Facing Foreclosure on National TV Tomorrow

Look for my Facing Foreclosure story on CNBC tomorrow. Airtimes are 7:55a Pacific Time and again sometime in the 10 AM hour.

Unfortunately, the network did not give me permission to post a recording of it on the blog. But who knows, maybe somebody will throw it up on YouTube or something… I’m not encouraging this, I just know sometimes stuff makes it on there, that’s all.

Now I need to go make sure my host and my blog is ready for the traffic spike.

More on borrowing 50 grand, and other creative ideas to come soon. Also, stay tuned for a live conversation with an ex mortgage fraud convict next week.

By the way, I don’t have cable at home. Maybe somebody can record it for me. Yes?
Borrow 50 Grand to Stop Foreclosure and Sell My Houses Creatively
Conversation With A Mortgage Felon - Live Podcast Next Wednesday
121 Comments

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Ken
November 29th, 2006 at 3:48 pm

Do you ask them if you can borrow 50g’s or if they know someone.

You better get your advertising links set up so you can make some money. So you can “pay off” the banks.
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Eric
November 29th, 2006 at 3:57 pm

If you spin this right, you could easily land a book deal or a tv show of some sort. Which is what you obviously want to do. Landing a nation-wide TV spot is hard to do, however they are using you also.
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idiot
November 29th, 2006 at 3:57 pm

WTF? Why would you give them an interview if they won’t release distribution rights to you for your web page?

Oh - I forgot - you like getting screwed over.
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Deeply Concerned
November 29th, 2006 at 4:14 pm

I’ve been following the blog for quite some time now. I’ve got to be honest, sounds like you’re in a hole (due to not following the fundamentals) and are looking to get out of it (by not following the fundamentals). “50 grand to stop foreclosure” is a perfect example of this.

But the real kicker is this . . . you still want to raffle off a house, which is against the law in every state that allows raffles. The states that allow raffles only allow them to be done by eligible non-profit organizations, not people that got stuck with an overvalued house. Furthermore, with the exception of one state, you can not operate it on the internet, which is exactly what you are trying to do. There are a very few successful house raffles in California and around the country and they are very much legit.

If you are interested in a REAL house raffle you should check out the guys at www.mmsraffle.com

That house raffle is being run by a non-profit school and the house is three blocks from the ocean, or the winner can choose cash. It’s actually pretty cool.

Kudos on the publicity, but unless it is aggregating to you getting your act together and stick to fundamentals (sigh), it won’t amount to very much.
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Robert Coté
November 29th, 2006 at 4:26 pm

I do not wish to give you permission to appear on CNBC. You have obligations, responsibilities. To me, to others. You need to be down at the courthouse with the papers that stop my bleeding. Why are you doing this to me? Enough of me and the rest of the people you are hurting. This is and always has been about you. Okay, think about you but put yourself in the position of the Sacramento DA or CA AG. They can’t get on CNBC. Once you appear, they can get on CNBC. Guess how.
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SAM
November 29th, 2006 at 4:26 pm

Have you considered selling your homes to a real estate investor who buys properties in foreclosure? Buy selling to someone who specializes in properties in foreclosure you will find someone who can buy the properties for fast cash help you settle the duets protecting your credit and you may make a little money on the deal. By doing this you will be able to start again with no real damage, but what every you do DO NOT LET THOSE PROPRTIES BE FORCLUSED ON.
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Agatha
November 29th, 2006 at 4:28 pm

What are you doing?!?
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TIRED OF YOU
November 29th, 2006 at 4:32 pm

You are a bad conn artist. NO ONE CARES!
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ZaDarama
November 29th, 2006 at 4:37 pm

Hi Casey,
I’ve been watching you for a while now and must say your blog has been the best read we’ve had all year! I want to let you in on a little chatter going on here in the Land of LaLa…that after you appear on CNBC tomorrow, expect to receive the blessing you have been praying for 10 fold, for your humbleness and sincerity regarding this situation. I say this because Hollywood has it’s eye on you… and fabulous things are known to happen to people like you here! Let me be the first to say Congratulations! You did it! See you in LA! Z.
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jeff Emig
November 29th, 2006 at 4:45 pm

I read this story today and thought of you
“on his way out of court after filing a lawsuit, he was arrested on secret bank-fraud charges….Although resolution of the matter took four years, in the end Goodwin was convicted of failing to list an unpaid prior loan on a new loan application and sentenced to 30 months in federal prison.

WOW…..

http://www.ELTOROENERGY.com
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casey_fanboy
November 29th, 2006 at 4:45 pm

Now, cut to casey the loser prior to his going to jail.
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Carlos
November 29th, 2006 at 4:49 pm

The reason you should borrow some money is to hire a pro or at least someone with a lot of experience to help you monetize your blog for max profits, esp considering the traffic increase.
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Dan Riba
November 29th, 2006 at 4:50 pm

I wanna know what kind of Andy Kaufman shenanigans is going on here! This is too contrived to be on the level.
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More Interesting Than a Car Crash!
November 29th, 2006 at 4:59 pm

Oh, this is just great. You’ve officially loosed your mind.

As if there weren’t enough reasons for banks and lending institutions to make it nearly impossible for people to invest in real estate - now we have you going on national television to prove why there should be so many rules and reglations in this industry.

I can see it now: get ready for all deeds and mortgages to include a “Casey Clause.”
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Republicans are funny
November 29th, 2006 at 5:10 pm

Still figuring out if Casey is a Hannity type or a Randi Rhodes type.

Both are losers and if Casey were as smart as he says he is, he’d realize that going on CNBC is a waste of time just like meeting with that “guru” he so admires.
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Bubba_The_Dread
November 29th, 2006 at 5:12 pm

400+ easy. Many people will ask if you have declared bk yet, or tell you to do it now.
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I Can't Wait!
November 29th, 2006 at 5:18 pm

I can’t wait. Really I can’t. Here’s why: CNBC does a lot of those side by side interviews (you know, the cones wher the guy from NAR on the left makes his compelling case why real estate ALWAYS goes up and you’re a dolt if you dont have 6 or 7 houses by the time you’re 25, and on the right some schlepp PhD economist with all kinds of charts, analysis and DATA that show why right now we’re headed for one of the worst real estate bear markets since the Dutch Tulip Bubble os 1636-1637).

Only this time it will be Casey with his iPod ear buds on the left and a career US Justice Dept. prosecutor (Criminal Division, Major Financial Fraud Section) on the right. In typical “news” style they’ll let Casey go on for a bit trying to earn the Nation’s sympathy, then they’ll say to Casey: “Thank you Mr. Serin. Now for the counterpoint we have H. Ellington Wadsworth III, Deputy US Attorney Criminal Division, Major Financial Fraud Section. Mr. Wadsworth, can you comment on the rumors that the Jusice Department has an active investigation involving Mr. Serin?…”

Oh yeah, the last time I saw the statistic for market hours average viewers of CNBC, it was something like 85,000 TV’s. When you count how many stock brokers have it on in their office on mute (I was one of them), not many eyeballs watchin’.

T-vo! T-vo! T-vo!
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Chris Johnson
November 29th, 2006 at 5:18 pm

My nine-year-old son, after studying the Titanic in school this month, asked if it was really true that there were people who kept playing their card games after the ship struck the iceberg, and didn’t know it was sinking. “Why didn’t they get off the ship?” I told him I didn’t know, but now I can point him to this blog.

I still don’t have an answer for why Casey doesn’t get off his sinking ship, but at least my son will know the Titanic guys weren’t the only ones–maybe they were waiting for their exclusive New York Times interview, followed by their revealing more details about their plan to borrow money to repair the ship before it sunk.
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I Can't Wait!
November 29th, 2006 at 5:21 pm

I forgot.

Wouldn’t it be slap nuts funny if his segment was bookended by some kind of e-loan or Ditech commercial? Then the announcer goes: “This segment’s Real Time Ticker is sponsored by CountryWide Credit - where we do loans others won’t!

I’m on the floor already!
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John Law
November 29th, 2006 at 5:39 pm

This really is playing out like the Tulip bubble!

http://en.wikipedia.org/wiki/Casey_Serin
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Get A Job!!!!
November 29th, 2006 at 5:42 pm

As much as I had fun reading this blog and thought it was very entertaining. But in the end. I know and I’m sure most of you guys already know that Casey is just full of B.S. Casey has done a great job with the marketing campaign on his blog and he has to make sure he drags his BK as long as possilbe in order to keep the constant traffic to his blog. Which is brilliant on Casey’s part. I’ve noticed some great questions in the past by some “legendary” people who posted messages, but Casey said he would get to it, but never did. And even some of you guys who currently ask him a simple question on his business plan, timelines, great sound advice, difference between “lose” vs “loose” etc…He doesn’t come back to answer any of them. Instead he comes back with Posts of borrowing 50K more. Which does a great job and brings in more posts and more traffic.

But honestly do any of you guys even think for 1 minute that Casey would do this crazy scam even if he had 50K. If you guys really think that he would have done it…Well then take a look in the mirror and you’ll find yourself a bigger sucker. Let’s just say that if GOD magically blessed Casey with 50K into his bank account. Why would anyone in the world throw away 50K more into this money pit in order to sell via “lease to own” to people who have no business owning a home. Would anyone hand over keys to a car to one of these so called “homebuyers” that Casey has lined up and hope they keep paying off the car loan. Then why would anyone in the world give them the keys to a house. Even one of Casey’s great supporter Mr. Nigel Swaby gives him great advice, but Casey comes back with this 50K scam.

I can guarantee that Casey knows how this story is gonna end. But since his only asset now is his audience to this blog. He will try and prolong the end of this story as long as possible and make sure he makes up some juicy scams to keep you guys entertained as long as possible. Yes…I’ll admit it that it is entertaining, but please stop these posts on how Casey is stupid, crazy, an idiot…etc. Just relax, sit back and enjoy the show. Because it doesn’t matter how much you yell at the WWF wrestler that his opponent isn’t unconscious as he’s awaiting to pound him from behind with a chair. He’s still gonna get pounded. So just save your breath and realize the outcome is already set and let good ol boy Casey here take you on a ride that you’ll enjoy.
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What makes a criminal a criminal in this business
November 29th, 2006 at 5:49 pm

Everyone who posts says Casey is a criminal, but why exactly hasn’t any sort of authority come after him? What has to happen for him to feel any real legal consequences? What is different between him and the other people who are listed on all the mortgage fraud web sites? If someone knows, please clarify.

For the record, I don’t wish any ill will upon Casey. I’m just trying to understand the readers comments about crime versus why Casey has had no problems with anyone. Given the publicity around this web site and houses, surely some lender and person in power has read about this situation.

In another blog comment posting, someone said the only reason they didn’t go after Casey is because he’s white. I didn’t want to believe that, but I’m wondering about the justice system. If the man already lied on his loans and committed fraud, why would the system let him continue to operate when his damage to his lenders only gets worse over time? The time value of money is being neglected here. In other words, the damage to victims only gets worse over time. Why aren’t these victims and their rights being protected in the face of blatant fraud?

Are the victims are hoping for a magical bail-out on account of all the media attention and press that Casey is getting? What’s going on here exactly? These are not owner occupied homes. They should be able to take possession of them based on the fact that crimes were committed.

I just want an explanation, because it just doesn’t seem right that he can even do this.
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star
November 29th, 2006 at 5:50 pm

This debacle is starting to remind me more and more of 2000/01 equity markets. One person from back then comes to mind. He too had a blog of sorts and got himself in a jam with some fraudulent actions. He was an internet-personality with many “supporters” and “haters” active in discussion. He also ended up on CNBC. It was shortly thereafter that the feds railroaded him bigtime and held him up as an example. Unlike Casey, he had some decent assets at the time. It wasn’t long until the big home and Ferrari were taken away and he was behind bars.

A rational person finding themselves in Caseys shoes would be laying low right now. We would have never heard of him. Caseys deluded self-importance won’t allow him to do that. He’s ignored the fact that many people out there hate “flippers” with a passion and like fraud even less. The average person would never condone Caseys actions and would like to see him behind bars. You can bet that anyone connected to Casey through these loans is now thinking the need to nail him to take the heat off themselves.

I am ready now to place good money on a bet that Casey will end up being arrested. It’s just a matter of time now.
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TITANIC
November 29th, 2006 at 5:56 pm

From Chris Johnson: My nine-year-old son, after studying the Titanic in school this month, asked if it was really true that there were people who kept playing their card games after the ship struck the iceberg, and didn’t know it was sinking. “Why didn’t they get off the ship?” I told him I didn’t know, but now I can point him to this blog.
Answer: They kept playing cards because the water off Newfoundland was so cold they knew they wouldn’t survive 20 minutes swimming in it, and there was no more room on the lifeboats. This is similar to our Casey’s position, as it looks to me as if he’s doing nothing productive to deal with his problem but bitching about his plight. When the calendar flips over to December, he faces another $20,000 or so in missed payments coming in waves lapping into his mailbox. Forces beyond his control, so keep dealing Casey.
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Me
November 29th, 2006 at 5:58 pm

There will be a traffic spike but it probably won’t matter. It’s likely that the general public is entering a second phase of denial about the housing bubble and crash. (prices down 17% in Florida y-t-y this month and Walmart sales growth negative - huge news but nobody wants to know)

I think this site and the housingbubbleblog.com (i.e. both sides of the RE story) are being tuned out.

Nobody wants to know.

http://www.realmeme.com/roller.....asey_serin

http://www.realmeme.com/roller.....e_analysis

If you’re going to do a book or Hollywood deal, you’re running out of time, Casey.
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Bryan
November 29th, 2006 at 5:59 pm

Casey, Casey, Casey. You are pure genius. Keep it going!

How about the essay contest, “Why I should get the Iamfacingforeclosuredotcom House”? How is that coming?

Remember, since it’s a contest of skill it IS legal, IMHO. You should definite require the correct usage of “loose” and “lose” somewhere in the essay.
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jonny quest
November 29th, 2006 at 6:04 pm

This is just the start of things, kiddo. Good luck and go get ‘em tiger. Afterwards, please lobby for a sidekick role on “Mad Money.” I’d love to see Cramer throw nerf phones at you while you yell, booya!

PS: Will the ladies be on with you too - you’re under contract with them, right?
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M. SINGH
November 29th, 2006 at 6:08 pm

GENTLEMEN,

I believe that CNBC, a low-rated basic-cable station, is an insufficient vehicle for Mr. SERIN’s riveting story of multiple foreclosures.

I propose that a better avenue would be the network television staple “The Jerry Springer Show.” Mr. SPRINGER could introduce surprise guests such as Robert KIYOSAKI, Savvy Chris, The East Coast Mentor, representatives of Wells Fargo’s fraud division, and the man who loaned $3000 to Mr. SERIN. The show would culminate with a fight between Mr. SERIN and the “No Limits Ladies” — with improvised weapons ranging from folding chairs to large blue exercise balls.

After many chants of “JERRY! JERRY!” Mr. SPRINGER can deliver his final thought, which is not dissimilar to that of other posters here: Mr. SERIN should declare bankruptcy and forswear any attempts at real estate investing for the next ten years.

My representatives will soon be in touch with Messrs. SERIN and SPRINGER so that we may bring this to fruition.

I remain,

M. SINGH
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Jim Jones
November 29th, 2006 at 6:16 pm

Why don’t you raise the $50K by writing all your friends and family an email guaranteeing a 24%/year return on their investment?
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Me
November 29th, 2006 at 6:18 pm

Oh, I forgot to mention. My site is one (sometimes two) of the top 10 Google results for

“casey serin”
“iamfacingforeclosure”
“iamfacingforeclosure.com”

so I have a better idea of how much new interest there is. I’m averaging 3 queries a day, man.

Dude, dump the houses. The odds are high that the housing crash is just starting, and will last at least two years.
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John
November 29th, 2006 at 6:19 pm

This comment is directed to the other readers, not Casey. I am a bit curious as to when and how Casey can expect to be contacted by some kind of law enforcement official. How generally does it happen? Do aggrieved lenders need to file a formal complaint? Are there special government agencies responsible for identifying these sorts of crimes and taking action? Who would handle the investigatory aspect of a proceeding? Local police? FBI? Other agency? District Attorney?

Like other readers I find myself addicted to this blog as it is quite literally a very slow-motion train wreck. A huge one. Regardless if whether Casey sells, DILs, or otherwise disposes of his properties, the end-game as described above does seem to be inevitable and I am curious as to how it is likely to be played out.
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GaGa
November 29th, 2006 at 6:48 pm

And this helps you get out of your mess exactly how??

Ooops - I forgot, that’s not really your goal…

You’re an attention wh**e, with delusions of RE mastery, compounded by illusions of the RE fairy magically fixing this.

Your next guru should be a psychologist.
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David Kimball
November 29th, 2006 at 6:56 pm

Casey,

From my perspective as a CPA, that seems like a good trade. You give them someone to talk to with an interesting story, and they give you enough traffic to generate the $50k in ad revenue. That’s brilliant. Nice work. Heck, you could even turn a profit. What’s more, you don’t owe anyone that money.

Truly an innovative flipping technique. I’ll have to add that to my list of “Flip Tips” on FlipperNation.com!

Don’t stop flipping (’til you flop)!

David
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Unbelievable
November 29th, 2006 at 6:56 pm

Whatever willl we do when Casey finally gets arrested, goes to trial and is sentenced ? I don’t think they’ll let him bring his laptop. What a sad time that will be !
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Weird Nation
November 29th, 2006 at 7:05 pm

Very weird, a bank fraud then become a media stars, USA is weird, i thought cheaters should go to jail for what they done.

Why this guy is not in jail now and keep blogging???

Haaaa, USA really is a nice place for criminals
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Uzbecky
November 29th, 2006 at 7:06 pm

Geez, how many of you commenters are drunk tonight?
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Star
November 29th, 2006 at 7:07 pm

Let’s go out and buy many houses then be like this guy and be famous and not in jail.

I'’ll be more famous than this guy and i won’t be in jail.
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Free Advice
November 29th, 2006 at 7:48 pm

Everyone who posts says Casey is a criminal, but why exactly hasn’t any sort of authority come after him? What has to happen for him to feel any real legal consequences? What is different between him and the other people who are listed on all the mortgage fraud web sites? If someone knows, please clarify.

Let’s say I own a store. I post one of those “shoplifters will be prosecuted to the fullest extent of the law” signs.

Maybe I mean it. Maybe I don’t. Maybe I mean it for an expensive product, but don’t care if it’s a stick of gum.

If I’m a man of my word, I’ll do what it takes to nail all those SOBs. But that means swearing out complaints, talking to prosecutors, and occasionally going to court. However the fact remains that even if someone starts a blog iamashoplifter.com and admits stealing a TV from me last Friday, nothing much is going to happen unless I’m willing to step up.

Now, if someone swipes something from my store and a cop happens to be standing right behind him, that’s a different matter. Assuming the cop is willing to arrest him and charge him, I’m probably not even needed (although it would help).

Some on this blog seem to think that if you admit to something on your blog, you’re toast. But the reality is that any case that involves lying on a mortgage application pretty much requires that same application be turned over to the prosecutor.

Can the prosecutor get that application without the lender’s cooperation? Sure, they could, but it’s a big pain in the ass.

Maybe lenders are cooperating. Maybe not. If they’re not, I’ll bet it’s because they’d rather not air their laundry in public.

This whole stated income business has gotten way out of hand. In several cases where I’ve used these loans, brokers are emphatic about doing all they can NOT to learn more about my sources of income. If I suggest it, it’s like offering Kryptonite to Superman. After all, if they DO hear about my income, and they don’t like what they hear, they’re pretty much obligated to tear up the paperwork. I’m sure some lenders would rather these practices get buried.

Now, on another note…

This part is only my opinion, but I’m a moral relativist. I believe that some things ARE more evil than others. For example, consider someone who calls up old ladies, cons them into wiring their life savings for a “sure thing” investment, “refinances” their mortgages with outrageous fees (I’m taking five figures), or gets them to sign over their deeds — and then shuts his boilerroom down to skip off to Belize with a few million.

Most of these mortgage fraud cases you read about involve people who set up dummy buyers, counterfeit identity documents, etc. in a concerted effort to actually commit theft.

I could be wrong because I don’t know him, but I think if Casey lied on his applications, he wasn’t nearly as evil as these others. If the market had cooperated, he would have just sold the houses for a profit and paid back the lenders. Most of those others were plain outright trying to steal.

You may disagree, but if so, be sure to turn yourself in if you’ve ever gotten cash and not declared it to the IRS or even fudged a deduction. That after all, is perjury.

And if you’re really an absolutist, you should probably dig all those pens out from under your couch and send them back to your employer.
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Voice of Reason
November 29th, 2006 at 7:52 pm

Hi Casey:

CNBC - wow. You are becoming the poster child for foolish decision making, poor judgment, and impulse behavior. And that’s on a good day.

I know you are going to be your optimistic and upbeat self, but what about the cold hard facts? You lied. You committed fraud. You seek to have others bail you out of this mess. (For example how do you plan to repay the proposed $50,000 loan when you haven’t repaid your friend’s $3,000 loan last month — not to mention the fact that you had to “beg” Chris for a cash advance on your “salary”)?

What will it take for you to understand that despite all the attention you are getting from your blog, the newspaper stories and televised interviews that you have failed? You are just a one inch from hitting bottom.

Are you really PROUD of yourself. Are your parents proud? What have you accomplished? Yes, you may have had one successful flip - that was dumb luck. And what did you do with the proceeds with that money? I bet you didn’t pay capital gains income tax on it! (Yes, because you lived in the condo for less than two years, taxes are owed on the profits from that sale….)

Some people think you are shopping for a book or movie deal - but I don’t think that’s going to happen - unless, of course, you announce that you (or your wife) have cancer. Your story is not compelling enough. The movie would be a bore… just some kid “doing deals - getting cash - then spending recklessly…..” The reader/viewer will want to slap you silly every time you lie on a loan app or apply/use a credit card.

The internet blog is an interesting twist to the story, but what makes the story compelling isn’t you and the media attention. No - what is interesting are the various characters responding to your blog. It is the wide variety of individuals who respond with passion and creativity that make that make this blog. You are only able to come up with one idea and posting per/day. It is the responders who react, the nature of their reaction, their humor and creativity, not to mention subsequent correspondence with each other that makes this blog fun.

I think the true story is that of the responders. You are just “background” and ultimately a minor player in what could be a very successful and entertaining book or movie.

However, my thinking is if this does become a movie - there will be a lot of college kids drinking shots to the following phrases:

“Every Dirty Penny”
“Sweet Deal”
“Guru”
“I need a Jamba Juice”
“Cash back”
“Can I use my debit card?”

Ultimately, the ending of the movie will be you - sentenced to “house” arrest. No flipping allowed.
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Crashlander
November 29th, 2006 at 7:53 pm

COMING SOON ON NBC:
‘Everyone Hates Casey’ - Thursday 8PM / 7 Central

Don’t “loose” your remote control you won’t want to miss Casey hunting for “lose” change to buy jamba juice for his wife’s birfday party at the strip mall.
————————————————————-
Episode 1: This week Casey tries to get a loan from a man he meets on the internet but ends up loosing his ‘pre paid loan fee’ and never lands a loan. :-(

Episode 2: Casey hires a contractor to paint one of his flips but the guy dissapears and hilarity ensues as Casey paints THE WRONG vacant house himself on the same street owned by another flipper! But it looks great!

Episode 3: Casey has a buyer lined up but he looses the key to the house, then cuts himself breaking in to show it and ends up in hospital with no medical insurance and huge bills for his troubles !

Episode 4: Casey rents one of his vacants out - TO A PORN STAR and when she can’t make the rent he accepts free porn instead and tries to resell it on ebay but the FBI nails him cuz she is underage!

ok i’m done. fun stuff here.
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Unbelievable
November 29th, 2006 at 8:18 pm

Now that’s funny Crashlander !
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Try Suzy Orman
November 29th, 2006 at 8:29 pm

Casey:

Your next media appearance should be the Suzy Orman show on CNBC. Suzy is smart and will give you great suggestions - many of which have been provided here.

If Suzy can’t help you - no one can.
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Max Stein
November 29th, 2006 at 8:31 pm

Nice post Free Advice.

I think even the brain dead, idiot “haters” on this blog can understand that.
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Lou Minatti
November 29th, 2006 at 8:49 pm

Casey,

Have you consulted an attorney yet? You need to be careful about what you say.
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Tatiana
November 29th, 2006 at 8:52 pm

Casey,

Going on CNBC might be the biggest mistake yet. They are known to roast people and will probably rip into you like Russian Bear into a deer carcass. All of this publicity on CNBC will hurt you in the long run and not help you. You’ll get traffic to your site, but anyone who looks at your site is going to see you for the idiot that you are. All the times you have been fumbling around, flip flopping, jamba-juicing, macaroni-grillin fool. No one in America is going to feel sorry for you or even want to help you when they see how you have mismanaged so much of your life.

The best thing that can happen is CNBC or you changing your mind last minute. This is going to be a disaster.
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dennis
November 29th, 2006 at 8:58 pm

call oprah or dr. phil or montel
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Free Advice
November 29th, 2006 at 9:07 pm

“I do not wish to give you permission to appear on CNBC.”

Casey, I give you my permission to appear on CNBC.

Heck, I’m generous today. All of you have my permission to be on CNBC. Or even Fox News. But not MSNBC. I have to draw the line somewhere.
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Big Cheese
November 29th, 2006 at 9:29 pm

For those of you saying Casey is going to face prosecution from the lender, it ain’t gonna happen? Why? Because the lenders made the money when they did the deal and then re-sold the mortgage and liabilities to the likes of Fannie May. They were given this power of making 10 times more loans as cash available (a term known as fractional reserves) by the Fed Central bank.

So the people who have to eat this loss are… all of us!

If you want to see Casey get prosecuted or charged you would have to write to your local elected officials and express outrage over this matter.

This is of course, up to you. Assuming Casey even lets this post go through.

Big Cheese
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yneone
November 29th, 2006 at 9:32 pm

Ha! Go Casey! I am rooting for you all the way! Some people like to treat this situation like its a routine story. I beg to differ. This situation is way intriguing which is why myself and others like me visit this blog on a daily. Stop your holier-than-thou attitude. Casey may be on to something. If by chance Casey is jailed (and I continue to pray that this does not happen), you can bet the networks will be reaching out to him for a movie or book deal. How many of you will tune in to the interview tomorrow? Liars.
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Big Cheese
November 29th, 2006 at 9:33 pm

Casey,

For your TV appearance make sure you keep up your image / personal brand. You must wear your trademark blue shirt and khakis and bring along the blue ball for a seat. You’ll want to request that they get a shot of you sitting and sticking your butt out balancing on the ball as you talk about bird dogging sweet deals. That would be sweet.

And bring along a bottle of Dasani bottled water and / or products from any of the following establishments:

- Jamba Juice
- Starbucks
- Macaroni Grill

Now you are establishing some personal brand identity. I think you should have some sponsors soon that will pay big bucks to see you promote their products.

And don’t forget about the Casey Serin doll idea- with the amount of publicity you get on TV this may be become very lucrative. It’s too bad there isn’t enough time to get this out in the 2006 Christmas season… a golden opportunity wasted.

I don’t know if you will be able to maintain the buzz into the 2007 Christmas season, but am hopeful.

Big Cheese
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jozsibacsi
November 29th, 2006 at 9:46 pm

Are you going to talk to Erin Burnett? She’s a pretty hot econo-babe.
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Casey Serin in prison 2008 (fake)
November 29th, 2006 at 9:53 pm

Hi Guys,

Casey Serin here. I loost my case, and am now facing my first night in prison. I admit I was scared at first, but my mood lifted when I was told I can keep my Robert Kiyosaki books.

The guys here are pretty cool. They’re all bargaining each other to see who will be my protector. This nice guy named Vern Schillinger said he’ll protect me from the other guys if we share the same cell. He said he wants to hear about my Real Estate journey when lights out happens tonight. I just asked the guards to put me in Mr. Schillinger’s cell. They said isn’t a problem.

Can you believe Prlinkbiz promised to post my letters on my blog? All I had to do was sign come contract. She’s pretty cool, so I didn’t bother to read it. I get some good vibes from her.

If prison is this nice, with nice caring men like Mr. Schillinger, and Prlinkbiz to look after my interest, I think the next 8 years will go by quickly. At least I can read Robert Kiyosaki’s newest book “Rich Dad’s Message from the Grave… New Secrets from the Rich Dad Seance/Seminar 2007″.

Well guys, thanks for the kind words, even the haters. I learned from all of you, and hopefully my story has helped some of you. I don’t want any of you to loose any more money in this multi-year recession.

I’ve turned off the moderation, so I’m trusting you guys to keep it nice. They don’t allow me to use the blackberry behind bars. Bummer, but at least I can catch up on my fasting, reading, and talking with my God.

I’ll mail you guys next week with my updates from prison. Thanks again, Prlinkbiz for posting this on the blog! A new journey of personal development begins!
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Joey Bobo
November 29th, 2006 at 9:58 pm

Casey, you should blame booyah guy Jim Kramer and Larry Kudlow for lying about the housing market.

Blame the banks and mortgage brokers too, for giving a immigrant kid millions of dollars to play with.

Blame everyone, and then say no one gets hurt, since the banks repackage the loans and then sell them to the Chinese commies.

You’re guilty, but you’re not alone in guilt. You really should reach out to a prosecutor, and make a deal. If you help to bring down this corrupt system, you’ll end up doing some good with your life.
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Gary G
November 29th, 2006 at 10:09 pm

CrashLander-
You singlehandedly have the best idea for a reality tv show I’ve ever heard. Seriously, with all the contempt for the “flippers”,America would relish seeing Flipper Casey suffer in each episode. I could see RE investor Casey, hearing through his guru, that a hot pre-foreclosure deal was available in a “hoppin’” Sacramento neighborhood. Casey arranges investor financing (allowing himself a $70K bonus at closing as a finder fee) buys it in his mother-in-laws name after convincing her it’s a steal, only to find out he’s screwed his in-laws (innocently of course- cause nothings ever his fault) with the Burdett house. The laughs would never end..
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ronald
November 29th, 2006 at 10:30 pm

You have got to be freaking kidding me….

I have wondered why you havent been strung up on charges now..I figured because even with the media attention you have gotten so far that the right people havent seen it yet.

Maybe they were turning a blind eye because they dont want the negative publicity….

So I see you came up with an idea…keep pushing and pushing and get more and more national coverage so the lenders have no choice but to take some action and levy charges against you.

It will be worse for them after the cnbc segments airs than it will be if they just hoped it would go away. Now there will be cries from business leaders that normally you flew under the radar from.

Casey, before I thought you were just smacked down for a bit and that you would climb out of it……..Now I see your more interested in publicity than actually solving your problem.

You went and listened to more morons while you fasted for a whopping 12 hours…yes 12 hours..sleeping doesnt count as fasting in my book.

Remember when you are someones fish in cellblock d to practice safe homosexual sex.
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Casey Serin
November 29th, 2006 at 10:43 pm

Hey Big Cheese, thanks for the tips on keeping up my “brand” but this is not going to be a live segment. They crew already have come out to my location and interviewed me a couple of weeks ago. I was wearing some other clothes.

And to answer your question from before - yes I DO like the “Casey Doll” idea. I give you credit for creativity, and to others who came up with the different phrases. That stuff is pretty funny.

Thanks to everybody else for your comments and advice. Last post broke all records on comment activity. I’m thinking of doing a comment rating feature and then have a top-rated comment list.

Again, I make an effort to read all the comments but because of time constrains I’m not able to respond to everybody all the time.

We still have some impostors trying to pretend to be Robert Kiyosaki, myself or my in-laws. I like your creativity but to prevent confusion I will be adding “(fake)” next to the subject.
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speechless
November 29th, 2006 at 10:49 pm

I was getting a bit bored, but now it’s fun again. The Casey trainwreck heads into the mass media. Next thing you know Casey will be partying with Britney, Paris, and Lindsay. They are all trainwrecks yet endlessly fascinating.

Great comments too. Real estate bloggers are by and large a smart bunch.
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Keep Buying
November 29th, 2006 at 11:01 pm

I love this blog! Lets all give some money to this kid to keep this up!!
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Big Cheese
November 29th, 2006 at 11:12 pm

Thanks for responding there Casey. I know you must be pretty busy. Since the segment was pre-recorded, are there any surprises or twists we should be aware of as readers with no other life than being a bit*h to your sweet blog?

Big Cheese
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Time Will Tell (fake)
November 29th, 2006 at 11:15 pm

But what will the real Kiyosaki or Henry Kissinger do when they want to make a statement?
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Big Cheese
November 29th, 2006 at 11:15 pm

To Casey prison in 2008 (Fake),

——-
Nice post but you are missing something criticial here:

“I’m not sure what to do. What do you think?”

Big Cheese
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Sometimes, you just can’t look away. » Wednesday Open Thread
November 29th, 2006 at 11:30 pm

Kramer auto Pingback[…] Trainwrecks favorite Casey now believes that simply borrowing 50k will solve all of his problems (this revelation brought to you by the wonders of the IamFacingForeclosureFast). Apparently Casey is fully aware of how much legal trouble he can get into and he’s so concerned that he’s going to interview this felon to get the lowdown. But that’s only after Casey’s appearance on CNBC tomorrow. I wonder when exactly it will dawn on him that people aren’t interested in his story because they want to help but because it’s good tv to watch someone weave the rope that will be used in their hanging. […]
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Big Baller
November 29th, 2006 at 11:36 pm

Bummer that the segment is already recorded. I was going to request that you turn to the camera at some point, say “It’s a WIN-WIN”, and flash the pearly whites while the camera man rings a bell. You know, as a special shout out to us, your loyal fans, peeps, and homeys.

I like Crashlander’s TV pilot idea. But I think you should also incorporate some of the local comment personalities into the show, kind of like how they incorporated Kramer into Seinfeld. Yneone, PrLinkBiz, Sac Realtor, Tim, etc.

Hey by the way, here’s an idea for a Casey Serin t-shirt: a photo of Casey in his blue shirt sitting on his blue ball, Blackberry or Jamba Juice in hand. At the top it reads
I want to repay every dirty penny I borrowed*
At the bottom it reads
* by borrowing 5 million additional dirty pennies
*
Confused
November 30th, 2006 at 12:00 am

Good evening,

Can someone please explain the difference to me between bird-dogging and prairie-dogging?

Thanks!
*
Horatio
November 30th, 2006 at 12:03 am

Casey,

Maybe you should ask one of these guys for a loan…

www.foundmoneyjar.blogspot.com

www.changequest.blogspot.com

Seems they know something about finding money.

HAHA!

H
*
Alex
November 30th, 2006 at 12:36 am

Seriously, Casey, have you thought about being prosecuted for frauds (which you openly admitted them on the web, media, everywhere)?

Are you worry that in the worst case, a judge can really send you to jail?

When you get more and more famous on public media (not sure if it is a good thing in your case), sooner or later somewhere someone will contact the Government officials to start an investigation on you… Seriously.

Best luck,
*
Big Cheese
November 30th, 2006 at 12:40 am

Confused,

It’s simple: Bird Dogging - 1. To observe or follow closely; monitor: Police bird-dogged the suspect’s movements.
2. To seek out (talent or clients, for example): bird-dogs recruits for the team.

Prarie Dogging- A phenomenon that occurs in cubicle-filled office buildings. Whenever there’s a loud sound or other unusual occurrence, everyone pops up to look over the walls to see what’s happening.

So it’s simple- Casey is bird dogging some pretty sweet deals while you are prarie dogging in your cubicle J.O.B. (aka just over broke) place of employment.

Got it. Or did I loose you?

Big Cheese
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John
November 30th, 2006 at 12:41 am

As a person with fifty g’s, I want to read about the person who loans you fifty g’s. Cuz I wanna figure out what they see in the deal that I don’t. Low risk? High returns? I’m still looking.
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CNBC
November 30th, 2006 at 12:49 am

Casey,

You are either incredibly smart or amazingly stupid.

We will all know in 2 years.

Either you’ll be in jail or you’ll be wealthy.

I hope wealthy but looks like you are going to jail bud.

Any day now you should be getting the FBI call.
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Kay Cee
November 30th, 2006 at 12:53 am

http://www.prosper.com

Your a good fit
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wikifortune.com
November 30th, 2006 at 1:03 am

I hope to see you on National TV.

I’m sure you are strategizing in order to get out of this mess.

Good luck to you Casey.
The best of luck…
You’ll face one heck of a journey ahead of you, but I know that you are strong enough to face it.

You’ve come a long way… more than what many others would’ve done… they would’ve given up.

Don’t give up.

Fight on.
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James Harmston
November 30th, 2006 at 1:57 am

Casey, Casey, Casey.

Do you realise we are heading into a period worse than the great depression? Do you realise Modesto has the third highest foreclosure rate nationally? Do you realise making yourself a poster boy for the RE f*ckup will only lead to a show-trial and boosted jail term?

When this all goes off, there will be people trying to make political capital out of being seen to be taking out the trash. Hapless doofuses such as yourself are their dream ticket.

Seriously, head back to Uzbeckistan and dye your hair or something. Disguise yourself as a Yak, and hope that whatever is left of your lenders when this goes off does not come demanding some of those dollars back. Or Ameros, whatever the legal tender is by then.
*
Sputnik the Cat
November 30th, 2006 at 2:40 am

Can I make a cat food commercial and show it during your MSNBC appearance?

Ack!

S_t_C
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Sputnik the Cat
November 30th, 2006 at 2:53 am

Casey gets arrested?!!? ha! Acckk! Highly unlikely. What he did - although technically illegal - is piss-ant white collar stuff. Kinda like when I get caught scratching the furniture…they say, “Bad Kitty!” but nothing SERIOUS ever happens.

“BAD Casey! BAD!! No fishy treats for you!”

S_t_C
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Take Some Responsibilty
November 30th, 2006 at 3:32 am

An ode to the state of this blog and Casey’s life:

http://youtube.com/watch?v=MpraJYnbVtE
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Crashlander
November 30th, 2006 at 4:53 am

Man that fake letter from jail is FUNNY.

NEXT MONTH ON ‘EVERYONE HATES CASEY’
—————————

EPISODE 5: Casey is desperate to earn money to avoid the F word and takes a job at a chocolate factory with his wife Lucy. Only the chocolate candy conveyor belt goes haywire and they end up making a huge mess. They get fired the first day and owe money to Mr.Wonka for all the wasted chocolate! noooooo (another bill floats onto in the ever growing pile as in every episode on the trailer)

EPISODE 6: After fasting for 3 hours the Casey gets light headed and decides to borrow 50k from local Sacramento mob boss Mr. Soporno who is also a well known ‘rich dad’ in the italiano community. Mr Soporno gives him the money but he has to use Mr.S’s appraiser, his realtor, his mortgage lender, Soporno Title Co., Soporno Escrow Service,Soporno Home Inspections,Inc, Soporno Termite,Soporno Home Staging Co., and Soporno Construction Co. for the upcoming ’sweet deals’. Casey is now commited to flipping 8 more houses in the next 8 months and gets to keep 10% of the gross profit!! There is no signed contract, its based on ‘trust’ so Casey feels good about it. sweeeeet episode, set your tivo now.

EPISODE 7: Casey now has 15 homes and all of them are rented to freshly arrived italian immigrants from sicily but they are all behind on the rent. Mr S won’t give him a break and will break Casey’s legs if the homes go to the F word. Casey has a choice of working as a go-go boy in downtown Sac at the ‘Ding-Dong’ club or his wife has to do it! What will Casey do? What would Jesus do? Will he loose his homes and his life/marriage/good reputation?!?!
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dumb da dum dumb
November 30th, 2006 at 5:17 am

casey!

you should research all the companies and businesses and people you have come across, specifically all the airlines you have been wasting money on, jetsetting to your across the country manage your RE empire…

bankrupcy is a normal business practice
take advantage fool!
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Tom
November 30th, 2006 at 5:22 am

Casey: You should really check out www.prosper.com. It’s a website that allows anyone to post a personal loan, and then anyone else can bid on lending to that individual. i know that for entertainment purposes alone, I would lend you a few bucks, and if you have enough people do that you could hit the 25G max on one loan, and you’d be halfway to Tahiti. Definitely check it out. You’d be a superstar, man!
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dumb da dum dumb
November 30th, 2006 at 6:36 am

so you couldnt finagle the rights to show the video of you own interview, but your hoping someone else will break copyright laws and risk a lawsuit & C/D order so you can get the publicity, by linking to your own “illegal” youtube posting your just as culpable

frankly, im amazed that you havent been asked to remove all the guru links which are embarrassing for these seminar 3rd rate “GRQ”authors

GRQ=get rich quick
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Leroy
November 30th, 2006 at 7:33 am

This web site is a fraud.
*
JTR
November 30th, 2006 at 7:37 am

Okay, this is where I get confused… I thought this was about our hero Casey being 2.2 (or 2.4, or even aspiring to to be 2.45) million in the hole and his battle to recover from the consequences of his actions. Suddenly, those problems seem to have vanished from the radar screen of Casey’s laser-like focus, and we (his loyal audience) instead of having front row seats to the best slow motion train wreck in town are now being treated as nothing more than a fan club.

Casey’s new focus seems to be how to generate as much publicity as possible, rather than how to solve what we all assumed were real financial problems. Am I the only one who wonders why Casey is more focused on self-promotion, and updating his blog than solving his problems? Anyone else feeling duped and used? Guessing this is how Countrywide and all those other (federally insured) lenders are feeling about now.

My biggest question is where do we go to get updates after Casey is arrested, his computer equipment is seized and this site is shut down? Anyone have a link to local jails in Sacramento?
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Wait a Minute
November 30th, 2006 at 8:35 am

JTR,

Simple. Casey is a phony. Remember lonelygirl15?

No one in the real world would still be walking the streets after admitting to fraud on the scale of Casey.

It makes for mediocre entertainment, on the scale of a bad “B’ movie. Notice that the “job” with Dustin the Dork is gone, so is the one with “Chris”. As are anything related to threads over a week old. Gotta keep the new material coming, ya know.

Cmon, I am not going to waste my time exposing his lies and contradictions. Just know that this is satire and you won’t get upset.
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you are crazy!
November 30th, 2006 at 9:20 am

Comments on this blog entry are great. Sputnik, you have not been getting the belly-rubbing that you deserve! Fishy treats for you!

Crashlander! Loving these episodes. How about one where Casey is imprisoned on a street where every house is for sale and having an open house? He is not allowed to leave the house, blog, or make “sweet deals” for 24 hours. Watch him look out the window, talk with his “Maker”, fast, and unravel one blue thread at a time?

Big Cheese–more dry wit! Everyone gets it but Casey!
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Mark Smoler
November 30th, 2006 at 9:24 am

Are you serious?
Just saw your interview on CNBC and checked out your blog. Real Estate investing is a business, not a get-rich-quick scheme! If you have no formal edjucation and and IQ below 90, what makes you think you can make money in real estate (or any other business for that matter).
None of your ‘guru’ self-help tapes are going to help your run a business. Listen to your Anthony Robbins tapes all you want, they won’t help you run a business.
Here’s an idea. Why don’t you actually go to school and learn how to run a business rather than listening to a tape to try some new scheme that will make you quick cash without having to think.

Mark
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That was exciting
November 30th, 2006 at 9:30 am

Great piece of investigative reporting. Glad you got your 15 seconds of face time on national television. They let you off easy.
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Cat
November 30th, 2006 at 9:39 am

I wonder….are any of the lenders holding deeds looking into loan fraud, are they looking into the mortgage broker being involved in the loan fraud? If so, a number of people will go down. As for this site being a fraud….doubt it. Saw it on CNBC this am. Self promotion, yes, but what better way to get those properties looked at? It may have been a fabulous way to get them moved, who knows. As for obtaining the financing on all those properties….with great FICO’s and a little thing called “No Ratio” or “Stated Income”, it’s really quite easy.
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Jobu
November 30th, 2006 at 9:45 am

Think product placement baby, product placement. Cha-ching $$$$$.

Starbucks, Jamba Juice, The Blue Ball, Macaroni Grill, Cotton Dockers, IPods, Laptops, even a few of your lenders might bite.

Bartender, Jobu needs a refill.
*
Romeo
November 30th, 2006 at 10:21 am

Try posting your situation on http://www.BusinessForums.com . Maybe the guys over there can give you some advice.

Hopefully you’ll be getting some donations for your “tip jar” today. I’m sure a lot of people watching CNBC will be visiting your site.
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Silicon Valley Blogger
November 30th, 2006 at 10:45 am

What the heck? Traffic spike is right-on! Anyway, Casey best of luck to you. You’re a national name all of a sudden.
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STOP
November 30th, 2006 at 10:56 am

You guys that think Casey is going to be sent to prison are nuts. This is very small beans in the overall mortgage fraud business.

http://www.latimes.com/busines.....-headlines

IF any of his lenders were to decide to go after him, there really is very little that would be done. He would quite likely end up with home jail or probation. IF EVEN THAT!

Keep making fun of him like this if you want to, but if you are hanging out here to read about his indictment coming down you can stop right now.
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G-man
November 30th, 2006 at 10:57 am

So you’re inviting people to violate copyright and upload a clip because you were specifically denied permission? What happened to turning things around and being ethical?
CNBC didn’t say if it will be posted on their video site (probably why they don’t want you to usurp their traffic by posting it?) or their new site that launches on December 4th? http://www.cnbc.com/

I just saw the clip on CNBC (right before 11AM) and I don’t think they mentioned your domain name. Even if they didn’t, you’ll still probably get traffic since they do say your alias and that you have a blog with “some negative comments”. They’re going to have more about court house auctions so you may want to tune in…
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Doyle Pike
November 30th, 2006 at 11:13 am

I LOVE YOU CASEY!!!!!!!!
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Cedrick Tan
November 30th, 2006 at 11:30 am

If you guys wanna be sucessful in making money. Check out my website.

www.tradewithced.com
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muckdog
November 30th, 2006 at 11:41 am

Interesting spot on CNBC this morning. You’re definitely one of the most public folks in your situation, and it’d be interesting to hear other stories from folks who are going through the same thing. Your idea of How to Go Broke in Real Estate is probably a good book idea, especially if you incorporate interviews with other folks on how their situations evolved.

Cheers!
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UncleC
November 30th, 2006 at 11:51 am

@Casey: To help keep your loyal fan base up to speed, please update each of your remaining house listings with their foreclosure status. For example, update the arrears amounts and add the NOD date(s) and estimated Sheriff’s auction dates. Also, please re-post those Wells acct pics — they were terrific. Maybe even give them their own space under the house listings? And finally, if you would add a “running debt total” box, it would be great!
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Uzbecky
November 30th, 2006 at 11:58 am

Anyone catch the show?

I had a hangover, so no. :(
*
GaGa
November 30th, 2006 at 12:31 pm

JTR: No, I am also confused by all the focus, time and energy Casey is spending blogging & publicizing. He’s either incredibly unfocused, stupid, or has another agenda that he is forwarding.
*
SayWhat?
November 30th, 2006 at 1:49 pm

NEXT MONTH ON ‘EVERYONE HATES CASEY’

—————————

EPISODE 8: Casey learns an important lesson in life when he spills some Jamba Juice on his khaki pants. He goes to the Gap to buy another pair and discovers his credit has been denied! Wackiness continues as he tries to wash his pants himself before his wife returns from class (”She must never find out I’m fallible! Never!”) but he washes them with his blue shirts and a gallon of bleach ruining them all. His problems are solved as he goes back to the Gap and shoplifts everything he wants, promising to himself to pay it back when he figures out a way to do this. But how can a poor immigrant boy earn that much money in such a cruel unfair world? Might he be forced to get a job? Just before he almost expresses what we humans call regret, his view of a fair and just world is restored when a bag containing $50,000 falls out of a bank truck. What will Casey do? Why am I asking this question?

EPISODE 9: Casey attempts to find out who the $50,000 rightfully belongs to because that is the right thing to do. This investigation is put on hold as he first needs to figure out how to repay “every dirty dollar” he already spent of it if he does find the owner. His first order of business is spending the day at Starbucks taking 10 minute fasts between $5 cups of coffee searching the Internet on his $5,000 WiFi laptop. Then a brilliant idea: perhaps he could *sell* the empty bag itself on the Internet for $50,000. After all, it *did* once have $50,000 in it so that’s its actual worth. And $50,000 a lot of money to those slaves with 9-5 jobs. Perhaps he could sell it for *more* than $50K, then he could pocket the extra cash! If only he had enough money to market the bag properly. Wait, there’s a lot of money in the cash drawer over there. Will Casey be able to distract the teenage girl behind the counter long enough? And if he does, will he find a way to repay every dirty dollar he “borrowed” from Starbucks?

Let’s keep going until we have a whole season. I’m sure Casey will supply more material.
*
Unbelievable
November 30th, 2006 at 2:06 pm

So who saw Casey on CNBC this morning ? Anyone ? Care to critique ? I missed it (had to work).
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Report Fraud
November 30th, 2006 at 2:45 pm

“Everyone who posts says Casey is a criminal, but why exactly hasn’t any sort of authority come after him?”

Give it time. Right now, it would be a terrible mistake for the DA to go after Casey with so many homes in limbo. Casey could blame the DA for his failures.

Once the dust settles which is only a matter of time, you will see some action.

If I was Casey, I would drag this “situation” forever to keep them at bay.
*
Cara
November 30th, 2006 at 3:12 pm

Free Advice, this guy most certainly IS as bad as any other white-collar criminal. Surely your moral relativism can tell the difference between someone who gets a little cash from Mom to help with a down payment for a house and a guy who lies on eight different loan applications.

Most of us are disgusted by the ATTITUDE that, not only is he entitled to get loans under false pretenses, but that he’s entitled to stay out of jail when he can’t make good on them because…well, still can’t figure that one out. He just IS entitled, dammit, because he’s special. I guess sheer colossal GALL is enough to make one special these days.
*
Jim
November 30th, 2006 at 3:45 pm

I second the idea to have a “Casey’s Debt Ticker” kind of like the National Debt ticker in Manhattan… it could tick up 48 cents every minute (i.e. $700 per day). That’d be great! If you could compute the realtime increase in overall indebtedness on a per-house basis, that would be even better (and don’t forget to add in unpaid taxes and builder’s liens as they come in).

I guess now that the Dallas house has been foreclosed on, Casey’s outstanding debt is only about $2 million instead of $2.2 million… but its still a big, juicy number that we can all stand in awe of.
*
briguy
November 30th, 2006 at 3:50 pm

I Tivo’d CNBC from 7am-noon. I found the few minute long piece at 7:55am, but given how much of a dud it was, I’m not interested in fast forwarding through the other shows to see if there is anything else (I didn’t hear Casey mentioned on the segment on foreclosure sales during Power Lunch).

Casey did get off light … there was a reference to admitting to “fudgging on loan applications”, but that was it. Based on Casey’s comment in the piece, it was recorded the day after the Dallas house foreclosed.

It was a very ho-hum piece, and was more background for the later piece on increased foreclosures than anything else. The website URL was mentioned, but I can’t see many people being motivated to go check it out.
*
Casey Serin
November 30th, 2006 at 3:57 pm

Not much of a traffic spike…
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Ken
November 30th, 2006 at 4:14 pm

Good, serves you right slacker.
*
TOo FUnNy
November 30th, 2006 at 5:05 pm

cASEY,

i SEE tHAT yOUR nEXt aPPEArance is on “COPS”.
*
Free Advice
November 30th, 2006 at 5:15 pm

Free Advice, this guy most certainly IS as bad as any other white-collar criminal. Surely your moral relativism can tell the difference between someone who gets a little cash from Mom to help with a down payment for a house and a guy who lies on eight different loan applications.

Most of us are disgusted by the ATTITUDE that, not only is he entitled to get loans under false pretenses, but that he’s entitled to stay out of jail when he can’t make good on them because…well, still can’t figure that one out. He just IS entitled, dammit, because he’s special. I guess sheer colossal GALL is enough to make one special these days.

I guess Casey’s “gall” pisses you off. That’s okay. You’re “entitled.”

But I can’t seem to find where Casey is trying to stay out of jail because of a sense of entitlement. I think what he’s trying to do is avoid bankruptcy and foreclosure, but for the wrong reasons.

I’ve pointed out several times that his lenders may actually PREFER he file a bankruptcy petition. Portfolio managers often want to get losing investments off their books rather than drag stuff out. They can haul him into bankruptcy court, but it’s cheaper if he hauls himself into court.

I’ve advised Casey that he should actually ASK his lenders what THEY prefer. I’m not sure, but I suspect that the reason he doesn’t is that he considers bankruptcy something to be ashamed of — and that suffering that shame would be so overwhelming as to ruin his entire life. To me, that’s just plain warped.

And just curious, if Casey is as “bad as any other white collar criminal,” does that mean he’s better or worse than a “blue collar criminal”?
*
Joey Bobo
November 30th, 2006 at 5:18 pm

Casey, why don’t you try to get on Oprah?

You would be perfect for her show, with your “Aw, shucks” puppy dog look.

Go there admitting you did wrong, you didn’t mean to hurt anyone, and how it’s affecting your family. All you wanted to do was provide for your lovely wife. Shed a little tear with Oprah.

America’s suburban middle class housewifes will EAT IT UP. Your tip jar will overflow with cash after that.

You really would be perfect for Oprah.
*
Robert Coté
November 30th, 2006 at 5:46 pm

Not much traffic spike? Gawds, the click trough to my POS blog is 50% from this thread alone today and just today.
*
Another Sactown Agent
November 30th, 2006 at 7:30 pm

Hey Casey, why should there have been much of a spike on your website? Those individuals watching CNBC are already aware that there are some issues with the housing market. They don’t need to go to a blog by someone who got themselves in over their head.

That being said, I’ve got to admire your ability to get yourself all of this insane publicity. I don’t really believe it will help you with the selling of your properties. There’s no reason for anyone to pay anything near what you pay for them. A property or two may get a short sale deal worked out but it’s still going to leave you short.

Good luck. And maybe I’ll meet you at 720 Ninth Street in another month or two.
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yneone
November 30th, 2006 at 8:12 pm

I’ve written OPRAH and will write again. I think Casey is a good fit for that show; that, and Maury Povich. I’m planning to write another round of emails to those shows by Friday. CNBC didnt quite cut the mustard. Hang tough, Casey.
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Big Cheese
November 30th, 2006 at 8:35 pm

Casey,

The idea of you getting Oprah is very good. You should check into that if you have time in your busy schedule (no sarcasm on this point.)

I like the idea of the debt / negative net worth tracker and it would be very easy to do this as a counter tracker on your site page. Basically estimate the amount of negative net worth you have today (say $400K for the sake of argument) and then increase by your known interest liabilities you are incurring on average each month. Say this is 20K a month, this would then translate to about $630 each day or $25 per hour. Your tracker can update every 5 seconds by about 4 cents or so.

Now you don’t have to be exact. After all this would be tougher than managing your Wells Fargo account and saving the $33 on overdraft is more important anyway. By the way, how is that coming along… please don’t say you continue to get hit with these fees.

Anyway the counter would be informative and give the ‘haters’ something to mull over. And probably drive more traffic… all good things, right?

Big Cheese
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Me
November 30th, 2006 at 8:47 pm

The clickthrough to my site was less than when I first posted the Casey anti-meme link, about 100 IPs today versus almost 300 a couple of weeks ago. I did get more clicks per IP, perhaps double, but still not what you’d expect from a “national broadcast”.

Check Alexa.com in two days. I don’t think this spike will reach the peak of early October, perhaps not even the secondary peak of mid-November.

http://traffic.alexa.com/graph.....&w=700

I think the public is tiring of real estate crash news now that real pain has is seeping in.
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Big Cheese
November 30th, 2006 at 9:44 pm

Can someone (anyone) post a transcript of the CNBC bit or a link to the segment?

Many thanks,

Big Cheese
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Jerry
December 1st, 2006 at 2:09 am

People, Casey may be a dishonest lazy crook who swindled banks and can’t spell ‘lose’… but you gotta give him some credit for what he’s been able to do with this blog and the entertaining stories. I for one think he definitely he’s going to have a great future in sales. I don’t know why there are so many people still giving him RE advice. It’s clear to everyone, even to the people giving advice, that he can’t dig his way out of the hole with more RE deals. It’s gotta be something that come out of this blog…
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Jobu
December 1st, 2006 at 9:14 am

You are aiming too low with Oprah. Saturday Night Live guest host should be the target. Casey could do a little opening bit, and of course, wearing the trademark khakis and blue shirt. Think of the possibilities for skits - A coffeehouse, the blue ball, on and on. How about a weekend update interview as parody to CNBC with Casey playing himself. Then the ultimate, Casey doing a parody of a guru RE investment seminar.

SNL cast members make up the audience. Our young hero RUNS onstage to thunderous cheers.
Casey: Welcome everyone, who’s ready to do some sweet deals? I can’t hear you. Who is ready to do some sweeeeeeet real estate deals?

The crowd erupts. Casey runs around the stage pumping up the innocent deer who await their fate. He points at the screen behind him and clicks his remote.

A single wide trailer shows on screen.

Casey: Who wants to live in this house? Who wants to buy this house?
Crowd: Booooooooooooo!
Casey: I don’t either. But let me tell you what’s inside that house. Pure gold. No, there are not real gold bars in there. It’s a little thing I like to call cash out.
The crowd roars.
Casey reaches behind a podium and pulls out a hammer.
Casey: Who can tell me what this is?
Man in Crowd: A hammer.
Casey: True, but it’s not just a hammer. It’s the key to unlock the gold. I like to call it my sweet deal tool kit.
He clicks his remote. A gleaming version of the Taj Mahal shows on screen.
Casey: With this hammer, I turned that dump into this majestic castle. In FOUR days.
The crowd roars. Another click of the remote. A huge pile of cash.
He reaches behind the podium and pulls out a Starbucks.
Casey: You can buy a lot of these with that kind of sweet deal.
Click of the remote. Several hot strippers on screen.
Casey: And a lot of these.
More remote clicks. A homeless guy sitting in his new mercedes. A dog sitting in a fancy dog house.
Casey: Even a dog can do it.
Lady in the crowd: You are a fake. You ripped off my grandma with this trash.
She pulls a gun.
At that minute, the Feds bust in, guns blazing. Our hero is mowed down on stage.

Flash to Casey in a Limo: That should get the blog traffic going again.
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Boise Real Estate
December 1st, 2006 at 9:27 am

Boise Idaho real estate market is still doing good, maybe you should dump Sac town and head on up:

http://www.boiserealestatenews.com/
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Nobody
December 1st, 2006 at 11:41 am

Free Advice said:
I’m not sure, but I suspect that the reason he (Casey) doesn’t is that he considers bankruptcy something to be ashamed of — and that suffering that shame would be so overwhelming as to ruin his entire life. To me, that’s just plain warped.

I reply:
I don’t think Casey has a sense of shame.

Nothing I have seen indicates this, at any point in time.

I think he is an extremely skillful manipulator.

Why else have a as his headline an interview with a “white collar” criminal who has “gone straight,” and wants to share his story. I see this now as an exercise in Creative Marketing - I suspect Casey lives in a world where nothing is REALLY BAD until they throw the cuffs on you, and not even then, in some cases.

I think PRLINKBIZ saw SOMETHING, when she met him, that we haven’t, and she reacted accordingly; make the deal, cut your risk, limit your exposure.

I think I see it, too, all too clearly.

I’m out of here.
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Wealthyboomer
December 1st, 2006 at 2:52 pm

Can you handle 9 years of zero appreciation? Keep reading…

In California, prices have soared so high only 15% of the people can afford a typical middle-class house. You have to make about $135,000 a year to afford an “average” house.

The rest of the country isn’t that far out of whack, but it’s bad enough. The only way to bring things into line is for incomes to go up or home prices to come down or some combination of the two.

15% decline over three years…

Barron’s reports, “Such levels of overvaluation are typically followed by price declines of about 15% that take an average of three years to unfold.”

12 years…

The Economist, the respected British magazine, says “Home priceswould need to remain flat for over 10 years to bring America’s ratio of house prices to rents back to its long-term norm.”

Five years, 20% price drop…

Some economists are saying that the coming rebalancing period could last half a decade because it would require a 20% correction nationally…

10-15% drop in the next 12 months…

“One likely scenario is that housing prices would drop 10undefined15% in the bubble zone over the next 12 months, then remain flat for maybe four more years while incomes catch up,” says Fortune senior writer Shawn Tully. “And in some places, appreciation has been so sharp that a seller could see prices plunge 30%…”

Five years, 25% drop…

The Weekly Standard says prices in the Washington, D.C., area would have to drop 25% to return to a normal price/income ratio within the next five years. And that’s if personal income continues to grow at a smart 5% rate. In other words, if there’s no recession.

Prices down 25% in Washington? Crazy? Impossible?

Don’t kid yourself. It’s happened before. Listen to this report from D.C.’s Virginia suburbs: “My wife and I bought a home here in Virginia in 1998 for the same price the previous owners had paid way back in 1989. That’s nine years of zero appreciation.”
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Free Advice
December 1st, 2006 at 4:27 pm

Don’t kid yourself. It’s happened before. Listen to this report from D.C.’s Virginia suburbs: “My wife and I bought a home here in Virginia in 1998 for the same price the previous owners had paid way back in 1989. That’s nine years of zero appreciation.”

I bought a home in a similar place at a similar time, but sold in ‘02.

Average appreciation from 1989 to 1998 - 0 percent (I guess)

Average appreciation from 1989 to 2002 - about 3.5 percent.

Average yield on my original downpayment - about 9.75 percent.
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anne teters
December 2nd, 2006 at 1:32 am

What a weird spectacle. My boyfriend occasionally updates me on this person’s exploits in the world. Most recently this is an update on his sleeping habits. I can’t decide if this dude is a more sorry individual or my boyfriend who finds the comments made by everyone so engrossing. What a waste of time!