April 21, 2007

End game is almost here for poor Casey Serin at iamfacingforeclosure.com


From day 1 when HP broke Casey's story we've predicted massive media exposure (which has come - anyone see Nightline last week? The Economist? The USA Today?). We've predicted that Casey would become the face of the housing crash and mortgage fraud (which he has). And we've predicted that (after possibly some jail time) Casey would gain fame and fortune from this disaster (which he will). It is the American way after all. Especially watch for sharks like Kiyosaki and Trump to latch on.

Casey Serin, my friends, will be a famous rich man one day. Watch him doing speaking engagements, book deals, Senate testimony (wouldn't that be a hoot?) and more TV appearances.

But today, he's apparently hitting bottom. Isn't "despondency" one of the grief stages, after "denial" and before "acceptance"?

Although it pisses off most HP'ers who want him fed to the wolves, I wish Casey Serin well. In a country full of mortgage fraud and conmen, at least he came clean, whereas the other 99% are still at it. And unlike Sharpton with Imus, I believe in forgiveness and redemption. Plus I love his blog - it's a fricking hoot.

But here's Casey today on possibly shutting down his blog. The internets just wouldn't be the same without his site, so hopefully some HP'ers, even if you don't like the kid, get over there and tell him to keep blogging. Yes, there's one thing bloggers do, and that's stick up for each other. Well, except for some of us that is.

Debt. Finances. Blog. Foreclosure Site. Negativity. Haters. Details. Follow-through. Partnerships. Opportunities. Job. Book. Success story. Big deals. Crazy ideas. Passive income. Huge deals. Goals. Focus. Priorities. Marriage. Values. Faith. Purpose. Progress. Time. Finances. Finances. Finances…

The pressure of it all is getting to be too much.

This blog is on the chopping block right now… I’m seriously considering stopping this whole thing. It has brought me tons of great opportunities and contacts but its also a big distraction. I must either stop the blog, sell it or find a way to keep the time spent at bay.

31 comments:

Anonymous said...

This little crisis is an excuse for Casey to post another glamour shot of himselt. I see Jamba Juice empties in the background.

Anonymous said...

For how long has he been griping about money yet his site is still up month after month? One would expect him to be emaciated by now. Rather he looks to be maintaining some semblence of being well groomed. He seems more like the LonelyGirl15 than a real person.

The site is his identity. For him to talk of taking it down ranks with Robert Downey Jr. going off to rehab. Both just gets more publicity.

If this guy was serious he'd go do a two year Mormon mission with the truly needy. He's a moth and the internet is his light.

Ben Franklin said...

Yeah, and that Cho guy should be forgiven, since he mailed a self-serving manifesto to the media that "explained" his jumbled reasons for why he killed 32? Maybe he should be absolved, if he had only blogged about what was going on in his mind before he did it? That kind of logic is as nutso as Cho was.

Casey is no different; he broke the law (mostly civil law, but criminal law when he engaged in mortgage fraud), and thinks blogging about it is the answer? What a fool (and Casey didn't acknowledge that during the video of the presentation with Robert Kiyosaki, he was referred to as the prototypical "greater fool" by Kiyosaki. Of course, Robert had to dress it up with the character building aspects of this episode, when in the back of his mind he's thinking Casey was a perfect bag-holder, a perfect "greater fool").

For in the final analysis, Casey is nothing more than a cute termite: while not too damaging or threatening when there's only one, they are absolutely destructive when a colony grows within a home.

And that's exactly what Casey and his type did, destroying the American Dream of TRUE home ownership by outbidding "sincere" (owner-occupied) buyers who simply wanted to buy a HOME (not a house: there IS a difference). Casey and his ilk greedily snapping up available inventory (he bought 8 houses in 8 months, for crying out loud! What does THAT do to reduce inventory, if everyone did that? Uh-huh, it might just create an ARTIFICAL housing shortage, driving up prices to record levels!).

Worse yet, the guy admits to lying on loan apps, claiming owner-occupied status (which offers lower rates), lying about income, getting cash back on closing from the buyer, etc. ALL of that is out-and-out mortgage fraud, FBI stuff, and such activity has so spoiled the residential real estate market, as much as that toxic mosquito-laden pool in the Modesto house (that he's blogged about) is threatening the neighborhood with West Nile virus.

As usual, Casey doesn't "get it" that his lack of personal responsibility is ultimately destructive to society. I don't want to own THREE homes, as ownership is not just about "sweet profits", but about increased responsibility: if you cannot take care of ONE property, you should NOT buy eight (including out of state!) and expect things to be work out on their own.

Sadly, Keith, I really don't think you "get it" wither, that his admitting to being an idiot in public does NOT absolve him of his crimes and make it 'all good'. He's screwed alot of investors, and his actions explain WHY we're all going to be paying more for loans in the future. Those costs get passed on to ALL of us, in the form of increased property taxes, increased costs of loans, etc. Diffusion of costs across all of us DOESN'T make it OK (and you railed against a tax-payer bail-out, didn't you?).

There is this little thing called accountability, where one gets absolution, NOT just by publicly admitting their crimes (which IS a start), but by paying whatever penalty the judicial system demands as recompense to help make things right.

Such foggy-brained thinking, and the willingness to forgive and forget the cute and cuddly, is exactly WHY we're in this mess! If you're suggesting he can engage in mortgage fraud and walk away scot-free, then you're contributing to the decay...

Anonymous said...

Time for his wife to strip

keith said...

He should declare bankruptcy, turn states evidence, testify in front of congress, serve his jailtime, and move on

That's my take

Anonymous said...

leave the kid alone already, jeez man how long will your obsession with him go on for

Kerriella said...

I tend to agree with the guys (and gals) over at EN. This whole last post is a big set up to get the haters off his back long enough to launch the open commenting then he will be back to trolling about his newest win/win can't miss deal!

Anonymous said...

I hope he rots in jail a long time.

Hayley said...

C'mon Keith, this guy brings out the armchair psychologist/social worker in everyone. I would stake my house on it that he doesn't feel much of anything. Process yes, feel no. You'll notice how strategically he can give em' what they want, but never seems to be really effected by anything or anyone despit all the harrowing pressure and judgement. Classic no there, there stuff. There's no simmering anger or sadness under there, there's no simmering anything.

Your right though, people with this quality can and do get rich. Having no self can serve you well if you have enough savvy to let other people get off on creating it for you.

Kind of like sell your soul to create someone elses.

So, IMO, please don't anyone send him money.

lunatic fringe said...

RIP

anon666 said...

Hate to say it, but Casey Serin will never serve a day in jail, nor will he be criminally investigated.

The problem is much larger than him, he's small potatoes. The level of fraud, corruption and collusion in the mortgage/RE industry is mind-boggling. Don't you think the mortgage industry knew what was going on with the Liar Loans? In fact, I think this behavior was being encouraged. Classic Pusher/User scenario. The loans were pushed and people like him took the bait and used.

Anonymous said...

The day he's arrested will be a big day for the psyche of the housing crash

Uncle Al said...

I really feel sorry for that kid. Sadly, his blog and posts prove he is both the quintessential greater fool and f'd borrower. It would be a tragedy if he goes to jail. Afterall, he is already serving hard time.

He is not a criminal. He is simply young and naive. Like millions of other peoople, he bought and consumed REIC propoganda. Thereafter, he speculated and lost. The ridicule, failure, and daily confessions are punisihing enough.

I hope he wakes up one day and realizes the pain and destruction he brought on himself, his family, and his community. So far, his posts indicate the REIC kool aid still runs through his veins, silly little sod.

As silly as his blog is, it demonstrates to others the kind of dimentia some of these speculators suffer. What's more, his blog can be used to illustrate the follies of speculation. That, to me, qualifies as community service. He is doing his time.

Ben Franklin said...

Don't you think the mortgage industry knew what was going on with the Liar Loans? In fact, I think this behavior was being encouraged. Classic Pusher/User scenario. The loans were pushed and people like him took the bait and used.

Of course they did: in fact, honest appraisers have reported out-and-out evidence of fraud, and the State boards and Federal regulators dismissed them as cranks. We only see the rush to regulate AFTER the market has waned; typical behavior.

Bottom line: EVERYONE in the REIC, and most in Government, including State and Federal officials from Bush & Greenspan on down, KNEW exactly what was happening.

This bubble was fed with full intentions, and regulators were encouraged to look the other way. It was a win-win solution, with home owners feeling richer ("wealth effect"), local governments getting more taxes (assessed valuations were helped by inflated appreciations), and the mortgage banks obviously making tons more $$$ on loans for greater and greater amounts. The only losers were the citizens who had to pay more for a house, as well as the citizens who will have to pay to clean up the mess and aftermath.

Remember: this credit bubble fed a housing bubble which helped stave off recession (for a few years). It was almost unpatriotic NOT to play along.

However, the lack of oversight was appalling, as it allowed completely imprudent behavior to occur; $$$ were free for the taking by the thieves.

Here's an unintended consequence: Al Qaeda made it CLEAR that they were going to dismantle the West via not just bombs, but by using our own capitalist tools against us... They levelled the WTC for a reason: they thought it would destabilize our economy (and it damn nearly did, in the aftermath).

HERE'S a real shocker for some of you: Al Qaeda used mortgage fraud to finance THEIR jihad operations against the U.S., funneling $$$ via operatives to their coffers:

http://www.aina.org/news/2007041194958.htm

If that clips off, here's the tinyurl:

http://tinyurl.com/25tcbh

So a lack of regulation comes back to bite us all in the ass....

Hayley said...

The day people ignore Serin is the day we will be making process.

buyerwillepb said...

Keep Going Casey!

I know it's difficult and hard work. Oh, and the guilty conscience is annoying and all.

But ya gotta suck it up and keep bloggin! Just remember, there will be plenty of time to rest...

WHEN YOU'RE IN PRISON!

keith said...

Do they let you blog from jail?

Jesus von Mises said...

I hope Casey keeps blogging. I want his stupidity fully documented.

I wish his name were more of a common reference point for the mindless euphoria that fueled this bubble. I guess it already is a reference point within HP and the housing bubble world but I want it to be in currency in the world at large.

I would like 'Casey Serin' to be like Einstein. Only opposite.

chris g said...

The only way Casey stays out of jail will be an easy one for the FBI. They will haul his ass in, and threaten him that if he doesn't spill the beans about all of the brokers and lenders that he's used, then he'll go to the clinker (unless they know this information already).

Casey's best way of staying out of jail is turning in the people who gave him these shady loans in the first place. Think of the brokers and lenders as the drug dealers...those guys almost always get prosecuted more heavily than the users.

Anonymous said...

i would be willing to be that there are many...Casey Serins...out there...

Anonymous said...

sense most white people don't really give a damn about the black community I think I need to give you all a heads up why black people were so angry about what IMUS said about black women. In the GHETTO you would get shot dead if you called someone a nappy headed ho because those are fighting words. Sense MR. IMUS did not know that, he thought it was a hoot to say it. The reason white people don't understand rap is because they don't understand black diction and what our words mean. I don't care for it either but if someone allows it what can I do. I rooted for MR. IMUS'S departure because he was an asshole before he said what he said. I don't give a damn about some ranch to asage his consious(?) about the negativity he sprouted every morning. Goodbye and get lost. And I hope when they do a DNA check on his tired old bones they find out somewhere in his past he has blood from an African tribe and his great great great grandmammy was a nappy headed ho.

Anonymous said...

ense most white people don't really give a damn about the black community I think I need to give you all a heads up why black people were so angry about what IMUS said about black women. In the GHETTO you would get shot dead if you called someone a nappy headed ho because those are fighting words. Sense MR. IMUS did not know that, he thought it was a hoot to say it. The reason white people don't understand rap is because they don't understand black diction and what our words mean. I don't care for it either but if someone allows it what can I do. I rooted for MR. IMUS'S departure because he was an asshole before he said what he said. I don't give a damn about some ranch to asage his consious(?) about the negativity he sprouted every morning. Goodbye and get lost. And I hope when they do a DNA check on his tired old bones they find out somewhere in his past he has blood from an African tribe and his great great great grandmammy was a nappy headed ho.




feel better now?

Anonymous said...

"I don't give a damn about some ranch to asage his consious(?) about the negativity he sprouted every morning. Goodbye and get lost. And I hope when they do a DNA check on his tired old bones they find out somewhere in his past he has blood from an African tribe and his great great great grandmammy was a nappy headed ho."

Nothing to do with this thread. Take you anger elsewhere.

Buckwheat said...

[begin racist rant]
blah
blah
blah
[/end racist rant]

Mort said...

#342. Casey Serin
April 21st, 2007 at 6:18 pm

Just got back from Modesto and looked over the instant comments that came in today. I have no words for this. I thought I can trust you guys to keep this place reasonable. I guess not. Too many accounts too ban. Too many vulgar comments to delete. Too much time spent on negative people.

I’ve had enough of this crap for now … and maybe for good.


And may I proudly say that one of those offensive comments was mine. Woo hoo! I win!

Anonymous said...

I'm not white and I don't give a damn about blacks killing each other and dealing dope to their own bruthas either.

Anonymous said...

California home prices to weaken further: Goldman
Countrywide could be hurt by exposure to Golden State, bank says
By Alistair Barr, MarketWatch
Last Update: 4:21 PM ET Apr 20, 2007


SAN FRANCISCO (MarketWatch) -- Investment bank Goldman Sachs is increasingly concerned about the health of California's real estate market and reckons mortgage giant Countrywide Financial could be harder hit than other lenders because of its big exposure to the state.
Countrywide shares slipped 2.5% to $37.28 on Friday, leaving them down more than 11% so far this year.
Mortgage delinquencies jumped 46% in California last year, vs. a 5% increase nationally, Goldman said in a note to clients late Thursday.
Delinquencies on prime and subprime adjustable-rate mortgages in California soared by 78% and 60% respectively, vs. 33% and 24% across the U.S., the bank added, citing recent data from the Mortgage Bankers Association.
Median California home prices are still creeping up, and the state's strong employment trends should support the real estate market. But Goldman is worried that surging prices in the state in recent years weren't driven by traditional factors such as strong employment and income growth. Instead, the bank reckons an increase in ARM mortgages offered to borrowers who were already stretching to buy high-priced homes fueled the boom.
Now that lenders are cutting back some of these types of loans and regulators are beginning to crack down, California home prices could begin falling later this year, especially in high-price cities and towns, Goldman said.
"Many metros in California have home prices that are not justified by the underlying fundamentals," Goldman analysts James Fotheringham, Daniel Zimmerman and Monica Gabel, wrote in their note to investors. "Instead house price trends have been driven by the availability of subprime and non-traditional credit."
Originations of subprime mortgages, which are offered to poorer borrowers with blemished credit records, could drop 30% to 50% in 2007 and this contraction in the availability of credit will hit California's real estate market harder than elsewhere, the analysts said.

more: http://www.marketwatch.com/news/story/california-home-prices-weaken-further/story.aspx?guid=%7BE719FEF0%2DFA25%2D44D7%2D902F%2D1D2F732EEE70%7D&siteid=yhoof

Anonymous said...

that dog gonna be rich one day better kick him now!!!

Anonymous said...

2 dollar a day living is the average world living standard, yet the housing prices among the areas around those people living on 2$ a day are going up??

Anonymous said...

ENOUGH of this whiney prick already!

soemdood said...

CROSSPOSTED:
__________________________

So I guess we all know what is in the never-left-behind murse, now:

I'd guess it's a .38 special and $258,312.79 of ill-gotten proceeds, hmmm?

That's enough for you to keep the fun blog story going and as Galina says, "pull money out of your butt" for a long time further.

BTW, I could care less if you mod this post, because it is also going to be cross posted to every Casey Haterz™ site anyway, so you posting it and also replying to it here is probably your best bet. But you never take good advice anyway, so you likely will ignore that , too.

I sure hope a Russian friend doesn't decide that they are a bit hungrier, low key, and more physical than you, and go for the murse.

ASW: craziness, indeed!