Thanks to John Lobertini for a last minute interview yesterday about my story of getting over leveraged and facing foreclosure. The story aired tonight on Channel 5 CBS in San Francisco. Here is the link to the foreclosure segment.
Also, thanks to Noelle Knox for mentioning me in USA Today article Homeowners stuck as lenders cinch standards. (Also see my original USA Today feature story)
Hopefully my foreclosure stories and this blog can help homeowners and over-leveraged real estate investors by showing them what works and doesn’t work in situation like this.
If you are facing foreclosure: feel free to email me and I’ll try to help with advice and/or referrals, although I may be slow to respond because of the volume of email I get every day.
121 Comments
March 7th, 2007 at 9:08 pm
Casey…the new Untouchable!
March 7th, 2007 at 9:12 pm
I used to think you’re enough of a hustler to pull this off. But you’re too young to see the difference between dreams and goals.
BTW, what concrete result emerged from the “business” trip to Utah. What did you feel you had accomplished on the day you treated yourself to the seafood dinner?
March 7th, 2007 at 9:13 pm
Casey
Reporter from Channel 5 said
Everyone was in mortgage trouble
Cause of people like you
Just keep believing!
Nigel can help you get that house
You will have a resort lifestyle
X-country skiing, golf, hiking, etc
Please update us on the interview from tv
Before you know it, you will have more exposure from newpapers,
Zines, radio, etc
Very good time to ’step up’ to the next level
And finally, have you heard from First Magnus?
Thanks for all your updates
March 7th, 2007 at 9:16 pm
Kid;
“feel free to email me and I’ll try to help with advice and/or referrals, although I may be slow to respond because of the volume of email I get every day.”
You’re a card, little hobbit!
Would you refer anyone to get a job?
If CashCall Collections called you, what advice would you offer to them?
Now you’re a tee-vee “poster child”…that carries a very negative connotation in America, Casey-lad.
That’s not something you want to be, kiddo, teevee is a very powerful motivational tool, usually for the negative.
There’s a guy in a bar who has been turned down x many times for a mortgage, and sees your little mug on the screen, listens to the story.
Chap gets p.o.’d and calls his politician to b**** about you.
Politician whines to the Feds about you.
And thusly do “poster children” become “Examples”
anti-spam word: itsallgood
March 7th, 2007 at 9:18 pm
I must have too much time on my hands to get the first posters slot!
Casey, this clip was just over the top - even for you! Just because many people did it does NOT make it ok, but those other people are not going on TV saying they broke the law.
Agent #777
March 7th, 2007 at 9:18 pm
Before everyone comes along with their regular hate messages, maybe you should all be sending that hate to the justice system. He’s on the news, in magazines, and no one has come along to arrest him for loan fraud?
This isn’t Casey’s fault.. nooooo.. its the fault of a legal system that dosen’t work.
March 7th, 2007 at 9:24 pm
Make sure to tell everyone how you applied for loans simultaneously so each lender thought you were only going to hold one loan. Otherwise it looks like you’re just a poor loser who got stiffed, whereas we know you’re a smart cookie who carefully defrauded the lenders.
March 7th, 2007 at 9:27 pm
Tibetan Monk say:
Casey thank people when expose his stupidity.
Casey capitalize on only asset.
America become backward place.
March 7th, 2007 at 9:36 pm
them calling you a “man” is quite generous, in my opinion.
March 7th, 2007 at 9:39 pm
you realize you basically just said “I dare you” to the FBI, right?
March 7th, 2007 at 9:56 pm
Wow, dude… you’ve got some serious cojones going on TV, CBS News nonetheless, and admit that you broke the law on multiple occasions. I also liked when the reporter stated that you bought all these houses while making $50K/yr, which everyone here knows is not true.
I think you’ve got a couple of months left until you’re appearing on CBS News again — in handcuffs, with your attorney in tow. Good luck with all that, Gaysey…
March 7th, 2007 at 10:02 pm
Casey said “what FBI? no conern of me, they can’t catch me anyway.”
SWEET~~~
March 7th, 2007 at 10:10 pm
I couldn’t resist posting to this thread; My anti spam word is “sweet”. lol
March 7th, 2007 at 10:21 pm
I’m new here, but I gotta admit: this is fascinating and a lot of fun to read. Casey, you’ve got a gift, but it’s probably not real estate. Judging from the traffic on this site, the media coverage, and the way you instigate angry commentary from your fans, you’re an excellent entertainer/self-promoter.
You could maybe do a book, and I’m a little surprised no agent or editor has contacted you about this possibility. You should hurry, though. Books usually take a year or more to get into print, and you need to capitalize on all this infamy before it goes away.
March 7th, 2007 at 10:25 pm
Ya, I wonder why they didn’t mention that you quit your job?
March 7th, 2007 at 10:26 pm
I thought you said you made 35K/year. How come it went up? Trying to look like a hotshot I see.
March 7th, 2007 at 10:28 pm
Oh man, Casey, do you have any shame? No one is going to bail you out, and besides, what exactly *did* you do on your trip?
Thought you’d said you’d be honest?
March 7th, 2007 at 10:37 pm
Ok, confession time: Casey, you win. I’m back to post and said I would not be. No, this is not a SUCCESS. I have failed in my meager resolution to stay away from this black-hole of a website.
Quick tidbit, folks: When CS says “success”, what he means in normal-speak is that nothing tragically, moronically, delusionally, unbelievably, comedically, life changing/altering/ruining occurred. So in essence, he went out of state, did not (seemingly) worsen his situation and came back alive and in one piece. SUCCESS!
I am now off to eat something salty…mmmmmmmmm…
March 7th, 2007 at 10:40 pm
#16. Beady Eye Guy…
I was making 35K as a W2 web developer when I bought my Salmon Falls Dr condo back when I was 19.
I was making 50K as a W2 web developer / programmer when I started buying investment properties in late 2005.
After buying and selling the Calla Way house, I quit my job in Jan 2006 and become a full-time real estate investor.
March 7th, 2007 at 10:46 pm
Wow, TV fame! You are indeed gifted - way to go!
March 7th, 2007 at 10:46 pm
Did the reporter really say: “3% cash back is the maximum under California law, but Casey always got more: (Casey speaks:) “I had to do it, either, under the table, sort to speak, side contract with the seller, or do it through a third party…” ”
Wow. You ARE getting the advice of a lawyer before saying these things on camera, right?
Anti-spam: leverage!
March 7th, 2007 at 10:50 pm
Liar Liar:
So, you let the news reporter say your qualified for the loans “while working at a job making $50K” a year….. When we know from your admission on this blog that you quit your job and had NO INCOME when you filled out your loan apps.
Why don’t you make sure when a reporter is interviewing you and you are being quoted that you are more honest about the lies (i.e., owner occupancy, simultanous closing dates).
Stop the self promotion and chasing down sweet deals with “partners.”
Get focused on finding gainful employment, paying for rent and taking care of your debts.
Do it now.
March 7th, 2007 at 10:56 pm
Hi Casey,
The animosity others are spewing towards you reminds me quite a bit about how others used to hate Donald Trump pre-Apprentice. All the haters were quick to put him down for filing bankruptcy, but were secretly jealous of all the attention and hot girls he got. Keep up the good work!
March 7th, 2007 at 11:03 pm
Casey — the tv interview looks like you need some dental work. You can probably get free dental work in your area if you look for it. Dental schools usually have a free program.
good luck!
March 7th, 2007 at 11:04 pm
What’s with these idiots quoting each anti-spam word here in the comments? It should be clear to you all by now that those words are on purpose something like “awesome”, “sweet”, “deals”, “Jambajuice”, “dirtypenny” or similar. It’s not a godly intervention that your anti-spam word happened to be like that, those words were picked by the blog owner! So there, no you don’t have to waste my bandwidth quoting them anymore…
…as to the blog entry itself, I would say you’re on your way with my plan for you; make yourself known to the big public with stunts like this and pull off something absolutely crazy to top the story off before you go to jail, and Spielberg will make a movie, and you will score some sweet dough! Hmm… Does this make me a hater or a cheerleader? Perhaps a realist-cheerleader?
March 7th, 2007 at 11:06 pm
OMG,
You state you are a W2 web developer/programmer?
So:
You have a blog.
You have a MySpace.
You use Flickr.
Web 2.0 at it’s best.
I sort of puke over the concept that you actually think you have any web skills. I don’t have an active blog, I don’t have a MySpace, I don’t have a Flickr account, yet i make a good amount of money from the internet.
Maybe that’s because my users actually find value in what I provide.
Hater traffic is never going to make you any money. I’d suggest taking the Jamba Juice job but I don’t know that they’d want you anywhere near the cash register.
A night custodian gig could work for you. That way you could dress up and do “meetings” during the day.
March 7th, 2007 at 11:06 pm
And Casey Serin moves from the web to the tv….just a few steps away from that movie deal!! (Sweet)
About the offer to help out others…its great to see you giving something back
March 7th, 2007 at 11:18 pm
Casey, STOP saying you were a real estate investor. You were NEVER a real estate investor. What did you invest? You didn’t invest any time, effort, or assets of your own. You spent other people’s money.
You didn’t attempt to improve the properties and you didn’t put the cash-back you got into the properties. You spent it all - more than $120, right?
At best you were a speculator.
March 8th, 2007 at 12:31 am
Oh my young “Serendipity” where shall I begin. In order to save you some time I have made a couple of calculations to get you back in the saddle again!
1. Lets say you begin working a normal job like lets say the daytime shift at Jamba Juice making $5.15 an hour. $500,000 divided by $5.15= 97,088 Hours working at Jamba Juice without any taxation from Uncle Sam. That’s 4045 solid days of working non-stop 24 hours a day. Now I now what you’re all thinking, ONE man can’t work 24 hours a day for 11 Years. That’s correct, It would more likely take you 33 Years of working 8 hours a day, 7 days a week, without a single dime spent on anything. This seems like the winning plan CASE, by age 57 you’ll be dept free.
March 8th, 2007 at 12:34 am
T. ime has
R. un
O. ut for “Mr. Big stuff” and his
L. iar
L. oans
March 8th, 2007 at 1:05 am
Watched the video. No offense, but you do mumble a lot when you talk. I hope you aren’t planning to become an actor or anything. You look like a deer in headlights.
March 8th, 2007 at 1:25 am
Casey, did you recently get some dental work done?
In the interview it looks like someone popped you a smart one across the right side of your mouth.
March 8th, 2007 at 2:48 am
Hey, Under-30s Crowd, Have You Overdosed on Narcissism?
By Clayton Collins, Christian Science Monitor. Posted March 6, 2007.
A new study points to disturbing data about Generation Y’s supposed lack of empathy, aggressive behavior and inability to form relationships.
But over the past few decades the prevailing disposition among college students — today labeled Generation Y or Millennials — has slid into full-blown narcissism, according to a study released this week.
The “all about me” shift means much more than lots of traffic at self-revelatory Web sites such as YouTube and Facebook. It points, says the study’s author, to a generation’s lack of empathy, its inability to form relationships — and worse.
“Research shows [narcissists] are aggressive when they have been insulted or threatened,” says Jean Twenge, a psychology professor at San Diego State University and lead author of the report, called “Egos Inflating Over Time.” “They tend to have problems with impulse control, so that means they’re more likely to, for example, be pathological gamblers [or] commit white-collar crimes.”
For some, the study validates their suspicions of educational and parenting techniques that put undue emphasis on the positive: tot-level self-esteem boosterism, luxury-as-necessity entitlement, and what one calls “instant fame-ification.”
More at http://www.alternet.org/story/48834/
March 8th, 2007 at 2:48 am
Anti-Spam word - DEALS
Casey says:
“I quit my job in Jan 2006 and become a full-time real estate investor”
You became a lot of things but an investor is NOT one of those things
March 8th, 2007 at 3:34 am
hey! it looks like your 15 minutes have just caught a second wind…
now if you would just stop blogging and start attending to the situation at hand…
March 8th, 2007 at 4:00 am
Our Hero, Casey Serin, #13 Google result for “CashCall”.
Those names again - Casey Serin and CashCall.
March 8th, 2007 at 4:01 am
Enough of your “sweet deals” already. What is this Utah trip? To go out and meet another “real estate guru” huckster? Did you decide that you haven’t lost enough money?
Boy, I hate to tell you this but you are done with real estate. When the market was hot, flipping was still a big risk but it was possible to make some money. You were behind the curve when you bought all of your properties. Now, flipping is suicidal. Houses don’t appreciate fast enough, construction materials are expensive, and buyers take too long to bite. And you’re looking at doing it again? In Utah? Are you insane? You do realize that a couple of years ago Centex shut down all of their projects in Utah pretty much in the middle of construction, pulled up their stakes, and left, right? I know this because they canceled a contract on me for a new (long term) investment property in Spanish Fork. If that isn’t a testament to what a crappy home buyer’s market Utah is, I don’t know what is. Even if there were some markets left where flipping was viable, it sure as hell wouldn’t be Utah. Where do you find these real estate punks, man? You realize they’re all a bunch of filthy liars who flash the green to sucker you into their trap, right?
With that said, no one (reputable) is going to lend you money at this point. Your credit rating is toast, your debt is climbing up so fast you might as well be financing a South American conflict, and lenders have tightened their credit criteria. I heard you had some fantasy about creating a corporation and pulling credit out of that. Forget it. Do you really think no one’s tried that before? Banks won’t extend credit to a corp unless they’ve been in business for a certain amount of time and already have good credit. That’s to counter precisely what you are trying to do. If they were to lend to the corp, they’d require your personal guarantee on the loan - Which isn’t worth much at this point.
It’s been said before - File BK, get a job, start paying off any left over debts, and stay the hell away from real estate - at least until you figure out that there’s no such thing as a quick buck. For now, your reality distortion field is just too strong for you to be a wise investor.
March 8th, 2007 at 4:12 am
“I was making 50K as a W2 web developer / programmer when I started buying investment properties in late 2005.
After buying and selling the Calla Way house, I quit my job in Jan 2006 and become a full-time real estate investor. ”
Smart career move! Just brilliant!
March 8th, 2007 at 4:26 am
Casey - You are NOT a victim!!!
March 8th, 2007 at 4:37 am
“…After buying and selling the Calla Way house, I quit my job in Jan 2006 and become a full-time real estate investor. ..”
That’s your story and your stick’n too it
antispam “itsallgood”
March 8th, 2007 at 4:37 am
antispam “winwin”
March 8th, 2007 at 4:38 am
antispam “sweet”
you need to expand your vocabulary
March 8th, 2007 at 4:53 am
Why were you looking in the closets and inside the dishwasher?
Did the homeless guy leave his dirty dishes again??
Leave some milk and cookies next time and he’ll wash the dishes before you arrive for your next inspection.
Maybe he can grow wheatgrass in the backyard and froth you up a glass when you pass thru town. It will get you all juiced up for the seafood buffet with Nigel.
March 8th, 2007 at 5:15 am
After buying and selling the Calla Way house, I quit my job in Jan 2006 and become a full-time real estate investor.
“After buying and selling the Calla Way house, I quit my job in Jan 2006 and become a full-time real estate speculator.”
ASW: equity
March 8th, 2007 at 5:34 am
Please stop calling yourself a “real estate investor”. I am a real estate investor, and here’s the difference between me and you:
1. I do not defraud my lenders.
2. I make money, not lose it.
3. I can plan and execute a full day of productive work.
4. I do not carry a murse.
5. I do not highlight my hair. Women and actors do that.
6. I have an employee who gets paid every Friday. I also insure her, contribute to her investments and pay the taxes associated with her employment.
7. I have not been advised to seek minimum wage employment in 29 years.
Your trolling and agonizingly blithe attitude toward the disaster you’ve created for yourself indicate no remorse for the damage you’ve done. Talk all you want, but it seems that what little “work” you do is with the sole aim of garnering more media attention for yourself.
Narcissist. Girly-man.
March 8th, 2007 at 5:40 am
You seriously rewrite your own history to fit the image you want to project don’t you? Nothing wrong with that, many people do it. BUT do you honestly believe the revisions you come up with for yourself?? On this blog you want to come off as a struggling “businessman”, and fail. On tv you try to project the image of “victim of the system”, and fail. Christ boy ! !! Have you ever honestly succeeded in ANYTHING on your own ? ? ? I mean a success where other people said “good job”. I would pay money to see the self-image you have. “Donald Trump Jr, just going through a rough time is what I bet you THINK you are.”
Damn, sc itsallgood. NO ITS NOT CASEY!!!
March 8th, 2007 at 5:54 am
# 16.
While Casey might do well as an entertainer/self-promoter, it is illegal to profit from criminal activities. Please refer to teh son of sam case for more information. What Casey has admitted to doing is illegal and therefore he can’t publish a book about it. However with the speed at which anyone is pushing charges, Casey will be collecting Social Security before anyone charges him with anything.
Oh and Casey, I am 22 with a job that only pays $28,000 BEFORE taxes, and I have managed in the past year to collect 4 multi-family dwellings all with positive cash flow. Guess what I only spent $40 buying books from Barnes and Noble. If you think high proce gurus are the way to go, ask yourself this, if it is soooooo easy to make a fourtune using thier “techniques” then why are they wasting time with expos?
Just some food for thought from a “Hater”
March 8th, 2007 at 6:25 am
from the report : “Even though Casey Serin is half a million dollars in debt, he says he is not facing any criminal or civil legal action.”
That’s a bold statement, mate.
March 8th, 2007 at 6:28 am
“Casey said “what FBI? no conern of me, they can’t catch me anyway.”
Casey, did you actually say this on tv? Or did some hater make it up?
March 8th, 2007 at 6:37 am
Is this what you “good things are coming” was all about?
Wow, you’re famous. Congratulations bro!
March 8th, 2007 at 7:13 am
Casey,
Please stop blaming this situation on the fact that it was “so easy” to get the loans. People like you are determined, and I have no doubt you would have “stretched” the truth even more to get the deal done, had there not been liar loans. Look man, you messed up, plain and simple. I am so sick of seeing you on these programs talking about “liar loans”. That is not what got you in trouble. Your inexperience with real estate and utter greed is what got you in trouble. Man, own up to this and move forward. Stop letting programs like this justify what you have done. They are just trying to get ratings and using you for the exposure. By the way, as these laws tighten, the tables will turn from the lenders to the actual people committing the fraud. When that day comes, there will be some arrests. Trust me!
March 8th, 2007 at 7:35 am
#
19. Casey Serin
March 7th, 2007 at 10:40 pm
#16. Beady Eye Guy…
I was making 35K as a W2 web developer when I bought my Salmon Falls Dr condo back when I was 19.
I was making 50K as a W2 web developer / programmer when I started buying investment properties in late 2005.
After buying and selling the Calla Way house, I quit my job in Jan 2006 and become a full-time real estate investor.
Right there we have it. Snowflake admits that he was unemployed when he applied for (and got) all of the loans to buy the eight houses. If this fraud is not prosecuted then our justice system is not doing its job.
March 8th, 2007 at 11:26 am
Shouldn’t you be getting a job before doing *more* interviews? Chances are, you’re not being paid to put your mug on TV. And, by the way, how many “blessings” are you getting for your 10% tithe anyway?
March 8th, 2007 at 11:48 am
why did you lie to the news guys? Buying 8 houses on a 50k income? More like buying 1 house on a 50k income and buying 7 more with none (any lying about it to boot). am i rite?
March 8th, 2007 at 11:57 am
“Hopefully my foreclosure stories and this blog can help homeowners and over-leveraged real estate investors by showing them what works and doesn’t work in situation like this.”
How well has lazy, amature fumbling worked so far?
March 8th, 2007 at 3:20 pm
So now you’re just a victim of ‘over-leverage’. Seems that your new partner, ‘G’, convinced you to do some more revisionist history writing. Unf&*#ingbelievable. And stop with the offers of help or assistance to others that may be in danger of foreclosure. You don’t need to do any bird-dogging for those foreclosure vultures. You’ve really got no moral compass. Lie, cheat, mislead, misstate are all part of your daily existence.
March 8th, 2007 at 3:30 pm
If anyone in the SFO area managed to record it, could you post on Youtube?
March 8th, 2007 at 3:59 pm
Casey… They didn’t mention iamfacingforeclosure.com on the news coverage… How could you let them getting with that?
March 8th, 2007 at 3:59 pm
Tell us about your SWEET deals in Utah!!
March 8th, 2007 at 4:05 pm
You inferred that you were still employed when you bought the houses. You weren’t and we’re not idiots.
…and about that Utah payment?
March 8th, 2007 at 4:23 pm
This was great. I love how the newscaster pointed out at the end that you hadn’t been charged with anything, as if she were — like most of the people who read this blog — disgusted with that fact. I know I am. I think it’s only a matter of time, now. Do be so kind as to blog on your prison experiences if you get the chance, won’t you?
Out of curiousity, what kind of advice do you have to offer people facing foreclosure? Do you tell them to ruin their spouse’s credit, too? To get CashCall loans and then default, thereby subjecting their friends to harassment from CC’s collection department? And of course — don’t get a job by any means.
Wow. Great advice.
I hope your cellmate thinks you’ve got a “real pretty mouth”.
March 8th, 2007 at 4:25 pm
casey, can you please tell all of us how did you manage to pay for your trip?
March 8th, 2007 at 4:38 pm
“I’ll try to help with advice and/or referrals”
Um, yeah. I’m sure your “advice” will be in high demand…as a contrary indicator.
Kid, you can’t even accomplish basic tasks…changing a tire, opening your mail, minor house repairs…stuff I was doing at 12 years old. What on earth makes you think someone wants “advice” from you unless it is to do precisely the opposite of what you suggest? Because really, it’d be pretty hard to screw things up worse than you.
Anti-spam word: Juicy.
Which is probably what your cell mate will be thinking when they roll you up into CB4 in Folsom.
March 8th, 2007 at 4:46 pm
Oh wow. This must have been an unsure transition. Was this your first time on the mainstream TV news? I would have been scared.
The news usually tapes a lenghty interview then cherry picks what they want to show. How much of this did they Edit out?
March 8th, 2007 at 5:35 pm
Ho Ho Ho - It’s Santa Fliper Clause
I would be careful, Casey. Santa’s last trip to the joint was absolutely no fun. One too many eggnogs and I’m staring at a six foot six inch man who wants to marry me.
The elfs faired even worse. They were all put in one cell and were forced to be the human bed of a 400 pound person of undetermined gender.
Later in the evening, the wardon went elf bowling as he was complaining how he could not get a second mortgage on his condo.
Santa F. Clause
March 8th, 2007 at 6:00 pm
Only you could be proud of that story, Casey. Maybe you should have told them about your blog, too.
March 8th, 2007 at 6:01 pm
Hi Casey
Finally getting back to your blog
Can’t log in from my job (prison)
Now that you have your new Corporation,
G, and Nigel to help you out, it’s
Just a matter of time before you can
Negotiate for that $2.5M house in Utah, right?
Gotta strike while the iron is hot . . .
Real estate is gonna come back with a bang
Everybody else is just wrong!
March 8th, 2007 at 6:05 pm
You look rather thin and almost sickly in that interview, Casey. Either the stress is really getting to you or the partial vegan diet does not agree with you. If that medical insurance is still current, I suggest you see a doctor cause seriously… you don’t look well.
Seems to me that you led the interviewer to believe you were earning 50K/yr when you took out those loans when the truth is you were unemployed. What happened to your resolution to be truthful?
March 8th, 2007 at 6:07 pm
**********
FBI: Mortgage lenders, borrowers beware
Consequences of fraud, criminal activity can result in steep fines and lengthy prison terms.
March 8 2007: 6:32 PM EST
NEW YORK (Reuters) — The Federal Bureau of Investigation, seeking to stem a rising tide of crime in home financing, said Thursday it will warn borrowers and lenders that mortgage fraud can result in stiff fines and prison time.
The FBI said on its Web site that the warning, worked out with the industry’s main lobbying group, will educate borrowers on the consequences of criminal activity and put potential perpetrators on notice.
http://money.cnn.com/2007/03/0.....2007030818
March 8th, 2007 at 6:39 pm
Hey kid;
Awwww, my feelings are hurt.
I was over at Nigel’s and he called me a “hater”.
Do I sound like a “hater” to you, little hobbit?
Cough up some of that advice, here, lad.
Your opinion is very important to me.
ASW: millions
March 8th, 2007 at 6:46 pm
#26. unsuited,
Not Web 2.0, W2. As in the form you get from a job which pays a wage/salary and reports you’re income and withheld taxes to the IRS.
March 8th, 2007 at 7:03 pm
errrr…back to the regular program
Real “normal person looser” Job?????
Foreclosures???
March 8th, 2007 at 7:34 pm
CASEY, I DARE YOU TO POST THIS COMMENT WITHOUT EDITING,
DO YOU HAVE GUTS??
==
Here’s what’s in Casey’s head.
1. take lots cash back at closing and use that money for fun.
2. pay only few loan payments for fun then stop paying them
3. no worry, no FBI or police will take CASEY to jail (IT’S WHAT AMERICA FOR., FREEDOM)
4. NEED MORE MONEY? BUY MORE HOUSES WITH LOTS CASH BACK AGAIN, NO NEED TO FIX UP OR RENT OUT TO PEOPLE.
5. NO PAYMENTS TO LENDERS, (NO NEED,CASEY STILL CAN DRINK JAMBA JUICE AND FLY TO OTHER STATES TO BUY MORE HOUSES WITH LOTS CASH BACK AGAIN.
6. FIND SOME DUMB INVESTORS AND USE THEM TO GET SOME MONEY FROM CLOSING, ( NO NEED CASEY’S CREDIT )
7. BIG DEAL, INVESTORS CAN NOT PAY LOAN PAYMENTS, THEY’RE DUMB TO HAVE CASEY HAS THEIR MENTOR
8. REPEAT STEP 1 AND FBI STILL CAN NOT PUT CASEY INTO JAIL.
SWEET~~~~
March 8th, 2007 at 7:35 pm
What you are doing will be good in the long term for the real estate industry. Lending standards got too lose and this caused prices to get out of line with reality. Some legitimate buyers are going to loose their homes and equity and of course others like you will get into trouble with the law and maybe you will too. But in the long run everything will adjust and the balance between income and real estate will be restored.
Keep up the good work.
March 8th, 2007 at 8:02 pm
Casey, if anyone asks you about preventing foreclosure it might be worth their time to contact:
http://www.hpfonline.org/
888-995-HOPE
The Homeownership Preservation Foundation’s national homeowner hotline–888-995-HOPE–provides homeowners with a specific, actionable plan that can help them avoid foreclosure, or explore alternatives to foreclosure if homeownership cannot be maintained. Assistance is available nationwide, 24 hours a day, 7 days a week. And there is no cost to the homeowner, since participating lenders and the Foundation fund the counseling sessions.
They are a 501(c)3 so no scams here. Just help.
March 8th, 2007 at 8:17 pm
Hey Casey,
My brother just phoned. The feds are really really upset now. I gotta tell you Casey - they are getting a warrant tomorrow. Casey - you got your passport?
You need to find a sweet deal now Casey, to pay off your lenders!!
Loads O Money
March 8th, 2007 at 8:17 pm
You almost proudly talk about liar loans and act like it’s the lender’s fault for granting the loan even when they suspect people are lying.
They are called “Liar Loans” because the people getting them- you- are liars. How does lying make you a victim? I always thought lying was a negative trait and one deserves what they get when they lie.
Sure they should have known applicants were lying, but you obviously knew you were too. You can hardly say this is not anyone’s but your own fault. If you had told the truth you wouldn’t be in this situation. I’m not sure why you’d expect people to sympathize with an admitted liar.
No criminal or civil charges….yet.
March 8th, 2007 at 8:28 pm
49. Smarter then you
# 16.
While Casey might do well as an entertainer/self-promoter, it is illegal to profit from criminal activities. Please refer to teh son of sam case for more information.
~~~~~~~~~~~~~~~~~~~~~~~~~~
If you refer to the case, you will learn that the Son of Sam Law was found to be unconstitutional, and that you are a dumbass.
March 8th, 2007 at 8:41 pm
In rather enjoyable viewing for C-SPAN, credit card companies top executives are grilled before Congress: a story in which that Casey might recognize many of the details.
March 8th, 2007 at 9:50 pm
“Casey Serin is close to a half million dollars in debt, but he says he is not facing any criminal or civil legal action.”
What she really meant was “Hear that District Attorneys? Here’s a fresh case, the poster child for the crippled housing market admitting he committed fraud on live TV. I’m calling you clowns out!”
But seriously dude, you look like you’re having a rough time of it. I’d recommend a vacation, but you just took one. You might want to look into some counseling, as you look like you’re about to hit a rough patch, and some professional help might be in order. Call 211, and they can hook you up with some sliding scale fee agencies, so you can get a therapist at a reasonable price.
Good Luck!
March 8th, 2007 at 10:20 pm
Casey,
Either you’re…
1. Too stupid to know you are exposing yourself to be made an example of by authorities, or
2. Brilliant in your self-awareness to market yourself to the upper-echelons of celebrity status like O.J. where everyone knows your guilty but you’re too famous to be taken down.
I tend to lean towards number #2 while wanting to see you prove to yourself and your public that you can dig yourself out of this. You’ve gained my sympathy and a lot of other people’s as well. A lot of haters are here too, but it is also “tough love.”
Greed and Materialism are like slow carcinogenic destroyers of people’s lives.
March 9th, 2007 at 4:29 am
@25. Suomen Juntti
What’s with these idiots quoting each anti-spam word here in the comments? It should be clear to you all by now that those words are on purpose something like “awesome”, “sweet”, “deals”, “Jambajuice”, “dirtypenny” or similar. It’s not a godly intervention that your anti-spam word happened to be like that, those words were picked by the blog owner!
Ah…duh! It’s an inside joke among the long-term bloggers; we suggested the idea to Casey after subjecting ourselves to him limited vocabulary month after month. Please, people, read from Post #1. Thank you.
…as to the blog entry itself, I would say you’re on your way with my plan for you…you will score some sweet dough! Hmm… Does this make me a hater or a cheerleader? Perhaps a realist-cheerleader?
It makes you as certifiable as Snowflake.
Love,
Hater
ASW: success
March 9th, 2007 at 5:47 am
Can someone please take the shovel away from Casey so he’ll stop digging himself this hole. Just do me a favor and hit him over the head with it a couple of times.
Casey, the next time you go on tv, I think it would be cool if you would touch your thumbs to your temples, spread your fingers and wave your hands through the air. Then, stick out your tongue while saying, “Nanner, nanner, nanner.”
Anti-spam word: equity
March 9th, 2007 at 6:05 am
What did you accomplish productive today or yesterday? Is the Utah payment all straigtened out? Please update without a bunch of guru bs.
March 9th, 2007 at 6:08 am
I thought the camera added 10 pounds. You may want to get some free meat to go along with those veggies you are getting from ma and Dad.
Is this report the “good things are coming” that you were talking about?
March 9th, 2007 at 7:00 am
In Google, Casey Serin scores an outstanding #8th and #9th for Cashcall!!
#8
http://iamfacingforeclosure.co.....y-friends/
#9
http://iamfacingforeclosure.co.....l-for-now/
Casey scores a very good #34th for “Jamba Juice”!!
#34th Jamba
http://iamfacingforeclosure.co.....juice-had/
Report:
Casey got from 20th to 8th position in 4 days, and got a second link for CashCall in top ten. If we keep going this way Casey would eventually be ahead of www.cashcall.com be careful!!
go on Casey! sweeeeettt
PS: antispam words make me laugh
March 9th, 2007 at 7:21 am
Casey I’m not sure what advice you could give anyone facing foreclosure?
1. Ignore the mail
2. Ignore your properties
3. Monitize a web site
4. Search for new loans
5. Search for sweet deals to make up losses
6. Don’t work a 9-5 job
The one area you might be able to help in is facing up to the pressure of loosing everything and starting over.
March 9th, 2007 at 7:43 am
Publicly thumbing your nose at those who trusted loaning you money. What a guy.
March 9th, 2007 at 7:59 am
#62 Panda says — You inferred that you were still employed when you bought the houses. You weren’t and we’re not idiots.
It’s “implied” not “inferred” so maybe we are idiots.
Of course, we can be idiots with Casey still being an idiot.
Sometimes I feel reading this blog makes me an idiot — it sure ain’t making me smarter.
March 9th, 2007 at 8:55 am
Casey……
wow…too cool….you were on TV….
you are a complete spare who couldn’t manage your way out of a paper sack.
what are you doing to sell your remaining property? what are your activites daily to get out of these problems? add divorce to your list of problems.
March 9th, 2007 at 9:04 am
To be fair the seafood caption says
“Had to splurge a little after a full day of business…”
it does not say sucessful. Although if you splurge after esch full day of business you may go broke. Unless you are Casey, he rarely conducts a full day.
March 9th, 2007 at 9:09 am
Wouldn’t the authorites get involved if someone defaulted on a full doc loan where the borrower had provided fake/forged/fictitious pay stubs, W2’s, and tax returns to inflate their income.
Why don’t they care when a borrower defaults on a stated income loan and they can clearly prove that the stated income amount was inflated???
March 9th, 2007 at 9:15 am
Casey,
Sell those homes and work off your debt. The subprime mortage lenders are collapsing and the real estate market with it.
Get a job and pay off your creditors. Borrowing money illegally isn’t the way to go.
Derek
March 9th, 2007 at 9:36 am
@49
“…I am 22 with a job that only pays $28,000 BEFORE taxes, and I have managed in the past year to collect 4 multi-family dwellings all with positive cash flow. Guess what I only spent $40 buying books from Barnes and Noble.”
Well done! I did it the same way, but not quite as young as you (bought my first multi at age 32), but still was a millionaire by 40 and have a comfortable passive income from RE these days. I spent about $80 on books.
(new antispam word - “deals”)
March 9th, 2007 at 10:40 am
Casey, when are you going to answer the questions about how you pay for you day-to-day stuff, like food, electricity, water, heat, toilet paper, etc.? We would all love to know where you are getting the money to survive….
March 9th, 2007 at 10:55 am
When this site goes down again or when
casey finally gets busted or pulls the plug
or runs out of hosting money, check another
blog - a sorta backup blog.
How about http://housingpanic.blogspot.com/
They have a sticky Bubbletalk post on top
and already have some iff.com posters.
March 9th, 2007 at 11:06 am
i just get really irritated that you go on tv and try to play the victim. Yeah, like loaning institutions came to your house and made you borrow money.
No.
You and everyone else sought them out. It is your actions that caused you to be where you are. No one else’s fault but your own.
I’m sure glad you are taking time out of your busy “juicing” day to go on TV, instead of making real contacts and deals to get your houses sold.
Zero sympathy from my end.
March 9th, 2007 at 11:10 am
Our Hero, Casey Serin, #13 Google result for “CashCall”.
Those names again - Casey Serin and CashCall.
If you google for: cashcall wikipedia
guess who shows up as #2?
(And I bet you don’t guess who shows up as #1)
March 9th, 2007 at 11:25 am
I think most can agree that Casey has made many mistakes along the road, and that really he should knuckle down and get a job. However…
The lenders did a p*ss poor job of due diligence. If they’re dumb enough to give a pile of stated income loans to people, then despite all of Casey’s mistakes, they had it coming.
When I talked to my bank for a car loan, I had to fill out an app and state my income. They called up my employer to verify that what I said was true. You’d think an institution lending 10x the amount of an average car loan would at least follow up on information written on the mortgage application. Idiots. Complete and utter idiots.
And before anyone gets the wrong idea, no, I am not defending Casey. All I’m saying is the banks have their fare share of foolishness here.
March 9th, 2007 at 12:09 pm
I went to the library 21 years ago and borrowed Sheet’s “No Money down”. It was useless in NY Metro then, maybe now the banks would give someone a house if they showed they could pay for it.
(Never bought without at least 20% down though.)
March 9th, 2007 at 12:32 pm
Red,
Are you saying if the bank left the vault open and Casey happened to be cashing a $5.00 birthday check his mom sent him, that he could walk into the vault and help himself to the money and it would be the bank’s fault?
Of course the lenders have some policy problems BUT the fact is, had Casey told the truth at any time - no job, no income, did not intend to occupy the property, the bank would have denied his loan.
March 9th, 2007 at 3:34 pm
god won’t bless a tithe if you are making unwise decisions. Look at proverbs. God can’t bless a man who is a fool with his money. What would that teach you. That he can be bought with 10%
I dare you to give 100% wouldn’t he bless you more and faster, because really he want’s all of you. So if you just give money nothings going to happen, if you don’t heed his wise instruction.
March 9th, 2007 at 5:11 pm
so i can loose money get in debt and foreclosers, and get media attention write a book and make money off that…..hmmmm thanks casey..!!
March 9th, 2007 at 5:17 pm
ur in wikipedia….haha where will it end?
google forecloser…..casey
google cashcall….casey
google pressure on marriage….casey
wow…..im out of breath from casey running all over the internet
March 9th, 2007 at 5:18 pm
still………no job…..
counting the days of unemployed….
March 9th, 2007 at 8:21 pm
96. Hugh Latimer
“Wouldn’t the authorites get involved if someone defaulted on a full doc loan where the borrower had provided fake/forged/fictitious pay stubs, W2’s, and tax returns to inflate their income. Why don’t they care when a borrower defaults on a stated income loan and they can clearly prove that the stated income amount was inflated??? ”
Even if your paystubs and w2’s were real, they would definitely go after you for simultaneously using them in 4 different states for 8 different loans and never disclosing the fact that you got the other loans. This is why i asked Casey to stop blaming this on liar loans. That is only one small ingredient in this shepherds pie. In the end, he did a lot more than overstate his income. Casey, seriously man, get a lawyer and stop blogging this story. This is deeper than you think.
March 9th, 2007 at 9:09 pm
@93:
Technically it could be only 7 cases of mortgage fraud. If Casey’s time line is correct(always a crap shoot with him) he could have bought Burdett while he was still employed.
More likely is he quit his job and financed his lifestyle with Burdett’s cash back.
March 9th, 2007 at 11:12 pm
Casey,
Did you get an extra copy of this video? The news station gets rid of them after a while.
March 10th, 2007 at 2:05 am
As usual, farting away your time. It’s my personal feeling that those Utah payments got lost in your pocket. How else can you be getting by?
Fool.
March 10th, 2007 at 12:48 pm
ANTI SPAM WORD “JUICY”
March 11th, 2007 at 7:59 am
Ha ha, I just watched that video. Pretty comical.
As I said many times, Casey Serin, get a job. The IRS doesn’t play when they don’t get their money. If you don’t file a truthful return after getting all your 1099’s, that is going to be more years in jail.
Your friend
Cotton Swaby
Award Winning Commenter
March 11th, 2007 at 12:49 pm
what’s up with the man purse Casey is carrying on all pictures?
March 12th, 2007 at 8:17 am
some of these comments are outrageous…I wouldn’t be surprised if one of your blog readers came to assassinate you!….just a joke casey btw I love this blog
March 13th, 2007 at 7:04 am
OK, I know you all like to bash Casey, but let’s get to the reality:
1) Jail is for violent offenders and drug traffickers. That’s pretty much it, and that is due to politics. There’s no room for every felon. Burglars, for instance, don’t get jail unless they’re career criminals. Plea bargains suit the prosecutor as much as the defendant.
2) The FBI is overwhelmed running down terrorism. Drug investigations have dropped sharply. They’ve been running down mortgage fraud like they’re been running down DVD copyright infringement.
3) My take on the FBI presser is that, due to politics, FBI will probably have a few investigations/prosecutions of some really egregious cases (and Casey’s is FAR from the most egregious). But that will be it.
Point being: if you haters want to see Casey do the frog walk, you’re going to be disappointed. I’ve seen hardcore criminals walk time after time with suspended sentences, and that is certainly not Casey. Look at Casey, look at your common criminal: Casey may have a lot of issues, but in the end, he’s going to catch a break from the prosecutor, the judge, and any jury — because he doesn’t look like what they think a criminal looks like and he hasn’t committed what they consider to be REAL crime. As for IRS, again, Casey’s broke; IRS won’t waste its time over someone with no property or income. When/if Casey gets on his feet, they’ll take an offer in compromise.
March 14th, 2007 at 4:51 pm
The entire mortgage industry is suffering from hucksters like ol’ Casey.
http://mortgageimplode.com/
Bad loans to people who didn’t deserve, and can’t pay for them. Combine that with “Flip that house” on TV, and we’ve got a financial crisis on our hands.
Reality Check Moment:
Who does it benefit? Me, the investor who actually has capital. Thanks to people like Casey, I buy houses for a fraction of what they cost just two years ago. I rent them out and middle class people pay the mortgages. There will be more renters, as more mortgage institutions are investigated due to a high rate of foreclosures, thus tightening up on who gets loans, and for how much. Thanks Casey, for making rich people richer, and poor people poorer.
Knowledge you can’t get in college:
See, what Casey, and a lot of investors miss, is that you haven’t made a dime until you SELL the house. Your job as a real estate investor starts with fixing the first few houses you buy. I restored four homes before I could get enough capital together to buy one without a loan. The only money that is real is liquid assets. Equity is not profit. The stuff the feds tax is income, and the rest is your liquid assets. I still work on every house I buy, and every time I hire someone to fix something, or buy something, I lose money. I only make money after a sale is completed. Until then, you are going to need that job. It’s that simple.
Casey:
Sitting around, acting like an investor isn’t a job. Investors have money to buy AND FIX the houses they invest in. You were the equivilant of a crack dealer who thinks he is going to make millions, while sitting in his living room smoking up his product. If you can’t sell, rent until you can sell. What you can’t rent (or can’t get enough rent), fix or improve. What you can’t fix, well buy a freakin book and start reading. If you can’t do it yourself, pay someone to show you how. I can think of a million jobs were the similar concepts apply.
Until you can get that down, well, jail might not be that bad of a place for you to learn how to be resourceful. I’m sure this advice would have been more useful for you a lot earlier, but maybe some good can come out of this when someone else realizes that there is no golden ticket to riches. Hard work is the only solution to money problems.
And to the Euros that chimed in thinking this guy represents Americans and uses it as a platform to say Europe is better:
Take a bath regularly, then look in the mirror and brush your teeth and realize your country is only prospering because we haven’t let anybody take your country over. Oh, yeah, don’t forget to pick up after your dog as well. Yes you.
Our military is what your neighboring countries are afraid of, not yours. So we have an idiot president. So we’re in war for the wrong reason. I’ll give you that. But this country has survived much worse and will recover from the bad decisions and mismanagement. In four year after he’s gone, and the war has ended, you will all be sending your investments into our stock markets, and corperations. If it’s so bad here, why do we have an immigration problem. It is still the land of opportunity and people who work hard get rich here. That will never change.
March 19th, 2007 at 12:43 am
Facing Foreclosure Live Call Wednesday March 21st My View on College Casey Serin Facing Foreclosure on Wikipedia - a Defense Couldn’t Avoid Foreclosure on Burdett Burdett Avoid Foreclosure Deadline Facing Foreclosure Story on CBS San Francisco Utah Trip a Success! Don’t Be a Dick. Do Some Sweet Deals. Timeline of Life, Houses and Foreclosure CashCall is Calling my Friends Get Foreclosure Help by Drinking Fresh Juice My First Trustee Sale / Foreclosure Auction Results
March 24th, 2007 at 9:43 pm
Now here’s the million dollar question. Why is it really that lenders are going out of business? Is it because of guys like Casey misrepresenting himself on loan docs? Let’s examine the facts of the case:
Fact 1: On a home mortgage, the majority of the payment is interest during the first 19 years. Thus, for the first few years all they are collecting is gravy.
Fact 2: All loans are secured by Deeds of Trust or some simular financial instrument to protect the lenders. Unless you are the lender in second position, when guys like Casey default, they collect 100% of the money they loaned through the foreclosure process. (see Fact 1 about how you were mostly paying interest at first).
Fact 3: Even on a short sale, the lenders are still going to be able to collect enough money to make money on the deal. Remember, they are not trying to get the full loan value of the property here (which is why the pay such close attention to LTV ratios), just the amount THEY loaned. They also make sure of they make a profit when they collect their fees and closing costs at the sale of the property to another “investor.”
CONCLUSION: If lenders went out of business, it was because they sucked at managing their own business and accompanying revenues, NOT because guys like Casey screwed them over. What you should be really pissed about however, is how the American taxpayer is going to make up the shortfall that will be created in the economic system by all of these Mortgage Lenders and Realtors (aka crooks) jacking up the prices artificially to make a buck while the market is hot. But can you really blame them for taking advantage of a good situation? It’s like expecting a bank robber to walk by an open vault door full of cash!