My Facing Foreclosure story was on National Public Radio yesterday morning, and on KFI AM 640 talk show in Los Angeles last week. If you missed it, just click the links below to listen.
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KFI AM 640 in Los Angeles:
I was on the John and Ken Show 6PM Hour on October 13th, 2006. Once on that page, scroll down to the right date.
Here is the direct download link - 33MB MP3 audio file - Right click on the link and click “Save As” to download to your computer.
49 Comments
October 20th, 2006 at 10:48 am
You’re still an irresponsible fraud, but you were on NPR, that much is true.
Now that you’re famous, please let me know how much money I can send you…we can call it a ‘loan’…LOL!
October 20th, 2006 at 10:49 am
Casey-
I agree with those who think that you should find a job. However, I don’t believe that you really want to find one. So, I found a contest this morning that you might want to enter for some food money:
http://dreamcorp.blogspot.com/.
While you may be enjoying the publicity, your 15 minutes of fame is probably drawing to an end. A job will be there when the publicity isn’t.
Good luck, but start making some of your own luck.
October 20th, 2006 at 11:38 am
In accordance with Star Fleet directive #3X-4a, I am countermanding Star Fleets evacuation orders and holding off at a safe distance from this imploding system….
http://www.realmeme.com/roller.....tus_update
October 20th, 2006 at 12:14 pm
Casey,
You’re 24 with the maturity level of maybe a 14 year old (possibly younger).
What in the hell are you thinking? You’re giving all the information a prosecutor will need to put you away. You’re a slam-dunk case for a prosecutor - you already did a lot of their work for them!
You’re giving your creditors all the information they need to ensure that your debts are never discharged in bankruptcy.
You’re digging deeper and deeper.
If you put your mind to it now, you might be able to have this mess sorted out by the time you’re 45 years old or so.
But that requires some level of intelligence and understanding of how our laws, credit system, and bankruptcy sytem work.
Hit the books dude! Your education is woofully inadequate. The more you talk, the more you post, the longer it’s going to take you to get out of this mess - because you’re giving the other side (be that creditors, prosecutors, or bankruptcy trustees) everything they need to make your life miserable for a long long time.
Good luck.
October 20th, 2006 at 1:39 pm
This is obviously a University study. Anyone check to see if Casey is enrolled?
October 20th, 2006 at 1:59 pm
NPR Listeners Take Note!
If you’ve come here because of what you heard on NPR, be informed that you have landed upon a slow motion train wreck in progress.
Casey is little more than an immature, uneducated, self-admitted criminal fraud who decided to attend “millionaires conferences” instead of getting an education and finding honest work.
He was lured by the gurus who preach that working is for chumps, that entrepreneurs are suckers, and that “real” wealthy people simply buy and sell houses.
You’ve heard the ads. No money down. Cash back at closing. Zero percent financing. Low monthly payments.
Well, Casey is a symbol of the real customers of the gurus’ magic elixirs: the greedy, the lazy, the dim witted, the young and ignorant.
Unfortunately, in Mr. Serin’s case, he’s openly admitted multiple counts of fraud in all of his financing. He is almost assuredly a tax cheat. And he’s going to pay for many years after he gets forced into bankruptcy, tax court, and hopefully jail.
You see, freedom of expression protects the gurus who feed you a formula for free money, even if it necessitates committing fraud to execute. That’s because they don’t directly tell you to go break the law.
But there is no defense for those who take it upon themselves to carry out these crimes. Myself, and most others who’ve posted here, will be quite relieved to find that Casey and all like him are not allowed to dump their crimes upon the rest of us to pay for. Let him pay it back himself, even if it’s with his own freedom.
October 20th, 2006 at 2:01 pm
Now that you’re famous… what did your bankruptcy lawyers advise you?
We’re all dying to know ….
October 20th, 2006 at 2:01 pm
I think you need to do a little jail time just so you can finally hit rock bottom then have some time to think about what you want to do with your life, then start fresh when you get out. Its the only thing right now that is going to prevent you from hurting more people. Victims - please help this poor guy and everyone he is hurting or going to hurt in the future, you know what to do…
Have you ever seen this snl skit: “Don’t Buy Stuff You Cannot Afford”?
http://tradergordo.blogspot.com/
October 20th, 2006 at 2:08 pm
Casey, please, please, do not try to cross the border into Canada as some have suggested in other posts.
If you come, we will hunt you down like a rabid dog and turn you over to the American authorities faster than you can spell NHL.
You are goin down, boy.
PS: You might want to watch, “Trailer Park Boys: The Movie”, before even thinking about coming up here!
October 20th, 2006 at 2:10 pm
Casey,
I am sorry that most people want to kick you while you are down. It’s a sad reminder about how messed up society is, but when they make mistakes, hopefully nobody will be there to tell them to drop dead.
The bottom line is you made mistakes…and unfortunately you made severe mistakes in real estate, so all of the 9-5 worker bees are bitter because a) you dared to take risks and dream and b) you have proven to them that dreaming doesn’t work so it is safer to sit around working for others rotting away until you can collect social security. Idiots…
You can be very thankful that you have such an entrepreneurial spirit, it is what is going to take you wherever you want to be, provided that you learn from your mistakes.
I look forward to your growth!
Monica
October 20th, 2006 at 2:14 pm
THIS IS YOUR FIFTEEN MINUTES….. ( 15 min of fame in the U.s. beats 15 years of fame in Uzbekistan)
October 20th, 2006 at 2:24 pm
Steve,
Casey’s education isn’t the only one that’s “woofully inadequate.”
October 20th, 2006 at 2:33 pm
Casey, my hat goes off to you for your exceptional writing skills. Whether this site is a sociological experiment, or just a scam to make money through ads and interviews, you’ve done a terrific job.
I would never listen to your advice about real estate (obviously), but if you ever published a book describing some of your creative writing techniques, I’d buy it.
Lonelygirl15 is nothing compared to you.
October 20th, 2006 at 2:47 pm
“Your education is woofully inadequate.”
No comment…
October 20th, 2006 at 5:05 pm
If you spent some time posting “for rent” ads on Craigslist instead of getting interviewed on NPR, you might have at least some of your properties rented out by Monday.
That would mean more cash in hand, something you badly need.
But oh noes! Renting is hard. Someone might call you because their toilet was clogged and expect you to fix it! Nobody told you in those expensive seminars that you might have to actually earn your profits!
Good luck with the BK lawyers next week.
October 20th, 2006 at 5:29 pm
Upon reading some of these comments, I am reminded of a rule known to audiophiles, women, and gay men everywhere:
“The louder the noise, the smaller the equipment.”
That said, do tell us what the BK lawyers had to say.
October 20th, 2006 at 5:39 pm
Casey,
Congrats, you put everyone for cusswords but don’t do anything about imitation “astrids”.
Dude, I am so not writing you a glowing reference letter for your job interview (if you ever get around to it) or parol board!
October 20th, 2006 at 5:45 pm
So is this all about getting famous? You screwed up royally so you figured maybe the way out was to try to create a kind of reality show?
October 20th, 2006 at 6:25 pm
Hi Casey:
I listened to your interview. You’re actually a pretty good communicator.
Your writing could use some polish (and, of course, some attention to the difference between “lose” and “loose”), but I’m still impressed, especially so if English isn’t your first language.
I was also pleased to hear that while your interviewers gave you every opportunity to blame the gurus, the lenders, etc. you chose not to do so. It doesn’t excuse you, but it shows a lot of character.
October 20th, 2006 at 6:30 pm
Casey,
On the brightside, at least you didn’t put your elbow through a $139 million Picasso painting that you had just sold. Just goes to show that even the top dogs in the real estate game, can make some pretty bad errors. However Steve Wynn, did own the painting and wasn’t leveraged out the $139 million via fraudulent loans.
For the last time folks, obtaining money dishonestly and misrepresenting ones financial status in order to gain the confidence of the lender ( CON), is not part of being entrepreneurial. Taking gambles, with money obtained fraudulently, is not a positive example of pursuing ones dreams and taking risks. It is criminal.
Nobody is “hating” on those who pursue the American dream and have a positive entrepreneurial spirit. If someone were to steal your identity, bleed you dry in the process, and make a million in real estate with their ill gotten games, would you consider them an entrepreneur?
October 20th, 2006 at 6:58 pm
I agree with most of the comments here, except for the extreme vitriol. I am not sure why so many people are angry at Casey when a certain very well-known “real estate expert” in New York City with bad hair regularly loses billions of dollars for his investors, declares bankruptcy multiple times, and appears to be the only person in the world who loses money while operating a casino. Casey is a small fry in a big pond.
October 20th, 2006 at 7:12 pm
Perhaps an infomercial with Borat? With his endorsement and your expertise, no one would ever remember the legendary Tom Vu!
October 20th, 2006 at 7:31 pm
Lots of people gamble.
October 20th, 2006 at 8:12 pm
Monica,
people aren’t kicking him because he’s down, they are kicking him because he did something criminal. Do you understand that? Would you give a pat on the head and a ‘there, there’ to a hitman who missed?
For Pete sake wake up.
October 20th, 2006 at 8:36 pm
oh boy,where do i start.lad, you have brought out a little bit from everyone.classic anger,you have become the mayor in the dunk tank at the fairgrounds of the city that just lost a thousand jobs to india or china or in this case maybe uzbekistan.dont fret.much of this anger gets disbursed here. like electricity in a light bulb.its good, there will be a few less fist fights in roseville bars tonight.no one is pure.doesn’t mean we shouldn’t try but virtuousness has been severly undermined of late with the likes of, for example andy fastow getting 6 years or the hp scandal or dick grasso’s greed.this american experiment in capitalism seems more sleazy than ever. it’s the tug of good and bad,right and wrong it’s your neighbor letting you know your grass is getting a little long.it’s the real glue that keeps us all as one.
October 20th, 2006 at 8:59 pm
Monica
You are a moron…please don’t give us anymore of that dare to dream crap… I bust my butt everyday and I don’t sit around waiting to collect social security, since I am well aware that by the time I need it, it won’t be there anymore.
“It’s a sad reminder about how messed up society is” this line made me laugh. So society is sad because we are telling this criminal that what he did was bad and that he should be punished for it, but his committing fraud and getting loans for 2.2 million isn’t?
Let me guess..you are a bleeding heart liberal right? Ex-hippie maybe? Granola?
It’s a sad state of affairs when someone in this country lies and cheats his way into what he thought was going to be easy money, and some moron like yourself tells him that it’s ok, that he didn’t do nothing wrong, that he dared to dream, and that we are treating him too harshly. You feel so bad for him go ahead and donate some money to this loser’s dream.
There are serial killers murderers and rapists that dared to dream too…you going to excuse them as well?
October 20th, 2006 at 9:38 pm
Monica
What are you? 12?
He commiteed fraud. This isn’t about kicking someone when they’re down. This is about someone taking accountability for what they’ve done.
Casey hoped to get rich quick. The “entrepreneurial spirit” as you call it requires sweat and committment. All Casey has shown is a desire to ride the real estate train while the gettin’ was good. Unfortunately he didn’t research the market very well.
I don’t have any reason to wish Casey any ill will. But I don’t like to see people flagrantly admit to trying to work the system and get away with it. I see this blog as nothing more than an attempt to draw attention to his situation in the hopes that he’ll get bailed out somehow.
I would have a lot more admiration for Casey if he was working to pay for his expenses, and trying to find a legitimate way to pay his debt. If he actively tried to rent out the property or at least DID something rather than just looking for more media exposure.
October 20th, 2006 at 10:16 pm
Your fifteen minutes is over thanks to a horny deer attack.
http://mcfnord.livejournal.com/723108.html
October 20th, 2006 at 10:17 pm
Casey,
If, repeat, If, you are in the hole as deep as you claim, permit me to suggest a possible way out that doesn’t entail jail, fleeing the country, suicide, drug dealing, bankruptcy, gambling, larceny, kidnapping, extortion, etc
Well…, actually, it is gambling- but, hey, it IS LEGAL, which is good, right??
O.K. So here it is.
Forget all the advice from the ‘haters’ and the ‘well wishers’ and…
1)Borrow as much money as you can from your ‘friend’.
2)Open an online trading account.
3)Buy (or sell) the highest alpha, most volatile securities you can find.
(At this point you should be very familiar with the sick to the stomach feeling you’ll encounter)
4)Book profits; pay bills.
5)Take advice from previous posters re: renting properties (even at losses).
6)If profits don’t materialize, seek advice from tax attorney re: compounding Re losses with trading losses.
7)If you do end up on the inside, at least you may have a legitimate tax loss.
I think it was Jimmy Cagney who said:
Steal a hundred, and they put you in the stir;
Steal a million, and they’ll call you ‘Sir’.
8)Also, if your legs are broken, you may be entitled to claim the 7.5% medical expense deduction!
Good luck, Sir!
IF you have transgressed the law, I recommend you consult an attorney.
IF NOT, consider incarceration as the housing market ‘bounced back’ in a few years and your investment ‘losses’ turned into a ‘lost real gain’!
Your biggest advantage seems to be: you don’t have much to lose (your marriage notwithstanding) and your iniative.
Use your advantages.
Lastly, during both radio interviews, i noticed your apparent pride resulting from the gain on your first flip.
You MUST realise you are not the only person in the world (and most certainly not the only person in CA) to effect a prosperous flip.
Your vanity shone through there fella.
October 20th, 2006 at 10:33 pm
Dear Legion,
Of course I am aware that he committed a crime, but it’s not something that can be changed now. He cannot undo it, he has to move forward and repair as much of the damage as he can. Does this mean it is okay, OF COURSE NOT! There is plenty to do in real estate without breaking the law.
But writing day after day to pound this kid is stupid. It doesn’t make sense and I hope it doesn’t happen to any of you judgemental a******* .
Comparing fraud to rape is something only an idiot would do and that is probably what you are. Breaking the law is breaking the law, but get a life already. Trust me, he is not going to get away with anything.
I’m not fond of hippies and I don’t eat granola, but I do eat a******* like you for dinner!
Why don’t you get back to your sterile little cubicle and make another deposit into your 401-loser-k….
I will not be responding to any more of these petty posts, so say all you want about me…
October 21st, 2006 at 1:20 am
Casey, don’t listen to the sour grapes of these 9-5 workaday wage serfs. They’re just bitter because their wives have been on them to spend more time at home, but their massa is making them work overtime again. You did the right thing to pursue your dreams, and it’s ok that you had to embellish a little on some of the Man’s forms to do so. If the Katrina victims who asked for a little extra aid for their houses had the ability to start a blog I’m sure the haters would be using that as a soapbox for attacking them too. Sheesh!
October 21st, 2006 at 3:51 am
Hi,
Here’s a huge secret. Making money is hard. It takes lots of intelligence and hard work. You’re a pretty low IQ guy, from your website… you’re not going to be featuring in any upper percentiles of IQ tests. You’re probably willing to do the hard work, but you’re, frankly, too stupid to make significant amounts of money, at any stage of your life, let alone at 24.
My advice is to declare bankruptcy, go get a webmonkey design job, and try to rebuild your financial position over the next decade. Start saving for a pension at thirty, and you might have financial independence in your sixties or so. Frankly, that’s the best you should expect, from your talents and abilities
Later,
Alan
October 21st, 2006 at 8:06 am
Renting may sound good in theory. After all, SOME money is better than none even if it doesn’t fully cover the payments. But would the lenders actually prefer this?
If they’re still in the “we don’t care how you get the money, just get the money” mode, then I guess they don’t care.
If they’re in the “well, looks like we’re going to have to foreclose and dispose of this property” mode, then they may prefer the houses remain vacant. Their goal, after all, is to get rid of the property. A tenant (especially one with a long-term lease) can make it more difficult to sell.
If there is any hope at all of avoid foreclosure, seizure, and sale, then renting may indeed make sense. Realistically, I don’t know if that’s possible.
And even if a tenant were to accept a month-to-month lease, Casey would need to be absolutely clear that the tenant may have to vacate soon, that the landlord will/may soon be a bank, and that a variety of inspectors, appraisers, etc. may soon need access.
Not disclosing all of this in advance would be unethical. If I were a tenant, I know I wouldn’t want to move into a house under these conditions. If I did so without being warned upfront, I’d be really pisssed.
October 21st, 2006 at 11:38 am
Casey,
I suggest that it is time to close down this blog. Lay low for a while since you have enough suggestions to digest. This is a land of opportunity for those who gained wealth in ethical way and it can be a lynch mob if someone breaks a law.
October 21st, 2006 at 1:02 pm
Casey,
How did the meetings with the BK lawyers go?
You mentioned that paying them was an issue. Have you thought of asking your parents for the money?
Look into counseling for your addiction. There’s free services available.
http://www.sacdhhs.com/article.asp?ContentID=168
October 21st, 2006 at 7:52 pm
Casey
You are really in a unique position to do some pretty risky stuff. If everything you said is true you need to do some real stupid stuff quick. First off you are screwed. If you don’t take care of all of your debt someone will come after you. If they don’t get all of thier money they will get legal on you. This means you are ruined if its a dollar or a million. So this is what you have to do.
Get your hands on a couple of thousand bucks. Think of what a desperate scumbag would do and then do it. I reccomend all types of gambling. You are not desperate enough to by Lotto tickets ( wait until next week) but very close.
Try and find one of your seminars on investing and open an online trading account. Find one that will let you trade options immediately. Next research what you think will happen to an individual stock in the next week. After defining what will happen write it down. Next turn on your computer and do the exact opposite. Buy the riskiest options available and roll the dice.
If it hits do it again until you make enough to keep the wheels on your life. If it misses you are still screwed but you bought a day or two of hope.
Good luck
October 21st, 2006 at 10:10 pm
Alan,
You are an idiot. The vast majority of millionaires are not smart people. As a matter of fact, most smart people find it very hard to take risks, and risk is what brings reward.
Now the risk that Casey took was not such a good idea, but to imply that it takes alot of brain power to make alot of money is naive.
Go back to your cubicle and punch the time card some more dude.
October 21st, 2006 at 10:26 pm
“I hope it doesn’t happen to any of you judgemental a******* ” by Monica
And exactly what kind of judgemental person are you?
You ARE a moron, and I don’t sit in a cubicle, nor do I put much into a 401k. I watch my own stocks thank you very much.
October 21st, 2006 at 11:34 pm
Casey,
You owe roughly $211,000 per yr. in interest payments ALONE!!
You have 5 houses sitting EMPTY every day- this is the same as RENTING 5 medium size houses and putting the balance on your credit card!
Its hard to believe you held on to these places for a year without doing this basic calculation (9.6% of 2.2 million is +200k per year in interest). You are being quickly BURIED in interest charges!
Most of your properties are valued THE SAME AS THE ZESTIMATE.
You did not purchase below market value. A quick check would have uncovered this. (I know Zillow opened in Jan of 06 but you could have done similar simple research).
You made so many mistakes in the beginning I dont think this can be worked out of properly.
Try the short selling to the bank, or something, but do it QUICKLY!
You are being charged roughly $578 per day in interest payments alone *not principal*. TIME IS MONEY
DO NOT get a job
DUMP THESE THINGS QUICKLY
You’re giving ME an ulcer!
October 23rd, 2006 at 10:22 am
I hope you are a registered Republican, so Jack Abramoff can be your mentor. Birds of a feather
October 26th, 2006 at 3:33 pm
You are obviously fulling everyone from the media to the masses. I do not believe a bit of your stories…You are creative I admit. You might succeed on selling the homes you proclaim are facing foreclosure. I guess you created a new way to sell real-estate. Bravo!