and bk is probably inevitable so you may want to save yourself a lot of headache and just get the bk process started. too bad all the internet sages didn’t foresee this checkmate on behalf of the lender. i’m new to your blog, but even in my short time following the blog, i’ve read a lot of “dude, send your deed in lieu asap,” advice. too bad that all those suggestions weren’t qualified with a, “make sure an attorney walks you through this.”

you definitely need to tee-up a bankruptcy and criminal defense attorney asap. seriously, you may want to find a psychiatrist also–this is not a hack at you, i just can’t imagine anyone going through what you are experiencing, and the aftermath months down the road here without having a total meltdown. the anti-depressants need some time to start working, so i think you should get started asap.

we are all going to hell for taking pleasure in tormenting this poor kid from the comfort of the anonymous web ether like some twisted mass murderer-in-training torturing kittens. this doesn’t bode well for any of us. iamfacingforeclosureofmysoul.com
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39. um ur dumb
November 7th, 2006 at 11:31 am

casey da man wit da reel etsate bidiniss…

i dont tink you have any “LEANS” on yuor proppartys
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40. BT98
November 7th, 2006 at 11:34 am

If only Casey can do some short sell of properties like short sell stocks, he would make a killing.

BT
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41. Aaron
November 7th, 2006 at 11:38 am

hey merc(Casey).
Nice spelling errors ;)
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42. Chris Johnson
November 7th, 2006 at 12:22 pm

Well, you’re certainly getting lots of advice, most of which is worth even less than its free cost, because it’s so wrong! At least the legal points–just look at all the conflicting answers re: the deed-in-lieu, the property tax, the capital gains, the contracts with the “mentors” (I’ve always hated this word). All these “advisors” speak with authority, and yet their advice sucks. Here’s some more free advice, which I don’t think sucks but someone else out there may: talk with your lenders about other D-I-Ls, and get written contracts an attorney (or at least “Rich Dad”) can look over–you may be able to save yourself with a copy of the deed you signed for Dallas HML, but without other written contracts, sounds like he’s trying to screw you over too. Or pulled a Casey on you by agreeing to the DIL then figuring he was better off doing the foreclosure. But I digress–talk to your lenders about dumping the rest of these properties, or they’ll do it for you with foreclosures.

Also, I’m not sure how much you’ll really glean from Rich Dad, or any of the various Esteemed Mentors who were/are courting you, but if you found out how they made their money, I think you’ll find it came very slowly and grew exponentially once their plan was in place for YEARS. Did any of them retire at 29? And how many houses would it take to flip in the next 5 years to have enough to RETIRE at 29? As I’ve found, very few people get rich quickly, but if you persist, and keep getting better at what you do, and work for yourself, and evaluate the real numbers, you can get rich slowly. Also, at age 37, the good advice gets easier to sort from the bad advice, but at age 25 I gave too many gasbags too much credit when they gave me their advice–now I know better.
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43. Chris Johnson
November 7th, 2006 at 12:29 pm

One more thing, which is a good reminder for us all: the SNL spoof on informercials and gurus, with the guy who wrote the amazing get out of debt plan called “Don’t Buy Stuff You Can’t Afford!” It should work with investment properties too.

http://www.youtube.com/watch?v=fMudzRcPxLc
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44. Sir Cornholeo
November 7th, 2006 at 12:31 pm

Merc,

Any chance your last name is Serin?

Casey, вы shouls не иметь ваши кривды столба семьи здесь. No one верит им.

Casey, Sie shouls Ihre Familie Pfostenunwahrheiten nicht haben hier. Niemand glaubt ihnen.

Casey, voi shouls non avere vostri falsehoods dell’alberino della famiglia qui. Nessuno li crede.

I speak 5 languages. See if you can figure these out. LOL
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45. Poor Son
November 7th, 2006 at 12:36 pm

“I forgot to ask about what happens to property taxes… I haven’t paid any. Who will pay it?”

Is Casey really looking for feedback or is he looking for readers. Stupid loaded questions like this reveal his agenda. Casey has a deal based on his story not on his empire. At this point his story is the only asset.

Look for more stupid loaded questions to keep his asset healthy.
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46. star
November 7th, 2006 at 1:31 pm

This is just another example of why you are not a “RE Investor” or “running a business”.

Your approach is much more along the lines of gambling or playing around.

You have absolutely no business structure whatsoever. Even after all these mistakes you still have none.

Did HML put that promise to not report in writing? Why would he do you any favors at this point? Most people would be more apt to screw you hard after all you’ve put him through.

As mentioned, HML has no control over public records. You have pretty much shot down your chances of being a RE investor at this point. You need to find another line of work for the next 10 years.
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47. star
November 7th, 2006 at 1:34 pm

re: “mistakes that you made and how to avoid.”

I don’t think Casey has learned anything about “how to avoid”. He’s still making mistakes and no turn-around in that seems to be in sight.

Essentially, the “how to avoid” can be summed up fairly quick;

Don’t commit fraud.
Don’t be wishy-washy in negotiations.
Don’t buy the top.
Don’t lie to people.
Don’t bite off more than you can chew.
Don’t start a business with no real education.(i.e. seminars are not education)

The thing is most people already know these things. The ones who don’t can’t be helped.
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48. fijirobe
November 7th, 2006 at 2:03 pm

Hey Merc, when it comes to real estate, Casey is dumb, stupid, ill-informed but worst of all ILLOGICAL. Until he gets out of fantasy land, buckles down and takes some real steps to improve his situation he gets no sympathy from me. He put himself here without thinking, researching, or planning AT ALL. The best part is he admits that he made all the mistakes that they told him not too at these seminars he went to. He is the same as the gambler who goes into a casino wins, and doesnt leave with his winnings. The thing that bothers me is the history of dishonesty. You can say all you want, but he has shown a history of dishonest behavior. I only hope that he actually sees the error of his ways and is not just feeding us a bunch of crap. That is of course, if this is a real situation or not.
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49. DoneWastingTime
November 7th, 2006 at 2:15 pm

This blog was fun to read for a while, but has become rather stale. Same old people giving the same advice; same old people complaining about the same things.

This blog has to be nothing more than a way to generate income, publicity, or fame. I can’t believe all these plot twists and storylines. Now he posts as the “Rich Son”, in hopes people will write more (creating more hits and revenue).

There are no “above board” lenders that would not report late payments; especially a house note (helps them foreclose later. Basically they need documentation for court proceedings). That little twist ruined this whole story for me.

Now you are getting more outrageous with claims of confusion and stupidity (all in the name of getting more readers or keeping the ones you have). This story is just too far fetched now. I pray for a quick ending, as this is getting way too drawn out. Quit emulating Soap Operas and try to make this “fiction” a little more believable. I will continue to look at this site for the headline “sheriff outside my door”. THEN I’ll spend time reading.

BTW…Great plan: generate a story that might get you a book/movie deal. Only problem: Everyone who is interested in this subject is already reading it for free (thanks to the news sites links). So why would anyone want to pay for the rights to your story that has been played out for free.

I feel sorry for anyone who really thinks your story is genuine. I was shocked to NOT see the Golden Gate Bridge listed as one of your assets/properties for sale.
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50. havasufsbo
November 7th, 2006 at 2:57 pm

I am starting to not believe this story. How can someone go into the house flipping business and NOT know who pays the taxes if you own a house you pay the taxes. It seems that alot of people are thinking that a book deal or movie deal is in the works.To many things going on for someone in this much trouble and find time for blogging and interviews . It just does not make sense to me. Time will tell.
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51. yneone
November 7th, 2006 at 3:00 pm

Hey Casey, make sure to print-out each of these replies, so that when the book deal comes..you’ll have evidence of all the doubters. LOL.
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52. Back to Reality
November 7th, 2006 at 3:12 pm

Hey Casey, since you are absorbed with your new found celebrity status, I think you need to read this article to snap back to reality:

http://biz.yahoo.com/special/h.....icle1.html

The reality is, you committed fraud, which is a felony offense. I am not trying to be a “hater” but trying to get you to realize that the consequences for your actions might involve praying you don’t drop the soap.
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53. Jen Nomi
November 7th, 2006 at 3:20 pm

You will be required to pay for property taxes for the months you owned the home.
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54. Kevin
November 7th, 2006 at 3:51 pm

Hey Merc - you speak 5 languages??

There is no “shouls” in either the russian or german languages. And did you forget to translate “no one” into russian? Did you use on on-line translation service, like alta vista?? (ahahah)…

Casey, вы “shouls” не иметь ваши кривды столба семьи здесь. “No one” верит им.

Casey, Sie “shouls” Ihre Familie Pfostenunwahrheiten nicht haben hier. Niemand glaubt ihnen.
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55. merc.
November 7th, 2006 at 4:38 pm

“hey merc(Casey).
Nice spelling errors”

Hey you,
Probably i did spelling errors, i came from Pakistan.
Unfortunattely my last name is not Serin.
I just want to show my support.
dum…..
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56. Dumb And Dumber
November 7th, 2006 at 4:42 pm

HMMMM…..Let’s see.

Casey is posting as:

1. Casey
2. Dustin
3. Rich Dad’s Son
4. Merc
5. Yneone

Did I miss one?

Dude, you need serious couch time. I haven’t decided if this is for real or a viral marketing ad gone bad. If that house goes foreclosure status, he is screwed and I bet all deals are off. I guess that the ploy was for him to be *saved* just before the s*** hit the fan, but Casey screwed something up. Now it looks like he may be actually on the hook.

I am baffled why he blew off all of his mentors. I mean, according to Casey he had at least three different groups of people that wanted to bail him out, and he ended up pissing ALL of them off!!! I hate to break it to ya Casey, but the only book in your future is when they book you at the jail. There are hundreds of people that commited far worse crimes than you and the only thinh they got was a jail cell.

I don’t know if anyone has told ya, but you better pray like hell the foreclosure sale doesn’t come up short. If it does then you will get a 1099 and then you gots some ’splainin to do to da IRS baby.

You need to spice the story up. Grow a beard, buy a gun, and make a run for Mexico like OJ. This is growing boring.
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57. The Financial Crimes Police
November 7th, 2006 at 5:36 pm

You’ll be in a prison cell soon with a dsl connection in the prison library so you can carry on your never ending saga and confessional.
Your another cheap swindler with a baby face that robs the public trust. If you’d pursued a real estate license first you might have learned something about ethics from the real estate commission in your home state. Instead you chose the textbook on greed.
You’ll spend a couple of years in prison at best before it’s over. That you can depend on. Shame on you, swindler !
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58. Ca vaut le coup!
November 7th, 2006 at 5:56 pm

I was in RE for over a decade and saw all sorts of obviously illegal things going on. I could hardly believe it because it was so flagrant, so common place, and so obviously tolerated by the banks. No one was ever sued or prosecuted for any of it. Not even the stuff that hit the newspapers which pointed out where a Realtor had advised clients to lie on credit applications which was common practice in the field. Everyone went on their merry way. Banks don’t care. It happens every day all day long. If a bank official pointed to one application that was fraudulent he would have to review all the others he/she had processed. Think that’s going to happen? Not in this life time. Foreclosures are a hard and fast rule by rule process. Get yourself a rule book or hire someone who owns one. You are well protected in this process from those who would hurt you. Even lousy, lieing bankers one of which may have taken advantage of you illegally in Texas. You have recourse. Hire a professional. RE is a field that I have found to bring out the worst qualities in every human involved in it. Best of luck to you.
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59. Legion
November 7th, 2006 at 5:58 pm

merc,

We’ve heard all the those without sin cast the first stone yadda yadda yadda so shut the hell up! Reread your post you imbecile and realize that you of anybody should not be judging anybody’s intelligence. Also, you really think that a MILLION people are against one? This guy barely gets 100 comments a day(out of a million?), so lay off the exageration already eh? How do you know we are not willing and able to place ourselves in his shoes? And NO, I can guarantee you that the majority of people on this board did not make a “mistake” (only a weeny like yourself would make every illegal thing he did a ‘mistake’) as big if not WORSE than your hero.

“If so, then what come out of this are the fact that you are dumber then this young man. Where is your reasoning? Where is your compassion? Hey, you “the educated” are it proper to strike someone who is already down?”

Kindly reread your sentence and repost once you have some knowledge about basic grammar..I mean lol “are it proper?) WTF? “If so, then what come out of this are the fact” Ha ha ha ha ha. You know what? Your english reminds me of all those emails that I used to get from Nigeria!

I actually speak 3 languages, so there goes your arguement down the toilet, and I’ve read Casey’s post…his English is nothing to brag about.

“climb out of the whole he is currently in.” I assume you meant HOLE like the one in your head?

“I solute him for all of his accomplishments” what the..chemistry now? Oh you mean SALUTE, retard.

“So, I will play for him. God will not leave him.” Okey dokey merced, you go ahead and play your skin flute for him ok? Sheesh what a moron.

“It is my first time speaking up in this web site.”

Make it your last you moron, you aren’t helping him any..your post just shows that it is the dumb and mentally challenged that are rooting him on and still think he has a shot at getting out of this. Let me guess merced…you play the lottery right? That’s your retirement plan? The lottery? Taxes on the stupid?
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60. 6-4-3
November 7th, 2006 at 6:47 pm

You know, after looking at the site registration for this blog, I just realized that I live about 10 from Casey (with no traffic). Just right down 80E for about 5.5 miles. I’ve seriously had to stop myself several times from driving up to Roseville and kicking his a** . Someone needs to smack some sense into him. But he’s just not worth the headaches of an assault and battery charge.
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61. PT Barnum is alive and well
November 7th, 2006 at 7:20 pm

Whatever happened with the BK lawyer? What happened to “coming clean” and ” focusing on selling the properties and not blogging?” You see, this is why it has to be a scam site.

You throw out some fresh meat as a topic foe the day, then it’s done and forgotten. New charachters are introduced with exciting twists and turns to the story in an effort to keep the blog spicy. The threads become increasingly manic and over the top, as if with purpose to evoke drama.

Let’s not forget about the staged photos, multiple interviews, media whoring, the ‘phony’ auction, and newly found revelations of a history of being a con artist.

Yet, no arrests. Why not? Come clean already Casey.
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62. Misstrial
November 7th, 2006 at 7:21 pm

RE: Financial Crimes Police (lol!) Post

The incarcerated do not have the ability to post on the Internet or World Wide Web. They can read online, but cannot send out any posts or communications (at least in California).

Here are some sites for those looking at doing some prison time may wish to Bookmark:

1) PrisonTalk.com
Description: “The Global Communications, Support & Information Nexus for Inmates’ Families & Friends

The PrisonTalk Online web community was conceived in a prison cell, designed in a halfway house, and funded by donations from families of ex-offenders, to bring those with an interest in the prisoner support community a forum in which their issues and concerns may be addressed by others in similar circumstances and beliefs.

Inside the PTO web community you will be able to find support from others who are dealing with, or have been down the same dark road you may currently find yourself, information resources & tools to aid your in achieving your goals, and most importantly, a place to communicate and share your stories.

There is no worse feeling than that of being alone and helpless. This applies to the families of those who are incarcerated just as much as it does to those behind the walls. PTO’s goal is to bridge the communication barrier that exists in and around the criminal “justice” system today and bring everyone in the prisoner support community closer together to effect change in policy, prisoner rights, sentencing and so much more.”

2) Prison Calls Online
Description: “No Credit Check, Everyone Is Approved, No Deposit”

3) NPSC
Description: “National Prison & Sentencing Consultants”

4) PrisonLinks.com

5) FriendsBeyondThe Wall.com
Description: “You can make the difference in a lonely inmate’s live.”

~Misstrial, copyright 2006
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63. T.White
November 7th, 2006 at 8:18 pm

Four questions & a comment:

1) If john q. public flipper is sidelined as RE market turns down, what will become of ‘learning’ and ‘discovery’ TV without ‘Flip this house’, ‘Designed to sell’, ‘Trading Spaces’ etc…?

2)What shows will replace them?

3)Will lenders request information pertaining to an applicants ADD/MANIC/DEPRESSIVE diagnosis in the future (ala our mutual ‘friend’)?

4)At present, does a personality disorder alter grounds for prosecution? (Misstrial?)

Rich Dads son: I have a friend who I’ve known since age five. I’m 37 now. At 22 I moved overseas. At that time he seemed ‘the same- mostly’. Through correspondance and moreso, mutual friends, I became aware of ‘deviations’ in his personality. After seeing him 6, 4 & 2 years ago his ‘disorder’ has become increasingly clear.

You must have seen the progression in Casey (over 10yrs) that I didn’t see in my friend.
The truth be told, many of my friends/relatives who have been closer to him (geographically) even still fail to see the change in him and chalk it up to him being an @sshole.

His sole mindedness, self-centeredness, recklessness reminds me of ‘our mutual friend’.

Casey I don’t know you so I won’t/can’t judge you.
If you are of sound mind, you won’t get a book/tv/movie deal.
People don’t like frauds.
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64. Misstrial
November 7th, 2006 at 10:14 pm

Re: T.White’s Post

“At present, does a personality disorder alter grounds for prosecution? (Misstrial?)”

No, the suspect will still be prosecuted based on the evidence admitted by the judge (prosectors will not charge unless there is sufficient evidence to show “probable cause.”)

Allegedly having a personality disorder would affect the way the suspect’s defense is designed by his/her defense attorney(s) though. You can just imagine all of the formal testing that would be necessary to prove that the suspect has this (or any) disorder. (There are basically 3: psychopathy, sociopathy, and antisocial personality disorder. All are related but not identical conditions.)

Having a personality disorder could actually make defending the suspect worse, imo. Depends on how much sympathy the jurors have for the person, imo. Personality disorders such as psychopathy, imo, do not engender juror sympathy. (Sorry for all of the opinion. but that’s how I see it.)

Example: Babiak & Hare have published that psychopaths are without conscience and incapable of empathy, guilt, or loyalty to anyone but themselves - this trait is easy for jurors to spot, especially when detailed by a skilled prosecutor. Scott Peterson is a psychopath.

Then there is sociopathy which is not a formal psychiatric condition - its a pattern of attitudes & behaviors that are considered antisocial and criminal by society at large, but are seen as normal or necessary by the subculture in which they were developed. In other words, sociopaths may have a developed conscience and a normal capacity for empathy, guilt, and loyalty, but their sense of right and wrong is based on what’s considered normal in their subculture or group. Many criminals can be (and are) described as sociopaths.

Are you thinking of the Insanity Defense, maybe? It’s not used very often. From what I understand, its used in less than 2 percent of all criminal cases, and when its pleaded, that defense is usually not successful. Of the 2% only 1/3 of the insanity pleas succeed. There is risk to pleading insanity - Not Guilty by Reason of Insanity (California) and those convicted can and do spend a significantly longer time in confinement for serious offenses than those convicted of similar offenses.

The above is an extremely simplified response to your query.

Good read on the psychology topic: “Snakes in Suits,” by Drs. Babiak & Hare.

~Misstrial, copyright 2006
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65. astrid
November 8th, 2006 at 4:17 pm

Maybe Casey is gunning for a sequel to Arrested Development.