A cold rainy day at the courthouse steps in downtown Sacramento. The gloominess is a perfect setup for the foreclosure auction of my Larchmont house. At the same time there was a nice freshness in the air and I felt a little bit of excitement/anticipation.
A small crowd gathered around the “auctioneer” listening for different houses being announced.
This is one laid-back auctioneer with a cool hat. No fast talk from this guy. Using the trashcan as a podium - classic! (People’s faces blurred to protect privacy. I took this shot with my phone’s camera to be more discreet.)
Funny thing is that when I got there I thought maybe some of the “fans” might show up. Well, actually one of the people who tried to buy Larchmont during the short sale was there. He is the guy who offered 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 (as long as I sign a 50K note) but the buyer got tired of waiting and moved on.
He has been reading my blog too. He saw a newspaper article about me shortly after he made that short sale offer and has been following my blog since. We exchanged business cards and talked about business for a bit. He was at the sale to checkup on another house and ended up leaving the auction early. He wasn’t interested in my house anymore.
Aside form that I didn’t see anybody I know. The crowd was pretty small and I decided not to video tape. I wasn’t sure if that’s allowed and I didn’t feel comfortable asking for permission. I guess I just didn’t feel like making a big scene at my own foreclosure auction, you know. I just wanted to watch and go. So as you can see I took some discreet pictures instead.
This was very educational. The sale lasted a little over an hour and there were two fifteen minute breaks. People seems pretty friendly though most kept to themselves.
It wasn’t too exciting because about half of the sales were rescheduled due to bankruptcy. When the auctioneer made it down the list to a house that was available for bidding he would announce the auction number, trustee company name, property address, APN numbers, and name of the owner and the opening bid. Then he would say “anybody interested?”. When nobody said anything he would say “Back to the bank it goes” in a matter-of-fact tone of voice.
Then we finally saw some action. One of the houses was announced and three people stepped forward, one by one, each with an open envelope in hand. They took turns flashing their envelopes to the auctioneer, opening the envelope slightly just enough for the auctioneer to glance at the paper inside. I assumed they were showing him the amount on their cashier’s checks. I was told they do it secretly like that so that the other bidders don’t see how much money they came with.
After that the bidding started. The laid-back auctioneer talked slowly in a bored tone of voice 216,000… going once… 216,100… anybody else… 216,150… going once… 216,300… One of the 3 dropped out right away and the two people who were left kept inching up 50 to 100 dollars at a time. The two of them stood on both sides of the auctioneer so close that they were whispering the bids into his year. A couple of people in the crowd got excited and cheered them on a little. I guess I wasn’t the only one who was waiting for some “action at the auction”. The bidding only went for maybe 5-7 rounds and it sold for a little over 217. A break followed to finalize the sale.
Finally after much anticipation my house was up last. I heard my name and address announced loud and clear. I was surprised to see that the opening bid was only 216,000. Remember the foreclosure letter indicated the started bid of 280,000.
“Anybody interested in this one?” said the auctioneer in his bored tone of voice again. Silence. “Back to the bank it goes”. That’s a phrase I’ve been hearing a lot today. (It’s now stuck in my head). “That’s it” he said and abruptly turned to walk back inside the building. The crowd quickly dissipated.
Larchmont property no more. This is my second foreclosure, after the Dallas house got foreclosed several months ago by the hard money lender. This was my first experienced visiting a foreclosure auction.
I feel a slight sense of relief. One less house to worry about. Now just memories. This was my biggest cash-back at close and the worst deal as far as numbers go. I’m going to have to write the full background story on this deal soon, including why I bought it, and what my plan was (or the lack thereof).
161 Comments
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You felt a little bit of excitement and anticipation.
God damn, does that make me chuckle.
Go figure.
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Looks like your house of cards is about to tumble Casey. Yeah, you don’t care. On to the next thing, what ever that is. I’m ticked off because loads O’ money’s useless comments get posted several times and my comments never get posted. That’s for starters
Well, now that all the 100% loans are gone and borrowers are falling out of my pipeline because they don’t have the down that is being required now, or the scores to qualify are so high, and belong to only 25% of the people. This whole thing has hurt more people than you realize, myself included. But what does it matter to you if the money is drying up for good loans for good people. You won’t be getting any loans soon anyway. Long as it doesn’t effect you, right? And what does it matter if the 2.5 mil that was loaned to you is gone and the lender doesn’t have it to loan to someone who is worthy. Yeah, doesn’t bother you any. Screw the lenders, right? They had it coming to them for being so stupid to fall for your scam, right? And what does it matter if the lenders are now so scared to lend to someone who had some bad luck but CAN pay it back. Tough, right? That borrower will have to suffer and who cares right? Doesn’t matter if Billy Bob cocky generation z loan officer without a license, helped you scam the money right? It’s both your right to scam and it’s the lenders fault for believing you, right?
So how are we honest loan officers supposed to close loans now that you and the likes of you scared the crap out of the lenders and they are picky to the point where files are being denied and my paycheck dwindles. Oh, it’s not your fault right? Everyone else was doing the scam, Right? Well the money has dried up because you scammers used the money up and there isn’t much out there to help those that really need it and are NOT in the investing game, but need a boost to keep their business afloat and employees paid. Oh but you didn’t hurt anyone right? The money you swindled could assist about 10 non investors get their dreams and needs met via a honest loan. But that money is gone. Now tell me why you should not go to jail? Tell me how you would feel if 2.5 million dollars was swindled from you when you loaned it to someone who wouldn’t pay it back? How would it feel if you were lied to? How would it feel if you had to declare bankruptcy because some greedy lair scammed you out of your money? Who’s fault is it? Would you have gotten the loan if you told the truth? So, who’s fault is it? You have no idea what is going on in the loan industry because of the likes of you. The money is drying up and loans are harder to close. People can’t get the money they need for living, much less investing. Looks like I ran out of compassion for you and woke up. You weren’t duped. You admit it was mostly your idea to swindle the lenders.
You coached the stupid LO’s to lie. And you don’t even believe that honest people exist. You posted above under another name saying everyone lies. You said everyone pretends. Excuse me? So now you are projecting your stuff onto everyone else? Not everyone needs to lie like you need to lie. Not everyone needs to pretend to be something they are not, like you need to. Stop projecting your crap onto everyone else. Not everyone has scammed so bad that they need to lie. Hard for you to believe, right? It’s beyond your scope of intelligence to even imagine that most people are honest and do not hide under false pretenses as you do.
So whats up with all this projection? You don’t know the meaning of win-win even if someone rubbed it in your face. All you know is win-lose. You win, lender loses. Now I’m disgusted with you and I see through you. You didn’t start this blog to help others to not do what you did. You started this blog to scam more people out of their advice and possible help. Just when the last house gets foreclosed on is when the Feds will raid your apartment and confiscate everything and dump out draws and make a mess and then haul you […] to jail. Then you can nap all you want. And then they’ll go after every one who scammed the lenders like you did. You didn’t need that money. There are people who really need the money and can pay it back but can’t get it now because of all the lender fear.
But you didn’t hurt anyone. Yeah, right. It was you who instructed everyone involved to inflate the value and get the cash back because you learned how to do it in the seminars. Now the greedy little, stupid, LO and appraisers who were your accomplices will go down with you. But you didn’t hurt anyone, right? Why are all the haters here? Because you and the people like you were inflating values by lying, and now they are priced out of getting a home just to live in.
And now they are priced out of a loan because of strict guidelines and high score parameters.
I misplaced my compassion and so I do not support you.
But I don’t expect you to understand any of what I am saying. Wait until the Feds go to the Mortgage companies where you acquired your loans and demand they pay the loans back, pull their licenses and put them out of business making them close their doors.
Wait until they demand the stupid LO’s who worked on your loans, pay back all the yield spread amounting to be upwards of 80k. You ruined alot of people.
But I don’t expect you to know what I am saying. You are incorrigible and selfish. You simply don’t care. You will do it again if given the chance because you do not have a conscience. People who don’t have consciences are clinically psychotic. Keep lying. Lie to yourself and everyone else. Keep pretending you are someone you are not. Keep projecting it onto to others just so you can justify all your criminal intent. It doesn’t matter because the end is near. Your blog Will be gone and so will you […]. 2 down, then 2 to go and then the door bell rings. You are not the boss of what happens. You have committed a white collar crime and will go to the Federal Penitentiary. Your intent to dupe lenders out of money is a crime punishable by a huge fine and a prison sentence. You will not get away with it. The end is here. There is nothing funny about it. The people you post here are all as dumb as you are. They do not and will not admit the inevitable that is looming. They do not know how to think their way out of a paper bag, but yet you post their pansy assed nonsense.
You had no intention of fixing those houses. You got the cash back and proceeded to wait for them to foreclose. This is not uncommon with criminals like you. Anyone who has anything of value to post never makes it past your monitoring. Your blog has become so vanilla I could puke.
I have to shower after reading some of the silly stuff posted here. I know there are better comments that do not get past the gate. […] Last week I spoke in a coliseum full of wanna be’s like you. My topic was rehabbing and I am sure it doesn’t involve standing in the back yard with a pad and pen waiting for a contractor to come. If she had her hair tied back and some old clothes on and tools in her hand maybe I could see it, but this picture is another ruse of yours designed to make it look like something it isn’t. Your real intent from the start was to get the money and run. You are not very good at scamming because you forgot one thing. You forgot to rent the places out and collect the rent and pocket that money too.
Ruby -
My in-laws live a few blocks from the Larchmont house, in exactly the same model. It mystifies me how you could ever imagine it was worth - or even could be worth - $330,000. I look forward to hearing that story.
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I sorta thought that “courthouse steps” was a figure of speech more or less. Strange way to settle biz in the 21st century, more like a 17th century operation.
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What about the other one, Modesto, wasn’t it?
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glad to be the first response on this thread haha
how come nobody bids for certain property? is it because starting bid too high? -
Casey,
What does your business card list as your occupation?
Couldn’t resist…
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Nice reporting Casey.
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Casey,
Can you post any more pics of you there? Also, did you hand over the keys? It would be great if you could follow up with a visit back to the house to note what the bank does.cheers,
UncleC -
You have to ask yourself — what’s going to happen to this blog once all of the houses are foreclosured upon? Is anyone going to care about some random, poor indebted schlub’s life? Just something to consider…
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You felt ‘excitement/anticipation’ at the foreclosure of one of your houses. After all the plans, ideas, greed, schemes and sweet deals it ends up going back to the bank despite a firesale price.
All carried out in whispers on top of a trashcan, by a guy in a funny hat.
It there is not an analogy in there for what is coming for the US/UK economies, I’d be surprised.
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No one showed up? Guess your 15 minutes are almost over, eh?
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In a way, it’s suprising that noone recognized you. I’d say a decent percent of people serious about real estate investing and speculation, particularly in California, have seen you in the paper or online.
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“exchanged business cards”……here’s a way to go.
Sell your business cards - seriously, dude, people will pay for that sort of stuff.
You’re famous (which after all, is what this whole troll is about).
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So, do I read the auctioneers’ hat correctly? Does it say “FLOP”? What did the rest of his hat band say? This is really important.
Burdett next then Muncy at the end of the month, same with New Mexico and then? Found the missing Utah check yet? Got rent? What are the awesome good things you’ve been meeting about. hints? sounds-like? rhymes with?
Keep it interesting….
tried, sortof, hard -
“This was my biggest cash-back at close and the worst deal as far as numbers go. I’m going to have to write the full background story on this deal soon, including why I bought it, and what my plan was (or the lack thereof).”
Why you bought it cause you could get the cashback, and so if you sold it for the SAME price, you would be making money and sticking it to the buyer.
Indeed, your plan might even have included the “I am facing foreclosure” thing as a way to entice buyers to get those properties off your hands for the same price you “paid” for them … so that you’d get to keep the cashbacks free and clear.
Casey, the authorities are now putting people in jail left and right, because of mortgage fraud. It’s in the news. It’s a matter of time.
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Hey Casey. The sales can and are alot of fun, especially if and when you might have bought the note at a discount while it was in a Red position on the banks books ! Imagine buying the paper for .40 cents on the dollar! You would have literally bought that note for $112,000 and had a Home for less than 37% of retail ! The home being declared back to the bank allowed it to be bought back by the bank and now being reclassified as an REO ! Lesson 1-5 in my Book shows you how to be and beat the bank!
REO Cash Flow & The Wealth Building System
NPL’s & REO’s -
Had to say again, It pays to Be the bank !
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GOOOOD MORNING CASEY!!!!!
I AM AN EARLY RISER!!!!
SWEEEEEEEET!!!!
Its been a while since I have commented and alot has happened. Auctions, foreclosures, fan mail…oh my.
Just think, only two houses left to go and your home free.
THE BIG DIRTY IS ALMOST COMPLETE!!!!!
AWESOME!!!!
By the way, how are those taxes going??? Dont let that just sit around. Screwing the lenders is one thing, but screwing the IRS is another. The IRS doesn’t take kindly to that kinda thing.
I would like to see your 1040 for 2006, I bet it’s a blast. Be sure to post it (with your personal info blurred of course).Have “G” take the pictures with you holding it, I bet that will be an “awesome” shot
We just finished our taxes and I have just enough money to invest in a new “farming” trailer. AWESOME! This will be my second this year!!! Im gonna be rich someday.
Have an awesome day.
Julian-The Original Trailer Park Boy
Trailer Flippin Guru
Former Best Friend to Homey da Clown
Best Friend to Ricky, Bubbles, Ogg and Casey Serinp.s.- My security word for the day was “awesome”…how neat is that!
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My next word is “juicy”
Where the hell is Lucy when I need her???
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Now that the property has gone back to the bank, does it mean that you are no longer responsible for it what so ever?
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Great news for Our Hero. I’ve gotten wind of a sweet deal for him in Sacramento. A great property is going to come on the market soon - it went up for auction at $216,000 but there were no buyers, so once the bank has to list it I’m sure he’ll be able to pick it up for a steal.
Sweet deal!
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First!
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Nice purse.
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I’ll bet the bank sells this place to some “looser” with a 9-5 job for 165K.
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so now what happens after it goes to the bank? can someone contact the bank and say offer $200k?
it is kinda weird that this was your 1st auction and consider yourself an RE investor. it’s like saying your a doctor without ever seeing the inside of an ambulance.
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Yo Einstein,
At least here in NJ, they have the decency to hold foreclosure proceedings indoors, in a courtroom. Guess that shows you how much regard Sac has for the whole process. With everything going back to the bank, there aren’t even enough potential Sheriff’s commissions to rate a room indoors.
Glad to see it’s still all about you. No matter how low you sink, how much abuse you catch or how humiliating the situation, you’re there. Is any attention better than no attention at all? Seriously, have you ever seen a therapist?
So- other than filming your own demise- did you do anything yesterday to actually help yourself or retire even a penny of debt?
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do you have the address or property ID of that house that sold for $217k. it would be interesting to see how much equity was in it.
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“At the same time there was a nice freshness in the air and I felt a little bit of excitement/anticipation.”
Damn, you truly are delusional. Are you into BDSM, too?
SC: winwin
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Holy Anorexia Nervosa, Casey.
What do you weigh? A buck-freakin’-ten?
Eat a sprouts sandwich, for God’s sake!
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Casey,
Sorry you got a flat tire. You realize that your roadside plan will pay for your tow, but probably won’t pay to repair the tire, right? I’d strongly consider getting a set of compatible, hubcentric steel wheels for the Jetta (I think the factory size was 14″ or 15″) and a set of all-season tires. They’d be less susceptible to damage.
And, we hope this doesn’t affect your curing your CashCall loan deficiency.
Regards,
CashCall Loan Servicing
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How much cash back did you get on this house? I’m looking forward to your upcoming background story on this deal, and what made you buy it.
Today’s posting was interesting and educational. Thanks.
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Dead god, it seems that ALL of Casey’s judgment is bad. He calls the dorky hat the auctioneer is wearing “cool.” But then, this comes from someone carrying a man-purse, so what do you expect.
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A few suggestions:
Add additional advertising to your pages here. You are wasting page views.
You also mentioned the “full background story” - save it for the book.
Here are your “sweet deals” - a book and advertising. I would start contacting publishers and Google ads. Also put in a call to Jamba Juice - I never heard of them before this blog - but will try your combo when I come across one.
Good luck - you are already rich - you just need to learn how to trade your popularity into cash
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so what does “Back to the Bank it goes” mean to you Casey? Are they coming after you for the money? Is it really “over”, as you put it? What are the next steps?
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Casey get excited when property foreclosed.
Casey emotion programmed backward.
Foreclosure take place on top of garbage can.
Ha ha.
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Nobody wanted your house because it was a piece of crap. You shouldn’t have bought it in the first place.
I hope you learned that you can’t get something for nothing. And that it take work to keep the properties in your hand. But with your sense of entitlement, you’d be back “loosing” more money you don’t have. We’ll now have to pay for your screw up.
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If I send you a self-addressed, stamped envelope, will you send me one of your business cards?
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Anti-spam word = cashback.
I feel dirty just coming back to this sleazy blog. -
I feel a slight sense of relief. One less house to worry about. Now just memories.
And, of course, the fact that you now have multiple foreclosures on your credit record …. but hey, why worry about that? Your credit is screwed already. So it’s all good!
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Get used to that courthouse, i’m sure you’ll be in and out when the Feds come after you
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Casey:
If the bank does not bid, but simply starts the bidding at 216,000, how does the bank calculate your deficiency? In other states the lender has a third party make an opening bid, which then sets the price on the record, and establishes the deficiency.
I think you are looking at a $114,000 debt from just this one house. When someone goes to collect it you are going to lose that brave front in a big hurry. You are in for a world of hurt.
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“Is anyone going to care about some random, poor indebted schlub’s life?”
That may be the most honest thing you’ve ever said/asked.
The answer is NO.
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Oh, and nice purse.
Is that where you keep all the stuff that you bought on (past due) credit?
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@2. Ding Dong-tthe feds are at the door
Do you want some cheese with that whine, too? I agree: The idiot lenders who gave out hundreds of thousands of dollars to anyone who could fog a mirror without so much as an employment verification DESERVE to loss all of that money, minus whatever they make back by selling s***** -shacks that used to go for 500k to Caseys of the world.
No more 100% loans unless you have a decent credit history? Oh, the humanity. Those people had no business buying houses to begin with. Once the housing slowdown shakes out all of these junk buyers, maybe then we’ll see some sanity in residential RE pricing again.
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Casey — did you know that you can make a fortune buying foreclosed properties? I am sure that you have fallen for that pitch before. Personally, I would not want to fork over cash on an “as is” sale with a cloud over the title. Amazing to see over $100,000 in equity dissapear so fast. Easy come, easy go.
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Casey:
After all the houses are gone you can post about all your new sweet deals like the apartment (or development of the Saca condo towers in Sacramento)…
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I feel pretty stupid, but now I understand you, Casey.
It was the whole “anticipation / excitement” thing.
Dude, you don’t give a damn because it was never your money to begin with!
You never worked hard for that money. You never sweat a thing. All you ever did was lie and cheat your way to 8 properties, while cheating a bit more in order to get cashback deals.
Anything you got out of that transaction (Hawaii, Jamba Juice, stupid blue ball, laptop) was an extra.
So now that you are losing everything… well… it’s as if you weren’t losing a thing. Because, technically, you aren’t. You gambled with someone else’s money, and now you feel all giddy about it.
I think a long term vacation on Club Fed will be described by you as a “sweet sphincter-relaxing experience”, too.
sc: MILLIONS
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casey do not listen to any of these people, it seems to me that they are perfect and have never make a mistake
how sad is to see people who can only feel better about themselves by putting the weak down, they dont realize that they come here to insult you because they cannot stand their own despicable lives..sad. -
anti spam word was “success.” I believe that is only reference to the conecept on this blog.
Anyhow….I’d be feeling VERY nervous about that $50,000 promissory note if I were you. No where in the language of the document is an indication that this offer was tied to a specific short sale. If I were Countrywide, and just saw you turn $330,000 of loans into a $216,000 foreclosure, I’d be doing everything in my power to squeeze every “dirty penny” out of you….including pressing you on the promissory note (which, it also seems to me, would not be subject to discharge in a bankruptcy proceeding).
Between Cashcall and Countrywide, I’d say you phone has got to be ringing off the hook. Also….curious to see how many 1099s you receive……you might have slipped the noose as far as tax liability for 2006 goes, but man….2007 is gonna kick your behind!
With all that…glad the air was fresh with the sense of adventure you perceive before embarking on the next chapter of your life….
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@ 23 Firstboi
Good job, you’re as quick on the draw as Casey. -
This is sad. The bank is screwed, the investor is screwed, the citizens are screwed, and economy will be screwed. I have to go to work now.
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A couple of haters tried to post comments as me. I cleaned those comments up. Next time I’m just going to delete those. I have no patience for it. Sorry for the confusion guys.
By the way, to clarify, the Modesto property auction has been delayed because the bank accepted the offer and is reviewing it right now.
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@ #10. You got me good on that. Now I know how Casey feels.
Should have know Casey couldn’t be honest.
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ruby from post #2 still doesn’t get it. where do you think the money came from in the first place? the fed creates it out of thin air and then loans it out and charges usury fees. it is a ponzi scheme by an illegal institution that answers to no one. dont demonize casey because greenspan kept criminally pumping liquidity into the housing bubble. granted casey wasn’t as bright as others and got nailed at the top of the market, but it is people like you that keep the pyramid bank fraudsters in business to begin with. go look at M3 levels.. oh wait you can’t because the fed decided not to publish them anymore. hmmmmmmm odd huh? wake up people.. this thing ends badly.
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#27 clotpoll said, “At least here in NJ, they have the decency to hold foreclosure proceedings indoors, in a courtroom. Guess that shows you how much regard Sac has for the whole process. ”
you know why they hold it in a courtroom?… because it’s freakin 10 degrees with 12ft of snow outside. you wished you lived in a warm area like CA. sucks to be you in NJ
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Casey,
You know what would be interesting - and educational - is if you could record some of the collections calls you’re getting from Cash Call and your lenders … and post them here on your blog.
It would be interesting to understand the kind of tactics they are using in the current market environment to get their money back…
Soup Nazi
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Hey Casey,
You sounded pretty down. Get a hold of yourself.
My anti-spam word of the day is “sweet”…Guess what, I drank some wheatgrass juice the other way.
SWEEET! tks.
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Mr. Pintero would like
to help you.[Chuckles]
But he won’t.And why not?
Well, first, you haven’t told him…
who made the loan,
and second,we’ve spent hundreds
of thousands of dollars….on shyster flippers
just like you…because of shyster flippers
just like you! -
You sound down Casey, a wheatgrass enema is just what the doctor ordered.
http://www.jambajuice.com/what/sunshinein.html
It is said a shot of wheatgrass juice can help cleanse the blood and other tissues, but just how much of the green stuff do we need? Meyerowitz suggests 1-2 ounces of fresh squeezed wheatgrass juice daily, although therapeutic doses can be up to 4 ounces. For the more dedicated enthusiast, wheat grass can be taken as an enema!
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Casey,
So, are you going to repay the money you got under the table at closing to the bank to reduce the bank’s loss?
Didn’t think so.
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Casey, for once I am going to pay you a sincere compliment: this was actually an interesting and informative post; I’ve often wondered how these real estate auctions worked. As another poster suggested, it would be nice if you can continue reporting on the bank’s future actions with this house. Thanks.
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Does anybody know, if Casey had rented the house out, how long following the foreclosure, the tenant could stay in occupancy?
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BTW, what on God’s Green Earth were you thinking when you paid $330K for that POS?
The other 50 homes in the neighborhood block only comp at roughly $275K.
And not only did you grossly overpay, but you planned on sinking another $10 - 25K into that rat trap. Truly amazing.
What were your total expenses on that debacle anyway, including carrying costs, insurance, utilities, etc. Please be certain to include those nuggets that in your “report.”
LOU
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“A couple of haters tried to post comments as me.”
Looked to me like they *succeeded*, Casey. See how that try-vs-do thing works?
“I’m going to have to write the full background story on this deal soon, including why I bought it”
I think we’re more interested in *how* you bought it. How did you get the loans? And how did you juice up the appraisal to get this “biggest cash-back at close”? And where did that money go?
Oh, and how’s the sweet Jetta?
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Casey, the stock market is crashing, which might be time to buy some stock! I bet you could do a bunch of “sweet” deals that way!
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Hi my name is Borat, Casey come to Kazhakstan I will teach you the chicken and rooster business. If you screw something so simple we will chop of your body parts.
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Wow! your first foreclosure pics!
I’m sure you will be saying “It’s all good” when the bank sells the house for 150K. Then both lenders will get judgements against you for the 180k difference. I am sure that since you lied on the loan apps, a judge will be happy to enter them against you. Do you plan to attend the hearing to protest and claim that the house was reallly owner occupied?Lather rinse and repeat for the rest of the houses.
Enjoy!
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This is the problem with no money down loans. The house is getting foreclosed upon and you feel relief and excitement because you’ve invested nothing so you don’t give a crap. Even if the bank had required you to put down 10 grand, you’d have much more of a vested interest.
You’ll do the same with the corporate credit because you’re not an investor. The word indicates that you’ve invested some of your assets.
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“A couple of haters tried to post comments as me.”
Nono, they actually succeeded, so the sentence should read:
“A couple of haters posted comments as me.”
A very good, real life example of when not to use the word “try”.
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To the people who whine about “good people” who are screwed by the Caseys of the world:
In short, stop the whining, please (post #2). The system is broke and due to the laws of accelerating natural selection that exists in any economic system, any niche, legal or not, that avails itself to be exploited will be the subject of exploitation.
These liar’s loans are a perfect example. The government allows hundreds of billions to be lent out dirt cheap to float the economy after the dot com bust, and on the fringes of this exodus of cash are the vultures of the world milking the system for everything that it has.
The truth is that if Casey would have attempted this three years ago, he probably wouldn’t have bought one house after another to service increasing debt. He would have been flipping houses left and right (due to liar’s loans) and probably would have made $300k or more. And that’s with an apparent lack of work ethic and a lack of executive functioning that is common with his generation (age 25 and below, approx).
Casey does have a talent, though. Somehow, his photographs capture his humiliation with abject, belly-aching humor. We’ve got blue balls, offices that take days to organize, unopened letters that should take minutes to open an a couple hours to browse through; above we have a picture of him with a man-purse that a decade ago would have labeled a man as being a homosexual.
Good times.
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67: Lou
“What were your total expenses on that debacle anyway, including carrying costs, insurance, utilities, etc. Please be certain to include those nuggets that in your “report.””
That is LOL funny. There were no carrying costs. Casey never paid any of the bills! It is friggin hilarious that you thought it could be otherwise.
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Another thang:
To the chicks that obviously have a crush on Casey and are rooting for him as if he is the next investor messiah, find yourself a sucker slacker on Craiglist’s for j.h.c’s sake. Good god you chicks are pathetic.
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Hmmm, interesting. My most sarcastic post ever and it is posted whereas pretty much all my other posts did not make it through moderation even though I asked what I thought were good, valid questions. What gives?
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“66. Bob
February 27th, 2007 at 10:08 am Does anybody know, if Casey had rented the house out, how long following the foreclosure, the tenant could stay in occupancy?”Bob,
Not completely sure of the laws in CA, however, having purchased a few properties at the foreclosure auctions in several states, with tenants/former owners still in them, here is how it worked out.When the final judgement came down, and auction took place, the judge also issues an order to the Sheriff to remove the occupants.
Once in a while, in some jurisdictions, you must file an eviction after you win the auction and get tenants out yourself.
The thing is, with a judicial foreclosure, everything is wiped out, so the tenants, lease or not, would have no claim on the house.
Had Casey rented the houses, collected rent, and not made payments, he’d have cash on hand……..to pay attorneys for representation in criminal matters………with equity skimming being just another added charge.
Take a look at a mortgage or deed of trust as well.
The remedies for the lender are quite clear in those.
One of them is assignment of rents……..meaning, IF the house has tenants, the lender can have the tenants pay them, not Casey.Casey, you went about this the wrong way anyway.
Forget short sales, lenders don’t want to do this that often, even though the current market shows they should. (Lenders obviously are not smart, heck, the made loans to Casey)The proper approach would have been to find buyers for each property, at prices that were accurate to value, and contingent on lender discounting the notes.
Then, use your new corp Casey, and offer to buy those notes at discounts.
You can then use the buyers money to purchase/extinguish the notes, and be done.then again, this makes sense, so forget it……….oops, you already did.
Have a great day!
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I’m looking to sell a building lot 20 miles from Times Square, NYC.
I’ll hold a 2nd as down payment.
Anybody in ??? -
G’Day Mates!
Ozzie Tim Here.
Benn on walkabout for a while and just thought I’d check back in. Bloody hell, mate! You’ve got kangaroos loose in the top paddock sure as day. You’re as real as Clayton’s
I go off for a couple of months and you’ve really screwed yourself. Ther’e a lot of those haters giving you a gobful. If that were me there’d be a liquid laugh on those courthouse steps all right. Nobody there even tried bidding a mate’s rate. You’re definately a no-hoper. You can’t learn from your crash and burns and even get excited about going to see yourself get foreclosed on.
Did you try to nut out something with any of the other lenders? Better do it fast. If not, I’d sugget an O. S. to stay low. How’s the offsider’s help?
Well, I’ll just sit back and enjoy a coldie here in th etrain station waiting for the wreck to continue. Couple more coldies and I’ll be full as a goog.
Hooroo.
Ozzie Tim
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Damn man… Your phone takes some high quality pics… What type of phone is it? My Treo takes horrible pictures compared to that!
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At this point I would suggest just moving to another country. You will have a fresh credit rating, and won’t have to worry about the debt or the collectors
. -
I like the auctioneer’s hat a lot more than I like your murse (man purse).
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Love the purse. Fabulous. Be sure and take it with you when you’re sent up the river.
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Hey everybody…
Lookeee what our boy and his ilk did to the Dow today. Down 415 and change on fears of sub-prime lenders and borrowers (among onther items).
That sucking sound is billions and billions of dollars leaving the room from mortgage fraud.
–Bob
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Prlinkbiz is asking us to please “bare” with her. I know her saying is “I do people;” what I don’t know is what she charges. At least THIS blog is free!
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I blogged about this auction here: http://tinyurl.com/yqvlcd
That house was never worth it.
Casey, this was one of your better posts. Thanks for the insights and pictures of the auction.
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“I was surprised to see that the opening bid was only 216,000.”
“I feel a slight sense of relief. One less house to worry about. Now just memories.”
You’ve got some sweet tax surprises coming your way for ‘06 and ‘07. Every shortfall the bank takes and forgives, they write off. Every penny they write off for bad loans to you will be reported to the IRS in the form of 1099s that you will then have to reconcile (pay taxes on).
Bad loan write-offs don’t just disappear into thin air, pal. And the IRS won’t be as nice and forgiving as the banks.
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That handbag really goes well with your coat.
Does that coat manufacturer make jackets for men too?
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With that handbag you are the very picture of suckcess.
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“Can’t talk now, I’m too busy massaging this deal until it gets ready to be juiced. I like to massage a deal for awhile, you know, to really get the feel of it and I like it when I get positive feedback from the customer. Oh, Oh, Oh… it sounds like we have a winner! It’s win-Win-WIN time. Oh crud, now I need to wash my hands of the whole thing. I don’t do payment plans. You should know that….”
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Wow RK article on how the housing market and the market in general go bust. I believed this guy was pumping RE but I guess he’s taming down.
Goes to show what a 4% drop in the Dow will do to people lol!
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Heard that Fannie Mae is changing its sub prime lending rules - good to see Casey had a positive influence on the world…
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You gave this guy money and never bothered to listen to the free advice he was giving out?
Check it out: http://finance.yahoo.com/exper.....cher/24515
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Nice manpurse. They will love you in prison.
JudgeDredd
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You should pay more attention to the fact that no one was interested in the house YOU THOUGHT WAS A GOOD INVESTMENT.
Think about that for a while.
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seems like ancient Uzbekistan was pretty advanced in mathematics.
too bad you seemed to have ‘fell forward’ in your math skills
****
In Medieval Architecture, Signs of Advanced Math
http://www.nytimes.com/2007/02.....7math.html -
71. exurbannation@blogspot
February 27th, 2007 at 10:49 am“Lather rinse and repeat for the rest of the houses.”
Just don’t drop the soap!
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By the way, to clarify, the Modesto property auction has been delayed because the bank accepted the offer and is reviewing it right now.
Which is it - they accepted the offer? they’re reviewing the offer? One or the other….
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“Funny thing is that when I got there I thought maybe some of the “fans” might show up”
Fans?…lol ha ha ha ha, sorry havent laughed that hard in a while.
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Hi Casey,
Just wondering - what do you DO all day? What did you do today, for example? Please be specific. Who did you call? What did you talk about? Did you fix the Utah payment yet? Why/why not?
Just to show you, once again, how easy this is - today I woke up at 4:45 am (try THAT kind of early rising!), went for a jog but it was still too snowy to stay out long, made coffee, showered, read the washington post and had breakfast, and went to work.
Worked for about 9 hours in my nice bureaucrat job, hit the gym for a couple hours, then came home, made dinner, paid some bills (!!!), and now I’m going to go see a movie.
See how easy? YOU try!
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57. Rat
February 27th, 2007 at 8:50 am“ruby from post #2 still doesn’t get it. where do you think the money came from in the first place? the fed creates it out of thin air and then loans it out and charges usury fees.”
Dude, shouldn’t you be out filing a lien on a federal judge or something?
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I’ve never commented here before but I’m compelled to simply point out that it’s clear there are always people who will assume “it’s all about them.” The commenters who think Casey Serin has any effect on their ability to buy a house need to grow up. There is plenty of liquidity out there for borrowers with good scores. That banks are tightening on the sub prime end means they need more regular business, not less. For those who don’t know, banks make money primarily by lending money. If they have lower volume in one area, they need to loan more money somewhere else.
So the fact you don’t have a house has nothing to do with Casey — I don’t want to hurt your feelings but I suggest that it has everything to do with you. BTW — you could have had my rancher in Citrus Heights — it’s in escrow right now for $335K. I know I’m fortunate to find a buyer in this environment, but I also believe they will not regret the decision in a few years — meanwhile they have a good house to live in, and that’s what it’s really all about.
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I’m supposed to feel bad for the first poster - the LO? Are you stoned?
You didn’t your due diligence, tard. Sorry, but you aided this clueless scammer.
What next the appraisers are going to come in and complain about their fraudulent appraisals?
HINT: You took a turn screwing us too Mr./Mrs. LO. Good faith much?
“I had a stack of loans to process! It was Christmas and my commission was going to pay for the holidays!”
\
:joshua: -
If (and it’s a big if) the lender decides not to sue you into oblivion or prosecute you criminally for loan fraud, check your mail for the I.R.S. Form 1099-C Debt Cancellation form. It will show $330k - $216 k = $114,000.00 in income for you as a result of this foreclosure sale alone. Here’s what that form does: it reports the loan cancellation as income to you, on which you now must pay taxes. While you might file bankruptcy and discharge the loan deficiencies against the bank, you will never - ever - discharge a federal tax judgment or lien. If the other houses tank the same way, you might be looking at a half-million or so in “income” the IRS will treat as taxable. It would take a CPA to figure out what that means to you in terms of how much cash you need to come up with to satisfy Uncle Sam, but I’m sure it will be a substantial amount. Good luck.
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86. Bob Prector
“That sucking sound is billions and billions of dollars leaving the room from mortgage fraud.”
Thanks to snowflake, there will be a lot more sucking sounds.
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Dude that’s not a purse, that’s a “man-bag”
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Year of yin fire pig may not favor Red Monkey Black Dog in clash penalty relationship. Fire and water create element conflict and wood fuel fire. No luck for George W. Bush and Osama Bin Laden. Pig not interested in pushing ahead at cost of others. Many foreclosures ahead. Don’t waste time waiting for rabbit to hit tree and die to catch.
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Casey you know you would make a good reporting/journalist. Your doing excellent on the blog. I think that is your natural calling. You need to quit this real estate idea asap because you have no clue about it and pursue reporting/journalism.
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Folks, lets keep the facts straight.
The banks paid $280,000 for the house and paid Casey $50,000 for finding it for them. -
Excellent follow through here. It’s clear that Casey is starting to be responsible about his situation. Watching a home go into foreclosure is certainly productive work at its finest. At least this is staying on top of the situation. A new habit is being formed.
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Hey Casey,
Thanks for the informative post– not to mention the photos; those really take some of the mystery out of the foreclosure auction event. As usual, 99% of the posters here were proven to be total incompetents (e.g. the oft-repeated idea that the bank has a representative at each and every foreclosure auction– please, they’d need to employ people all over every state to do that!). Actually, I just put in an offer on a REO apartment in SF.
I offered the bank $170k less than the chump paid for it last year. We’ll see how that goes.
Verification word: itsallgood (for me, at least).
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Ho Ho Ho - It’ Santa Flipper Clause
Casey,
I believe that this forclosure officially puts you on the naughty list.
Santa F. Clause
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my antispam word was loose. As in looser. So funny I forgot what I was going to say.
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Why was the opening bid at only 216,000?
Did the lender pick a price lower than what was owed hoping they could sell it at the auctioni? -
Stevie G,
Casey has an HTC Apache (branded as Audiovox PPC6700 on Verizon). I used to have one of these and for a Windows Mobile device it’s pretty good. It does indeed have a nice camera.
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@26. yoyo
“it is kinda weird that this was your 1st auction and consider yourself an RE investor. it’s like saying your a doctor without ever seeing the inside of an ambulance.”
You must be new here. Welcome to Casey’s fantasyland. In his world everything is what he wants it to be. In his make-belief world he’s a successful RE mega-mogul and there is no such thing as failure, only sweet win-win opportunities, everywhere.
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Is case y a citizen?
Either way, he is planning to leave the country
when he is held accountable for his mess. -
Good post. I always wondered how those auctions went. Thanks for showing us.
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Did you start buying stocks today????
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Those a***oles from Uzbekistan are giving a hard time to the Great People of Kazakhstan!
PS. My iPod is cooler, Borat! Great success!
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“I was surprised to see that the opening bid was only 216,000. Remember the foreclosure letter indicated the started bid of 280,000.”
No, the foreclosure letter said that you *owed* $280K. It also said “it is possible that at the time of sale the opening bid may be less than the total indebtedness due”.
If you’d actually *read* your mail this would not have been a surprise to you.
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Thanks Casey for the recap. (Warning: the following may sound harsh.)
As I ran through this post, what struck me most is what wasn’t said.
1. What happened to Modesto which was also supposed to go down? (Thanks for that update.)
2. Why were there so few bidders at a foreclosure auction? (Answer: It’s a barometer for your local real estate sentiment.)
3. Why were there so few bids made? (Answer: Same as number 3.)
4. You seem to be prepared to let your remaining homes go back to the bank.
5. You have made no further real estate deals. No bird-dog deals, no subject to’s.
6. Are going to wait until all your houses are foreclosed before you start looking for a job?
I liked the tone you had in this post. You said you were excited in anticipating the auction, like maybe something interesting would happen or somehow you would get saved.
Reality is your efforts (or lack thereof) in the past nine months have done nothing to prevent foreclosure and the fact is that if you don’t declare bk now, you’ll lose the remaining three houses to foreclosure in exactly the same way you lost Larchmont.
You can still postpone foreclosure on the remaining houses, but you’re going to have to declare bankruptcy, move into a primary residence and get a job, or two or three.
Unless you’ve got income and prospects you’re not disclosing on this blog that’s your only option. Thankfully, this foreclosure will free up some time for you to look for and start a job.
You better get cracking.
Nigel
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LOL…the anti-spam word was “sweet,” as in “sweet deals!”
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Casey:
You have missed it but the WSJ had an article today on people sitting on balls while they work (I swear I’m not making this up). It looks like you were on the cutting edge with the ball thing and leading the pack to be one of the first Sac flippers to give me your property…
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@ #75. sean-sisb
Sean: You used to post on the f****edcompany.com message board under several monikers, including sean_in_south_bay, staunch_republican, and california_boi.
You got fired from a programming job that another poster got you by showing up to work late. Then you laid around for several months till you ran out of money and moved home to live with your parents.
You started delivering pizza, which is still your main job. You told the entire board that you were going to college at UC Berkeley. In fact, you told the board you were a student there for several years. YEARS. You made up stories about classes and parties you went to and living in the bay area from 2003 to 2006.
Then, a few months ago, after FC was closed and everyone was posting at FFC, you got stoned one night and admitted that you went to Berkeley for six weeks and dropped out. All your stories about college and your classes were a lie.
Not that everyone didn’t already know after the board had gotten hacked last fall and your IP address was posted. You were living with your folks again.
You’re a 32 year old pizza delivery driver and a stoner. You have no right to act pompous and talk down to Casey or anyone else.
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Tell us about the property that actually sold for $217K (street address etc) - was it a JUICY deal?
Are you on a wheatgrass fast or something - is that why you so skinny?
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Well, I noticed your Rio Rancho property is now on the MLS for $399,900…
That actually seems to be quite a bargain for the area.
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From the SacBee:
The trend raises questions about whether a looser lending standard will affect the market during a downturn.
Some fear owners with none of their own money to lose may have fewer qualms about walking away from homes if they get behind on payments.
That could aggravate rising foreclosure rates in regions like Sacramento where the housing market has slumped.
“I don’t think there’s a real significant problem attached to 100 percent financing per se,” says Scott Thompson, a partner in Carmichael-based Mortgage Resolution Services. “The problem comes when the borrower with 100 percent financing goes beyond that and adds adjustable-rate features to it.”
The real estate industry says its more relaxed lending methods — often bearing higher interest costs for borrowers — have helped boost state and national homeownership rates. It’s also proved a significant safety valve for home builders and other sellers during an era when U.S. saving rates are at their lowest levels since the Depression.
“I don’t think it’s going to have an adverse effect on the marketplace,” says John Marcell, owner of Better Mortgage Brokers Inc. in Upland. “Just because people haven’t put any substantial amount into the mortgage doesn’t mean they won’t make the payment.”
Ha ha
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Back to the bank it goes
I think this should be the new site motto to replace the current “Getting Saved” as it is obvious you won’t be…saved, that is.
It amuses me that you promptly changed the spam words based on a poster’s suggestion but haven’t mustered the energy to fix the Utah mess…or have you? Are you planning to let that innocent family take the fall for you after investing $70k into that house?
P.S. My spam word is “sweet”; I think I’m going to be sick, thanks.
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So while you were walking away way from the courthouse, you never mentioned G’s credit to her..but she was thinking “Casey, screwed my credit now!”.
You, however, were explaining to her your next big “sweet” deal. And discussing the possibility of a large “Wheat-shot Jamba” as a reward of the morning’s hard work.
You’re the William Hung of Real Estate, Casey. Your truly are.
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I thought you got people to help you with the moderating to improve posting time. Its only getting worse and worse when the same comments have been here for 2 days.
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Casey:
Does the homeless guy know you lost the house?
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This is actually the first interesting thing you’ve done with this blog in a long time. I second the call for recording debt collection calls and posting them. I don’t really mess with credit cards or loans too much, but I saw a movie recently on the topic of debt collection that really illustrates how screwed up this country’s financial system is.
Anyhow, thanks for the look into the world of the massive debt. Good luck with all that.
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The low starting bid was because of this
266K - 50K promissary note = 216K needed from 1st lender.
They want you to pay the 50K note dude
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#136: No, he’s not. William Hung actually made money from his singing.
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“Are YOU facing foreclosure? E-mail me for help!” proclaims your site header. What, are you selling cyanide pills now?
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Casey -
In all seriousness, man - at what point do you take the “Getting Saved” tagline off your blog header graphic? The life preserver is still relevant - note, there’s no one actually clinging to it - but do you really see salvation happening here? All I see is a drowning guy scrambling desperately for air.
Maybe “Blowing Bubbles” would be a more accurate tagline.
On a number of different levels. -
Hey,
Why do you only allow posts that you agree with??I agree with everything Ruby said in post #2. Ding Dong - tthe feds are at the door!!
Everyone should read that post twice.
And Casey, you should not only read it, but print it out and tape it to your mirror to re-read every day.
Why won’t you get a JOB?????
Why won’t you answer that question on this board??
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Did anyone happen to notice the new little tag at the top of the page? “Are you facing foreclosure? Email me for help.”
Is this for real? I was just sitting back and having a good time watching the wreck. But this is just too much. I don’t think anything on here has proven “expert” status for Mr. Casey to qualify him to help others.
I for one would still also like to see the daily task log. I get the impression there is more to this than we know…. There are never that many coincidences in a row.
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I believe that comment 143 is on the mark. I think we’ll still that 50k note hanging around for a while. When do the balloons come due?
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BTW - SISB == owned.
sc : success
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@108
If (and it’s a big if) the lender decides not to sue you into oblivion or prosecute you criminally for loan fraud, check your mail for the I.R.S. Form 1099-C Debt Cancellation form. It will show $330k - $216 k = $114,000.00 in income for you as a result of this foreclosure sale alone. Here’s what that form does: it reports the loan cancellation as income to you, on which you now must pay taxes. While you might file bankruptcy and discharge the loan deficiencies against the bank, you will never - ever - discharge a federal tax judgment or lien. If the other houses tank the same way, you might be looking at a half-million or so in “income” the IRS will treat as taxable. It would take a CPA to figure out what that means to you in terms of how much cash you need to come up with to satisfy Uncle Sam, but I’m sure it will be a substantial amount. Good luck.
Probably Casey won’t have to come up with any cash at all. To the extent of your insolvency, cancellation of debt is NOT ordinary income, whether you petition for bankruptcy or not.
You might have to sacrifice some tax benefits in future years, but it usually doesn’t create an obligation in the current tax year. See section 108 of the tax code for more details.
By the way, that doesn’t mean you don’t have to file a return. The IRS will definitely assume it is taxable ordinary income unless you send in the proper forms and a balance sheet.
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re: post 129 from Former FCer;
LOL! Thank you for that.
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“Back to the bank it goes!”
It opened at over 100k less than your purchase price and still nobody wanted it? This is very interesting. Look how long you are keeping these houses Casey. You never made any payments. When it finally went to foreclosure nobody wanted it.
The longer the banks delay and don’t sell the house the longer they keep the real losses off their balance sheets. The longer they help this bubble stay up.
This is the biggest bubble ever. You know that “wave” effect you see on the surface of a huge bubble in a science museum right before it bursts? You see the waves and know it cannot sustain itself but still don’t know WHEN it will burst.
This is happening to every “Casey Serin” nation-wide. “Back to the bank it goes!”. But lets count the interest as income (even though we never any payments) in the meantime and keep the fake “appraised value” under our asset column.
This is a Real Estate accounting scandal. You can bet there will be congressional hearings on this after this bubble pops.
No payments from Casey for months before actual foreclosure sale? 100k less then the asking price and still no offers? Back to the bank it goes?
The Real Estate bubble is worse than I thought. People actually have to buy the houses for them to record the losses.
Amazing.
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Hey, kid;
Glad to see that the wheatgrass is doing such a great job on what’s going to be your only remaining asset…your colon.
Fact is, hobbit, pretty young men like yourself, in certain circles, are just another commodity to be bartered and sold.
With your photos, your organically cleansed colon, and your pouty little mouth, there just might be a bidding war to see which contract prison you get sent to.
Convicts?
Heck no, kid, I’m talking about the underpaid public servants at the California Department of Corrections!
Y’know they also have to try to pay their mortgages in the housing market that has been so over-inflated by schmucks like yourself.
So why SHOULDN’T they make a buck from interested parties for the commodities that they control?
Imagine some 9-5 public sector “looser” with a big box of folders on his desk in his cubicle.
The folders are full of Casey, and all the other intake of the California Criminal Justice system.
This “looser’s” job is to determine which “House of Pain” the folders in the box get sent to.
The “looser” makes $17 bucks an hour…
Figure it out if he’ll “make bizness” or not.
The auction was on top of a trash can, hobbit…a TRASH CAN
That there’s what ya call “Divine Irony”.
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Why was the opening bid at only 216,000?
Did the lender pick a price lower than what was owed hoping they could sell it at the auction? -
Is the NW now foreclosed too?
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So, Casey, do you plan to go to the March 12th foreclosure of the Burdett property if the short sale doesn’t work out? Maybe it will be warmer and the auctioneer won’t need to wear a hat the next time.
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Casey, I would like to know how things turn out for real. Keep me informed.
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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 Foreclosure Auction On Monday I am Facing Foreclosure Fan Mail Attorneys Say Corporate Credit is OK, Need a Plan Why Should I Go To Jail For Mortgage Fraud? Casey Serin Satire - Pictures and Song
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Keep us up to date with this.
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..Jump to Comments–> This weekend I decided to drive over and check out the properties in Sacramento area that I recently lost to foreclosure. I was curious to see what is happening since foreclosure and to see if I can still get in. Nope. The lenders work fast. Both the Burdett and Larchmont properties have new locks and REO agent contact info posted on the doors.
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Guadalajara Dr, Rio Rancho NM (foreclosed Mar-2007) Sonora Ave, Albuquerque, NM (Sold Jun-06) Muncy Dr, Modesto CA (foreclosed Apr-2007) W 10250 N, Highland UT (Wrapped, Unwrapped, Wrapped?) Larchmont Dr, North Highlands CA (Foreclosed 07-Feb-2007) Angleridge Rd, Dallas TX (Foreclosed Nov-2006)
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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 finally sold, but even this one transaction put Casey down over $300,000 as an “investor”. Not to mention, in the neighbourhood where this house just sold, property values have now
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