[Banks lost at least $130,000 on me. Talk about my consequences on the show and comments here.]
Some of you already know about this, but the Larchmont REO property was sold by the bank for $199,000 on May 11th. See the provided MLS screenshot. I lost the Larchmont property to foreclosure on February 27th, 2007. I was at the foreclosure auction in person and watched it go back to the bank for $216,000 because nobody bid on it.
A little history on this foreclosure…
I bought this property for $330,000 on March 13th, 2006 with 100% financing. There were two loans 80% first and a 20% second. This deal was put together by another investor and was being offered through the local investment club with the cash-back already built-in.
I just had to pay $7,000 non-refundable assignment fee in order to take it over, which I did. I was going to use the $50K cash-back for repairs and pay a few mortgage payments then sell it on a lease option. Too bad things didn’t quite work out that way…
The $50K carrot…
I rushed into this deal because the $50K “carrot” was just too hard to pass up. I needed the money to float the other properties I was buying at that time. I was buying out of desperation without considering the exit strategy too much.
The monthly payment on 330K with 100% financing was a lot more then I can rent it out for, even with a lease option. I would be $1,000 negative every month if I would rent or lease it. The purchase price seemed a little high too. I knew there was no way I could turn around and re-sell for the same price. Especially since it still needed repairs!
What was I thinking???
Short Sale Attempted…
At least, I did try to salvage the situation later by starting to do some repairs (before I ran out of money and credit). Then I tried to lease option it. When that didn’t work out I tried a short sale. The nice short sale Realtor I hired fought long and hard to get the short sale done for me.
We finally had a buyer at 220k but the bank wasn’t willing to go down that low on a short sale at that point. My agent eventually got the bank to accept that price but the buyer got tired of waiting and moved on!
Banks Could Have Saved 70K on a Short Sale and Avoid Foreclosure!!
The bank could have sold the property on a short sale for 220K. I was even willing to sign a $50,000 promissory note to make it happen. That was the only way they would let the short sale happen.
The first loan was at $264,000. So the offer of $220K plus my $50K promissory note would have given the first lender most of their money back over time.
What was the bank thinking??
Consequences and debt liability…
What’s done is done. Can’t go back and change history. Now all I have it try to deal with the consequences. That’s something I’ll have to figure out.
- Can the first or second lender go after me for the lost money?
- What can they do and what are my options?
- How can I show good-faith effort and try to make amends and/or pay some/all the lost money?
Hear From a Former Manager of the Collection Department Tonight
A loss mitigation specialist and associate of mine agreed to be on the show tonight. He will help me tackle some of the questions about debt and consequences from foreclosed houses.
He now helps people who are facing foreclosure by negotiating with the banks on their behalf. His experience and expertise comes from being in the collections industry for over 15 years - both as a collector and manager of collection department.
Feel free to call-in and give me any advice or ask questions.
120 Comments
-
s strengths? This confirms my motto: Keep it sweet and simple Smile in the face of adversity and try and try again Shunning mediocrity can lead to big successes and equally huge failures Casey Serin foreclosed 6 properties and has $2.2 Million in debt from his failed real estate investments. Here are the 10 mistakes he committed. Mistakes are normal part of our lives. Don’t be sorry if you committed any…irregardless of the degree of the consequences
-
10 bucks says the bank will send you a 1099…
-
murst
-
you are such a loser!
try working 12 hours a day like me to get ahead.
REAL work you JA not lazy a** beg for money s*** .
-
The bank could have sold the property on a short sale for 220K. I was even willing to sign a $50,000 promissory note to make it happen. That was the only way they would let the short sale happen.
The first loan was at $264,000. So the offer of $220K plus my $50K promissory note would have given the first lender most of their money back over time.
What was the bank thinking??stupid bank mis-timed the market. well whatever it is their money. see you smarter than them. you mis-timed the market too. you lost loads of money… their money. Eff them.
-
So basically you lied on your loan application not just about your resident intentions but also about the value of the property - that’s a Federal crime, but I’m sure you know that already (since it gets mentioned every few comments).
You know that fine print on the 1003 form you must have signed:
(1) the information provided in this application is true and correct as of the date set forth opposite my signature and that any intentional or negligent misrepresentation of this information contained in this application may result in civil liability, including monetary damages, to any person who may suffer any loss due to reliance upon any misrepresentation that I have made on this application, and/or in criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Sec. 1001, et seq.;
http://frwebgate.access.gpo.go.....+18USC1001
Just five years, I wonder if they’d do it per lie? -
It’s all good! Only $130K to repay! Sweet deal! Let’s celebrate with $199K of wheatgrass juice for the rest of your life
-
$330,000 on March 13th, 2006
$199,000 on May 25th, 2007wow some big lose here in just over 14 months.
casey these are some hard numbers telling you that you are a world class RE jackazz. or does this mean nothing to you?
how about that gspr or whatever stock you bought. you took a big hit on that too.
hello/ hello? is none of this sinking in?
i know you are baiting when you question the banks inability to cut their looses.
winsome loosesome. -
I’m not sure how the fraud will play in, but the first lender can either sue you for the difference or write it off which makes it taxable to you.
You can make amends by getting a job and paying back the banks, which I’m sure you’ll get right to doing. I mean, this is certainly the first time you’ve heard this.
-
I was even willing to sign a $50,000 promissory note
maybe the bank already knew you werent going to be paying back this loan just like all your other unpaid loans.
kind of like the time some do-nothing low-life destroyed some of my property. they offered to pay me back in installments. i told him forget it. i dont need that low life coming back around my house.
it was my realtor…
…and now you know the rest of the story. j/k -
Wow Casey looks like you and I are the only ones working at 3 pm on a friday before the 3 day weekend.
-
The bank could have saved all of its money if you hadn’t flaked out on your obligations.
-
Only you could fail to make money in the biggest housing bubble in the history of the united states
-
Tell us in your own words why the deal with Duane didn’t work out.
You are lazy Casey.
-
What was I thinking???
You were probably in a manic phase.What was the bank thinking??
We aren’t going to do a deal with a guy who never follows up?I’m with Julian (Trailer Park Boy), you’ll get a 1099 for at least $65000.
-
Good Luck Casey! Go get them!
-
i read “Larchmont Foreclosure”
as “Larchmont Failure”
asw !d!0t
-
So you are wonder why the banks wouldn’t help you out? Gee I don’t know why.
And “what was the bank thinking” DAM THOSE BANKS AND THEIR FEE’s, RULE’s and things!!!
-
No offense to you, but the reason they didn’t accept is because the banks are dumber than the flippers that are in trouble now…how else can you explain the mess we’re all in now? Irresponsible lending, and now they won’t cut their losses in time, thus creating further losses. The extra loss is their own fault.
-
[deleted]
-
Every bad thing that could possibly happen to you, Casey, deserves to happen. You have had thousands of chances to turn yourself around.
I don’t feel sorry one single bit.
Not an iota.
My anti-spam word is “wheatgrass.”
Need I say more?
Sweet!!!!!!!!!!!!!
-
Suck it up and move on!! It happens man, on to the next flip!
-
The purchaser of this property paid its true value.
You OVERPAID way too much. Not so smart.
You know, the mortgage broker knows, as do the lender(s) that you took $50K cash out of the deal from your purchase price - at minimum you should be paying that amount back — those are very dirty pennies. It is the morally and ethically thing to do - at a minimum.
-
“The monthly payment on 330K with 100% financing was a lot more then I can rent it out for, even with a lease option. I would be $1,000 negative every month if I would rent or lease it. The purchase price seemed a little high too. I knew there was no way I could turn around and re-sell for the same price. Especially since it still needed repairs!
What was I thinking???”
So, to clarify, you knew you that the property would be foreclosed because you couldn’t afford to make even one payment on it and you bought it anyways to get $50,000 cash out of it.
Casey, you have just admitted to purposefully defrauding the banks of $50,000.
I don’t know what to say except you need to stop admitting to knowingly committing criminal activities and get a damn good lawyer.
-
Casey,
As I remember, you signed that 50k note and it is independent of the short sale agreement. But then you never did read that document all the way through until you thoroughly understood all the clauses and possibilities, now did you? So, you are on the hook for that 50k. What sweet justice that it exactly equals the “stash back” at closing amount. Karma kiddo karma…
coyote -
“What was the bank thinking??”
That’s a mighty big pot calling the kettle black.
-
$199K is still way too high. This POS will be worth
-
So basically you lied on your loan application not just about your resident intentions but also about the value of the property - that’s a Federal crime
I am sure the US attorney is in the middle of an afternoon prayer session, and can’t be bothered to send his deputy to file charges against Casey. Whatever he might be doing, it could be election related. (You see how this all ties together? Ripped from today’s headlines…)
Happy Memorial Day, and other such oxymorons.
-
is that talkshoe thing REQUIRING a membership to listen this week? Don’t remember that from the past….and, frankly, I don’t trust a friend of Casey’s with anything like real info. Is there a non sign-on link for listen only mode?
-
lol, the haters are going to be busy updating Casey’s wikipedia page…
-
The banks will just print more of their fraud paper, no skin of their beaks. How ya think the ” Federal” ( a joke) Reserve works anyway?
The criminal world bankSTer war mongers PRINT all the money they want, free, enslave the populations, place a moron like Bush in the white House and keep perpetual war going forever.
How ya think your beloved Ukraine was enslaved for so long, and still impoverished today. WWll just a taste of their handy work.
They are genetically related criminals, but hey, don’t lose any sleep over these rackateeering criminals.
Tell them to shove any 1099’s up their beaks. -
I guess you could say “you were one of those suckers born every minute when you bought the place.”
Casey, it is sad to see the financially naive loose their shirts but I guess it’s all good for guys like myself who make the killings after the blood has been spilled mercilessly.
Do hope there is a “next time” for you… My advice lay low for a few years. California has a four year statute… admit nothing and you’ll be scot free. Oops, sorry. Your public blog confirms all… better to start over in another state… Lots of hucksters in Florida!
H
-
Hey, where did the chat thingy go? Yesterday’s chat was pretty fun.
Will there be available recordings of the phone chats?
ASW: awesome
-
Burke:
My anti-spam word is “wheatgrass.”
Need I say more?
No. And in fact, you should’ve said less.
Can we all please stop with the “my asw was” crap? We’ve all seen them. The fact that you’re the eight billionth guy to get “wheatgrass” is not even vaguely interesting.
-
What happened to the chatbox?
-
Kid;
Ya know, kid, I LIKE IT when you delete/censor my posts.
It lets me know I’ve landed a good body-shot. And, just to keep the record straight, I’m cross-posting at EN.
So Mister “No More Loans!….except maybe from…for…”
“I bought this property for $330,000 on March 13th, 2006 with 100% financing. ”
Yep, you like to “buy” crap, kid, and this mud-hut was just that.
“What was I thinking???”
I’ll tell you what you were thinking:
“Oooooh, shiny! Casey WANTS it for cash-back! Sweet!
Itsallgood-Itsallgood-Itsalgood!”…that’s what.
“What was the bank thinking??”
That un’s easy:
“Hey, this schmuk wants to buy this dungheap for a 3rd of a million. Why not underwrite it? All of us make commissions, and if Mister Mogul ends up screwing the pooch and living under a bridge, we’ll foreclose and repo the house, auction it off, and heap all our losses on “Dimwit Trump” via a 1099, while WE get a nice tax loss.
And hey, he might actually be able to pay us for this atomic blast bunker
Win-win, win-win, win-win.”That’s what THEY were thinking, hobbit.
So…who’s smarter?
See ya in the funny papers, corporation man
asw: investor
-
Steve Serin is my new hero!
Casey = a homeless guy with a computer = PRICELESS
-
Hi Casey.
How much of your book do you have written?
Also, does your publisher know about the NLL contract?
-
Sorry to hear about the trouble you have been though. Would make a good book I am sure.
-
Tonight the iceberg was a little bigger
Last week was Duane
This week his brother
Casey, what happens if I call next week? What if Homey does?
Its just going to get worse. Listen to your brother
-
And so it should be obvious now, especially to an individual with a 131 IQ, what his priorities should be:
1. G*****
2. Finalizing a Debt Management Plan™ in X number of days. (e.g. foreclosure debt over CC debt?)
3. Maintaining the blog*, but not being consumed by it. (e.g. There’s no need to waste extra time developing it into a “foreclosure help site” for now… the blogged version of his life generates enough traffic for now) *But only because it’s his sole income producing asset.
4. (Can only be addressed after something for priorities 1. through 3. are accomplised every day) - 4. Figure out which one, single sweet deal™ you may turn into a “sweat” deal™ someday and work on… Fail to follow this and he realizes he’s just burning up time chasing TOO MANY SHINY OBJECTS in too tiny of a way that none will amount to much (e.g. Even a book deal could probably wait until there’s a sucess story - or at least until he has a SOLID DEBT MANAGEMENT PLAN… UNLESS you have to use it to generate cash quickly but be careful that it could consume too much time) -
How much will you owe in taxes for all the losses?
Wow, you overpaid by around 40%. How with all of your RE education did you not know that the market was turning? I never took any RE guru classes and I was getting ready to sell in CA as you were buying. Word on the street was that this was happening. How did you not know?
I did buy again outside and CA and should make 70k easy on my live in flip tax free. But, not all markets are tanking.
-
What was I thinking?
This is what you should have been thinking:
“If they give me more than enough rope, do they, possibly, want to hang me?”
-
And by worse, I mean the questions.
The questions will get tougher, deeper
-
Hey, I missed the call in show. Any interesting callers? Or not? Is there a transcript available?
-
Glorified G
asw !d!0t
No one cares what your antispam word was.
Nigiri Yo
ASW: awesome
No one cares what your antispam word was.
Sharky
asw: investor
No one cares what your antispam word was.
-
Thousand Bucks on the Kitchen Table
Met the $1,000/week challenge my first week. I actually made over $2500. But there is the amount in cash on the kitchen table that I was supposed to deliver. Sweeeeeeeet.
-
Let’s pool our money and buy the smallest chunk of debt Casey owes. With it will come all his personal info. We can then call him all day, every day - keeping it legal so we don’t stoop to his level - until he pays it back. Rinse and repeat. What do y’all think?
-
Casey, it’s time to change “This week: $2,255.99+/1,000″ back to “This week: $0/1,000″.
What’s the plan for a grand this week?
-
Now worry, sweet things are coming to Casey… 1099, jail time
sweet~~
p.s. Casey is a thief, he got the cash back but does not want to pay the bank, he got $2500 and still will not give bank any cent~
-
School of Hard Knocks: first you get the test, then you get the lesson.
-
Casey:
Sweet news the banks loose thousands and you make $2K a month talking about it.
-
Have you done the $300 blog job yet?
This is your first priority. Not blogging about Larchmont.
-
“Wow… what a craaaazy talkshow today.”
I found it very sad and pathetic. I went from a guy rooting for you (Sept-Oct ‘06), to becoming a hater. Now, I just feel sorry for your family and I could care less about your fate. Steve is your bro, and it’s clear that your actions are tearing out the soul of your family. Nothing is more important, yet there you are pondering if you love your blog more than your own family.
-
How did you manage to turn the money that was in PayPal into new, crisp $100 bills so quickly?
-
@ #51. USDoJ
Naw, man. You don’t want to buy the debt just so you can Casey. Heck, you can do that for free every week. The reason you want to buy the debt is so you can throw the Snowflake into involuntary bankruptcy. Then the judge and federal trustee get to have fun asking him questions.
@#49 NO ONE CARES WHAT YOUR ANTISPAM WORD WAS
My antispam word was sweet. What was yours?
-
[IMG Is Casey Serin an Interzone Agent?] Apparently Casey Serin to
-
Although housing prices are crashing, asking prices have not begun to fall yet - they’re actually going up even faster.
In the current market condition, paying anything more than 50% of asking price on a new home is probably paying more than you are likely to be able to sell for.
-
So many people have called you on the Corporate Credit SCAM. Has the idea that you have a criminal mind ever entered your orbit yet? Time after time after time, the first thing that you think of — is the wrong thing! Seriously, many people have it — especially at your age. Recognizing it is a first step.
-
Casey’s bro rules!
-
Does a 1099 matter if one is insolvent? I always thought it did not?
Casey is a lot of things, but solvent isn’t one of them. I don’t think anyone here could reasonably disagree.
-
With over 2k made this week, you can take next week off!
Sweeet! -
Steve Serin,
Please kick your brother good and hard for all of us.
I didn’t know Casey had a brother or I would have posted this months ago.
Casey needs a good hearty boot in the a** , and a brother’s just the guy to do it.
-
Sacramento is ground zero for the fallout:
-
this week’s fraudcast
-
lol steve and flyingmonkeywarrior are the highlights of the show
-
What did you do with the rest of the money from this week? $1500+
Where’s the chat program from 05/24/07 on the side bar?
I want what Mocha was drinking.
#49 NO ONE CARES WHAT YOUR ASW WAS, my word is “jetta”
-
1099
mortgage fraud
default loans
collection accounts
legal
jail
-
For the last time, Serin … you DID sign that Countrywide note and you DO owe them $50,000 because of it.
-
ck c’s BRO RULES!
-
Casey, I said that it’s time to change “This week: $2,259+/$1,000″ back to “This week: $0/$1,000″.
I didn’t say it’s time to remove it entirely.
Are you giving up on the $1,000 per week thing, or something? Or was it just the scam of the week, and now you’re done with it?
-
“YOU ARE UNEMPLOYABLE
YOU ARE UNEMPLOYABLE
YOU ARE UNEMPLOYABLE
YOU ARE UNEMPLOYABLE
YOU ARE UNEMPLOYABLE
YOU ARE UNEMPLOYABLE
YOU ARE UNEMPLOYABLE
YOU ARE UNEMPLOYABLE
YOU ARE UNEMPLOYABLE
YOU ARE UNEMPLOYABLE
YOU ARE UNEMPLOYABLE
YOU ARE UNEMPLOYABLE”#34. HR Professional - is there some kind of point you would like to make?
-
Hey guys, there’s a Casey Serin South:
“Eight properties owned by local real estate power player David Crisp and his close family members have entered the first stage of foreclosure in just the last six weeks.”
-
I just wanted to make a comment regarding subprime loans. It is not the borrowers fault if they default, it is the banks. I once had a guy call in asking why we gave him the mortgage since there was no way he could afford it. Some may argue he should know what he can afford. WRONG. Some of our customers are absolutly horrible with money. But look at the products the banking industry is offering. The one that REALLY gets on my nerves is the no income verification loan. A homeless guy, with a good credit score, can walk into one of our offices and get a mortgage for a 1.5 million dollar home with our no income verification mortgages. Its the banks fault for offering crappy products, they should eat the losses.
-
@ 68 Dude
Are you a plant?
-
Casey: What was the bank thinking??
Preposterous.
-
Casey: Have you finished the $300 blog job yet?
Don’t give it up! That would be exactly the wrong thing to do.
Why would you give it up? Because you made your $1000 goal already and it seems like hard work? NOT A VALID REASON.
You made a commitment; now you have to perform your end of the agreement. Returning the money will NOT void your commitment, and here’s why. The buyer expects you to do the job and so he/she has stopped looking for other people to do it. If you return the money now, you have wasted this person’s time and energy in firstly finding you and deciding to hire your services, and secondly the buyer has lost the time he/she could have spent finding somebody else to do the work. If it’s a week since you accepted the money, that’s a week you have cost the buyer. At this point the buyer has committed the funds and so the buyer no longer has a choice of suppliers; if you give back the money the buyer will have their funds back but he/she now has to go look for another person to perform the job, and has been delayed by a week.
One of the accusations leveled against you is that you screw everybody who deals with you. If you give back the money, you’ll be screwing this buyer too. Don’t do it.
-
Casey,
Thanks for the opportunity to be on your show.
I hope you succeed.
-
Housing inventory in North Highlands, CA, keeps going up!
-
@59. Nigiri Yo - After the first beg-a-thon he said he has a Paypal ATM/Debit card so that’s how he turned a Paypal balance into cash so fast.
Why are people asking what he’s going to do next week for another $1k? He’s already has more than that left over from his “ad campaign”… So question now is: What’s the plan for the first week in June?
I hope he’s enrolled in the PayPal money market (PAPXX) since it’s yielding over 5% now. Or, because of the squawk on the ‘net that Paypal often freezes accounts when odd things happen (see first beg-a-thon with), maybe he should move the money out of there and into a high interest online savings account?
-
Sure monetizing the blog is a wise and prudent thing to do, but it is a part-time job, at the most.
Do other industries have an interest for you, besides real estate? That is not the industry to be in, at the moment. I suppose a person like Duane could make a lot of money now.
Seriously, try to get a 9-5 job anywhere, and get all of these people off of you back.
It would not hurt to learn a trade since you have no college degree.
If you want passive income, you must spend your time working, otherwise it defeats the purpose of having it.
-
“If the guy can’t afford the payment, get a new roommate (that doesn’t steal identities) to share the costs, or get a 2nd job delivering pizzas to cover the mtg. Cancel the cable, internet, stop eating out and hunker down to make the payments.
Giving up on a current property is for loosers”
That’s terrible advice, to throw good money after bad. He is upside down 100 grand soon to be 200 grand and more. Not only is he paying principal but also interest on these losses. The best thing for that guy is to get out - sell to a greater fool, default and let it go to foreclosure, or short sell. It doesn’t really matter how he gets out as long as he gets out and stops the bleeding now.
If he still has his original “purchase money” loan(s), these are non-recourse and there can’t be a deficiency judgment, or a 1099C.
However, even in the unlikely event he gets hit with a deficiency judgment or a 1099C, this is still better than hanging on to a terrible investment.
-
Tell us which bank is holding the Sweet Links money so the plaintiff’s attorneys know where to execute their judgments after they sue your sorry a$$.
-
Duane, after listening to the podcast– man, you gotta step back. You’re over-involved to the point of codependency. Are you the adult child of an alcoholic? Or maybe you had a sick parent? You can’t save Casey, you’re making yourself crazy, and you’re doing it all to yourself.
-
SS RULZ and kc doesn’t
-
Man Casey,
Why did you hang up on Duane? Why is it “not that easy” to take your younger brothers advice? Don’t step on your family just to follow your dream. Thats selfish man, just selfish!!
-
Casey:
Where is the money meter for the $1,000 income you need to generate by next Friday, June 1?
While you made in excess of $2,500 this week - think of the $1,500 as a “bonus” and put it towards one of your debts (i.e., cashcall) and get started on the $1,000 you need by Friday at 5:00 p.m.
Think of it this way - “those who can not be named” gave you a $1,000 p/week challenge…. that equals $52,000 p/year. However, if you can make and sustain $2,500 p/week, that will give you $130,000 p/year. You could use the $1,000 p/week for living expenses and the added $1,500 p/week to pay down the debt without filing BK. Think of it this way — with sustained earnings of $2,500 p/week, the excess money earned would PAY OFF the debts in just over two years time.
So, what will this take? Your active participation on the blog with twice daily trolling (opps - postings). And you need to do this because your visitor numbers are crashing faster than the Sacramento RE market. Keep the visitors coming and the advertisers/sponsors will be happy.
So, first, get active and make it compelling for the visitors - then sell those last three $500 sponsor spots… that will get you $1,500 for the week…. then, get creative and come up with another sponsorship or opportunity for sponsors to make another $1,000…..
One last thing Casey - you are not a W-2 employee… so while many of us are enjoying a paid three-day weekend, you don’t get one. That is the reality of the self-employed and owners of new business start-ups.
You need to get to work now, hustle your butt off and keep the sponsors happy by drawing visitors to the site.
I’ll give you a few questions you can take and create new posts for the next couple of days:
1. What we did with Friday’s $1,000 (i.e., what bills were paid)
2. What we did with the added $1,500 earned.
3. Status of the $22K that was to be paid this week to your “private” lenders.
4. Update on future “sweet media” opportunities.
5. Update on your taxes (i.e., what progress have you made in the last six weeks for organizing your files and records)
6. The status of the Utah property - have the people who “purchased it” from you stopped making payments? Is it still on the market?
7. How you really feel about Duane
8. How you really feel about Nigel
9. If given the opportunity in next week’s talk cast, what would you say to Rob Dawg?One final note: your brother’s call to last night’s talkcast violated the terms of the agreement - he opened up the subjects of “those-who-cannot-be-named-or-referenced.” He opened the can of worms - you should be able to freely respond and allow your visitors to comment. I mean, why did he call in? What did he hope to gain? Is he jealous of you and your success? What makes him qualified to make the statements he did? Are his views his alone, or shared by others? Or, is he looking to start his own blog (www.steveserin.com has a nice ring to it) and piggyback on your 15 minutes?
-
@59. Nigiri Yo
How did Casey turn cash so fast. Casey, come clean. You took a cash advance on one of the corporate credit cards, and you’re going to make minimum payments on it. Right? Be honest.
-
Casey,
You asked on the show if your site is helpful to me and I told you that even though I’m not into RE…it is stilllllllllllll helpful… and entertaining of course…hehehehehehehehehe.
Here is proof:Years ago I had a good job and got an SUV…but later on I decided to go back to school…medschool actually…which meant I would not be able to afford the payments. Anyway, some one falsely advised me that I could just turn the car back in “a voluntary reposession” is what they called it I think.
Of course the car got auctioned at a very low price and I got harassed by debt collectors for the rest. Granted I already had other debts from wayyyyyyyyyy before (like we all do) that I was already struggling to pay and my credit was not good enough to get extra loans besides what I got from school was for the basics.
Now the car people want to sue me and offered me a settle ment of half the amount that I would pay back in monthly installment’
HERE IS WHAT I LEARN’T FROM YOUR SITE…”the fact that I could get a 1099 next year”!!! From what I have learnt here…this would be regarded as “earned” income which could affect my school financial aid EFC status. Now I am consulting a “professional” to help me through this. Hey…how about a link for bancruptcy and general debt/money issues on your sweet links???
No need for tips…comments or suggestions from anyone here…I just wanted to show that yes…your site is “helpful” even for non RE people.
I suspect that you are so overwhelmed that even the calls from creditors “paralyzes” you. Like I said on your show…I have been skillful at avoiding debt collectors through the years while I try to get myself into a position to pay back my debts. No crime in that…as long as you are working on something. You are christian…but you are flawed…which is only human!!!
Get in good graces with Mrs. S. That is my ONLY fear…that this may ruin your marriage
Not necessarily because of your deads…but because of the viper tongues of these damn haterz!!! -
OMG. I just listened to that interview. his own brother came to tell him he was screwing everything in his life. And stupid Casey saying “Thanks man, I appreciate it”. I really felt pity and compassion for Serin family. Casey is ruining everything. I don’t know what’s gonna happen to you Casey, but if divorce is around the corner, you really deserve it. Get a job, pay back you debts, close that stupid blog. if you don’t you’re definitely a a****** . What do you expect ? getting 1000 or 2000 bucks a week ? Do you think you can keep that blog alive and people’s interest for more than a few months ? Come on…
-
@ W-2 Girl
Casey is taking the week off with that money. It bought him another week. Another nap filled, shiny week.
-
Casey, I recently discovered your site and I just listened to the whole talkshoe event from 5/25. You handled it very well, especially the calls from “haters.” Regardless of their points, you outclassed all of them hands down. Keep it up. You’re a personality now with decades of success ahead of you. Sure, a storm or two to weather in the coming months or years but that is always the case for anyone that has the guts to make their own path.
-
WOW!
This sarin casey can get away with _ALOT_ of Sh*t!
-
Great job on the Talkcast thingy. I have a few more ideas for you to monitize.
Divorce Mondays
Brother beating Tuesdays
Mother fleecing Wednesdays
Grifter of the week Thursdays
Sadistic Saturdays.
Skiming the collection plate Sundays.Keep you cool and scuttle your family, they are just pawns in this farce called life. You are like famous president, lay down the law.
-
@ Mocha #99
Go have another drink
Casey, you have Haterz all around the world! Check out the Frapper Map!
Sweet!
-
Something I read in here again and again is “openly share mistakes and help others avoid foreclosure. ”
The mistakes he shares but never takes the blame for, ok, I can handle that. We are all aware that he is an expert at “lip service”.
The problem I see is where Casey is able to benefit ANYONE facing foreclosure other than to refer them to a shortsale expert.
If they want to know how to get foreclosed upon, ruin their credit and that of their family all the while alienating the rest of their blood relatives then yessir! Casey is the man for the job. He’s got abject failure down pat.This site hasn’t helped anyone avoid anything.
Seriously, how can expect you learn to avoid foreclosure from someone who doesn’t know how to do it themselves?
In reality, this site has become a soap opera about a blog.
Delete my comments if you feel they are “disrespectful/inappropriate” if you like but there is not an untruth in them.
-
guy in boston
stick around, all the haters were once like you
-
flyingmonkeywarrior on the call in sounded desperate to pin casey down. sheesh she is turning me into a casey fan. she mentions how she is so moral and chit. then she mentioned she divorced. what a looser. it all made cents when she plugged en. those ppl are sad.
-
Oh man … what is now happening to your 2.2 million real estate empire …
OK so you can count this 131K in right. So you really now are 2.331 million empire owner. If my math is right. Bingo baby … you cant lose, how about you high roller your way on to vegas and bet it all on black … you’re a winner all the way baby …
Cool.
Cow_tipping. -
How I Legally Rob Banks
Date: Sat, 26 May 2007 21:33:51 PSTI never thought it would be so easy. It’s like robbing banks but
you’ll never go to jail!I’ve been making as much as 5 grand a day, and you can too with these
simple steps.See how I do it here:
http://dancingintothebigtimesp.....26&l=0
I’m willing to share this information with you because I want You to
Grow as Wealthy as I have.If this excites you as much as it does me, please forward this onto
10 individuals that you care about, who are interested in improving
their own financial situation too! -
Why don’t you submit your story to Slashdot? Think of the sweet traffic….
-
I cannot believe that you paid 330,000 for this 1100 sq ft stinker. The only thing good about it is the lot size at 8000 plus. Other than that, they screwed you..
-
That other Casey Serin (David Crisp) in Bakersfeild has “HATERZ” also!
-
@ 122 Guy in Boston
You’re a newbie. Take the next 3 days to read this blog from February to current, then come back here and tell us what you think.
-
hey, la-la-la-loser, how about getting off his back?
theres two ypes of ppl in this world: the boss and the floor hand.
your a floorhand. you need security.
casey is a boss, some one who has the balls to take risks. you are in no place to talk.
-
@#40 Mocha:
“So now what???? Procecute and jail everyone that lies on their taxes…”
Yep. Exactly. Precisely.
If you got a problem with that, then why don’t you pay the share that they’re not.
(Did someone bump the jukebox? It sounds like a different tune…).
“C’mon give it to Casey…he is definitely a personality…some one hire him…especially in public speaking or sales…he is smoooooooooooooove.”
No…YOU hire ‘em. Let’s see, what would you employ him to do?
-run a blog?
-rehab a house?
-pimp a ride?
-clean a pool?Uhhhh, nope, he hasn’t exactly set the world afire using any of those skill sets, has he?
And if you think he’s “smoooooove”, you haven’t been around the block enough…seriously.
Where do you think most of the Haterz came from, ace?
We’ve heard this mug’s con-games before…and from much BETTER practicioners of the art.“What does not kill ya only makes ya stronger kid ”
Illegally acquiring and irresponsibly squandering millions ust MIGHT be the thing that kills ya, get me?
But tell ya what, Mocha old chum, you remind the hobbit of how much stronger he is when he’s in bankruptcy, under indictment, and quite probably going through a divorce.
Tell him how “empowered” he’ll be when he’s living in a Jetta, and his family wants nothing to do with him.
It’s just a hunch, but I reckon that you’ll be long, long, gone at that point…like a fart in a typhoon.
asw: credit
-
DC economist and 115. @122 Guy in Boston
no you listen….the haterz have valid points which are obvious to any1 with common sense. However once you observe their behaviour on EN and hear them talk on the Talkcasts….you realise why casey serin’s haterz have their fair share of haters themselves! i started out (in APR) with no love for casey….but gradually came round to supporting him purely just to hate on the haterz. jeez their high handed self righteous hypocritical ramblings (see Nacho/T, etc) make IAFF relatively a sanctuary compared to the nuthouse that is EN.
-
@117 Sharky
Right on, Sharky! Tell it like it iz - apparently Mocha has a loooze screw, or not enough whip cream.
-
“What was the bank thinking??”
Another win for Team Casey!
-
flyingmonkeywarrior on the call in sounded desperate to pin casey down.
If you listen carefully, you can hear an admission to an interstate racket. J Edgar Hoover would be proud.
-
Transcript of FlyingMonkeyWarrior’s call.
“Looking back on it, it was definitely illegal to conceal the cash back at close from the lender. Okay? And I did it in a couple of different ways, sometimes on the HUD, sometimes not on the HUD. But even on the HUD, you can play tricks to make it look like the lender sees the item on the HUD but doesn’t think it is cash back at close.”
Also gob-smacking: Casey viewed a lot of his purchases not as investments but as networking opportunities:
“I wasn’t really caring about where I’m buying them, because I wanted to– again I was trying to be– I was getting ahead of myself. I was trying to establish other markets, I wanted to have all these connections and so I figured I’d do deals in different markets and kind of learn all the players and, ah, make some money.”
Casey, these wholesale cashback-built-in packages you bought from other investors? You were the mark. They saw you coming.
-
Here are a couple recent examples, one from the poster boy for mortgage fraud and escaped consequences, Casey Serin. Or as he was recently dubbed, perhaps unfairly, the most hated blogger on the internet. It turns out that Casey bought this house for around $330,000, as he went on a Western US real estate buying spree, right at the top of the US bubble in 2005-2006. By the time a foreclosure auction rolled around in February 2007, nobody wanted it. In the end, the banks lost more than $130,000,when the property
-
HATERZ…not necessarily the “critics”…just the really vicious, holier than thou M****** F****** that beat on KC like they can do no wrong!!!
He messed up…he said he messed up…we all mess up…not all of us even admit it like he did…give him a chance to right his wrongs.
Not everyone is born with a silver spoon in their mouth and not everyone already has a path paved in gold for them to follow.
He took risks and bent the law a “lil” while doing it!!!
Should he be “assasinated” for that???
Cmonnnnnnnnnn gimme a break!!!
Criticize or “chew him out” all you want…but must you crucify the guy???
Even as a supporter I know he made bad moves…but I still say his heart is in the right place…and I have faith that he will “do the right thing”!!!
He is trying to make something good out of a bad situation…so give the guy a chance will ya!!!
Its only been a few months…its gonna take YEARS to clear this S*** up!!!
The BLOG is still gonna be here…just tune in for the “next episode”…and get what you can out of it….foreclosure help…finance/debt help…interesting reading… entertainment… or just to laugh at the haterz…etc. etc.
No matter how bad things get in your life…it can’t be half as bad as the lives of these foolz…look at what they did to Kathy Sierra…and she did not even break any laws!!!
I LIVE my life in the “real world” and check out the internet for stuff that can help me in the REAL WORLD so I don’t have time to invest in creating a “supporterz website” like I would really like to…hell…even KC does not have time to post online regularly…but these haterz are sitting infront of their pc allllllllllllllllllllll day so they can be the first post on random forums and say firrrrrrrrrrrrrrst…or ummmmmm “murst”…hehehehehehehe…WHAT IDIOTS!!!
DO UR THANG KC
-
Why did you not post my response??
You are a thief. You will go to jail soon enough.
-
Don’t let some of those clowns bring you down Casey!
Everybody makes mistakes at some point in their life!
Some of them we learn from , some other, we never do!
Those are the ones to focus on! The problem is…real estate mistakes can get costly! So the best thing to do is control your real estate or buy it subject to, to avoid ever being a straw buyer again! And never ever be stuck with the liabilities! Up yours -
Rebuild your life Casey, Just be determined to be a success. Every time you fail, and learn from it, it is one step closer to a winning situation.
James Boyer
Keller Williams Realty
Summit, NJ 07901 -
@116. Lost Cause
flyingmonkeywarrior on the call in sounded desperate to pin casey down.
If you listen carefully, you can hear an admission to an interstate racket. J Edgar Hoover would be proud.
yes no doubt what casey did is illegal fmw was trying to get casey to admit he purposely broke the law. big deal. anybody that thinks admissions of guilt on this blog are going to be used by prosecutors is stupid. fmw was ill prepared for caseys squirming. she blew the call big time. FMW: asks Did you clean the pool?
Casey: i couldnt i was broke. what would you have done?.
she says
FMW: uh, i would never get myself into that situation.
Win Casey.
Casey got her good. yeah pretty much anybody would have done what casey did. duh. he has no money. she blew it.
You EN peeps are dopes dont tie up the call ins again unless you do a little bit of homework. First ask yourself why are you calling in? what do you want from casey? an admission? appology? Write some questions down. be prepared for his answers and have follow up questions for his replies.
FMW should have said she would have returned the ikea furniture. i bet the filing cabinets are still sitting empty.Mocha why dont you let casey borrow some of your money? let him buy lottery tix with it. if he wins he pays you back. if he loses then you then he dont have to pay you back because he has no money.
-
– “The monthly payment on 330K with 100% financing was a lot more then I can rent it out for, even with a lease option. I would be $1,000 negative every month if I would rent or lease it. The purchase price seemed a little high too. I knew there was no way I could turn around and re-sell for the same price. Especially since it still needed repairs! –
You should have calculated that way before making that commitment. I hope you Learned from that mistake.
Best of luck!!
-
Help for Texas and more
Sandy Pope
512-923-5214 cell or 512-267-2616 office
buyfromsandy@yourfinallyhome.com
Is the value of your home going down as well?
Do you owe more on your house than you could sell it for?
Has life made making your mortgage difficult, if not a strain?You don’t have to file bankruptcy or face foreclosure. There is now a solution “Short Sale”. You may have heard about it, but what is it? A Short Sale occurs when a homeowner owes more on their property than the property is worth, and the bank is willing to accept less. Let me help you save your credit. Would you like more information about Short Sales or if you have any questions, please give me a call or email me.
Sandy Pope
512-923-5214 cell or 512-267-2616 office
buyfromsandy@yourfinallyhome.com
No comments:
Post a Comment