FLASH: As predicted, Casey Serin and Iamfacingforeclosure.com is baaaaaack

Two words: States Evidence. OK, two more words: Mainstream Media. Watch the kid score some bigtime stories (Time, Newsweek, Jay Leno?). Watch Congress subpoena him to testify - now THAT would be good theatre.

Casey will someday be seen as the human face of an out-of-control mortgage lending spiral that took the nation on a joyride ending in a horrific, historic and epic crash. No matter what Harvard University's Joint Center for Housing Studies tried to tell you.

Here's a snippet of Casey's latest. I'm glad the kid's back - he adds to the bubble story HP'ers - like it or not.

You see, Sunday morning I published the previous article “Am I going to Jail For Mortgage Fraud?“. Not only did I publish it, but I also sent an email to all my contacts to update everybody on my blog. I wanted to encourage feedback and I was also asking for referrals to good real estate / bankruptcy attorneys. I did get some good feedback, thank you to everyone who replied.

Right after I sent the email out I got a call from an associate. He urged me to take the site down immediately because:

* People will not want to do business with you. Because who knows what Casey might write about me on the Internet? If I do a deal with Casey and he doesn’t like something, what if he will try to “expose” me?? Who knows what Casey’s intentions are anyway?

* You will have a bad reputation for talking too much. We can’t trust Casey. We better not invite him to any meetings. Most definitely we better not share anything about our deals or Casey might think something is “shady” and want to “expose” it on his blog.

* If there is an investigation everybody involved will be hurt. All the well-meaning real estate professionals who helped Casey do the deals will now be in jeopardy because Casey is talking too much! Even if a person is proven innocent, just being in the negative spotlight is often enough to destroy a good reputation.

* Somebody will go after you! Being public and being controversial is inviting trouble. Admitting to doing “shady loans” is double trouble. If somebody’s income stream will be affected by your exposing of “shadiness” they may try to shut you down. There are a lot of just plain angry people out there. You may step on someone’s toes with your “honesty”.

* You spend too much time blogging. What about selling your properties, rebuilding your business or looking for a job?

Very valid points… Thanks to the associate who made that phone call for opening my eyes to the range of negative possibilities. I am known for taking risks and I am also known for sometimes taking dumb risks. I don’t want to hurt people around me with my risks. I don’t want to have a bad reputation among the investors in Sacramento.

So that’s why I pulled the plug.