tag:blogger.com,1999:blog-18675105.post3825508936000590254..comments2024-01-15T12:16:41.302+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: HousingPANIC Mystery Quote of the Day - guess who said it...bloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger31125tag:blogger.com,1999:blog-18675105.post-8268799519450873562007-12-24T01:08:00.000+00:002007-12-24T01:08:00.000+00:00Problem these days seems to be that we ran out of ...<I>Problem these days seems to be that we ran out of bag holders....bummer. No bag holder, no deal.</I><BR/><BR/>Don't worry, Fannie, Freddie and FHLB are still buying the garbage with your tax dollars. Thank FDR for the corporate welfare.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-20563409824067606072007-12-23T06:06:00.000+00:002007-12-23T06:06:00.000+00:00Mortgage fraudster Casey K. SerinMortgage fraudster Casey K. SerinAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-50714926135688508842007-12-23T05:51:00.000+00:002007-12-23T05:51:00.000+00:00BTW a thought just stuck me as I was listening to ...BTW a thought just stuck me as I was listening to NPR and they had the George Bush sounding guy mention "owner ship society" on whatever comedy show is on evenings, dont remember these days. But, I am thinking OK homeownership went to 69% from 61 right ??? How did they calculate that ???<BR/>Did they say, ok There are this many houses and this many people so they must all be owners (or somehitng like that) Maybe this many listed as primary residences, and this many families, not people ... <BR/>Yea, how do they weed out the Casey Serins who own 12 houses as their primary residence, and still live rented in his sister in law's apartment ???<BR/>Yea, Thta is some feat though. Like my 10 motorcycles that dont run so I take the bus. OK OK Not that bad, like 3 that run out of 10, but every other month its a different 3.<BR/>Cool.<BR/>Cow_tipping.Cow_tippinghttps://www.blogger.com/profile/00096024651157768242noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-10159041161008612962007-12-23T04:40:00.000+00:002007-12-23T04:40:00.000+00:00Note to the Justice Department, the FBI and the SE...Note to the Justice Department, the FBI and the SEC:<BR/><BR/>May you rot in hell with festering boils.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-37412782295362112722007-12-23T04:37:00.000+00:002007-12-23T04:37:00.000+00:00"Seriously, the typical realtor/mortgage dirtbag w..."Seriously, the typical realtor/mortgage dirtbag was living the high life with the big house, BMW, Rolex, cocaine, etc etc., and now it's all over and he has to live an a shitty apartment and drive an old Honda and work at McDonald's now."<BR/><BR/>Or in the case of the ex-lender superstar across the street: move back in with mom.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-69780092004876670142007-12-23T03:58:00.000+00:002007-12-23T03:58:00.000+00:00www.mortgagefraudblog.comwww.mortgagefraudblog.comPrincess Mononokehttps://www.blogger.com/profile/11062180421571379213noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-59069967978113139282007-12-23T03:56:00.000+00:002007-12-23T03:56:00.000+00:00The Dildocity of that guy.The Dildocity of that guy.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-81292065348137339862007-12-23T01:04:00.000+00:002007-12-23T01:04:00.000+00:00Sold in summer 2006. Dropped our asking price by 6...Sold in summer 2006. Dropped our asking price by 60K and sold to "real" people. At the time, there were other sellers working with an investment group who turned out to be crooks (Stonewood). My agent warned me about them. She said it was "fishy" and didn't want to be involved even though it would have been an easier sale.<BR/>However, my neighbor did a deal with Stonewood. Classic case of cash back fraud. Renters moved in only to find out house was being foreclosed. They lived there rent free several months and must have trashed the place. It's now on the market for $200,000 less that what it sold for Oct. 2006.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-20315101607034298942007-12-23T00:26:00.000+00:002007-12-23T00:26:00.000+00:00Anyways, no need to jail them, their lives are alr...<I>Anyways, no need to jail them, their lives are already ruined. Save the prisons for violent criminals.</I><BR/><BR/>How about having them spend their weekends picking up the trash in the streets and parks?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-51055332666490399372007-12-23T00:23:00.000+00:002007-12-23T00:23:00.000+00:00Why are lenders so stupid to hand out a loan for m...Why are lenders so stupid to hand out a loan for more than the house is worth on a cash back deal?<BR/>Easy, because they don't care. The loan gets securitized with a bunch of other questionable deals and sold off to some other bag holder.<BR/>Everybody wins except the bag holder. Problem these days seems to be that we ran out of bag holders....bummer. No bag holder, no deal.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-30690528598400112412007-12-22T19:32:00.000+00:002007-12-22T19:32:00.000+00:00I guess this is why real estate prices went to the...I guess this is why real estate prices went to the moon.As all the crooks got money back it inflated the values for everyone so they could use the housing atm.I cannot believe all this shit you guys.What a scam.Now you are going to really see what homes are worth.<BR/><BR/>Caveat emptor hpers!!!!!!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-51541924629733615412007-12-22T19:06:00.000+00:002007-12-22T19:06:00.000+00:00That quote reminds me of what a certain former Pre...That quote reminds me of what a certain former President once said:<BR/><BR/>"It depends on what the meaning of the word 'is' is."<BR/><BR/>Anyways, no need to jail them, their lives are already ruined. Save the prisons for violent criminals. If we had the jail space and money, it'd be one thing, but I don't want my taxes going up to pay the cost to house these scumbags. <BR/><BR/>Seriously, the typical realtor/mortgage dirtbag was living the high life with the big house, BMW, Rolex, cocaine, etc etc., and now it's all over and he has to live an a shitty apartment and drive an old Honda and work at McDonald's now. It's worse than prison for them.Frank Rhttps://www.blogger.com/profile/07625929422222490759noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-28493946520844531352007-12-22T18:45:00.000+00:002007-12-22T18:45:00.000+00:00Well I guess this means I'm ok until someone digs ...Well I guess this means I'm ok until someone digs up my back yard.<BR/><BR/>'Technical murder'Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-90642957767106434052007-12-22T18:27:00.000+00:002007-12-22T18:27:00.000+00:00All cashback deals are fraud unless the lender kno...All cashback deals are fraud unless the lender knows that they are lending more than the property is worth. If the cashback is not put into an escroll account for repairs, it can be used on a vacation or car, which does not improve the value of the property. Honesty was never part of the REIC, so I don't expect them to agree. <BR/><BR/>Maybe we can help the FBI. Go house shopping and ask for big cashback deals under the table. When the realtor and seller agree, call the FBI and have them set up a sting.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-27816811191904439572007-12-22T18:25:00.000+00:002007-12-22T18:25:00.000+00:00SuzanneSuzanneAnonymoushttps://www.blogger.com/profile/05337047379163192512noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-77713876178951456802007-12-22T18:20:00.001+00:002007-12-22T18:20:00.001+00:00That is exactly how it works...and did in Portland...That is exactly how it works...and did in Portland Oregon. A LO and a Realtor owned 2 pieces of property together. They are listed for a price in MLS. A Mortgage Broker approaches them and presents them with the idea of raising the prices (which they did). He them (with a stolen identity and Appraisers #) produces fraudulent appraisalsand the three fraud the bank out of about 70K on one home and 90K on the other.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-33089548133678804212007-12-22T18:20:00.000+00:002007-12-22T18:20:00.000+00:00The cretins at the FBI and district attorneys are ...The cretins at the FBI and district attorneys are more interested in making healines. Arresting people for mortgage fraud is not frontpage news. Nobody is going to quote you or give you a press conference for arresting Casey Serin or Jose the lettuce picker. The FBI's #1 job isn't enforcement of the law, it's to make headlines. A few years ago, they spent 3 years and $10 million in a case to arrest a bunch of 80 year-old guys with Italian name for playing cards at a neighborhood cafe. They claimed that they were Mafia. That's how you get the big headlines. The jury acquitted all of the defendents.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-89642887448983272812007-12-22T18:07:00.000+00:002007-12-22T18:07:00.000+00:00Martha Stewart?Martha Stewart?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-19930052096672426142007-12-22T17:55:00.000+00:002007-12-22T17:55:00.000+00:00Any real HPer knows that's Casey!Merry Christmas K...Any real HPer knows that's Casey!<BR/><BR/>Merry Christmas Keith!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-63360458726319337532007-12-22T17:31:00.000+00:002007-12-22T17:31:00.000+00:00Easy fix: NO CASH BACK PERIOD!BUYER 20 % Period! A...Easy fix: <BR/><BR/>NO CASH BACK PERIOD!<BR/><BR/>BUYER 20 % Period! <BR/><BR/>All apps reviewed by a independent third party.<BR/><BR/>Lawyer signoff on every transaction<BR/><BR/>SARBOX laws for real estateAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-65438651172041056172007-12-22T17:27:00.000+00:002007-12-22T17:27:00.000+00:00"The stuff I did is technically mortgage fraud, bu..."The stuff I did is technically mortgage fraud, but it's not officially called that until someone prosecutes me and proves that that is indeed mortgage fraud"<BR/>--------------------------<BR/><BR/>Let me guess, that was Alan Greenspan?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-31299171478337166762007-12-22T17:22:00.000+00:002007-12-22T17:22:00.000+00:00To Alex3191: wouldn't repatriation be a better cho...To Alex3191: wouldn't repatriation be a better choice? Tashkent is a wonderful place, with flats valued at $500/ea in 1990s and world's safest democracy across the southern border.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-62075756569677248562007-12-22T17:10:00.000+00:002007-12-22T17:10:00.000+00:00caseycaseyAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-83638134169066222062007-12-22T17:09:00.000+00:002007-12-22T17:09:00.000+00:00Keith, when you compare white collar crime to viol...Keith, when you compare white collar crime to violent crime (i.e. rape, murder, robbery, etc...) you are truly comparing apples and oranges. <BR/><BR/>Violent crime will always be prosecuted. White collar crime is so hard to investigate and so hard to prosecute. Thus in the past few years people could commit financial fraud and get away with it and others what was happening and they decided to join the party.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-41788699521332945522007-12-22T16:19:00.000+00:002007-12-22T16:19:00.000+00:00Here’s how a cash-back at closing scheme works: Th...Here’s how a cash-back at closing scheme works: The buyer pays more for a property than it’s worth, and the seller agrees to kick back the surplus cash to the buyer at the closing.<BR/><BR/>"Fraud is when you lie about something on the mortgage paperwork. Paying 100K and getting 5K cash back to do repairs for a property that is appraised and listed for 100K is not fraud."<BR/><BR/>Sorry but if the property is appraised at 100K when it should be 95K, isn't the lie starting with the appraisal?Anonymousnoreply@blogger.com