Stopping Foreclosure, Short Sale and Promissory Note Update

Here is an update:

Larchmont: Approval letter states “1. Closing must take place no later than January 19, 2007 or this approval is void.” As you know, the previous buyer has decided not to move forward on this home. I have left messages for the account rep at Countrywide to call me to let me know if we can get an extension past this date on this approval letter. Once I hear either way I will let your know.

We did receive two offers which have been sent over to the bank. One for $145,000 and the other at $189,000 with a seller concession -approval was for $220,000. Did speak with Customer Service and no sale date has been set of yet.

As you know, the property is listed at the ‘rock bottom’ price that the lender will approve. Investors using shark-like tactics will continue to low-ball for offers coming in, and the only hope of saving this property at this time would be to get a serious buyer interested in home occupancy that is willing to pay what the bank is willing to accept, AND, at this point, that would only apply if the bank would grant an extension. I will continue to seek out qualified buyers, but you may have to brace yourself for the possibility of foreclosure if the bank decides your time has run out.

Burdett: Unfortunately I will be unable to take this listing. I just lost my assistant and can not take on another Short Sale Listing at this time, but I can refer you to some very competent agents that may be able to handle that project at this time.

Things are not looking so good for saving Larchmont from foreclosure and now I have to find a new realtor for Burdett who is experienced in short sales.

No news yet on stopping the Muncy property foreclosure but the realtor has submitted the offer and short sale packet to the bank and we’re waiting on the answer.

I will be calling on the New Mexico house and Utah wrap issues today to get some updates.

About the note…

I’ve been thinking about that $50,000 promissory note I signed for Larchmont short sale. Notice it says “Exibit B” on it and there is also the short sale approval letter which I received later. The short sale approval letter references the 50K note as part of the conditions.

My understanding is that the 50K promissory note is part of the short sale approval. That’s how it was presented to me in the first place. So if the short sale does not go through and the bank forecloses on the house I don’t see why I would still owe on that note.

I think I was starting to worry for no reason and bringing unnecessary drama upon myself. I’m going to take that note off my financial spreadsheet right now. Good… now I’m down to 176K in unsecured debt. That’s a little bit better.

Quick income update… I will be talking with Chris today or tomorrow about my consulting job situation because things have been a bit shaky. I’m also exploring having sponsorship for this website for some living expense money until I can settle my debts and get back into doing sweet deals.

Filed under deals, borrowing / loans, short sale, Burdett, Larchmont
Avoiding Foreclosure via Short Sale and/or For Sale by Owner
Introducing I am Facing Foreclosure Sponsors
142 Comments

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1. Craven Moorehead
January 22nd, 2007 at 9:07 am

“….until I can settle my debts and get back into doing sweet deals.”

Anyone with any sense that has read your blog for more than two weeks knows you’re a retard.

“Unfortunately I will be unable to take this listing. I just lost my assistant and can not take on another Short Sale Listing at this time, but I can refer you to some very competent agents that may be able to handle that project at this time.”

Let me put that quote in English that you can understand. “Dear Casey, I now realize that you’re a retard and don’t want to waste my time on you.”
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2. Craven Moorehead
January 22nd, 2007 at 9:10 am

“Your comment is awaiting moderation by the blog owner. (Typically takes 12-48 hours).”

LOL. Guess you’re tied up trying to getting back into “doing sweet deals.”
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3. segfault
January 22nd, 2007 at 9:16 am

“…things have been a bit shaky…”

Has he ever paid you for anything you’ve done for him, in cash, as opposed to giving you free or discounted goods or services?
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4. Turn Your Self In
January 22nd, 2007 at 9:21 am

So you have a choice to Pay for Web hosting, or pay your debts.

Amazing how you do NOT find any money to pay the banks but you have money to pay every month for web hosting.

We are watching you Casey…
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5. JTR
January 22nd, 2007 at 9:23 am

Well, if that’s not a clear sign that things in the real world are finally catching up with your fantasy, I don’t know what is. Dude….it’s over. Don’t you get it?

FYI, a friend of mine tried to sell a house she owned to the tenant that was renting it out. His mortgage was declined due to tax liens from the State of California that were several years old. The lesson to you there: Good luck even dreaming of getting another mortgage until you’ve paid back the taxes you are sure to get hit with…..

Looks like your living accomodations for the foreseeable future will either be an apartment or a cell block.
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6. Sputnik_the_Cat
January 22nd, 2007 at 9:23 am

aaack!!

I got nothin’ to say.

thhpptt!!!
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7. Kasey
January 22nd, 2007 at 9:24 am

The fact that you keep saying “sweet deals” makes me believe this is all a scam.
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8. Income100.com
January 22nd, 2007 at 9:25 am

Casey,

Good updates. It finally sounds like you’re getting stuff done and focusing. Good luck.

www.income100.com
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9. JTR
January 22nd, 2007 at 9:29 am

Has anyone else noticed the disconnect in Casey’s spreadsheet–that nowhere in his “living expenses” does he list any debt payments? This warped notion that somehow all his debt is in a separate realm that should not affect his daily finances is probably a contributor to this whole mess.

Curious to see what happens when Cash Call and Wells Fargo REALLY start messing with Casey….
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10. darko
January 22nd, 2007 at 9:29 am

“sweet deals”?
Brother- forget about the sweet deals and focus on getting a steady income. “sweet deals” will not happen for you. Maybe if you weren’t so exposed on the net. Anybody that deals with you is going to play hardball because your situation is public. take a year off from re and focus on fixing your life. The last picture of yourself speaks volumes about your mental state. Either you are a great actor and have hidden the cash from the earlier property sales and laughing all the way to the bank, or you are heading for a breakdown.
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11. Mike
January 22nd, 2007 at 9:30 am

Casey,
You don’t seem to have paid much attention to the 5 suggestions put in by so many of your readers. Nearly all of the serious ones mentioned giving up on real estate investment, as you’ve demonstrated a catastrophic skill set in this endeavour. Yet once again you start talking of sweet deals. Wake up and smell the coffee! You should look very seriously into BK declaration and find out for sure what the ramifications will be in terms of IRS penalties on forgiven debt (different opinions have been posted here, and I certainly don’t know enough about law to posit anything)> This would actually get some useful info out to others who may be in your position and who read this.
Given what you’re facing at the moment, I would be worrying less about foreclosure and more about your rear closure (aka Bubba’s Delight).

Mike
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12. Nigel Swaby
January 22nd, 2007 at 9:35 am

Casey,

You’ve got to keep up with the moderation or postings. Your readers worry when we don’t see activity. Fearful thoughts enter our minds.

You really only have a few choices at this point. Do you think the market is turning there? If not, forget the short sales and attempt a Deed in Lieu on all remaining properties, except Utah of course.

If you do think it’s turning, declare bankruptcy and keep the wolves at bay a little longer.

If you won’t declare bankruptcy, pick a house to move into and try to save at least one.

Otherwise you lose it all…

Take care,

Nigel
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13. Cold and Logical Analysis (Casey's anathema)
January 22nd, 2007 at 9:44 am

1. Sponsorship for this site will work only if you have traffic.

2. Traffic will continue only if you:
2.a post updates more often than every 2 or 3 days
2.b release comments more often than every 3 or 4 days

I, for one, will no longer read comments that are released in batches of several hundred after stagnating for 2 to 4 days.
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14. Cold and Logical Analysis (Casey's anathema)
January 22nd, 2007 at 9:45 am

So, Amy has fired you, and Chris is going to.

Did I get that right?
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15. Casey Serin
January 22nd, 2007 at 9:47 am

Thanks for the top 5 advice from last post… I think I will create a whole separate post with my answers… I just need to read through everybody’s stuff and figure out the master top 5 list from the advice that was mentioned the most often.
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16. recondite observer
January 22nd, 2007 at 9:48 am

I must confess, I’m a little confused here. How is it that someone who repeatedly claims to be the target of ‘haters’ and has asked for no personal attacks, appears to find every opportunity to paint a target on his back?

A major component in the art of communication is being able to convey your message in a way that won’t be misconstrued. Unfortunately, you have a way of describing things that puts you in the worst light possible. Some examples,

1) referring to your RE agent as ‘cute’. Now what does that have to do with anything?

2) challenging people to tell you what advice you’ve ignored. Was this baiting on purpose?

3) talking about ’sweet deals’. You should drop the adjectives and just state the plain facts, especially when the adjectives make you seem unprofessional, and quite frankly lazy.

4) repeatedly making statements that show a lack of understanding. In the above post you mention that you were worrying for no reason because you have 50K less unsecured debt. In all honesty, this makes you look foolish. The debt didn’t just magically disappear, it merely was re-labelled. Imagine, you go to the doctor and he gives you three months to live because you have stomach cancer. Then after worrying for it all day, you get a call, and it seems that you don’t have stomach cancer; you have colon cancer and have 6 months to live. So, now everything is better?

Hope this helps you a bit.
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17. FuturesTrader
January 22nd, 2007 at 9:50 am

@Cold and Logical Analysis:

People seem to be siphoning off traffic as it stands. A good Casey alternative now is Robert Cote’s web site. And I think there’s a caseyserin.info web site now. I doubt this post will get past moderation; however, if it does you can get your Casey-hater fix on alternative web sites now.
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18. star
January 22nd, 2007 at 9:52 am

All the pics of that note show the bottom cutoff, but from what I can read, I see nothing in there regarding a contingency to a short sale.

It said “exhibit” because it’s in loss mitigation. It’ll make it easier to serve you papers later.

It looks like a cut and dried note and they’ll be looking for your 1st payment in a week or so.

Are you sure the realtor isn’t backing out because you brought a bunch of attention to her here?

As you’ve probably noticed, the pace of things is picking up now. Most of which is beyond your control. It’s a shame that all you’ve done the past 3 months is add more debt. I still can’t believe you spent 20k+? of borrowed money on “N R” scaminars and corp. credit “counseling”.

I seriously wonder how your typical day goes. You should give an hour by hour breakdown. What kinds of things are causing you to not even have time to open your mail once a day?

I read somewhere that you’re getting hits from FBI, various state agencies and some of your creditors. Do you have a plan in place if they raid you?
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19. Ryan
January 22nd, 2007 at 9:52 am

dude, the re market in colorado and alaska ROCK right now! definitely some SWEETness to be had…

too bad about the distance eh?
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20. star
January 22nd, 2007 at 9:57 am

This is the 2nd time in a month that you’ve met with Chris because things aren’t going well. I’d imagine that not only are you not doing much work, but that the job was some b.s. “N R” type pipedream for both of you.

I think you should get some sponsorship out of this blog. It’s the only thing you’ve kept up with and you’ll definitely need the income going forward.
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21. Casey Serin
January 22nd, 2007 at 10:00 am

Flow Chart by Flipperbot 2000

This was contributed by a fan and even though its a bit on the vulgar side I decided to post it here (with permission) for everybody’s enjoyment. Credit to "Flipperbot 2000".
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22. Doug
January 22nd, 2007 at 10:02 am

Mike

From your comment (11) where you suggest that he declares bankruptcy: Casey stated a post or two back that he had consulted a bankruptcy attorney and had been informed that if he declares bankruptcy then he will also be under investigation for fraud (I assume for all of his dealings).

As a result is caught between the rock and a hard place: Declare bankruptcy and face State and Federal Charges or attempt to stave off the wolves at the door long enough to get his feet under him so he can get his finances together before he is taken to collection, sued, has his wages garnished and then taken to court on fraud charges.

It’s just a case of damned-if-you, damned-if-you-don’t.
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23. Eddiemegetty
January 22nd, 2007 at 10:02 am

You seem to be focusing more but if you think you’ll be high roller doing “sweet deals” then forget about it. The sweetest deal you have going for right you now is discharging all those c.c. debts.

Primary goal is to get full time work for food, rent, bills. Is Chris too cheap to pay you or you haven’t been giving his monies worth?

Seriously, get a job, also tell G. to forget college and get a job to help you out. As long as you don’t have kids she can always go back and finish. Please your cost to soceity is $2.2million and increasing don’t give us extra burden.
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24. Law Vibe
January 22nd, 2007 at 10:03 am

Casey, I’m telling you
AdBrite would be great for your blog.

Publishers:
# Monetize your site with complete control over your pricing
# Approve or reject ads
# Sell directly to your users with our “Your Ad Here” link, our dedicated page created just for your site, and our in-house sales team
# Customize your ads for seamless integration into your site’s design
#
AdBrite works great by itself, or alongside ads from other networks (Google, Yahoo, etc.) or your own sales team
# Through a small snippet of HTML placed on your site, we handle ad serving, billing, customer service, and sales
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25. FuturesTrader
January 22nd, 2007 at 10:09 am

Casey, Re: The Flowchart

What do you mean “with permission”? If anything, that guy should be asking you for permission. Keep this in mind: Your patheticness is an asset in and of itself, so any content that is created that is a result of your stupidity on this blog is owned by you and is yours to profit from.

Start to profit from your own stupidity, for God’s sake. You’re like the Paris Hilton of the real estate world, but without her skill for converting dumb behavior into profit and more exposure.
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26. Don't enhale the Serin Gas
January 22nd, 2007 at 10:17 am

Wow, I guess this comment will be moderated in a week or so, that flowchart is great, put that on a tee-shirt and you got a hit.
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27. Leroy Brown
January 22nd, 2007 at 10:18 am

Sweet deals…. oh sweet deals…. you haven’t ‘done’ any sweet deals. Many bad ones that keep compounding. You must come to the realization that you were not meant to be in real estate. Me, I’m not a good singer. In fact, I’m really really bad. Therefore, I’ve made the decision not to become a professional singer.
Since you’re really really bad at real estate, it’s time to think of something else. Really, anything else. Just stay far away from RE. Forever.
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28. Bubbers
January 22nd, 2007 at 10:19 am

@ segfault
“Has he ever paid you for anything you’ve done for him, in cash, as opposed to giving you free or discounted goods or services?”

The real question is, has Casey ever done anything for him???
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29. Bubbers
January 22nd, 2007 at 10:24 am

I think this is what they call karma:

“the only hope of saving this property at this time would be to get a serious buyer interested in home occupancy”

What you desperately need is what you were unwilling to be.
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30. Robert Coté
January 22nd, 2007 at 10:41 am

Thanks for the top 5 advice from last post… I think I will create a whole separate post with my answers… I just need to read through everybody’s stuff and figure out the master top 5 list from the advice that was mentioned the most often.

Casey, don’t you remember? It wasn’t advice you were looking for. It was 5 examples of good advice you had ignored. Focus, follow through and report. Yes, people are going elsewhere to follow your story but that shouldn’t matter as the opportunity to monetize your blog and/or story has passed. At that you are still pursuing actions that indicate you intend to monetize your situation. Sound familiar? Good idea -> late entry -> blown opportunity -> lost interest -> next big idea. Your behavioral characteristics were set down at age 14 with that Ponzi letter.

Speaking of opportunity, an example; caseyserin.com. Cool. I liked the idea registered to Chris BTW, so much I bought caseyserin.info. Cost me $2.24. Why would you let someone else own caseyserin.com and why would you let the dot info go uncovered? Let’s see, buy low sell high? How about $10? No, better; a note for $10 payable in 10 monthly payments at 0%. Why would I do this? As a listed creditor I’d be sent any notices generated by the courts. The savings in photocopying alone will be worth hundreds.
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31. HoaxBlogger
January 22nd, 2007 at 10:42 am

“Casey”

This blog is the best thing since Phil Hendrie went off the air this past summer!

What’s next? How about a scheme to convert your real-estate holdings into money-making operations by converting them into canine brothels? Horny dogs = big payday!
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32. Cold and Logical Analysis (Casey's anathema)
January 22nd, 2007 at 10:54 am

Oh, a final comment before I switch to lurk-only mode.

My dozen or so posting aliases have contributed probably 200+ posts over the last 3 months. That’s traffic you won’t see in the future.

(Again, since you didn’t post 80% of my last 10 posts, no sense in continuing to to write).

I look forward to watching the trainwreck via other sites.
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33. Doug
January 22nd, 2007 at 10:58 am

I have rarely heard of a real estate agent not being willing to take on more work (especially in a down market with a smaller number of sales). That is a matter of serious concern.

Just so I am not confused. Please define the term “Sweet Deal.” What its requirements are, draw backs and pitfalls.
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34. Sam
January 22nd, 2007 at 11:00 am

Please tell us what kind of sweet deals you learned from Russ Whitney. Maybe you can give someone else useful educational info.
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35. Cold and Logical Analysis (Casey's anathema)
January 22nd, 2007 at 11:00 am

Since you deleted several rather long posts of mine in the previous thread in the process of purging your backlog, this is it for me and my dozen other aliases who have given you 200+ posts over the last few months.

Say “bye, bye” to that traffic..

I’ll keep abreast through the other Casey sites - they can make a dollar or two from my traffic.
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36. SandraV
January 22nd, 2007 at 11:12 am

You are so missing the point, Casey. You don’t work hard enough to be successful. You are lazy and inept most days and you have no true work ethic. I work with many successful, rich people who all work at least 60 hours per week, because they love what they do. They didn’t start out looking for a quick buck, but money came along with their dediction and commitment to work their butt off. What can’t you see that you have to work for anything that’s truly worth it. Very few individuals have wealth fall into their laps. If your not working 10-12 hours a day, Casey, you will never amount to anything.
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37. John
January 22nd, 2007 at 11:15 am

Flipperbot 2000, you are my new hero.
Casey, you need to put that flowchart on the front page. It is a riot.
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38. Jobu
January 22nd, 2007 at 11:24 am

Some questions (that no doubt will go unanswered):

1. What ‘work’ did you/will you do for Chris? Specifics please.
2. Why do you keep saying sweet deals? You wouldn’t know a sweet deal if it rotted your tooth out.
3. Will that cute Amy agree to be on the Iamfacingforeclosure.com calendar?

Bartender, Jobu Needs a Refill.
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39. Hi...I'm Dolph DeRoos
January 22nd, 2007 at 11:29 am

LOL…typical of Casey. Always late to the meeting/party/whatever.

The kid just has no clue of how much WORK it takes to be an “entrepreneur.” Let’s say for kicks he isn’t a scammer but a really dumb wannabe businessman.

Entrepreneur: Willing to work 80+ hours a week to build business. Once it takes off, they will let others run it and enjoy the passive income while chasing down new opps.

Casey: If I have to drive 1.5 hours to clean my property, then it’s not worth it. In Casey world any hardwork makes zero sense for him because he’s in love with the concept that an entrepreneur just sits back and lets others do stuff. Does he not realize even a Donald Trump works endless hours to keep his empire entact and growing?

Casey, there is no such thing as autopilot. You have to manage every detail and make it work. You have to chase every idea down and make it yours. Sitting around and giving up is what Casey does best. Half assed is a more apt description of his whole life.

A Leopard cannot change it’s spots and I believe our young Casey is destined to forever spin his wheels in mediocrity.

Hate on that, young’un.
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40. Austerity
January 22nd, 2007 at 11:35 am

“…Things are not looking so good for saving Larchmont from foreclosure and now I have to find a new realtor for Burdett who is experienced in short sales.

No news yet on stopping the Muncy property foreclosure …

I will be calling on the New Mexico house and Utah wrap issues today to get some updates…”

The dominos are falling. Sweet.
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41. Hi...I'm Dolph DeRoos
January 22nd, 2007 at 11:35 am

Hey Casey I see others are listing the … University you so disgustingly cut out of my post. Why is this?

Why can somebody refer to it and you […] it out of my posts?

Explain please…oh yes, I forgot you are making fictional….errrrr….sweet deals.

Yep, right. Go back to nappy time young’un and stop pretending to be a hardworking entrepreneur.
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42. Aelfscine
January 22nd, 2007 at 11:36 am

Sputnick the Cat Returns in Majesty

Sacramento, CA - The world rejoiced today as Sputnick the Cat stirred from his ages-long slumber, restoring hope to our children and poop to our shoes. A chorus of angels descended from on high, and scales fell from the eyes of millions of the newly faithful. Truly, a new epoch of prosperity and love has begun for all mankind.

In other news, Casey Serin remains in a delusional fairyland where he can actually buy property. More on this at eleven.
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43. Hi...I'm Dolph DeRoos
January 22nd, 2007 at 11:37 am

How is your real estate agent your “assistant?” In order to call somebody an assistant, they must:

A) Be employed by you with a real salary or as an intern.

B) They must be willing to fetch things for you. Like Jamba Juice for example.

C) They would be moderating this blog faster than you. This way you can sleep all day and dream of these so-called sweet deals!

So basically, I missed something…How is she your assistant?

Try partner you schlub, sheesh!
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44. Stan
January 22nd, 2007 at 11:41 am

Lindsey Lohan checked into rehab holding a jamba juice….Casey’s fav. Is there something about the juice we don’t know?

BTW, I’ve created a message board for everyone to post their comments and discussion about Casey in real time. If he keeps holding comments hostage I’ll post the link here and on other blogs.

Casey, if you want an audience, you have to respond to THEIR wishes…..otherwise, someone else will. Just remove the moderation; comments aren’t THAT bad. You’ll be glad you did…….
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45. Stephanie J.
January 22nd, 2007 at 11:43 am

“…and get back into doing sweet deals.”

::lays head onto her desk and starts weeping::
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46. Hi...I'm Dolph DeRoos
January 22nd, 2007 at 11:43 am

Folks Casey says Sweet Deals only to raise the ire of the so-called “haters.”

It’s almost as if he’s turned it into a catchphrase like “Where’s the Beef” (Could EASILY apply to Casey with regards to his lack of follow through) and “Can you hear me?” (Again, an apt catchphrase that applies to his love of attention and hatred of hard work).
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47. Hi...I'm Dolph DeRoos
January 22nd, 2007 at 11:47 am

Hey dude…what’s with all the 2o7 Omniture tracking cookies? Why do you need to use Omniture?

Are you planning to deluge us with spam?

Not posting this will force me to go elsewhere. Answer the question or at least post it.
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48. Hi...I'm Dolph DeRoos
January 22nd, 2007 at 11:49 am

Cold and Logical: Yep, the kid thinks he’s a businessman and website operator yet he can’t make a deal without screwing up or overdoing it! He can’t run a website because moderation is proving to be too much work.

Funny, Casey thinks the world works on autopilot. Sorry, Casey even your hero Trump admits that you can’t succeed without loads of hardwork. Either moderate better or shut this place down.
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49. Steven
January 22nd, 2007 at 11:54 am

As others have said - you are not a real estate investor. An investor does not sign a $50k promissory note, and THEN start considering what it means.

An investor does not suddenly load up on junk houses in bad locations, and THEN figure out how to pay and how to make money on them.

Give it up. You haven’t made any ’sweet’ deals. It’s obvious you probably never will.

You should recognize that others see that it is very easy to take advantage of you. An investor doesn’t allow others to to advantage of him/her so easily.

You’re not meant for this. Accept it, and move on.
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50. EL TORO ENERGY
January 22nd, 2007 at 12:51 pm

How much is a 2.4 million dollars?

$3000 month x 12 months = $36,000 yr

24-65 = 41 years of work = $1,475,000, and still another life time to go… to make 2.4 million.

So lets see if casey spent every dirty penny he hopes to make a month, $3000 passive income, that still would not even come close to pay back his debt. This does not include compounded interest??? or the fact that making payments are not even listed on spreadsheet? whooopsssseeeyyyy.

Adding is for dummies……

Cost of houses you can’t pay back 2.4 million
Cost of your potential earnings 1.4 million
Cost of watching you explode….Priceless

www.ELToroEnergy.com
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51. Disappointed
January 22nd, 2007 at 1:11 pm

I remain disappointed Casey.

Stop thinking “sweet deals” unless you can “sweat” the hard work necessary to make the deal “win-win” for everyone. So far, the only “win-win” has been you. No bank or lender has “won” - they are victims to your fraud and careless attitude towards credit and spending.

It is telling you agent appears to no longer wants to work with you.
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52. Curious about a few things
January 22nd, 2007 at 1:33 pm

I’m curious about a couple of things that I don’t know:
1. If Casey lets all the homes go into foreclosure, does that automatically trigger bankruptcy?
2. Can other debts that are remaining unpaid and are in collections force him into bankruptcy?
3. If he doesn’t declare bankruptcy and it can’t be triggered by another party, what happens? Is he simply pursued by his creditors until he is old and grey?
4. Does having more than one foreclosure on a credit report make it any worse than only having one? Does it stay on his credit report as long as bankruptcy would?

Thanks - figure someone here knows.
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53. dumbererer and dumberereest
January 22nd, 2007 at 1:53 pm

your realtor realized that your just to much of a hassle
6% commission in a housing slump seems like a big deal, assistant or no assistant…

ive never heard of a realtor dropping a client?
has anyone else heard of this?

you drop your realtor, you fire your manager, you sign a new agent, you get a new pr rep, but ive never heard of it the other way around….

casey you must really be a basketful of trouble
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54. Girly Rizer
January 22nd, 2007 at 2:00 pm

Ahahahaa… taking off the $50k note to make you feel better? Think again!

I’m not a lawyer but I did go to college. And in college I took business law as required for my major. I learned that the words “FOR VALUE RECEIVED” means that the note you signed is validated as is where is with no other strings attached. That term is an admission on your behalf that they gave you something of value which you consider going an additional $50,000 into debt for. Only Casey Serin is stupid enough to consider NOTHING (which is exactly what you got out of Countrywide) worth giving away $50 large. And this my boy is why you’re a failure as a businessman…

IOW no matter what happens to the house, foreclosure or sale you’re still on the hook to Cuntry-wide for the full $50 G’s. You will notice that they even went so far as to put the term in ALL CAPS so as to emphasize its obvious nature and plead that they explained this to you beforehand when the note eventually winds up in bankruptcy court.

Of course they probably didn’t explain it to you. They found some clueless kid and figured out a way to hang him by his cojones. In the end they’ll sell their house at a loss, enjoy the tax benefits of said loss and offset it creatively with the note you signed.

Think a BK judge is going to discharge that note signing it when you did? IN YOUR DREAMS! (note caps)
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55. Jack Ambramoff
January 22nd, 2007 at 2:17 pm

Casey use cafeexpress or simliar site to put that flowchart on a t-shirt and sell it!

All you have to do is upload the gif and point to thier site - they print and mail the shirts! you collect $$. I’ll buy one. soooo funny. oh man that guy is hilarious.
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56. Sweet Deals?
January 22nd, 2007 at 2:26 pm

Now I know for sure you are bi-polar.
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57. 91q45
January 22nd, 2007 at 2:30 pm

Amy, ran from Casey and his problems (Jail for Casey) my question still stands,

Was Amy, involved with the cash back deals that Casey did?

91q45

PS
Casey, its time to stop and find a good attorney ASAP, you do not want to see the inside of a prison.
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58. HungryBear
January 22nd, 2007 at 2:35 pm

Your agent is finally starting to give up on these short sales, realizing that (i) it takes a long time to get one approved, (ii) During this time, the market will have dropped some more, and she will have to go back to the lender to get an even lower short sale approved (good luck!), and (iii) if the lender decides to go ahead and foreclose they will list it with a different agent (often a college buddy of their REO guy) and she will make no money for her efforts.

Short sales are probably only going to be a smart strategy when the values have stabilized which won’t happen for a few years.
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59. Beavis
January 22nd, 2007 at 2:42 pm

“get back into doing sweet deals. ”

That would imply you’ve made some sweet deals already.
Dude go back to programing, take it from a fellow engineer, it might not make you millions but sure as heck is a steady check.
Plus you’re throwing away your education and the ability to “create” something. Flipping houses is not a product. It’s leeching.

BTW I love your flowchart! See there’s still an engineer in you!
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60. joe smithson
January 22nd, 2007 at 3:10 pm

“….until I can settle my debts and get back into doing sweet deals.”

s*** , Casey. you’ve learned NOTHING from this. nothing at all.

is your life going to be about skimming from society so you can live the “sweet” life? for god’s sake, man–grow a soul. start now.
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61. T. Rowe
January 22nd, 2007 at 3:31 pm

How about you give the guy that bought your condo $30,000 and you swap again?

Then he gets Burdett back and you can move out of the in-law’s house!

SWEET
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62. Li Li
January 22nd, 2007 at 3:33 pm

Do tax liens stay with the property or the owner at the time of the missed payment?
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63. sisb (sean)
January 22nd, 2007 at 3:37 pm

Casey, are we to understand that you simply took the $50k note off your balance sheet simply because you feel it shouldn’t exist? Huh?

People were warning you about that note the very moment you mentioned it.

Reminder to self: if I ever get into real estate investing, make sure to take as many real estate law classes as I can. Not “seminars”, but the kind where you are graded on performance (university).
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64. jonny quest
January 22nd, 2007 at 3:42 pm

I doubt many of us are either “bracing themselves” for your pending foreclosures or worrying about you not posting in a timely manner as Nigel pointed out in #12.

The flowchart is good but I saw it on another site. Bottom line is you better start being more timely not because we care about you, but because you amuse us. But frankly, you’ve strung this blog out too long anyway and it’s starting to smell of trolling. But I’ll check back just because I invested a lot of time here and your blog seems to have more lives than Sputnik.

PS: It’s good to be an early riser when you forget trash day the night before, isn’t it?
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65. jonny quest
January 22nd, 2007 at 3:53 pm

One more thought: I’ve been wondering why your story is so compelling (besides the unintended comedy by you and the intended comedy of many of the posters - which appeals to me) to so many.

I recently started reading “Dignity at Work” and one of the findings of the author, a sociology professor, is that beleagured employees, of course, hate abusive bosses, but they really loathe incompentent ones.

You, my friend, are the King of Incompetence in every facet of your life you care to share with us, save getting eyeballs to this blog. What that does that tell you…?
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66. SayWhat?
January 22nd, 2007 at 4:45 pm

Yep, he sounded lucid until he said “settle debts” and “sweet deals” then I knew he’s still mostly living in the make-believe world inside his mind.
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67. Ruh Roh
January 22nd, 2007 at 5:04 pm

What do you do all day? You will not have to worry about
monetizing your blog, because you are losing all your readers since you cannot be bothered to moderate any sooner than 12 to 48 hours.
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68. Don Arson
January 22nd, 2007 at 5:06 pm

Casey, you can program and speak both english and russian, why don’t you get a job that uses those skills? That way you can actually make money, instead you make more websites that do nothing but waste your time and make you more of a public figure.

http://www.serin.us/

http://ablebuyer.com/
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69. Kurt
January 22nd, 2007 at 5:07 pm

That flowchart is f&*^%$g awesome. I laughed so hard I almost pissed my pants.
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70. Catherine
January 22nd, 2007 at 5:09 pm

The Note should detail the terms of the transaction. It should be contingent on the short sale, but since it is Countrywide …oh lordy. Who has the original signed Note?
C
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71. Bob C.
January 22nd, 2007 at 6:18 pm

“…and get back into doing sweet deals.”

Right back to fantasy land I see.

The only sweet deal you’re gonna see for a long long time is when Bubba gives you a night off in exchange for taking his turn scrubbing the cell toilet. Now that’s a sweet deal.
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72. Alex
January 22nd, 2007 at 6:21 pm

Casey,

It hurts by just seeing you struggling like a whale dying on the beach-of-debt.

It is low tide in the real-estate-ocean, and you are too unable to free yourself back to the water.

For once, listen to the truthful folks in this blog — take the Bankruptcy Wildcard and release yourself from this mystery.

Casey, are you listening?

With best regards,
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73. PVC
January 22nd, 2007 at 6:35 pm

Utah wrap issue? I thought that was resolved in December.
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74. Billabong
January 22nd, 2007 at 6:57 pm

Casey,

I can only imagine how many people have called Placer County or the state governement to report on your shady dealings. Say hi to bubba for me! My guess is you don’t make it to spring before the feds catch up with you.

Just a thought here, you should have a backup person to run your blog once you end up in jail. You will need that tip jar to pay for bail. Heck I’d even throw in a couple of bucks to cover your bail just so you can keep this blog up and running. It’s that train wreck in slow motion! Gotta love it!
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75. Aaron
January 22nd, 2007 at 7:11 pm

I am not a lawyer, obviously, and so you need to verify this information yourself.

It sounds like you really just want to get rid of your houses. If you can’t line up a short sale, and you don’t qualify for a dead in lieu, and you don’t want to wait around until the foreclosure, you may have another option.

The lender doesn’t want a DIL because they don’t want your house; fine. However, nothing is stopping you from executing a deed in the company’s favor. This would legally transfer ownership, whether they like it or not. However, you may still be liable for the deficiency, or perhaps owe taxes on it, depending. However, from reading your blog lately, these are probably the least of your worries.
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76. chopper
January 22nd, 2007 at 7:35 pm

Casey,

Here are the five, possibly four things that you should be doing.

My first piece of advice is to continue holding all your business meetings at the Denny’s. Despite what all the naysayers believe, it’s common knowledge among most astute business professionals like you, that almost all Grand Slam Deals are done while eating Grand Slam Meals. As you already know, this is how most REITs operate and is why they have certain operating advantages over MLPs and LLCs. Most of the RE newbies on this blog won’t understand this basic principle since they, sadly enough never went to RE college. However, heed this cautionary note. You are still far too young and inexperienced to take on the Super Grand Slam Deal while eating the Super Grand Slam Meal. The extra pancake, sausage link, and bacon slice are more than you can handle at this point in your career, both figuratively and literally. As everyone here knows, the number one rule in both RE investing and fine dining is to never let your eyes get bigger than your stomach. Give it time though, you’ll get there. As a side note, I’m very intrigued by your idea about setting up a structured settlement with a wrap-around loan while eating a Moons Over My Hammy.

As for all the previous pearls of wisdom about living beneath your means. Ignore this simplistic advice since this is coming from the same people who only know how to talk. As you and I both know, and what Terry Tate Office Linebacker once said, you just can’t talk about it, you gotta be about it. Remember what you’ve learned, living beneath your means is only for the mass of men who lead lives of quiet desperation. These are the same kinds of loathsome creatures who live in beaten down wood shacks next to algae ridden ponds pontificating about economizing. This makes about as much sense as a one eyed opossum feeding chitlins to a three legged polecat, as those backwater Southern people are wont of saying. Economizing is not for the high rollers like you who buy million dollar apartment complexes over midnight pancake dinners. Good times at the Denny’s indeed.

I would like to now briefly comment on your million dollar apartment complex development deal. The plan is solid gold in my opinion and I for one should know since I used to live in an apartment. I remember having to pay something like $1200 each and every month, and only having once to call maintenance for a backed up toilet during my brief tenure there. So I know that these things are veritable gold mines. For fair and full disclosure purposes, the apartment complex I lived in wasn’t in the same grand scale as you envision, so my experience and expertise are somewhat limited in that regards.

You are also right to say that just because you are insolvent, and for all intent and purposes bankrupt, it doesn’t mean that you don’t deserve to live the high life. As you already know, one of the first rules in business is that you need to spend money to make money. You’ve already supremely mastered the first part, and any damn fool can figure out the latter part.

Please keep wearing the blue shirt and keep sitting on the blue ball. The blue shirt will help all of us distinguish between you and the Casey clone. Sitting on the blue ball adds an important level of redundancy in case the Casey clone also decides to wear a blue shirt in order to trick either one of us. He’s a crafty devil as he shares the exact same DNA strands. Do not underestimate this fact. Most engineering systems and methodologies that I’m aware of have some level of redundancy to prevent mishaps like this from occurring. I don’t want the real Casey to accidentally get whacked in case you should decide to follow up on my plan on cloning yourself. As far as I’m concerned, that Casey clone is a total chump and completely deserves what he gets. Or is that the real Casey. Oh man, I’m already starting to get you two mixed up. Just keep it simple and always wear that blue shirt and stay seated on the blue ball for the time being.

I would also like to say something now about your sojourn through life and the chapters yet to be written. The great master Bruce Lee once said, “It’s like a finger pointing away to the moon. Don’t concentrate on the finger, or you will miss all the heavenly glory”. I don’t fully comprehend what he meant by all this, as I’m certain some of the meaning got lost in the translation. This may have been due to the fact that he was one of those foreign people that we oft hear about and wish would just get deported away, but in general his words ring true, even in this modern day and age.

It’s a possibility that what the great master Lee was saying is that you should just continue doing what you’re already doing. Many believe that the very definition of success is to keep doing exactly what you’ve been doing, no matter how staggeringly horrific the results, and then to expect, that eventually, a different outcome will arise. This is pure probability theory and quantum mechanics in action. I can go into Heisenberg’s uncertainty principle, Eigenvectors, and complex wave functions, but I don’t want to rehash what you already know. Just keep taking on more debt. Schrödinger’s equation predicts that eventually you will be up 600 grand instead of being in the hole by 600 grand. The electron in the box will eventually find its way out of the box, so to speak. Furthermore, any physicist worth his salt will also tell you that you can’t predict both the velocity and position outcomes with 100 percent certainty anyways which only goes to prove that eventually the tide will shift and your ship will come in. So stay in the game sailor and keep rolling the same dice that God plays with.

Chopper
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77. Stephanie J.
January 22nd, 2007 at 7:41 pm

The flowchart is vulgar?

Vulgar?

ROFL!! That’s as good as or better than the doll!

:::wipes tear from eye:::

More great material. Thanks contributor.
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78. beezer
January 22nd, 2007 at 7:44 pm

Casey,

Just because the short sale was contingent upon you signing the note does NOT mean the note is not valid without the short sale. Unless the $50,000 note itself says that the money is only due upon closing or some such, you owe it regardless.

If someone told you they’d give you a job promoting Jamba Juice, but first you have to meet certain conditions, like signing a contract swearing you’ll drink orange juice every day. If the contract does NOT say that the contract itself is contingent upon you getting the job, but just says that you, Casey Serin, promise to drink the orange juice every day, or face severe financial penalties, it doesn’t matter if they then actually give you the job or not, you’re still bound to the contract.

Just because the contract is attached as an exhibit on the short sale package does NOT mean you’re not bound by the contract. They’re just specifying it’s there and therefore the conditions (to have it), noted someplace else in the contract, have been met. It might have the hardship letter attached as an exhibit, it doesn’t mean the letter only exists or is relevant if a short sale goes through.

Unless that $50k note specifically says on it (which it does not appear to), that the money in question is only due if a short sale takes place, then you owe the $50k regardless.

Which means you owe the $50,000 regardless.
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79. Big Cheese
January 22nd, 2007 at 7:48 pm

Casey,

Why exactly did Amy back away from doing business with you? Is it because the ‘haters’ started emailing / annoying her? Or because you posted her pic on your site.

People keep saying that you referred to her as ‘cute’ but I didn’t read that anywhere on your blog. So please cite your source.

Thanks,

Big Cheese
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80. Bubba Smith
January 22nd, 2007 at 7:52 pm

Sure wish *I* could wipe out $50,000 of debt just by deciding it doesn’t matter…..
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81. Time Will Tell (Cat Bouncer - NOT!)
January 22nd, 2007 at 7:55 pm

@ 6. Sputnik_the_Cat
January 22nd, 2007 at 9:23 am

How the hell did you post here. I dropped you TWICE from the 40th floor of an unfinished condo tower in Vegas!

OH, wait! Is this one of those cat’s nine lives things?

Now THAT’S something I did not take into account.

Dead cat bounce theory clearly has been resurrected. Just make sure the cat’s on it’s 8th life before you drop it.

(and stay out of my shoes, Sputnik)
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82. wealthyboomer
January 22nd, 2007 at 7:58 pm

Foreclosures

“Foreclosures increased 94% last year, to 157,417 homes in California, as homeowners struggle with fast-rising home payments and a slow-selling market, according to a Fair Oaks real estate investment advisory firm on Monday.

“California had the most foreclosures filed nationwide, while Nevada had the largest percentage increase, at 175%, last year compared to 2005, according to Foreclosures.com.

“Nationwide, almost 971,000 foreclosure filings were reported last year, 51% more than the 641,000 in 2005, according to the annual report.”
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83. wealthyboomer
January 22nd, 2007 at 8:00 pm

Willingness to Lend

The Mortgage Lender Implode-O-Meter is reporting, “Twelve lenders have now gone caput since December 2006.”

This number has been increasing at a rate of one-two a week since December.

Two of those lenders were among the top 20 subprime lenders. One of them was Ownit Mortgage, the other was Mortgage Lender Network. Ownit Mortgage and MLN both went bankrupt.
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84. Clotpoll
January 22nd, 2007 at 8:33 pm

You need to be incarcerated to protect both you and the public from more damage.

I think once you are removed from your coccoon of denial, evaluated and medicated/counseled, you could rejoin society at some later date. Right now, you constitute a real threat to yourself and others.

Perhaps when you are of sound mind and have had time to digest the devastating consequences of your actions, you could attend vocational classes, learn a trade and live a meaningful life. However, draconian measures must be taken just to pull you out of the death spiral your life seems to have entered.

I sincerely hope that the CA prison system does you some type of good and that you receive the rehabilitative help you need. I apologize for having taunted you, as I’m now convinced you are a mentally ill person in need of real help.
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85. Bubble Sitter
January 22nd, 2007 at 9:05 pm

My understanding is that the 50K promissory note is part of the short sale approval… So if the short sale does not go through and the bank forecloses on the house I don’t see why I would still owe on that note.

LOL just like how you think that you don’t have to pay back your “closed” credit cards. You just wait and see my friend.
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86. just another realtor in sac
January 22nd, 2007 at 9:39 pm

good for amy. it’s always sweet to hear about an agent firing a client.

casey, what were the sweet words spoken to get you to sign the note? i couldn’t get my latest short salers to sign a note for $25k.
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87. Time Will Tell (Cat Bouncer - NOT!)
January 22nd, 2007 at 9:39 pm

“Foreclosures increased 94% last year, to 157,417 homes in California, as Casey Serin struggles with fast-rising home payments and a slow-selling market, utter incompetence, and exceptionally poor decision making, according to a Fair Oaks real estate investment advisory firm on Monday.

“Casey had the most foreclosures filed nationwide, and Casey’s foreclosure rate is predicted to be 100%. This was followed by Nevada, at 98%, according to Foreclosures.com.”
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88. And so it goes....
January 22nd, 2007 at 9:40 pm

Many are asking why Amy chose to not represent Casey, and nagging him because he referred to her as “cute”. Perhaps Amy wanted to remove herself because several people on here were insulting her. The comments about her cleavage and wearing too-light foundation were beyond insulting. I’m sure being called “cute” was NOT the reason she exited. C’mon people - show some intelligence.
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89. Cold and Logical Analysis (Casey's anathema)
January 22nd, 2007 at 9:41 pm

to reply to Stan (but not Casey, who deletes my posts), who said:

“BTW, I’ve created a message board for everyone to post their comments and discussion about Casey in real time. If he keeps holding comments hostage I’ll post the link here and on other blogs. ”

Stan - please post either here or on .info - I’ve had it with the 2-4 day hold / ignore / delete moderation cycle that Casey is now doing. I like the .info site, another would be Sweet!!!
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90. WINEX
January 22nd, 2007 at 10:00 pm

Casey, as GIRLY RIZER pointed out, the promissory note you signed specifies that you agree to pay $50,000 for value received.

Note the tense of that statement.

It isn’t referring to future events, and there are no contingencies mentioned.

They made an offer that had some value, you accepted it, and agreed to pay $50,000 for it.

Though it would be helpful to see the rest of the contract that you signed, it does look like you are on the hook for that debt.

That having been said, it doesn’t appear that you are a man of your word. Therefore, I doubt Countrywide will ever see a penny of the money you owe them.
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91. Closed
January 22nd, 2007 at 10:06 pm

The half-page of the note you posted DOES NOT mention anything about a short sale, or any other contingency.

Can you post the rest of the note? Let’s see if the note is conditional upon the short sale going through at a given price.

If not, you are on the hook for fifty large whether you like it or not.

On the bright side - you can pay off the note at any time without pre-payment penalty. Once the cash flow from the building kicks in, you can simply pay it off and forget it ever happened.
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92. Linda Proctor
January 22nd, 2007 at 10:15 pm

http://www.mortgagefraudblog.com

You’re a done deal, Casey.

Nighty nite!
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93. PVC
January 22nd, 2007 at 10:24 pm

Personal Bankruptcy
Personal bankruptcy is commenced by an individual filing Chapter 7, 11, 12 or 13. The most common is Chapter 7. The debtor is allowed to exempt certain property from liquidation by the trustee. The list of exempt property includes homesteads, household furniture and furnishings, jewelry, clothing, interests in an automobile, tools of the trade, pensions, insurance policies, a “wild-card” or “grubstake” exemption of $15,000.00, and other assets. Individual states are allowed to “opt-out” of the federal exemptions and provide their own lists. Exemptions can thus vary widely from state to state.

The “automatic stay” goes into effect immediately upon the filing. This stay prohibits any act to collect money or take property from the debtor. It stops wage garnishments, foreclosures, repossessions, and the like. The stay usually remains in effect throughout the case.

Reasons for Denial of Discharge of Debts

The individual debtor usually is discharged from legal liability for his debts, and receives a “fresh start”. A discharge will be denied for improper activity, including:

Transferring property prior to bankruptcy to defraud creditors
Failing to list assets or debts
Destroying financial records
Failing to explain loss of assets
Failing to obey court orders
Failing to turn over records to the trustee
Discharge of Debts

Certain debts are not wiped out by the filing of bankruptcy, including:

Many taxes
Alimony, child support and related debts
Most educational loans
Criminal fines, penalties, and restitution debts
Debts incurred as the result of drunk driving
Debts arising from fraud, theft and embezzlement
Debts for willful and malicious acts
Debts which are reaffirmed.
Bankruptcy is often a very effective tool for obtaining relief from oppressive debt. The benefits of filing should be reviewed on a case-by-case basis with a full review of all other options. Special attention should be given to whether the debtor will receive a discharge, and the effects of the discharge. Spouses of debtors often receive indirect relief from a bankruptcy discharge, without having to file a petition. Bankrupcy can be helpful in dealing with secured creditors, and often allows a debtor to retain property and reduce his payments. The co-debtor stay for consumer debts in Chapter 13 provides some relief for a debtor’s co-signers.

http://www.rendlerlaw.com/personal_bankruptcy.html
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94. Sac Realtor
January 22nd, 2007 at 10:24 pm

Casey:

Have you contacted Jamba Juice about some kind of sponsorship? Subway has “Jared” and Jamba Juice could have “Casey”. The ad campaign could say something like “When Casey is not doing Sweet Real Estate deals he chills with a cool refreshing Jamba Juice”…

P.S. Chopper has some great ideas (and even if you don’t like what he has to say you must admit he has a way with words)…
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95. T.White
January 22nd, 2007 at 10:26 pm

Post No:82

Chopper said:
only having once to call maintenance for a backed up toilet during my brief tenure there.

@Chopper

Was that backed up toilet the result of a Super Grand Slam?

Sorry every( and yne)one.

Chopper, seriously, by the length of your post and the scientific vernacular, if I didn’t know better I’d swear you were T from MBA who just smoked a fat one.

‘cept funnier.
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96. wealthyboomer
January 22nd, 2007 at 10:33 pm

Eligible Buyer Pool

The pool of eligible buyers is now shrinking. Consider the article “For Credit Risks, Home Loans Harder to Get.” Here are some excerpts regarding changes in lending standards:

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Down Payments: New guidelines require 10% down, according to Gary Akright, a mortgage broker at Dominion Mortgage Corp. The previous guidelines required 5% down
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Credit scores: Previously, borrowers with a FICO credit score as low as 570 (out of 850) could qualify for a single loan financing 100% of their home purchase, Mr. Carmona of Homewood Mortgage in Carrollton said. “Now, across the board, it’s jumped up to a 600 FICO score for an 80/20 loan”
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Subprime Rates: Rates on subprime mortgages have risen about a full percentage point since September, Mr. Carmona said, while regular mortgage rates have been relatively steady
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Savings requirements: “They want to see borrowers have at least three months of reserves in their account in case of an emergency,” Mr. Carmona said. “They want to see it in your bank account saved for at least 60 days. Usually, subprime lenders didn’t ask for that.”
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97. Catherine
January 22nd, 2007 at 10:41 pm

@Chopper
Your post was the most hilarious piece I have read in ages. I wish I had your writing talent. Thanks for the great laugh - I needed it.
Oh, and thanks Casey for letting it go through.
C
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98. Rob BBB
January 22nd, 2007 at 10:54 pm

You really should get sponsorship for this website to make some money you can bank for new deals and pay back some of your debts. Before you made.. what.. a couple thousand a month from ads? There is probably a lot more money to be made here. You are just losing money by not having sponsorship.

And all money can be leveraged 5x or more. So, that money just turns into more money that can be invested.

On another topic… I’ve now heard of 3 different occasions where people have been posting negative things under my screen name on other boards.

I know that me being a positive, upbeat and successful person is difficult for many of you to deal with because many of you don’t seem to have much in life and want to just tear down people that are successful. But I won’t stand for identify theft.

I haven’t figured out a way to stop it but, short of filing lawsuits (which I will do if pushed), I probably will just have to register my name on the various sites or ask the admins of those sites to revoke the registration of those who have already done it.

It is not trolling to say the housing market has bottomed according to leading experts in the field (and according to what you just see looking at home builders and listings around the country).

Casey may lose a few more of these properties but he should be able to get back in the game after cleaning this mess up a bit more. If you look at statistics, most successful people declared bankruptcy at least once. Casey is no different (but may not need to file in the end). You have to fail a few times before you succeed.
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99. HungryBear
January 22nd, 2007 at 11:01 pm

Casey, you NEED this deal. $1Million CASH BACK!!!! Go get this sweet deal, dude. You can use the $1M as downpayment on an apt complex.

http://lasvegas.craigslist.org/rfs/266955274.html
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100. Time Will Tell (Begging)
January 22nd, 2007 at 11:33 pm

OH, please Please PLEASE PLEASE PLEASE shut down this blog. This party is out of control. You are in it up to your neck, and there is nothing this blog can do for you. Some of the haters are vulgar, some are nasty, some are offensive (some are damn funny), but some are malicious and out to get you. Stop giving them a target.

If you have a reason that materially helps your financial case or your legal position, by all means take the crap (and shut up about it). If it is about getting attention, or some way to generate sales, or networking leads for your future deals, it’s pretty much a bust. Give it up. It ain’t a RE blog, it’s entertainment.

Casey, you are getting pretty testy about stuff (understandably). However, YOU are in control. If you don’t like what people have to say, kill the blog. In a week your traffic would dry-up. In 2 weeks people would forget about you, except as a side note.

You put this in motion, but it’s bigger than you and out of your control. If you want to keep the blog and deal with people talking about you.
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101. rOB bbb
January 23rd, 2007 at 2:03 am

@ 108. Rob BBB
January 22nd, 2007 at 10:54 pm

I know that me being a positive, upbeat and successful person……But I won’t stand for identify theft.

Upbeat, successful, just not very bright. Please share how you managed the successful part with such a moderate IQ?

Here’s my idea for you…..Change your name every time that you log on. Then when someone uses your identity, you don’t care because you’ve already got a new identity. The only tricky thing is to select a name that no one’s using. It’d be a real b**** to have your identity stolen even before you choose one.

Alternately, you can simply raise awareness that screen name theft is intolerable and simply not done on polite blogs. I think a slogan would be a good place to start. What do you think about:

“Don’t rob from Rob”

See, get it? It’s a play on the word rob, and Rob is your name. Really catchy, don’t ya think?

If all else fails, you can do what I did. When I was 9 years old I was shocked — SHOCKED I TELL YOU — to find that :::SOMEONE ELSE HAD MY SAME NAME, both first AND last::::: How dare they. Well, it cost me $5,000, but that problem was eliminated permanently. If you’re interested, I think we could discuss details.

P.S. This is not a very polite blog, in case you had not noticed.

P.P.S. I’ve since found that many other people had my name. I couldn’t very well whack ‘em all. I’ve learned to live with it.

P.P.P.S. Did I just admit to a crime on the Internet? Ah well, that does not seem to matter much ’round here.
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102. Johnny Hooker
January 23rd, 2007 at 2:12 am

Why are we assuming that Our Boy is a competent programmer? As far as we can tell, it’s only from Our Boy’s statements that he held some sort of computer job before his real estate investing adventures. That’s a vague statement at best (assuming Our Boy’s veracity), and can range anywhere from data center tape monkey to kernel hacking sysadmin.

Assuming he’s some sort of web guy, with some PHP chops, is there a portfolio he can point us to? Note that this blog is a hosted WordPress installation, and should not be used as an exmple of something anyone would pay decent money for Our Boy to set up for them. Remember that he was hoping to “trick” a PHP programmer into writing a WordPress plugin for him.

Why do we assume he can make an actual living doing computer stuff?
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103. Shallow and Vain
January 23rd, 2007 at 3:14 am

Are you going to add a keyword search feature to this site? I want to gloat at my past comments.
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104. The Trailer Park Boys
January 23rd, 2007 at 3:42 am

“As you know, the property is listed at the ‘rock bottom’ price that the lender will approve. Investors using shark-like tactics will continue to low-ball for offers coming in, and the only hope of saving this property at this time would be to get a serious buyer interested in home occupancy that is willing to pay what the bank is willing to accept, AND, at this point, that would only apply if the bank would grant an extension.”

I like how she uses the words “shark-like”.

Take my advise and let the banks foreclose on everything you got. That’s like telling them to F#$K-OFF.

Can things get any worse??????

Julian

Trailer Park Flippin Guru
Cash Flow Specialist
Rehab Guru
“Organic” Farmer(you know what im talking about!!!)
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105. Bubbers
January 23rd, 2007 at 4:52 am

@ Dolph de Roos
Casey was not calling the RE agent his assistant. Those two paragraphs were quotes from his RE agent. The RE agent lost her assistant. That is her excuse for dumping Casey.
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106. TK
January 23rd, 2007 at 5:07 am

Casey,

Please heed this piece of advice, I beg of you:

Discard the term “Sweet Deals” immediately.

Whenever you say it I am reminded of a certain other empty, meaningless phrase which was (wisely) done away with. “Stay the course”.
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107. Jamba Juice CEO
January 23rd, 2007 at 5:11 am

Just wanted to drop a note and say that business has increased at least 42% since you started this blog. Thanks for the free advertisement and keep drinking that Jamba Juice! Have a Jamba-rific day!
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108. Fashion Industry Ceo
January 23rd, 2007 at 5:55 am

I’m glad to see you rid of the google ads and went with sponsorship…more money!
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109. Jack Bauer
January 23rd, 2007 at 6:15 am

Casey, now that I dont work for CTU anymore I could possibly infiltrate some of the banks that hold the notes on your homes and make them “disappear”(if you know what I mean) . I have also been in touch with Tony Soprano and we are considering helping you out by “liquidating” some of your assets. I should have my hands on 4 suitcase nukes by next Monday that would take care of Larchmont, Burdett, Modesto and Rio Rancho for you. I just need to make sure that Ogg, Sputnick, the Trailer Park Boys, Stephanie, and Tim from the MB all get out ok because we don’t want any “collateral damage”. I already had to put Curtis down, I dont want to hurt any more haters.
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110. Craven Moorehead
January 23rd, 2007 at 6:31 am

Casey, I just paid off my house thanks to you. I signed that note five years ago when I didn’t fully understand what I was getting into. So it really doesn’t count so I just took it off of my balance sheet. I’m now worth $250k more than I was yesterday. Woo hoo!
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111. magyar lany
January 23rd, 2007 at 6:56 am

applause for chopper
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112. Monty Burns
January 23rd, 2007 at 7:12 am

“I can settle my debts and get back into doing sweet deals.”

Holy crap…. how exactly are you different than a junkie or an addicted gambler? You’ve got to stop. Every addicted gambler sits at the table and thinks that they just need one score to get out of this mess right before they run to the ATM for a cash advance on their credit card.
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113. Bryan
January 23rd, 2007 at 7:16 am

Does anyone know the definition of “judgment proof?” Or is it “Execution Proof?”
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114. Big Cheese
January 23rd, 2007 at 7:34 am

Tim from MBA,

I haven’t had any posts deleted thus far either but then I’ve always tried to tone down the harshness.

I’ve also seen quite a few posts go through with the word G—– in it… maybe it depends on Ca$ey’s mood…? I guess as long as you don’t talk trash about her it’s all good, right?

-Big Cheese
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115. Jamb-on-it, J-j-j-jamb-on-it
January 23rd, 2007 at 9:22 am

Chopper-
I like your ideas about the cloning. Think how much nicer this blog would be with festive multi-colored Casey clones posting their sweet confused thoughts. Plus, when the blue (original), pink, yellow, green, and red Power Caseys come together, they can form Ultra-Mega-Floptron and defeat the Haters with an awesome sweet Jamba Juice attack. (”Form legs and arms!… nahnahnah… Form sweet rims!… nahnahnah… Form blue ball and argyle cap! Nap Attack!!!”)

I disagree somewhat with your scientific analysis, however. Using Bloch’s Theorem, I calculate that Casey may never get out of his infinite potential well. Any measurement of the “profitability” of Casey’s deals will inevitably collapse their “sweetness”. As you know, the product of delta sweet and delta deal must always be greater than the Serin Constant, which is -2.2 x 10E6.

On an unrelated note, I’ve only had two posts deleted (out of probably 75). Not sure why, I’m usually only moderately obnoxious. I’m more of a happy hater. I’ve read some of the deleted ones on other sites, and they can be pretty angry hater. I mean, come on, if the post starts off with something like “Casey you stupid POS”, do you really expect him to post it?
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116. Snoring
January 23rd, 2007 at 9:24 am

“Your comment is awaiting moderation by the blog owner. (Typically takes 12-48 hours).”

The sad thing is, that’s a lowball estimate.
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117. GameOver
January 23rd, 2007 at 10:17 am

@Jack Bauer

Nice to see you made it out of China. Sorry you had to kill Curtis, life is a b!tch.

Good luck with those nukes!
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118. T
January 23rd, 2007 at 10:27 am

82. Chopper said: “As a side note, I’m very intrigued by your idea about setting up a structured settlement with a wrap-around loan while eating a Moons Over My Hammy.”

Winner : Best post of the day.

95. And so it goes…. said: “The comments about her cleavage and wearing too-light foundation were beyond insulting.”

You’re obviously a man. We “sisters” have to stick together. Lord knows I’d want someone to tell me if my foundation where too pink and too light for my skin tone. I was doing the woman a favor. I guarantee she’s already hit up the MAC counter and has purchased a brand new shade.
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119. dumbererer and dumberereest
January 23rd, 2007 at 1:49 pm

yeah casey i see lots of people have caught on to the other already well known facts which your not posting or approving

you spend alot of time lying about vulgar comments

you must have to reject 80% of your comments since haters are attacking you from all sides from other blogs and websites…
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120. Bill
January 23rd, 2007 at 2:24 pm

Why file bankruptcy right now?

That just brings scrutiny CS doesn’t want.

For now, focus on getting rid of the real estate (it’ll all be gone in a few months, one way or another)

Even if the $50,000 note survives, it just more unsecured debt.

It will be sold to a 3rd party if it is not being serviced (same as with the other unsecured debt)

CS can then make token payments on the unsecured debt until he’s ready to file BK, probably a couple of years from now.
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121. Endgame Observer
January 23rd, 2007 at 2:55 pm

Chris??

Utah??
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122. T
January 23rd, 2007 at 3:02 pm

Like Tim from MBA, Casey’s never deleted any of my posts, either. And I’m not always as nice as I’ve been today so go figure.

IN YOUR FACE, Dolph DeRoos!! :)
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123. TRUSTEE SALE???
January 25th, 2007 at 12:09 am

So what’s happened in Modesto today?

UncleC
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124. JTR
January 25th, 2007 at 8:14 am

So wow….what did I say that caused you to delete ALL my posts? That’s pretty harsh Casey…..
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125. JTR
January 25th, 2007 at 8:16 am

whatever…take out all my comments…. block future comments (as duplicates) Have a GREAT life…. I’ll surf around in a few months and see what jail you’re in.
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126. Coyote Investor
January 25th, 2007 at 12:35 pm

Case History and Community,
So I am confused. I’ve never been underwater with so much debt. What happens with unsecured creditors who simply don’t get paid? What options does, say, Wells Fargo have to begin to recover the 83K that Casey owes them. I’ve heard people here say that Cashcall is particularly agressive. What does that mean? What tactics, specifically, what actions can CC take that will cause them to bubble up to the top of the mail pile (assuming it has been opened)?
What specific options do the various government agencies have who are owed property taxes, income taxes, sales taxes etc.? Is there an order of payment that will put government ahead of Cashcall? I assume that the unsecured personal loans, including the high interest loans with balloon payments, have no legal leg to stand on unless there is significant documentation on Casey’s
obligations. Am I right that they are at the end of the food chain?
Would someone who is familiar with BK outline what a typical settlement might look like and how it would differ from CS’ current strategy of deny, ignore and forget.
Sweet.
coyote
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127. yolanda
January 31st, 2007 at 11:48 pm

All I can say is WOW, there is a lot of information here. Primarily this blog is awesome just for the sheer fact that it is probably what a LOT of AMERICANS are facing on a day to day basis, but on a way smaller scale. Read and learn…and btw Casey, when you are done and need the Credit Repair….Look us up. Simple service, simple goals,,,,,you could possibly be the BEST client for us by the time this is all said and done. The sweetest deal will be when you have your MAGICAL THREE DIGIT NUMBER RESTORED TO ABOUT A 680.
God bless ya!!!