July 22nd, 2007 2:24 pm
My Mortgage Docs To Be Reviewed by Truth-In-Lending Expert
I’ve been in contact with a group that helps borrowers fight predatory lenders. They review your mortgage documents and look for any Truth-in-Lending-Act (TILA) violations and any other “red flags”. Then there is an option to sue the lender and sometimes even get your mortgage forgiven. This company also has a network of qualified real estate attorneys to help take these cases into the courts on a low cost or contingency basis.
I didn’t have much desire to go this route before because I figure, what the use? I was about to lose everything in foreclosure and I just wanted a way to sell those houses and be done with it. But I was always interested in the idea behind it. I was going to talk about this company on my blog before in order to help homeowners who may have been taken advantage of, but never got a chance to do it, since it wasn’t something I needed at the time.
However, NOW things have changed a bit. There is a very good reason for me to have my mortgage documents looked at by an expert. We’ll see what he says… Hopefully I’ll get an answer back by the end of the week.
332 Comments
July 22nd, 2007 at 2:28 pm
So you are not backed into a corner and you are coming out swinnging.
Hope the lenders are paying attention.
July 22nd, 2007 at 2:29 pm
Love the pic….$685K at 11%…what a sweet deal!
July 22nd, 2007 at 2:29 pm
My dear snowflake, Im trying hard to be a supporter……
Exactly what do Reg Z errors do to mitigate fraud on your part?
OH…..and MURST!
July 22nd, 2007 at 2:35 pm
what a joke.. you knew exactly what you were doing.
July 22nd, 2007 at 2:35 pm
Hey Kid;
“There is a very good reason for me to have my mortgage documents looked at by an expert. We’ll see what he says… Hopefully I’ll get an answer back by the end of the week.”
Gee, hobbit, after he looks at what you signed, do you think the tranquilizers will wear off in only a week?
July 22nd, 2007 at 2:35 pm
Make sure you also disclose to this expert the “tips and tricks” you pulled: the inflated income, the primary/secondary residency letters, the under-the-table cash-back-at-closing promissory notes.
Because it seems to me that the very last thing you want is for these loans to be closely examined in court.
July 22nd, 2007 at 2:39 pm
Yes Casey, you are a victim. Those evil mortgage companies made you lie about your income and lie about the owner-occupancy status of your houses.
How dare they expect you to actually honor your contractual obligations! Don’t they know who you are?
It’s all good! Just everybody walk away and pretend this deal never happened! Why won’t you guys leave me alone?
Un-freaking-real…
July 22nd, 2007 at 2:40 pm
But since you admittedly and knowingly lied on your mortgage application forms, how is this going to help?
Did these “predatory lenders” force you to lie, and do you have evidence of this?
July 22nd, 2007 at 2:40 pm
Yeah, that’s the course to take. I didn’t TRY to rip anyone off, I was USED by the evil mortgage companies. Sure Casey….
Keep chasing that ‘Someone else’s fault’ dream’ there Casey…
July 22nd, 2007 at 2:41 pm
Humm, didn’t some of the ‘haters’ suggest this to you almost 1 year ago? This looks like a year late and half a million dollars short or so.
Maybe we ‘haters’ are realists that deal with problems up front instead of giving out the its all good line. This is important because sometimes, as you are finally realizing now, it is not all good!
That means many of your supporters are running around under the influence of some or another mind altering drug.. repeating its all good like some mindless droid.
July 22nd, 2007 at 2:47 pm
You LIED multiple times on everyone of your mortgage applications and you STOLE money from these institutions you deluded piece of s*** .
Predatory lending? You ripped these companies off you worthless turd.
Did these mortgage companies seek you out via door to door salesman or any other forms of high pressure contact and sales techniques, or did you contact them.
Please let us know the name of the company that is reviewing your documents for you. I want to add their name to the growing list of people and companies that are more than willing to come to the aid of a criminal such as yourself.
July 22nd, 2007 at 2:51 pm
How did You find your mortgage docs? I thought they were in the magical IKEA cabinets at home. You know, where you used to live with your w***.
What has changed that you will have your mortgage docs checked? Someone coming aftere you? Is that what happened last week?
July 22nd, 2007 at 2:53 pm
Are you serious? How can you even think you are a victim here? You openly commited fraud and now think you are a victim of predatory lending?
July 22nd, 2007 at 2:55 pm
Forget those people Casey, you must concentrate on more Jamba Juice and sweet deals.
I can feel it in the air that you are making a turn-around. More Sweet flips is what you were meant to do.
Just ignore all the bad wishers, you shine Casey you shine like I have never seen before.
Good things are coming Casey, I can Feel it Bubbling In the air.
July 22nd, 2007 at 2:59 pm
A few posts ago someone suggested you buy a parrot. It sounded like a great idea. Did you do it?
July 22nd, 2007 at 3:01 pm
First rule of business, Casey: Get the right man for the right job.
You should’ve gotten a Lying-in-Lending expert.
July 22nd, 2007 at 3:07 pm
Casey,
“I was going to talk about this company on my blog before in order to help homeowners who may have been taken advantage of, but never got a chance to do it, since it wasn’t something I needed at the time.”
And there it is in black and white. If you don’t need it then ignore it, never mind what might be the circumstances of others. So much for this being a help site. And this mention in your blog might have taken 60 seconds? NPD anyone?
Oh well.
This is how the blog ends,
This is how the blog ends,
Not with a bang but a dribble….
July 22nd, 2007 at 3:07 pm
OH STFU…
Those lenders did not seek you out Casey. YOU lied on your loan apps over and over again to get more and more cash back at closing. You are in you next manic phase I see….
You deserve to be prosecuted and I hope you are held to pay back every cent.
You are a crook. I heard you admit on tape that you used money for the New Mexico house for living expenses…AND YOU LAUGHED ABOUT IT.
Sorry SCUMelf, you are not getting out of it. NOPE!
July 22nd, 2007 at 3:09 pm
I KNEW this was coming … how are you going to explain to the EXPERT you overstated income and lied on your mortgage applications … let me guess … These predator lenders did that to you .. HAHAHAHAHA …. what a joke ….
I knew it was going to happen .. Blame someone else … DUDE … as much as you have posted here about WHAT YOU DID …. hahaha this is going to be the best yet.
July 22nd, 2007 at 3:18 pm
Excellent idea. Would’ve been a good idea to do this a year ago before you racked up over 100 grand in credit card debt.
July 22nd, 2007 at 3:22 pm
Welcome to America, you screw a company over and steal their money, then you sue them when you mess up and the money dries up
July 22nd, 2007 at 3:22 pm
Casey - At this point, isn’t it a little to late for that?
www.1guymoney.blogspot.com
July 22nd, 2007 at 3:23 pm
OK REALLY, THIS IS MY LAST POST AND LAST VISIT TO IAFF! Casey, you are a real piece of work! You commit the worse possible type of mortgage fraud, closing on most of your homes without disclosing that you already owned real estate that wasnt on your credit report, claiming them all as primary residences, all the while taking under the table cash back, AND NOW YOU WANT TO SUE THE LENDERS FOR TIL VIOLATIONS!!! My visit to CaseyLand has truly been a ride, but it is now time to get off of this rollercoaster. Good luck Casey! You will need it after these lenders take turns raking you over the coals!!!
July 22nd, 2007 at 3:31 pm
The lenders are hardly blameless in this mess.
Looking over your blog, and googling your name over the internet, I am disgusted and frankly creeped out with the whack-a** obession this haterz community seems to have taken of you. Dude, Casey, you have a cult following just bc you made s***** financial decisions in your early 20s.
Pictures of your wife and SIL posted on random websites? Hater blogs? Caseypedia? Don’t people have anything better to do beyond stalk you and your fam, trash you guys in a public forum, and interfere in your marriage?
Yeah, flippers, the real estate bubble, etc piss me off too. But are people’s lives seriously that miserable that they have only one place (Casey) to funnel their frustrations? Does a virtual tar and feather of Casey make the economy, your lives, etc, any better somehow?
July 22nd, 2007 at 3:32 pm
Those dirty, friggin’ lenders! Teach them a lesson and sue their asses! You should set an example, because they didn’t mind losing money on their loans just so they could mess up your credit report, not to mention what they did to your reputation. And since they did it to you, they can do it to any of us! They have that kind of money! Those bastards are doing it for sport!
Casey, they will no doubt victimize many, many more people, maybe even some of us who follow your blog. Please step up on behalf of us all and sue them into oblivion, before they carry this out on a large scale and wipe us all out.
You’ve got my support, and no doubt the support of countless others. Please hurry!
July 22nd, 2007 at 3:38 pm
Make sure you run those docs by a Truth in Borrowing expert, too.
July 22nd, 2007 at 3:44 pm
you cant sue your lenders for truth-in-lending issues when the misuse of truth was on your side. Mortgage fraud is your problem, not theirs in this case.
July 22nd, 2007 at 3:49 pm
What exactly are you trying to accomplish? Maybe if you stated your true income and still got a loan, that would have been different. But since you lied, you could end up in jail. Don’t forget that if you are actually accused of fraud, the banks are the injured parties, and it is their failure to take action that may have spared you from jail.
Be careful. A guy called Frank McPherson got three years (reduced to 45 days, it is true) for merely having spent the money that the bank added to his bank account, and that, AFTER he asked a clerk who said that it must be his money. And he was actually expecting some money. He had 16.90 and the bank made that $169,000 by mistake. You got more money and actually lied, and that, for several loans. Don’t sue or upset the banks.
July 22nd, 2007 at 3:54 pm
I notice that of all the checkboxes that you show in the photo, you have hidden the “Do you intend to live in this property as a primary residence?” We know that you lied here, and this line item is BOLD. Why not fess up and show us that you ticked YES when you clearly had no intention of doing so?
July 22nd, 2007 at 4:00 pm
You gotta be kidding, right? Just baiting the haterz, I hope?
You suing those lenders would be just as frivolous of a waste of the court’s time as Mark suing you.
Not only that, if you draw attention to yourself by suing them, they may decide to counter-sue you for fraud. Much easier for them to win a judgment than get a criminal conviction.
And if they get a judgment against you for fraud, you may not be able to get it discharged in BK.
If you want to sue someone, I would consider whether you have grounds for suing the gurus for misrepresentation or deceptive trade practices.
I see a potential class action there.
Have you decided whether to pursue a countersuit against Mark yet? This is something else many of us would like to see.
July 22nd, 2007 at 4:10 pm
Did you keep a straight face when you typed this comment?
July 22nd, 2007 at 4:12 pm
Hey Casey,
What if your lenders take the documents to some group that helps them fight fraudulent borrowers? They could review your mortgage documents and look for any Truth-in-Borrowing violations and any other red flags.
Oh wait… there is such a group. They’re called the FBI. And I suspect your lenders may well have contacted them.
ASW: deals… maybe you can make one with the feds. Let’s hope it works out better than every other deal you’ve ever made. Or will they just say “Casey: NO DEAL”?
July 22nd, 2007 at 4:17 pm
Make sure they know about the cash you took back at close.
July 22nd, 2007 at 4:17 pm
Predatory lending?!?
Kewl, maybe you can get back all the money they took from you.
July 22nd, 2007 at 4:20 pm
This has got to be a joke, right? Do you honestly think that any judge in their right mind is even going to entertain this notion? Just the fact that your crippled mind could come up with this idea turns my stomach.
Hey hombre… let me tell you a little secret. By lying on the loan application yourself you’ve already invalidated any sort of TIL gimmick. This isn’t a “get out of jail free” card. And even if it was, it wouldn’t nullify any sort of fraud you committed.
What you’re doing is wasting people’s time. Time that could be spent helping out a homeowner in true need is instead going to be spent on some Serin-esque wild goose chase. Just wait until the “lawyer” you’ve retained catches wind of the whole story… That should be a fun conversation.
Just walk away Casey. The more you make a spectacle of yourself along the way, the more people are going to go out of their way to make the fall that much more painful.
July 22nd, 2007 at 4:26 pm
Oh and make sure that you highlight all the areas on the mortgage apps where you lied.
July 22nd, 2007 at 4:31 pm
I might be missing something here …. Looking at the loan application here, Declarations VII question f asks “Are you are currently deliquent on any Federal Debt OR any other loan, mortgage, financial obligation, bond or loan guaranter?”
Surely at the time of this application you were.
So I presume what you are hoping is that the Truth-in-lending people will make a point to the lenders that you were obviously “stretching” the truth on this point, that they SHOULD have been smart enough to find this out, andf that therefore, they should have declined the loan application; so of course, the fact that you fell into foreclosure on this proerty is THEIR fault and not yours!
Sigh
July 22nd, 2007 at 4:38 pm
Trolling for comments on a Sunday? This should get the haterati up in arms.
Really, the idea of you suing them is preposterous. I hope that they counter-sue.
July 22nd, 2007 at 4:39 pm
They will review the documents and determine that they are legal, and that you defrauded the borrowers by lying on your applications.
Who will fight the predatory borrowers like Casey Serin?
July 22nd, 2007 at 4:40 pm
You should get them to review the CashCall agreement.
July 22nd, 2007 at 4:43 pm
Hey Casey -
As I have commented earlier - if you ever want to succeed at ANYTHING, you really need to stop getting your contacts/advice/world view from late night TV ads and the internet.
This is obviously nothing but a front for shady lawyers hoping to threaten mortgage lenders into paying them some dough. You know - ambulance chasers, basically…And, they probably resell the info they glean from the paperwork they see, too. You know - adding people to the sucker lists.
Think about it - anyone really interested in truth-in-lending would look at people’s documents BEFORE they signed them. Not when they wanted to sue someone.
You really do run with a pretty scummy element…couldn’t be happening to a nicer guy, though. SUCH a fool.
I hope they are giving you a referral fee if you eventually provide a link to their site.
July 22nd, 2007 at 4:50 pm
oh where does it stop Casey?
July 22nd, 2007 at 4:51 pm
Casey,
Did these predatory lenders seek you out or did you seek them?…Did they defraud you or did you defruad them?? So how are you feeling about all “your” decisions having resulted in NO WIFE, NO FRIENDS, BURNT FAMILY MEMBERS, PENDING FELONEY CHARGES, NO CREDIT OR CREDABILITY AND NO FUTURE INCOME POTENTIAL…
Maybe you need to take a road trip to clear your head?
Is that SWEET enough for ya?
July 22nd, 2007 at 4:56 pm
HuuaaHHhhh,,… Case I have an idea for you. Every time you begin a new little venture such as this one. Why don’t you try and predict the outcome by writting it down on a peice of paper or the blog and then compare what you predicted would happen with the real outcome. I mean I have been reading your blog from the start (it’s great) and every time you take off on your own little (I’m a eight year old child running away from my mom at the local shopping mall to look for shinny things on the ground that some how were dropped by rich adults so I can hide them in my a*** like pirate treasure!) I end up predicting exactly what happened.
Can’t You?
Buy 9 house’s on credit = Bankruptcy
Start Blog = Critics
Associate with A-Hole men = Conflict
Corporate Credit with mom = Disfunctional Family
Self-Centered Lifestyle/Vacation = Divorce
Decete and Lies = Homelessness
Tax Evasion = Jail
July 22nd, 2007 at 4:56 pm
Good luck Casey.
It sounds like they ripped you off.
Hopefully you’ll get something back.
One Man. One Year. $100,000 online. To pay cash.
http://www.oneyeargoal.com
July 22nd, 2007 at 4:58 pm
Wasnt it you who lied about his income? Wasnt it you who lied about owner occupancy.
You have no case.
July 22nd, 2007 at 4:59 pm
Well, I bet that many people posting here will be angry at you and think that you are dodging responsibility by doing this. Actually, although I have been very critical of many of your actions in the past, this is not a bad idea. If you have any (legal and moral) tools at your command to help you, you should use them. As far as I can tell, you are just inquiring with this expert, not blaming lenders for your predicament. And if they did something underhanded, there is no reason you shouldn’t take advantage of that (even if you did something underhanded too).
Good luck, casey. You will be needing it. The upcoming period will be very difficult for you and you will need every tool to help you that you can find…and even then it might not be enough. The wheels of justice are grinding. They may grind slow but they sure do grind heavy, don’t they? Keep your chin up and remember, life is but a dream. Take ‘er easy.
July 22nd, 2007 at 5:05 pm
Did we just enter bizzaro world?
July 22nd, 2007 at 5:05 pm
As a certain German leader in the late 1930s argued: “hey, Poland maliciously and flagrantly decided to be right next door. It deliberately took advantage of our trusting nature”.
Casey, you’re a fool.
July 22nd, 2007 at 5:05 pm
Whatever dude. You knew what you were signing, and if you are going to argue that you didn’t….well, obviously you didn’t care. The only reason why the mortgage companies would let it go away is because they know you are throwing your name all over the place, which exposes them to whatever fraudulent behavior they did.
I also doubt that any of your mortgages ended up having the rate reset before you stopped making payments on them.
Also be sure to point out that you claimed all of those properties as your primary residence.
And don’t forget to note the dates that most of those mortgages were taken out, i.e. they were taken out within days of each other.
It’s all good, dude.
July 22nd, 2007 at 5:07 pm
Yeah, I forgot that you were the victim when you illegally took extra cash out at closing. Spin spin spin…poor Casey is yet again a victim.
July 22nd, 2007 at 5:08 pm
Casey:
You will get big money if you sue all the “predatory” lenders. Just tell them you wanted to buy a single home in Sac for you and your wife and they “tricked” you in to buying a bunch of other houses.
P.S. Did you notice that you forgot an “o” in loose (one of the Casey tm words)?
July 22nd, 2007 at 5:08 pm
Casey
You realize that you’d have to sue the mortgage company to get the loan forgiven, right?
That means that you’d have to go through discovery. You’d also open yourself to a fun little countersuit for fraud.
And you won’t be able to claim ‘no deal’ this time.
July 22nd, 2007 at 5:09 pm
If you get money back , I’ll eat a bug.
July 22nd, 2007 at 5:11 pm
So it’s not your fault now? Hmmm… let’s see… you lied on the load, took cash back without informing the lenders. Only predator here is the idiot who wrote a blog entry regarding this. If I were the “expert”, I’d boot you out of my office now.
July 22nd, 2007 at 5:12 pm
I still think the most appropriate course of action is to start a boy band called “KC and the Jailbyrdz”.
July 22nd, 2007 at 5:12 pm
Take ‘em to the cleaners, Snowflake. How dare those predators allow you to lie, hyper-inflate your income, and get sweet cash back at closing under the table.
I mean, seriously, you wouldn’t be in this mess if those predators weren’t so lazy and stupid, simply trusting all the things you told them, handing you gobs and gobs of money, when there was obviously no way you’d ever be able to pay it back.
July 22nd, 2007 at 5:15 pm
Hahahahaha…predatory lending? Truth in lending? You are a hoot!!
How about truth in BORROWING? Where do you stand in that? Oh yeah..we already know.
July 22nd, 2007 at 5:30 pm
Now that you’ve got your applications out, why not post the salaries you claimed to be making, as you promised in a long-ago talkcast?
July 22nd, 2007 at 5:33 pm
About time that you recognized that you’re the real victim here, they’ve simply taken advantage of you and pushed you to lie again and again to borrow money from them (but it’s OK because everyone was doing it). Hope you get a sweet payoff deal from them!
July 22nd, 2007 at 5:38 pm
Casey, I fully support your latest attempt to defraud lenders as long as you disclose to the “truth-in-lending experts” how you conspired with loan officers and appraisers to overvalue properties and obtain undisclosed and illegal cash-back at closing.
July 22nd, 2007 at 5:46 pm
This is so upsetting to read. I work for a mortgage lender and I am disgusted by people who claim, after they are unable to pay for their mortgage, that the big, bad lender took advantage of them. This is quite an unethical way of wiggling out of paying these lenders back. Yes, there are shady brokers and lenders out there, that is true. But it seems with the wave of foreclosures happening, borrowers are using the “I was taken advantage of” excuse too often. Didn’t you read and understand what you were signing? Home ownership is the biggest investment most people will make in their lifetime, and they don’t even read the documents they sign their names to, let alone understand them.
July 22nd, 2007 at 5:47 pm
Google “doctrine of unclean hands”.
Then, read.
July 22nd, 2007 at 5:48 pm
Wow, you found another LossMitPro. The haterz club should expect the new memberz soon.
July 22nd, 2007 at 5:48 pm
Why don’t you put up a link to there website? You always said you wanted to make this a help site. Here is your chance to do that at least until the 3rd of August. I am sure there are many out there that would appreciate this information. You are not alone in this mess and now for a brief flicker of time you can do a little something to help others.
July 22nd, 2007 at 6:11 pm
How come there aren’t any such things as Truth-in-Borrowing experts? Maybe the lenders should be able to stick you with MORE debt.
July 22nd, 2007 at 6:12 pm
Hi, first time poster, long time train-wreck observer…
Don’t forget about truth-in-borrowing… You read (?) and signed those documents on your own volition, and moved on to the next transaction before the ink could dry. You’ve mentioned on this website you told lenders in atleast some cases you would move in to the house, without that intention ever existing. And now, you look for assistance in getting pulled out of a hole you dug YOURSELF, without expending any effort to do so yourself (ie, JOB).
You need to own up to your mistakes, and work to pay your debts off instead of passing the buck to lenders, and ultimately, us (taxpayers).
Speaking of taxes…
Have a nice day!
July 22nd, 2007 at 6:12 pm
I am unsure why I am getting roped in but, why does this matter now? Since all the homes have been foreclosed on what would it mean IF they found in your favor?
April
July 22nd, 2007 at 6:21 pm
Casey’s been ripped off on his RE deals? Why that is truly outrageous. It just goes to show you can’t trust anyone these days.
Of course, dodgy mortgages might have been avoided if an attorney were consulted BEFORE documents signed, rather than (pretty long) after.
July 22nd, 2007 at 6:29 pm
Excellent. Finally, there may be justice. You would not have gotten into trouble of such magnitude without their complicity.
July 22nd, 2007 at 6:33 pm
Your’e not pimping your “I Recommend” links, are you Casey? Your post looks like an ad for mortgagewatchdog.com.au…
ASW: thingy
July 22nd, 2007 at 6:35 pm
If you’d actually made a couple of payments, you might have more of an argument…
And wow, do I see 10.9514% APR on there? It’s there plain as day, not like they were trying to trick you, you know. What in God’s name were you thinking when you signed that?!?!
July 22nd, 2007 at 6:36 pm
Unbelievable! You conned several banks into lending you money and now you are accusing them of predatory lending? You have already publicly admitted that you intentionally lied on the mortgage applications (”because everyone else does it”)!
July 22nd, 2007 at 6:41 pm
You have to be joking.
July 22nd, 2007 at 6:47 pm
This is so ironic it’s ridiculous. For you of all people to complain about truth in lending, it’s just the height of nerve. You want truth in lending?? How about an undercapitalized business venture misrepresents himself as an individual buyer in order to steal hundreds of thousands of dollars? There’s your truth in lending lowlife.
What’s he doing about cash call?
July 22nd, 2007 at 6:50 pm
Casey - If are still closing down the blog, will you at least send out a newsletter everynow and then to let us know what is going on?
www.1guymoney.blogspot.com
July 22nd, 2007 at 6:51 pm
Casey - I hope you can get every penny of your down payment back!
July 22nd, 2007 at 6:52 pm
Shame on those lenders for forcing you to sign multiple mortgages in a short timeframe, and for forcing you to accept cash back!
July 22nd, 2007 at 6:53 pm
I hope you didn’t use Lending Tree as one of your lenders, since you’re promoting their business with a link in your post.
July 22nd, 2007 at 6:59 pm
How much did you for this service?
How much will you pay for this service?
July 22nd, 2007 at 7:01 pm
Holy crap dude, this is about the worst thing you could be doing. You defrauded your lenders in a million different ways. If they wanted to they could seriously mess you up legally. And now you are going to try to find a way out through some lawsuit and make them mad at you? I mean wow. What a bad idea. I cant believe you are going to try to provoke them. The only one who broke the law here is you buddy.
July 22nd, 2007 at 7:01 pm
Nice to know it’s all the lenders fault.
July 22nd, 2007 at 7:04 pm
There is no option to sue the lender, “unclean hands” will see to that. I guess you could be trying to raise that as a defense of your own, in case the lenders come after you…
July 22nd, 2007 at 7:06 pm
Please.
If anything this was a case of predatory borrowing. YOU defrauded the banks. YOU lied to your wife and family. YOU allowed greed and the desire to have it easy get in the way of doing what is ethically correct. YOU have dug yourself a hole and will not stop digging. YOU have the option to turn it around by doing what is right in the future and learning from YOUR mistakes. What happened to personal responsibility? The statements that you make here are a great illustration of what is wrong with the world. I hope you reconsider. Have you ever heard the saying that people who live in glass houses shouldn’t throw stones??
July 22nd, 2007 at 7:08 pm
These kinds of posts make me think that you want be stopping blogging for very long. I don’t get the traffic that you get, but I found my blog to very helpful for just throwing ideas out there.
July 22nd, 2007 at 7:16 pm
What are YOU talking about…Predatory Lending???
How bout a little Mortgage Fraud on your part?
You cant con your way out of this!!!!
Prepare for prison!!!
Julian-Trailer Park Boy and Hater
ps. When are you going to pay back EVERY DIRTY PENNY? Start by eating a live bug for 5 bucks!!!
July 22nd, 2007 at 7:16 pm
Predatory Lending?? For you??
No are confusing real predatory lending with lending to someone dumb enough to borrow more than they can possibly repay.
I got someone to sue if that is your new sweet deal.
How about you put together a class action lawsuit to sue all the pedatory home buyers who jacked up property taxes for everyone.
Also, all the morons who bought homes they could not afford and are now going into foreclosure and causing the banks to lose money and raise interest rates so normal families can’t buy a home. Sueing them sounds like a good idea.
With all the fraud you commited on the mortgage apps, the only thing you should deal with in regards to the banks is,
“Dear Bank,
Forgive my debt or I will out you for being so stupid as to lend Casey money without checking to see if Casey had any intention or resources to pay the money back”
July 22nd, 2007 at 7:20 pm
Casey:
This is quite convenient. Afterall, you had nothing to do with buying all these homes. You probably even informed all of the lenders you had contracts out on other houses, with OTHER lenders. Heck, these guys pulled the wool over your eyes how many times? 8?
Yeah, blame it on the lenders. Heck, maybe I should have these guys look at my loan docs too. Oh wait, I have no reason to, since I repay my loan obligation with proceeds earned at my lousy W-2 job.
July 22nd, 2007 at 7:24 pm
Casey you are some kinda genius
July 22nd, 2007 at 7:25 pm
It was your choice to sign the docs and it was your choice to buy the properties. And it was also your choice to lie on a legal document. Don`t sue them for your stupidity. I think you seriously need to grow up and take a good look in the mirror and realize what a screw up you really are. Quit wasting your time blogging away with your pointless mundane piss poor excuses that try to justify why you have no business accumen what so ever. Take responsibility and be as good a business “man” as you can be. Not some girlie man with no balls
July 22nd, 2007 at 7:30 pm
Weren’t you the predatory borrower? You used overstated appraisals and got sweet cashback. The average lender loss per house is probably in the $150-175k range. Good luck trying to sue them after already screwing them for $150-175k.
Also keep in mind that if you do threaten to sue them, they could decide to prosecute you for mortgage fraud.
You DON’T want to already go down this path. The FBI’s already on your ***, and this will seal your fate.
July 22nd, 2007 at 7:47 pm
Yet, another item you will not follow through on.
“I’ve been in contact with a group that helps borrowers fight predatory lenders”
Don’t waste their time………You Dope….
July 22nd, 2007 at 7:52 pm
That’s right- who can realistically expect for the average pre-rich investor signing a half-million dollar loan to actually read the fine print. You are merely a victim who has been misled by the evil lenders, forcing their loans on you.
July 22nd, 2007 at 7:52 pm
Oh, C’mon. Yeah, yeah, yeah, you’re the victim. Dude, you lied to get the loans. You’re taking advantage of the people who were really preyed upon by this type of lender. That ain’t you, buddy. You worked an angle, you didn’t have an angle worked on you.
You truly have NO shame.
July 22nd, 2007 at 8:00 pm
Go after them Casey. Expose them all, they are crooks, you are our hero.
Give names and details. They will run!
July 22nd, 2007 at 8:04 pm
I guess all these mean, hungry, predatory lenders held a gun to your head and forcefully made you sign loan documents against your will.
Almost forgot, I guess they made you lie too.
Right…
July 22nd, 2007 at 8:14 pm
Do they help with predatory borrowing?
July 22nd, 2007 at 8:15 pm
Only one problem, the judge always asks if you signed your documents. A contract is a contract and typically the loan officer and the escrow officer go over each document with you before you sign. Finding some obscure error will not remove you of your responsibility or the fact that they can testify you had “capacity”. Also, you probably received three or more TIL’s from each lender prior to loan approval, which would have provided you ample time to read everything. Not to mention the fact that you get a full copy of all your documents at your escrow signing and have time to cancel. Remember, the lender will look for fraud in your file the minute you begin to bark up this tree. A loan officer has to have committed a severe violation of ethics before the lender will even consider settling. Otherwise, the lenders have very big legal departments with very impressive ethical lawyers (oxymoron?)who will happily go to court, especially if they suspect fraud on the borrower’s part. These tactics by borrowers (who did not represent their true financial picture) to try and get out of a loan costs everyone, and eliminates loan products that help the first time homebuyer get into a home. I worked compliance and have to say I am not with you at all on this latest “sweet-get-me-out-of-my-greedmishap” deal.
C
July 22nd, 2007 at 8:18 pm
Be sure to let us know the outcome. I’d be interested in knowing if they find anything in those docs which isn’t up to snuff.
I listened to some of your earlier pod casts and I find it pariticularly interesting that you mention some of the mortgage brokers just put down whatever amount of income was needed to qualify for the loans.
I would think that’s the sort of behavior a real estate attorney, FBI, etc. might be interested in. If you just lied on an app and the broker didn’t know any difference, then all of the burden falls on you. If however they assisted you in misstating income, there is a substantial problem there.
July 22nd, 2007 at 8:20 pm
I can’t believe this. So now we are supposed to hate lenders because, they, uhm, lend money to idiots / liars like you?
July 22nd, 2007 at 8:20 pm
Just because the loan might have been illegal doesn’t mean that you didn’t still lie on your application. If you think this is an end run around the federal government investigation you will be sorely surprised.
July 22nd, 2007 at 8:31 pm
If you try to fight the mortgages and any of your lenders have google? They will find this website and the related train-wreck sites. After that they will be more than happy to say “We’ll see you in court. Discovery please?” Once it turns up that you we’re applying for multiple loans simultaneously without telling the whole story to all the lenders, your claims will get kicked out of court so quickly its not funny.
July 22nd, 2007 at 8:32 pm
This is just a frivolous action like the one before. This kind of thing usually only works when you have something to give back to the bank, aka the property, and typically only on a single loan and a major violation. I would not get your hopes up, and beware of drawing attention to yourself as it may only draw the feds closer and aggravate the banks to start pushing back. You have been lucky so far but bars may be in your future if you try to get too aggressive for the people who really lost their shorts betting on your success. You may soon find yourself being made as the example.
Please please please read everything before you sign anything or up for anything.
July 22nd, 2007 at 8:38 pm
You are…unbelievable. And I don’t mean that in a good way. Delusional.
July 22nd, 2007 at 8:40 pm
So, you’re willing to risk exposing all the lies you told and fraud you committed so that you can get back at those horrible, horrible lenders who gave you the money?
It would be one thing if you were one of millions of people working a full time job (and maybe even a part time on top of that) and the lenders reeled you in with the promise of low payments and nothing down for a nice roof over your family’s head.
You, though, sought out the loans, LIED to the lenders repeatedly (occupancy, purpose of purchase, income) to buy grossly over valued properties. You then ignored those properties, allowing them to go to sh*t and bringing down the property values of the neighbors, all before LOSING the properties completely because you failed to take action and instead chose to sleep until noon, not open your mail and chase one pipe dream scam after another.
Do you REALLY want to take that to a judge? And do you REALLY think that any lender you attack legally will not turn on you and rip you to shreds in court? Countersuit, anyone?
You’re a brilliant man-boy, Casey. Pure genius. It’s a wonder more people don’t follow in your footsteps. They’d all be rich beyond their wildest dreams in no time…
July 22nd, 2007 at 8:51 pm
Casey: Now you are using your noodle. These banks set up these loans to entice borrorers who cant possibly afford the loans to begin with. Lets face it, these no doc loans are made to rope in the masses who cant aford the payments to begin with. Casey you are young, just a kid, and these banks and get rich quick no money down hawkers all took advantage of you. I am not saying you were right in overstating your income (if indeed you really did) however there is a certain amount of culpability here by the banks and mortgage brokers. Casey YOU are the victim here
July 22nd, 2007 at 9:14 pm
1) You will get no relief of any debt given your history. You go to court with false loan applications and you’ll be toast.
2) Do a little research and you’ll see that these companies that fix credit and erase debt for “little money” are normally nothing more than a scam. Kiss another $5000 good-bye.
July 22nd, 2007 at 9:29 pm
Casey,
You have hit an all time low. Join the countless “idiots” and sue the brokers or lenders. You knew exactly what you were doing and have admitted it to the world. You have no legal foundation. Give it up.
July 22nd, 2007 at 9:30 pm
Josh #29 …
Well caught. Casey deliberately obscured that question and the ones below it (required when the answer to the first question is ‘Yes’).
July 22nd, 2007 at 9:31 pm
Talking about coming back to the scene of the crime!
July 22nd, 2007 at 9:38 pm
Casey -
I’m sure this website will REALLY help your case - making a mockery of yourself before the entire world and all.
July 22nd, 2007 at 9:43 pm
The loans won’t be forgiven, and taking any sort of action against one of your lenders may cause them to take action against you in return…tread lightly.
July 22nd, 2007 at 9:53 pm
Yeah, I’m with several other posters here. I’m done. I was ambivalent about you. Found your cluelessness kind of amusing. But between your treatment of your family and now this latest scam…
The next time I see your name, I hope it’s in the Chronicle talking about the length of your jailterm.
July 22nd, 2007 at 9:54 pm
I don’t know what triggered this urge to sue but I don’t think you’re acting in your own self interest.
Right now your lenders have every incentive to remain quiet. They don’t need the bad publicity, and the losses they incurred on the deals they made with you can easily be written off.
However, if you start mud slinging, given your high profile in the media you could do real damage. I don’t think they’re going to just take it. And given that you’ve made countless self-incriminatory statements in the past year or so, you can bet they’ll use them against you. Within days you could be looking at some pretty nasty counter suits with the distinct possibility that your past illegal deeds be used against you in court. Is that what you want?
As far as you’re concerned, the possible negative consequences of a legal action against your lenders far outweigh any potential good.
July 22nd, 2007 at 10:10 pm
@106
Yeah, ‘cuz personaliy accountability is soooo 1950’s, right?
You’re obviously as much of a genius as Casey.
July 22nd, 2007 at 10:11 pm
It’s crazy… after talking to this anti-predatory lending company I am amazed what I didn’t know. After I get my papers reviewed I should know for sure. I knew there was a lot of craziness going on in the lending industry. I saw it first hand.
But I never felt like I should be the “whistle blower”, since I didn’t really know what I was doing and what is right and what wasn’t. There was A LOT of reliance on certain “professionals”. I didn’t do any of this in a vacuum.
If only ONE person would have told me that anything I’m doing is ILLEGAL or I can go to JAIL for any of my deals or loans, I would have not gone further. The best I got was “gray area” while most of my professionals / investors / associates / gurus didn’t think there was anything wrong. Perhaps this might be the time to paint the picture with all the colors.
I guess, as they say - you don’t know what you don’t know. I will not say anymore until I have everything properly researched and backed by experts.
July 22nd, 2007 at 10:22 pm
@ 111, Casey:
“If only ONE person would have told me that anything I’m doing is ILLEGAL or I can go to JAIL for any of my deals or loans, I would have not gone further.”
You needed to be *told* that lying on loan documents was fraud? Do you need to be told to breathe in again after you breathe out?
“I didn’t do any of this in a vacuum.”
You still did it. You still lied on your loan applications, and until you accept that YOU DID WRONG in lying, you’re still a spineless, pathetic, snivelling child.
July 22nd, 2007 at 10:44 pm
Calm down everyone - it’s just casey getting his troll-on.
Come on Timeline guy (aka content guy) roll us a fat one off of this.
July 22nd, 2007 at 10:46 pm
Yet hundreds of people on your blog told you that the stuff you did was illegal.
July 22nd, 2007 at 10:47 pm
You were (and still are) ignorant about a LOT of things, Casey, but the one thing you were not ignorant about was how to work the system to get the most money in the least amount of time.
It’s one thing if you bought one house without understanding what you were getting into. But to do it EIGHT TIMES, brag about your business acumen for months, and then turn around and claim that you were tricked by the lenders is one hell of a stretch.
July 22nd, 2007 at 10:52 pm
“If only ONE person would have told me that anything I’m doing is ILLEGAL or I can go to JAIL for any of my deals or loans, I would have not gone further.”
Oh my, so you didn’t think that openly lying on loan applications is illegal? This is too much, you have to be trolling now.
July 22nd, 2007 at 10:54 pm
$30k of real estate edumacation and “I didn’t really know what I was doing and what is right and what wasn’t.”
Again, a day late and a dollar short, Casey. I don’t think that an “ignorant and stupid” defense will get you off the hook. Not with all the justifications you posted on this blog over the last 6 months.
To think that Duane was ready to pay you $6K per month for a bit of “technical support”.
Oh, by the way, did you follow up with CashCall yet?
July 22nd, 2007 at 10:58 pm
KC:
“If only ONE person would have told me that anything I’m doing is ILLEGAL or I can go to JAIL for any of my deals or loans, I would have not gone further.”
I think I remember you saying that you were grateful for foreclosure and would do it all over again if you had to. But that was prior to the issues involving those who cannot be named.
July 22nd, 2007 at 11:15 pm
I think maybe you’re trying to juice the value of the domain by these recent posts. Now we’re talking about mortgage fraud, yesterday we were talking about the seminars.
In #111, Casey said:
There was A LOT of reliance on certain “professionals”.
Yes, you were a newbie in the real estate game, with knowledge gained mostly from a host of real estate seminars of dubious value. This made you vulnerable. There is a lot of money to be made in the real estate game, but you need to know what you are doing or go very, very slowly each step of the way. That is the lesson.
You were going so fast, grabbing properties all over the map, some sight unseen(!), hiring contractors. Yes, all done with bonafide “professionals”, but maybe not ones who had your best interests at heart at every step of the way.
Your ability to monitor all these professionals was limited by the breadth of your projects- you can’t be everywhere at once.
July 22nd, 2007 at 11:18 pm
Congrats Casey,
You have jumped you 14th shark.
Sweeeeet!
July 22nd, 2007 at 11:28 pm
If only ONE person would have told me that holding up a bank is ILLEGAL or I can go to JAIL for any of my burglaries or muggings, I would have not gone further.
July 22nd, 2007 at 11:37 pm
Um. Casey?
MANY people told you what you were doing was wrong.
repeatedly.
look at the comments section of your blog!
look at all the ‘experts’ you had lined up to help you ..somehow..all of a sudden…every single time…you parted ways with them.
what is the common demoninator?
YOU
July 22nd, 2007 at 11:41 pm
From eight houses to the Big House — the incredible odyssey of Casey Serin.
Good luck with the “no one ever told me lying was wrong” defense, kid.
asw: success
July 22nd, 2007 at 11:44 pm
Too bad you didn’t take any business ethics classes in college. But anyway — how about showing us your income and your intent to live in the house along with the bold print about not lying?
I hope you go to prison for this.
July 23rd, 2007 at 12:05 am
Did you even read any of the comments before you wrote your #111 blog? You are one weird, disconnected, amoral dude. Time to learn some lessons from life; those are the ones that sink in. Open your eyes, man. By the way, the 419 people are always looking for a few good men.
July 23rd, 2007 at 12:07 am
Casey,
You knew you were getting cash back in such amounts that it was clearly illegal. Please, stop the farse! You did what you did knowing very well what you were getting yourself into.
As for predatory lending, you never intended to repay those mortages anyway. At best, you thought you could do a quick flip and get out of the properties way before the ARM’s reset.
As for you being a whistle blower, well, good luck with that. You decide to take your lenders to court and you’re toast. They’ll come after you with your signed false applications, which constitutes fraud BTW.
July 23rd, 2007 at 12:08 am
Really? If one person told you it was illegal you wouldn’t have done it?
Lots and lots of people told you the corporate credit thing was illegal and not to do it, and you did that anyway.
How many times have you ignored good advice to follow your bliss?
July 23rd, 2007 at 12:27 am
Haha,
I am just amazed at the fact you don’t realize that you knowingly engaged in fraud, and you’re attempting to sue others for doing the same exact thing you did. My god, you’re such a dirtbag.
July 23rd, 2007 at 12:34 am
It’s funny how Casey turns “shades of grey” into a black and white situation with him and the lender.
Casey seems to think that if the lender/broker/whoever allegedly acted “black” then he is “white”. He doesn’t realize that he’s still on the hook for any fraud he committed, even if other parties committed fraud as well.
BTW, Casey seems to be recycling from his 2006 post #31 as well.
Claiming ignorance also contradicts some of his earlier posts.
July 23rd, 2007 at 12:34 am
Go for it!
If you can walk away from your debts with little repercussion you’ll drive Rob Dawg and the haters absolutely INSANE!!!
Do it!
July 23rd, 2007 at 12:35 am
“Gray area” typically means the following:
1) Something Casey thought he could do, but wouldn’t get caught.
2) Something Casey thought he could do, but avoid illegal activity through some dodging of the law.
I spoke to one of your lenders today. They said “I think he’s bluffing”
July 23rd, 2007 at 12:48 am
If only ONE person would have told me that anything I’m doing is ILLEGAL or I can go to JAIL for any of my deals or loans, I would have not gone further.
So are you saying that the forms they issued you had all the usual legal warnings removed?
Now if that’s true, then you certainly would have a very strong case…
…but it isn’t, is it, Casey? Whatever else your gurus told you, the form itself should have made it abundantly clear that giving false information is a crime - and crimes are illegal by definition, and can lead to jail sentences.
Put bluntly: if you plead ignorance, then you’re also confessing to be a dribbling moron. I’d remove that “Casey’s IQ is 131 - what’s yours?” link if you want that defense to stand up!
July 23rd, 2007 at 12:54 am
“If only ONE person would have told me that anything I’m doing is ILLEGAL or I can go to JAIL for any of my deals or loans, I would have not gone further.”
Correct me if I’m wrong, Skippy, but I’m seeing an entire blog full of comments telling you just that.
The only defense that remains is to plead functional retardation. In this context eating a bug will likely help your case.
July 23rd, 2007 at 1:17 am
“…I am amazed what I didn’t know.”
Don’t be too offended by this Casey, but no one else here is amazed at all.
Now stop and think for a minute. You were actively “investing” in real estate for nearly a year, and you are still amazed at what you don’t know. That teaches us two important lessons:
- Do you think that there might also be vast ocerans of knowledge on entrepreneurial-ship that you are equally unaware of?
- If, after being willingly raped by lending companies (you went for hard money loans for goodness sake), you are just learning about predatory lending, maybe you aren’t quite prepared to enlighten the masses about foreclosure?
Meanwhile, here’s my list of questions from yesterday, all topics that your readers are interested in hearing about:
1) Have you updated your resume?
2) Have you actually applied for any jobs, other than the one your “advertiser” was pitching to you?
3) What types of jobs are you applying for?
4) You said you had a higher offer than Duane’s for selling the blog. What happened to it?
5) What’s going on with Marty?
6) Have you solved the mystery of the missing Utah payment yet?
7) Have you contacted Cashcall yet?
8) Have you even tried to update your financial statements since Feb? Do you even have access to the documents?
9) Have you settled your case yet?
10) Who, specifically, informed you about the FBI? Have you bothered to confirm that the phone call you got wa from a real agent?
July 23rd, 2007 at 1:20 am
Good defense in view of the coming criminal charges…
Good luck!
July 23rd, 2007 at 1:32 am
Casey,
Does all this matter. Your 2006 taxes are due in less than 90 days. When you blow that off and the tax man cometh, they’ll start nosing around and bring their fbi friends. If you’re w*** hasn’t left you by then, she’ll be filing the papers soonafter.
BB
July 23rd, 2007 at 2:06 am
This is a smart move Casey. You should sue for emotional distress due to their bad lending policies, it’s the American way.
July 23rd, 2007 at 2:42 am
aaack!!
This reminds me of some of those crazy lawsuits, where burglers sued the owners of the property they were attempting to buglarize - because they somehow got injured during the buglary … like, by falling through a skylight or something.
Hey, if it worked for them, it might just work for you!
thpptttt!!!
S_t_C
July 23rd, 2007 at 3:17 am
How about just using common sense?
July 23rd, 2007 at 3:22 am
“If only ONE person would have told me that anything I’m doing is ILLEGAL or I can go to JAIL for any of my deals or loans, I would have not gone further.”
Yeah you are right some one could have at least alerted.
July 23rd, 2007 at 4:03 am
You think someone should have to tell you that lying on a loan application is is going to get you in hot water? You were hopped up on guru speak at the time, would you have bothered to listen? You also manipulated to system so you could borrow from multiple lenders without them knowing!
Good luck, I’m off to my W-2. But I guess on the bright side I have a spouse and house to come home to tonight.
ASW: looser. That really sums it up, right there.
July 23rd, 2007 at 4:15 am
BAD idea, Casey. VERY, VERY, VERY BAD. Your lenders know about your mortgage fraud. They just don’t think you’re worth the bother to pursue. That will change if you try to pursue your lenders for “damages”.
Beyond that, what kind of a man are you? You obviously committed mortgage fraud. That’s bad enough. Then you didn’t honor your commitments and got foreclosed on. And now you’re the victim. You obviously have no honor.
How’s homelessness treating you?
July 23rd, 2007 at 4:59 am
Dear Casey, Donald Rumsfeld would agree with you
As we know,
There are known knowns.
There are things we know we know.
We also know
There are known unknowns.
That is to say
We know there are some things
We do not know.
But there are also unknown unknowns,
The ones we don’t know
We don’t know.
July 23rd, 2007 at 5:17 am
Casey, run for local public office ! What the hey, U would do great in politics!
July 23rd, 2007 at 5:30 am
This farce has gone far enough.
Casey said:
“If only ONE person would have told me that anything I’m doing is ILLEGAL or I can go to JAIL for any of my deals or loans, I would have not gone further.”
1. If this is all a Lonelygirl17, enough already.
2. If it is not, my hatred burns with the heat of a thousand suns towards the goal of having you locked up in prison for your crimes, and actually doing hard time.
I can’t be the only one, either. You talk about hate? You haven’t begun to see hate, since so far everything has been ‘virtual’ and ‘all good’ to you.
Wait until the real world of the IRS and the legal system finally scratches the flea that is burrowing around on it’s back.
No one but you could have had the brass to write that comment above, or the thread starter; you comparatively make the fictional George Costanza look like a paragon of virtue.
How could you possibly grow up to become so completely AMORAL?
Society has a right and a need to remove people like you who will not play by the rules that ensure good order and trustworthy business transactions — fundamentals that the free market system and our society relies on completely.
You are like a human algae-filled pool pulling down home values. Anyone else would feel bad about being a scourge — you merely stop to consider how to ‘monetize’ it.
July 23rd, 2007 at 5:42 am
If only ONE person would have told me that anything I’m doing is ILLEGAL or I can go to JAIL for any of my deals or loans, I would have not gone further.
–Many of us repeatedly told you not to do your corporation idea, and you did, despite us letting you know it was illegal. You still did it.
Eat your crow boy
July 23rd, 2007 at 5:55 am
Snowflake:
You lied on your loans. A 5 year old knows lying is bad, telling the truth is good.
Your actions were meant to raise the price of housing for people who, well, you know, need houses to live in. You were speculating with someone’s home. That’s bad.
You aren’t an investor, BECAUSE you never invested YOUR money. That’s the reason why you don’t care about the 10K or so you loaned to the Houston guy - since you didn’t work for that money, you couldn’t care less. Usually, people care about their money. When they work for it.
Nobody put a gun to your head and ordered you to sign the documents. Anyone with half a brain would have asked a lawyer to review them first. Common sense.
You, of your own free will, lied to lenders and bought 8 houses simultaneously, so nobody could check your credit references.LYING is BAD. NO GRAY AREA. LIES ARE BAD. Kids under 2 years old know this.
Also, you took cashback at closing, an illegal practice when it exceeds a certain %. YOU KNOW, ILLEGAL = BAD.
If everyone was like you, society would be chaos. People running over red lights, throwing trash on the street, stealing stuff, insulting others… because all of it is a “gray area”.
Maybe that’s the way it works in Uzbekistan or whatever, but not here, Casey.
July 23rd, 2007 at 6:06 am
“If only ONE person would have told me that anything I’m doing is ILLEGAL or I can go to JAIL for any of my deals or loans…”
First, not jail, prison. Second, MANY people have told you this on your blog, and yet you were still trying to do another shady deal as recently as a couple of months ago. Also, MANY people told you you could go to prison for your corporate credit scam, but you did that anyway. I call BS.
July 23rd, 2007 at 6:15 am
Seriously Casey -
it’s really way too late to try this route. Just like you’re too old to make that Macaulay Culkin “Home Alone” face the way you did in the Australian shipwreck photograph, no one is going to buy this “aw shucks, I was innocently led into mortgage fraud.” Dude. You bought eight houses in a short period of time, claimed all were your personal residences, and have said repeatedly (sometimes recorded, video and audio) that you were primarily doing it for the cash back to live on/pay the holding costs of earlier houses.
I recently -finally- got around to watching the Rich Dad TV thing (conveniently located on your “about” page, but don’t bother removing it, I’m sure multiple copies exist all over the place). That clip ALONE buries you.
But never mind Casey, “itsallgood” right? People are writing songs about you and sending you photoshop parodies like mad, right? Attention! Attention! Bask in it!!!
July 23rd, 2007 at 6:18 am
I think line 204 on the HUD says it all. Downpayment/escrow. I bet there’s cash there that never really existed.
July 23rd, 2007 at 6:24 am
Uhm, Casey-
Don’t you realize that it’s wrong to lie? You would never have done it if you knew it was illegal? Why did it have to be illegal; why wasn’t just “shady” or “lying is wrong” a good enough reason?
July 23rd, 2007 at 6:27 am
What happened to all the funny haterz? This crop is a waste of space. The only one worth reading is Timeline guy.
July 23rd, 2007 at 6:28 am
You honestly thought that lying on a mortgage application was a “gray area”?
And what about lying on eight mortgage applications simultaneously so that none of them show up on the credit checks for the others? What was that? A “dark gray area”?
Bullshit, Casey.
July 23rd, 2007 at 6:32 am
If this is the new lawyers advice, please fire him/her. Or at least give them all of the info. Like the talkshoe transcripts, and the Suze Orman tape, and the Investor club speech. You have been pretending to be a GURU for the last 9 to 10 months, and now your defense is that you didn’t know right from wrong!! Or “I thought it was in a gray area, like speeding!” Guess what, speeding is illegal! There is no gray! Don’t get set up by lying under oath Casey. You knew what you were doing. Just because you didn’t research the severity of the crime does not make you any less culpable. The “I knew it was “illegal” but not “super illegal” defense will probably piss the judge off. Throw yourself on the mercy of the court, and cooperate fully with the authorities. Stop trying to pull people down with you.
July 23rd, 2007 at 6:34 am
Strange that this is a different story you’ve been singing since the beginning.
Just because you state something doesn’t make it so. The FBI isn’t buying it.
July 23rd, 2007 at 6:39 am
Hey Casey,
Sweet !
Right above where you signed for the loan on the Fannie Mae Uniform Residential Loan Application form there is the following statement :
“I/We fully understand that it is a Federal crime punishable by fine or imprisonment, or both, to knowingly make any false statements concerning any of the above facts as applicable under the provisions of Title 18, United States Code, Section 1001, et seq.”
Sweet Casey !
Lemme know about the Dallas subject to - if you are interested. The guy needs to know by the end of the week - or he’s going to sell to someone else he has lined up. As I said, for some reason - he wants to help you. I think he was in a similar situation when he was a 24 year old !
Loads O Money
July 23rd, 2007 at 6:40 am
Mr. Serin,
The meaning of integrity is doing the right thing even with no one is lookng …. you have no integrity.
You intentionaly defrauded your lenders …
You lost …
And NOW you are trying to see if you can recoup YOUR losses by digging for evidence that THEY defrauded you?
You are the lowest of low …
I hope your wife leaves you for good …. she needs a real man who has integrity ..
I am yet again e-mailing the FBI about your fraudulent activities.
I hope you go to jail and meet your next “wife”.
SCMUCK!
July 23rd, 2007 at 6:59 am
I see oneyearbeggar, #45, dropped in to PULL A NIGEL™. Keep up the good work there dope. Casey had a one time begathon, but your’s is 24/7. Haha.
Two points to Casey:
1. You outright lied regarding intent to live in the property, doing simultaneous mortgages, etc. The questions are right on the application stating penalities for lying. You signed that page. No gray area there.
2. Ignorance of the law is no excuse.
July 23rd, 2007 at 7:15 am
It is a shame you are going this route. Take responsibility.
July 23rd, 2007 at 7:34 am
You are some piece of work Casey, your post at# 110
sums it all up, you forgot one thing, those tapes
that you made, maybe you can pay Marty off, so
he doesn’t release them.
Your like the child that says, but everyone else was
doing it…
There is a saying when you decided to sue someone
you have to make sure you have clean hands, ask
your lawyer what that means or better yet the
company that you are paying to help you out of this mess, a mess that you created.
For someone who is suppose to be broke, you
sure have a lot of money to throw away on nonsense, ohh but then maybe its not your money
so its all good.
By the way what is there fee.
July 23rd, 2007 at 7:39 am
I guarantee that the first LO or RE agent that told you what you were planning to do was illegal, you would have kept going until you found someone that told you what you wanted to hear. You wanted to be a RE investor at any cost, methods be damned. This was the way out from that looser W-2 job. The truth is that you didn’t qualify for any of the loans you took out.
All along you have told us you intended to repay your loans. Now you claim that the mortgage companies took advantage of you because you didn’t really have the ability to pay them back. They encouraged you to lie or at least turned a blind eye towards it. If that is the case, how can you state you intended to repay when you knew you couldn’t repay in the first place?
The only people I can see you having a case against are the RE gurus (NRU, Russ Whitney, etc) who gave you the 100% financing, occupancy lies, and cashback schemes, and the mortgage brokers and title companies that helped you structure these deals. I have written to the state Financial Services division on behalf of borrowers who were taken advantage of by their lenders. Each time the state took no action against the lenders. All the state cares about is the lenders had you sign the proper paperwork. The state could care less if the lender did right on your behalf. Save your money Casey. Your going to need a good defense lawyer if the FBI is on your case.
July 23rd, 2007 at 7:43 am
Oh Casey, you little baiter.
I hear that prison rape is not often prosecuted, but that it happens all of the time. Grey area?
Anyway - what would the lenders have to gain by scamming you? Didn’t THEY lose a bunch of money. I can’t figure out your point, here?
July 23rd, 2007 at 7:59 am
The only way I could think that this would be “gray” would be this: You lie on your loans, get the money, successfully buy, fix and flip a house and pay back the loan before anyone notices. People would look at you later with crossed eyes but say “no harm no foul”
You on the other hand bollixed it 8 times in short order (okay, simultaneously). You got the get the money and buy the houses part down. You didn’t make the fix’n'flip parts successfully so you were forced to stew in your own juices. It was your lying that trapped you there.
If I can give a suggestion: After you get your advice from the truth in lending people, take the whole kit-and-kaboodle to your lawyer and explain to him what is going on on that front. You don’t want your lawyer blind sided now do you? As a better suggestion, inform your lawyer that this is occuring, he may have comments or suggestions that would be helpful.
July 23rd, 2007 at 8:05 am
“I guess, as they say - you don’t know what you don’t know. I will not say anymore until I have everything properly researched and backed by experts.”
Of course, as they say, “Ignorance of the law is no excuse.” These adages cut both ways.
Okay, okay, so I’m only the 40,000th person to tell you that. Good luck with it anyhow.
July 23rd, 2007 at 8:14 am
Wow - isn’t this ironic!
Truth-in-lending VS. truth-in-borrowing
Probably the best way to get your loans forgiven would be a chapter 7.
July 23rd, 2007 at 8:22 am
Casey, my offer still stands. $35 for eating a live bug on webcam, and $50 for a live scorpion.
July 23rd, 2007 at 8:27 am
The best I got was “gray area” while most of my professionals / investors / associates / gurus didn’t think there was anything wrong. Perhaps this might be the time to paint the picture with all the colors.
Are you really gonna turn into an informant and throw all of these people under the bus? Already? You haven’t even been interviewed yet, and already talking about being a snitch! You are gonna be a very popular guy. The FBI is gonna have a field day with all of you weaklings!!!!
July 23rd, 2007 at 8:28 am
Ignorance of the law is NEVER an excuse.
July 23rd, 2007 at 8:31 am
So, how’s that “personal responsibility” going for you, there Casey?
July 23rd, 2007 at 8:44 am
I am sure u violated the truth in lending act, no need to get an expert.
July 23rd, 2007 at 8:46 am
Ignorance will save you!
ASW:fresh
July 23rd, 2007 at 8:47 am
Listen up, chump.
The only illegal or unlawful actions concerning your mortgages were done by you. And hopefully, someday you will pay for it.
July 23rd, 2007 at 8:53 am
Look, you haters™ are being kind of harsh. Maybe I didn’t quite explaine myself articulately.
What I was tryin to convey is that I am just one of thousands, if not millions (man I like that word) who wound up in the mortgage mania and got in over my head. The deals all seemed so sweet™ at the time and the realtors and gurus™ and Univeristy types™ were all telling me of the money I could be making. Then when it came time to fill out the applications, they were all so confusing and complicated™.
They were asking all sorts of random questions and I was in a hurry because I felt that if I didn’t buy right away, I would be priced out forever™ (That’s what Ami my realtor kept saying). I fully intended™ to be accurate, but I was in such a hurry™ I couldn’t keep all of those numbeers straight in my head. I mean they were using terms like assets and liabilities and at that point I had only gone to 11 seminars, met with 5 gurus and paid only about $40,000 in University quality education, so a reasonable person could not be assumed to think that I would understand what I was doing. Right?
Plus the cash back thingy™. I was told that everybody was doing it™ and if I didn’t I would have the juice to keep the deals going so it made perfect businsess sense™. I really do want to pay back every dirty penny™ but if it turns out that I was hoodwinked by some high powered mortgage banker in an expensive suit, then they should not only have to cancle my loans, but give the properties back to me free and clear, and also pay for my damages.
I had a feeling many months ago that something was not right™ so I stopped making payments, fully intending™ too™ start them again once I read my loan documents to see what they really required me to do. I mean if a bill shows up in the mail do you just pay it? No. You first have to do the research to see if it is a valid request in proper form for goods or services actually rendered under the specified terms and within the statutory time frame as prescribed by law™. See? It really isn’t that easy when you begin to analyze it in the cold hard light of a businessman.
That’s why I began to assembe my network of highly trained professional™ in my quest to clarify my obligations under law. I just go a little carried away™ and forgot what my prime objective was. I really didn’t remember it™ until Thursday when I heard an ad about a new “get out of debt in 120 days guru”™ advertising about all of the slimy lenders and lending practices. I suddenly remembered that back in October I intended™ to read my contracts™.
At first so much time had gone buy™ I was afraid that their™ was nothing that could be done, but then when I called Paul, he said that if I enrolled for the discounted price of $2,995.00 right away, he would reveal to me “The top 10 mistakes people make when signing contracts”™, “8 simple steps to financial independence”™ and 9 ways to avoid foreclosure legally”™ (I sure could have used that one!). Plus, Paul said, if I ordered right away he would also include “why 11 million people could be millionaires but won’t”™ and “Think it’s too late to stop forelosure? — 5 secrets to getting your properties back fast”™.
Since I was in a hurry, I paid the extra $395.00 for overnight shipping. The course work (and a free 1 year access to unlimited telephone support) will be hear™ this afternoon. I’ll update later.
–TLG™
July 23rd, 2007 at 8:55 am
Casey if anyone should go to jail its those mortgage brokers who pushed these loans on you. You relied on their expertise as professionals.
July 23rd, 2007 at 9:06 am
What you should do is have all of your RE Guru materials evaluated against the truth in lending act.
Considering how all of your other “business” relationships have worked out, I wonder how long it will take until you frustrate your lawyer so much that he drops your case and starts guest-posting on Exurbannation.
July 23rd, 2007 at 9:24 am
go to jail.
July 23rd, 2007 at 9:35 am
A friend of mine was _really_ pushed to sign a mortgage application by RE, mortgage broker, and even the brokers agent at the lender. The document had false income and other erroneous information that she did not write in the original application. They already had provided her with an “approval” and instructions. It was such common practice that even after she refused to sign the documents, she received a copy of instructions for monies to be transferred to her solicitor three days before closing.
She decided to pass on the home purchase instead of lying on the application.
BTW
July 23rd, 2007 at 9:49 am
Casey,
Where are you living now?
July 23rd, 2007 at 9:50 am
I would give anything to take Casey’s deposition!
July 23rd, 2007 at 10:00 am
@163
Yea, that “one year guy” is annoying as hell. Maybe when Casey finally goes down in flames the haterz can move on to him!!! Retard loser. (not you, winner, the “one year guy”).
July 23rd, 2007 at 10:02 am
@ 163
Yea, that “one year guy” is annoying as hell. Maybe when Casey finally goes down in flames the haterz can shift their attention/ire to him. Retard loser. (Not you, 163, the “one year guy”.)
July 23rd, 2007 at 10:12 am
Casey,
You should forget about trying to weasel your way out of the frauds you’ve perpetrated and concentrate on how you are going to survive in prison. I recommend a book called “You Are Going to Prison”, a no-nonsense authoritative account from an ex-con who went to the federal pen and witnessed/experienced the unholy terror that awaits you there. Without going into detail, let’s just say that your status as a young, good-looking, effeminate white guy will put your life in grave danger the second you walk in to your new cell block. Your only hope may be your Russian roots, and only if there happens to be a large Russian mafia contingent present at the prison you get sent to (assuming they help you instead of selling you to the highest bidder).
I wonder if you realize just how much trouble you are really in Casey.
Regards,
Charles.
July 23rd, 2007 at 10:13 am
KC trying to spin history… no wonder the website content may disappear soon… remove the facts and he can spin this in any direction he wants…
July 23rd, 2007 at 10:19 am
So are you saying that the expensive seminars with Robert Kiyosaki did not teach this very simple and important information?
Are you saying that those seminars are scams?
July 23rd, 2007 at 10:25 am
Casey, are you actually threatening your lenders?
You do realize that this is a truly, jaw-droppingly, toe-curlingly, bone-headedly and generally unbelievably stupid thing to do, don’t you?
I suspect most of them are wondering whether or not it’s worth suing you. You might just have given them the perfect excuse. I know your IQ isn’t really 131 (because you cheated in the test), but just how much lower is it?
July 23rd, 2007 at 10:28 am
OK, my typing skils™ arn’t™ what they should be.
After my most recent comment, I ren it through my speeling/grammer™ checker. Here is what it should halve™ been:
I WROTE: “It’s crazy… after talking to this anti-predatory lending company I am amazed what I didn’t know. After I get my papers reviewed I should know for sure. I knew there was a lot of craziness going on in the lending industry. I saw it first hand.”
CORRECTED: This new Guru™ that I subscribed too™ said that the lending was so fast and easy that EVERYBODY should get in on it. After all, I wanted to make money and not get “priced out forever”. I figured I’d have tmie to read the documents from the Bahamas.
I WROTE: “But I never felt like I should be the “whistle blower”, since I didn’t really know what I was doing and what is right and what wasn’t. There was A LOT of reliance on certain “professionals”. I didn’t do any of this in a vacuum.”
CORRECTED: It seemed like a cool little secret. Why would I want to blow it when I could get in the the biggest gravy train in 30 years? This was makingt he tech bubble look like child’s play. After all, everybody was making money hand over fist. Plus, my realtors were saying “do it now or you’ll be priced out forever”™ and “nobody has to know. everyone’s doing it. Just signhere”™
I WROTE: “If only ONE person would have told me that anything I’m doing is ILLEGAL or I can go to JAIL for any of my deals or loans, I would have not gone further. The best I got was “gray area” while most of my professionals / investors / associates / gurus didn’t think there was anything wrong. Perhaps this might be the time to paint the picture with all the colors.”
CORRECTED: Sure, if only ONE person mentioned Jail I would have listened, buy EVERYONE said “you have to be honest or you’re gonna be in a world of hurt. This is a Federal Crime to lie”. I just figured it was all like a big inside joke™. If EVERYBODY’S saying it it’s like the gagline to a stupid joke. Right? When I’d ask what they meant, all I’d get was “what part of illegal don’t you understand?” I mean what’s that supposed to mean? 100% gray™ in my book.
I WROTE: “I guess, as they say - you don’t know what you don’t know. I will not say anymore until I have everything properly researched and backed by experts.”
CORRECTED: How was I supposed to know. I mean all of those university courses and seminars had such thick books and pages of materials. It could take days™ to read it all. I was listening to my realtor telling me to “do it now or be forever riced out of the market”™ and the Guru’s and leders were telling me “It doesn’t matter, everyone’s doing it, and besides, real estate only goes up and interest raes only go down. Hurry”™
So their™ you have it. I was completely duped. Even after I started having problems, somethin like 55% of the people I talked to said it was OK. So with a consensus like that, how could it be illegal™?
July 23rd, 2007 at 10:40 am
Way to go Casey! Unless there is a legal quirk that I don’t know about, your lenders still have civil claims against you for the frauds you committed against them. Sue them for TILA violations, and you may get all of the interest knocked off the loans and/or a few hundred plus lawyer’s fees. That is unless the unclean hands doctrine applies to TILA claims. If it does apply, you won’t get anything.
What you may get is a counter-suit for fraud that will eat up any possible benefits and zap you with punitive damages, that may not be discharge-able in bankruptcy.
You will also open yourself up to discovery. With LMP, you can probably plead the 5th to discovery of incriminating testimony and documents. If you sue, then you very well may not be able to cry 5th. If you are deemed to have waived your rights by filing the lawsuit, pretty much everything is fair game.
You are sofa-king stoopit!
July 23rd, 2007 at 10:58 am
THIS MEANS WAR!!
July 23rd, 2007 at 11:12 am
Why don’t you just post your mortgage doc HERE and let your readers give you some insights? Would probably be a lot more thorough.
July 23rd, 2007 at 11:33 am
Timeline Guy™ I love you.
July 23rd, 2007 at 11:35 am
Casey,
One place you might want to look in your sudden quest for truth in lending is the IRS form 4506 that you should have been required to sign at closing, giving the mortgage company permission to review your tax records to confirm that the income figures you gave them were supported…..just a thought…..
July 23rd, 2007 at 11:39 am
Hey Casey, remember signing all those 1003 forms with these words? You did it so often, you should have the verbiage indelibly burned in that sizzling hot 131 IQ brain of yours.
Would you be so kind as to tell us what this paragraph means? Since you are fortunate to be gifted with an “almost genius level” mind and superlative verbal skills, please interpret it for us lesser mortals.
“Each of the undersigned specifically represents to Lender and to Lender’s actual or potential agents, brokers, processors, attorneys, insurers, servicers, successors and assigns and agrees and acknowledges that: (1) the information provided in this application is true and correct as of the date set forth opposite my signature and that any intentional or negligent misrepresentation of this information contained in this application may result in civil liability, including monetary damages, to any person who may suffer any loss due to reliance upon any misrepresentation that I have made on this application, and/or in criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Sec. 1001, et seq.; (2) the loan requested pursuant to this application (the “Loan”) will be secured by a mortgage or deed of trust on the property described in this application; (3) the property will not be used for any illegal or prohibited purpose or use; (4) all statements made in this application are made for the purpose of obtaining a residential mortgage loan; (5) the property will be occupied as indicated in this application; (6) the Lender, its servicers, successors or assigns may retain the original and/or an electronic record of this application, whether or not the Loan is approved; (7) the Lender and its agents, brokers, insurers, servicers, successors, and assigns may continuously rely on the information contained in the application, and I am obligated to amend and/or supplement the information provided in this application if any of the material facts that I have represented herein should change prior to closing of the Loan; (8) in the event that my payments on the Loan become delinquent, the Lender, its servicers, successors or assigns may, in addition to any other rights and remedies that it may have relating to such delinquency, report my name and account information to one or more consumer reporting agencies; (9) ownership of the Loan and/or administration of the Loan account may be transferred with such notice as may be required by law; (10) neither Lender nor its agents, brokers, insurers, servicers, successors or assigns has made any representation or warranty, express or implied, to me regarding the property or the condition or value of the property; and (11) my transmission of this application as an “electronic record” containing my “electronic signature,” as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or my facsimile transmission of this application containing a facsimile of my signature, shall be as effective, enforceable and valid as if a paper version of this application were delivered containing my original written signature.”
July 23rd, 2007 at 11:48 am
Let me get this straight. You are blaming the lenders for high interest rates as if you were a grieved consumer? You signed these deals knowing what they were because YOU admitted that nobody would loan you the money to buy these homes.
You signed these deals so you could lazily get “rich” and now that it appears you were wrong, it’s everybody else’s fault?
Disney and Ford both filed for bankruptcy when their initial business models failed. Guess what? They didn’t blame the banks, investors and consumers for their failures. They learned and moved on. Now you are NOT even in their league, but you reinforce that you are NOT an entrepreneur but a little kid pretending to be one. Things didn’t go your way so you want somebody else to blame instead of the scruffy headed hippie (you) who is looking in the mirror everyday.
July 23rd, 2007 at 12:02 pm
Timeline Guy, you rule. Your posting of June 7th is a classic.
July 23rd, 2007 at 12:05 pm
Go right ahead, Casey, please. Who exactly told you that:
* inflating your income
* lying about primary/secondary occupancy
* taking undisclosed cashback
* concealing existing loans
* using appraisals that you knew were unrepresentative of the current market
was all OK, hunky-dory, nothing wrong with that?
Was it the gurus? Was it your investment-club cronies? Was it your NRU buddies? Was it your mortgage brokers? We’d really like to know.
But fundamentally, Casey, you signed the applications. You signed the letters that described how you planned to live in the properties, really, honestly you did. You received the under-the-table cashback. And you did it over and over again.
You knew it was “gray”. You knew it was “shady”. And you knew full well that those terms really meant “illegal”. You just thought you’d get away with it.
And now you want to recast yourself as a victim?
NO DEAL.
The buck stops with you.
July 23rd, 2007 at 12:19 pm
Casey, I feel it in the air, again, that you are being distracted from your true calling.
You need to put all of your efforts on doing more flips Casey, it’s calling out to you. I can feel it Casey.
Borrow more! You have not borrowed money from Papa Serin! It’s time he gives you some of that sweet money he has saved away. The money feels better in your hands then in his. Rigtht Casey?
July 23rd, 2007 at 12:23 pm
Golf clap for Timeline guy.
Double dipping was twice as good.
July 23rd, 2007 at 12:23 pm
Hey Kid:
“But I never felt like I should be the “whistle blower”, since I didn’t really know what I was doing and what is right and what wasn’t. There was A LOT of reliance on certain “professionals”. I didn’t do any of this in a vacuum.”
No, hobbit, there was a vacuum…the one inside your skull.
Y’know what I’m smelling, Mursebearer?
Desperation.
Your scam fell apart because lenders tightened up after Congress changed the bankruptcy laws.
Then your “Corporate Credit/Getaway Vehicle” got 4 flat tires and a seized transmission when your guarantor woke up to what you were doing and said “Nyet!” to any more of your shenanigans.
And this is your last, wild-eyed pitch to somehow get yourself out of the mile-deep cess-pit you jumped into with that anchor handcuffed to your wrist.
I got news for you, sonny…you’re going down. All the way.
Reading between the lines of your little “aw, shucks-golly” screed, I very clearly perceive a stated threat by you to drag as many names down into the whirpool of dung that your life has become.
T’ain’t gonna work, either.
You got a taste just last week of what happens when people even think that you’ve damaged their reputations and libelled them.
You didn’t seem to enjoy your little pas-de-deux with Loss MitPro…and he let you off easily.
Wait until some of the other people learn that their names and businesses are falling from your v***** -like lips…hoo. boy!
Hobbit…nobody but an utter dullard is going to believe anything YOU say.
July 23rd, 2007 at 12:32 pm
Still not talking to your wife, I had a great time hanging out with her!
July 23rd, 2007 at 12:38 pm
Fact 1: Timeline Guy™ is the funniest guy alive.
Fact 2: Casey, if you truly believe a lender screwed you, then I bet you are going to go for the insanity thingy during your trial.
July 23rd, 2007 at 12:39 pm
Sorry, Casey. I may have overstated my case a bit.
So, let’s scale that hate-level back to the heat of a mere four or five hundred suns, m’kay?
XOXOXOXOXO
July 23rd, 2007 at 12:44 pm
You can forget “shades of gray” and start thinking “shades of brown” as you clean the skid marks out of Bubba’s drawers!!
July 23rd, 2007 at 12:49 pm
Man… there is some serious amount of hatin’ happenin’ here. I must of hit a sensitive area for some of you people.
Come on, lets be a little bit more reasonable here. I will take a line straight out of the bible…
Those without sin let them throw the first rock. (or something like that… paraphrasing)
In other words, tell me which one of you have NEVER overstated ANYTHING (including little things) on ANY application or resume or tax return or whatever.
Not saying this as an excuse, I’m just trying to put all this in perspective.
July 23rd, 2007 at 12:54 pm
You deserve extreme everlasting pain.
July 23rd, 2007 at 12:57 pm
Consider my intent for a moment and my actions AFTER getting those 100% loans and cash-back.
1) I was told by gurus that to make lots of money is to buy a house from distressed owner, fix it up and flip it for some sweet cash.
2) I was told to use a mortgage broker (and sometimes real estate agents) to find deals and get financing. I was shown how to get cash-back at close.
3) I do that exact thing and tell my mortgage broker what I’m trying to do and tell my realtor (on the few properties where I used a realtor) what i’m trying to do
4) they show me what I need to do to get it done and find me the right type of financing. In all the cases the loan applications where filled out for me since they knew better what to state, to make it fly, etc…
5) I do my deals, do the loans, get the cash, put it all into the houses and make a bunch of mistakes in the process.
6) I continue doing the only thing I know how at this point to get out of this mess - buy more houses with cash back at close to float the previous houses. My goal is still to finish the rehabs, sell them and pay everybody off.
7) Out of desperation, I buy too many houses, lack of construction experiences causes me spend A TON more money then I planned on and having to manage all these rehabs long-distance get really challenging.
8) So I run out of cash after only having sold 2 houses. I realized i’m screwed as I run out of any other sources of money. I took out more credit lines to finance this whole thing hoping I can make it somehow. But now everything is tapped out and i’m really screwed.
9) I feel embarrassed at first at this failure, but then get over it and realize there is a great story to be told here. Both to try to get me out of this mess and also to help others.
10) I start www.IamFacingForeclosure.com last September and now we’re all here.
July 23rd, 2007 at 12:57 pm
Casey, I feel the force is with you again.
A sin is only a sin when confesed, so just ignore the whole thing Casey. You need to get back on track.
Papa, papa is the new shinny thing Casey! Borrow from Papa Serin and all will be well. You need to flip cause flipping is Casey. Flip Casey, Flip.
Follow your dreams.
July 23rd, 2007 at 12:59 pm
No, you’re trying to pull the old “no worse than speeding on the freeway” spin again. And you’re also playing your favorite talkcast game: question your questioners’ credibility.
Perspective? You want perspective?
How about this: there’s a world of difference between fluffing your experience on a resume and committing multiple serial counts of mortgage fraud. A world of difference.
July 23rd, 2007 at 1:01 pm
Reason I haven’t been telling the full story on all this is I’m usually not the one to point fingers.
I’ve always been under the believe that its better to take responsibility, even if its not completely my fault. However, under the circumstances I’m in now and the crazy “movement” (haterz that don’t understand how the industry works) around my story, I regret NOT telling the story the CORRECTLY way from the start.
Because now everybody thinks i’m a “scammer” a “fraudster” a “criminal” etc… Everything was done with good intentions but it sucks how things are turning out.
July 23rd, 2007 at 1:05 pm
Man… there is some serious amount of hatin’ happenin’ here. I must of hit a sensitive area for some of you people.
The only “sensitive area” you “must of (sic) hit” is your assumption that we’re as stupid and gullible as you are.
Come on, lets be a little bit more reasonable here.
What’s the point of being reasonable in the face of someone who, despite receiving tens if not hundreds of thousands of comments pointing out in explicit point-by-point detail exactly why his various deals are illegal, then turns round and says “It’s all the lenders’ fault! I didn’t know!”
Which means that either you’re a liar or you’re mentally retarded. There is no third possibility. Which of those are you more comfortable with?
I will take a line straight out of the bible…
Those without sin let them throw the first rock. (or something like that… paraphrasing)
In other words, tell me which one of you have NEVER overstated ANYTHING (including little things) on ANY application or resume or tax return or whatever.
Well, I genuinely don’t think I ever have, for starters - certainly not on important forms like mortgage, tax return or credit application. And even if I’d overstated a “little thing” on a less important form, that hardly compares with your deliberate, calculated and repeated lying on nine mortgage applications, does it? (I’m counting the one that was rejected).
You’re trying to compare someone who’s swiped a candy bar on impulse with someone who’s robbed eight banks.
Not saying this as an excuse, I’m just trying to put all this in perspective.
As was I. The fact is that no amount of spinning or dissembling is going to disguise the basic truth - which is that YOU are solely responsible for your financial plight, because YOU decided to scam the system by DELIBERATELY applying for multiple mortgages at the same time from different lenders, and KNOWINGLY giving them false information.
You do not have one iota of a case against them. But they have a massive case against you. Do you really want to take them on?
July 23rd, 2007 at 1:06 pm
Hi Casey, intent is very important in cases like this, mens rea and all that, so you should do everything you can to document your intent at the time. Make sure you keep a list of all the people you talked to, especially mortgage brokers. If the brokers are dirty, that can really help you.
You need to be able to track these people down if it comes to some kind of litigation and they need to be deposed.
July 23rd, 2007 at 1:07 pm
Actually, you started to point fingers early on at IAFF, but then retracted those posts.
The only reason you are now pointing fingers, is because you have few if any avenues left open.
Caught you on multiple lies.
July 23rd, 2007 at 1:07 pm
You’ve had months to use your “131 IQ” [snarfle] to come up with a compelling ’story’, and your post #208 is the very best you can do, Casey?
Why were you stickin’ and movin’ so fast, across four states? Not to get the money before the shoe dropped, was it?
What made you think you could ever ‘flip’ anything? You di a rudimentary sink on one home, and did not even do pool maintenance or basic trash removal/garbage elimination on some of the others.
No jury in the land will believe you.
I can’t wait until you have your day in court, I very much hope they don’t offer you a stipulated sentence or other deal; and that you maintain your idiocy long enough to go all the way to a jury verdict!
How dare you (even as a troll) pull out this BS of it being the mender’s fault? Go back to your first IAFF posts.
Does the word ‘hypocrisy’ even register with you at this point at all?
And you ask who has not filled out a doc with a knowingly wrong value that was placed in their to give them advantage?
Me. I don’t lie on my 1040, I did not lie to get a mortgage, I did not pad my resume, and I don’t commit crimes, like you.
Have I got a speeding ticket, or accidentally broken something in a store? Sure. But I paid the price when I have made those missteps, something you NEVER seem willing to do. How’s your own speeding ticket? Do you buy insurance to drive these cars? How is Cash Call? Have you paid G***** ’s bills with your ad revenue? Did you keep putting na envelope of $1000 in the mail to her, as if it were the kitchen table, per your contract with your WIFE?
When are you going to come to grips with what a rotten little shite you really have turned out to be? Your parents have got to be fully ashamed. Your community, your friends, people that knew you in school.
Have you no sense of shame? None?
Even now?
July 23rd, 2007 at 1:11 pm
Talkcast, May 25th:
FlyingMonkeyWarrior: Well, so who advised you? Did you just pull this stuff out of the sky, or did someone advise you to do this? Do you own this and take responsibility for this?
Casey: Of course I take responsibility! I don’t blame anybody, I did it. And in terms of where I got the ideas with it, different places. I watched how some other people were doing it, other investors, and just through my own creativity and understanding the mechanics, yeah there was a lot of that.
July 23rd, 2007 at 1:19 pm
Casey, that is one of the most famous phrases in the Bible. I’m an atheist and even I could quote it correctly from memory.
But then again, you did have only 12% success in reading your verses last year.
July 23rd, 2007 at 1:21 pm
casey, you may be on to something. best of luck.
“Ameriquest to Pay $325 Million to Homeowners”
http://www.consumeraffairs.com.....tates.html
“Ameriquest and other mortgage companies are paying $325 million to homeowners who were victimized by predatory home mortgage sales schemes. Other companies involved in the settlement are Town and County Credit Corporation and AMC Mortgage Services, Inc., formerly known as Bedford Home Loans.”
July 23rd, 2007 at 1:23 pm
We’re angry with you because your story and attitude is always changing. It’s the perfect example of teflon politicians. They tell you whatever they think they can say without getting in trouble.
As for lying? I never have had to lie on a loan app. IT’S AGAINST THE LAW. If something goes bad not only could I lose a lot, but I could get in serious trouble. See, the difference between you and me is I don’t NEED to lie. If I can’t get a loan, I move on or find another lender. I don’t lie on resumes, loan papers, my taxes NOTHING. To assume I am “casting a first stone” is further proof you are either trolling for ratings (hits) or you are trying to make yourself feel better for your liar loans.
Look Casey, it’s always been about your bizarre reasoning. YOU sold yourself as this lazy, organic, get rich quick kid who couldn’t get it right. We didn’t. Don’t get all down on us because you can’t accept that if people like me have to lie I become what I despise.
I have a reputation to protect and I’ve worked hard for everything I have. Realize this…I was not all that successful until I hit 30 but I never gave up and I always worked hard even if it meant 12 hours a day. Now I travel the world, I meet interesting people and I have money to do whatever I want. I still have to work to maintain this, BUT I at least don’t work as long per day.
Stop making this about poor little you and stop pretending everybody does it. If you need to lie to get ahead you are doomed to failure.
July 23rd, 2007 at 1:24 pm
BTW - I know how the industry works. I wish you’d stop pretending like none of us knows diddly about real estate. Shoot, the homeless guy on the corner knows more than you. You are not a licensed pro either, so stop with the bizarre defensive posturing.
July 23rd, 2007 at 1:25 pm
Oh and if the gurus told you to jump off a bridge, would you do that too?
July 23rd, 2007 at 1:28 pm
“Those without sin let them throw the first rock. (or something like that… paraphrasing)”
And you call yourself a Christian?
Let the atheist help you:
“Let he who is without sin cast the first stone…”
Back the the “touchy subject” of your loans: as many before have stated, you were not misled by any “predatory lenders”. YOU were the predator.
Take a look at the situation: who defaulted? You. Who renegged? You. Who made the CONCIOUS effort to LIE on the applications? YOU!
But you know what? I am actually not upset about these posts of yours. Because they bring to light the fact that you are now desperate. You know agencies and law enforcement is looking into this matter. And you are desperately trying to divert blame. It’s really quite obvious.
But you can bail water out of the Titanic as much as you want. In the end, the boat is going to sink no matter what you do.
July 23rd, 2007 at 1:33 pm
Nice try, Casey. You’re pulling out Jesus’ words to suggest that people shouldn’t criticize the wrong things you’ve done? Why don’t you pull out the key phrase a couple of verses later?
“Go forth, and sin no more…” (John 8:11)
Wait, let me guess….NOW you can go forth and sin no more.
I won’t even go into the various examples of when Jesus exhibited righteous anger at the sinful nature or practices of the Pharisees. (money-changers at the Temple, etc.)
I posted a while back under a different name suggesting that maybe some of your readers are trying to hold you spiritually accountable. However, you seem to show the same respect for your so-called faith that you do for your readers’ intelligence. Accountability obviously means nothing to you. You can’t go out and do evil, and then cherry-pick a verse from the Bible to suggest people shouldn’t expect you to suffer consequences for your evil. You want the forgiveness from people without the repentance on your own part. It doesn’t work that way.
If you had truly repented of what you had done wrong, and made appropriate amends, you wouldn’t have such a screaming horde of haterz right now. At every step, however, you attempt to dodge responsibility and not make even REASONABLE efforts to make restitution for what you’ve done.
I’m not trying to use God as a hammer on you, Casey. However, I speak as someone whose father was asked to leave the church because he continued to follow a sinful path. It IS biblical…check it out. God is merciful, but he is also just. He expects true repentance, not a thrown-up “I’m sorry” as a cleanser for your past sin before you continue on to do the same thing.
I hope and pray you figure this out for yourself, and that your pastor is giving you good spiritual counsel. At the end of the day, though, it’s your choice. Just like it has always been.
July 23rd, 2007 at 1:35 pm
1) TimeLine guy is my first ever man-crush. Congratulations TLG.
2) Do you have receipts for this “ton of money” spent on the rehabs? How much did you spend, exactly? What did you have done?
3) Everyone thinks you’re a scammer because you’ve done plenty of scam-like things in the past. Like pyramid scheme emails, and trying to blag investment money from friends by misstating your position (this is fraudulent, btw).
4) “(haterz that don’t understand how the industry works)” - why do think you understand how the industry works? You seem to have done nothing but make mistake after mistake. Plus, there are realtors among the haters.
“Good intentions” isn’t a synonym with “I thought it would work and if it had, I would have paid everyone back”. You have a bad habit of being able to justify anything you do inside your own head. Unfortunately for you, what counts isn’t what you believe, but what you’re seen to be doing.
July 23rd, 2007 at 1:36 pm
If you check your mortgage application, I am certain you will find a block of text near the signature areas that says so “I swear under penalty of law that the information in this document is accurate”…or something to that effect. Falsifying information on applications, statements, etc is illegal. Doing so to get money (in this case, credit) is even worse. This really is common sense.
Of course, the proper thing to do is to admit you made a mistake, take responsibility for your actions, and face whatever consequences may result. After that, and after you learn from the experience, you can rebuild your life.
By the way you describe your “brokers”, who filled out the application for you, they did indeed break the law. However this doesn’t absolve you of your responsibility. In this situation, I would worry less about what they did (they will, eventually be caught up to and get what’s coming to them - by your eventual testimony or otherwise) and more about what YOU should do, for yourself and your family.
July 23rd, 2007 at 1:37 pm
Casey,
In post #207 you said:
“In other words, tell me which one of you have NEVER overstated ANYTHING (including little things) on ANY application or resume or tax return or whatever.”
Some people do it an get away with it and some people get caught and punished. It doesn’t mean the people who got away with it were doing the “right” thing - the only difference is they didn’t get caught.
Haven’t you heard about all the executives who have been fired or resigned for “little white lies” on their resume?
Sure, there are probably other parties who are also guilty of doing wrong (mortgage brokers, etc) in your case … however, you DID sign the application which stated everything on the application was true (which it was not).
No matter how “wrong” the lenders might have been, so far you have been able to escape any sort of fraud prosecution (at least you aren’t aware of any investigation - there may be a silent one you don’t know of). I GUARANTEE that if you try to challenge your ex-lenders, they will push back and there will ALSO be federal investigation of YOU.
Challenging these lenders at this point in tme could be the stupidest mistake you have made to date - you would be starting the ball rolling on your own criminal demise.
July 23rd, 2007 at 1:38 pm
Casey, 99% of the people out there are small thinkers with no business savy, who work in dead end jobs making 25k a year waitting for their pension. So of course they are calling you a criminal etc. If they come after you for these loans, they will have to put 100s of thousands of people in jail, because I GUARANTEE that EVERYONE who ever used a stated inclome loan has fudged their income. And guess what, in the eyes of the law, its no more or no less of a crime if you overstated your income by one dollar or one million dollars. Unfortunately most of the readers of your blog are not business savy, and dont understand creative financing, and the fact that most entrepeneurs get paid differntly and therefor cant produce a W2 or tas return, or the difference between pre-meditated “intent” to defraud as opposed to an estimate or expectation of monthly gross income. Your only problem Casey is, that you continually talk about “shady loans” etc on this blog, and THAT can come back to hurt you, because you are in essence admitting some kind of guilt to something, which I think was done out of ignorance. Although most of us realize that this is done for pure publicity and book sales, because lets face it, without the “shady loan” talk, this blog would not be interesting. Look the other day you posted some song, and got like 60 comments, but talk about shady loans and you get 200……But be careful, you dont want to be that much under the microscope because big brother just may decide to make an example out of you. Just my 2 cents.
July 23rd, 2007 at 1:42 pm
More spellchcke™ time
I WROTE: “Consider my intent for a moment and my actions AFTER getting those 100% loans and cash-back.”
CORRECTED: My intention was too™ get as rich as fast as possible. Screw the rules. All of my Gurus were saying “just doit™”, the end justifies the means. Ride the wve. Prices only go up (don’t be forever priced out™) and interest rates always go down, so you can refi your way out of anything.”
I WROTE: “1) I was told by gurus that to make lots of money is to buy a house from distressed owner, fix it up and flip it for some sweet cash.”
CORRECTED: Pay whatever it takes™ to by™ the first ‘for sale sign’ you see. Research is for wimps. Take the profit up front.
I WROTE: “2) I was told to use a mortgage broker (and sometimes real estate agents) to find deals and get financing. I was shown how to get cash-back at close. ”
CORRECTED: Use my guy. He knows how to gt around the rules. He can “modify” your paperwork so the underwrites will never know. He’ll even front load your checking account. Leverage is sweet™.
I WROTE: “3) I do that exact thing and tell my mortgage broker what I’m trying to do and tell my realtor (on the few properties where I used a realtor) what i’m trying to do”
CORRECTED: Don’t bore me with details. Just show me wear™ to sign. You guys get paid to clothes™ the deal, right? Then get it clothed™.
I WROTE: “4) they show me what I need to do to get it done and find me the right type of financing. In all the cases the loan applications where filled out for me since they knew better what to state, to make it fly, etc…”
CORRECTED: They said “sign here”. We’ll do the work and we’ll all get rich. I just had to come in when they said they had the forms ready and sign. It was all so easy. Why should I pay attention?
I WROTE: “5) I do my deals, do the loans, get the cash, put it all into the houses and make a bunch of mistakes in the process.”
CORRECTED: I was doing deals like a drunken sailor. I never once looked at what I was signing and on a couple of occaisions never even look at the real estate. I was just afraid of being priced out forever™.
I WROTE: “6) I continue doing the only thing I know how at this point to get out of this mess - buy more houses with cash back at close to float the previous houses. My goal is still to finish the rehabs, sell them and pay everybody off.”
CORRECTED: Once i realized that the banks wanted me to pay them back, I was, like, in total panic mode. I had alread spent my enormous profits at Jmaba Juice™ and Macaroni Grill™. It was so ovewhelming. I figured that if I just bought enough houses, maybe I could create a housing shortage and charge whatever I wanted and then I would have enough money to pay back every dirty penny™. I am pretty sure that one of my Guru’s said that on a traditional deed-of-trust, you could invoke a 180 day cooling off period with no payments. That’s what I am hoping my newest elements of my highly trained network of professionals™ will uncover.
I WROTE: “7) Out of desperation, I buy too many houses, lack of construction experiences causes me spend A TON more money then I planned on and having to manage all these rehabs long-distance get really challenging.”
CORRECTED: Since I was in full-on panic mode, I did the only thing I felt completely in control of: show up and sign more documents. Little did I know they were purchase contracts and loans (what a lesson!). Then I realised™ I had yet to open my crrespondense™ course on getting a contractor’s license and I would have to actually go to all of those far-away and exotic locations where I bought houses, I was mortified.
I WROTE: “8) So I run out of cash after only having sold 2 houses. I realized i’m screwed as I run out of any other sources of money. I took out more credit lines to finance this whole thing hoping I can make it somehow. But now everything is tapped out and i’m really screwed.”
It finally dawned on me after I was getting $37.50 coffees™ that I needed money and the only way was to actually sell the houses (I previously thought I could just do some cash-back re-fi’s). What a sobering experience that was.
I WROTE: “9) I feel embarrassed at first at this failure, but then get over it and realize there is a great story to be told here. Both to try to get me out of this mess and also to help others.”
I was so embarrased that I didn’t want anybody in the whole wide world to have an inkling about what was happening. Secrecy was the order of the day™. But then I thought ‘this is America. There’s a bailout for everybode who does bad things but had good intentions™ or didn’t understand what the people wo were ruthlessly taking advantage™ were doing. Plus, once I got my bailout, I could charge others a fee™ to help them™. Sweet™
I WROTE: “10) I start www.IamFacingForeclosure.com last September and now we’re all here.”
CORRETED: I blather my story to a reporter and suddenly I realize that I might get more sympathy if I put it on the internet.
Like I said befour™, I really empathinse with Paris Hilton™. But she fell forward with her story. Now she want to be BFF’s with Victoria Beckham. Maybe when this whole crazy™ ride is over, I can be BFF’s with someone famous to™. I am just glad that I still have my drivers license so I can be instantly mobile to seize any opportunities that are presented to me™.
I have th eunique ability to spot them right away. Even Walt Disney failed forward™ in 1923, and look where he is now. No, wait, I mean look where he was before now™. When he was alive, not dead.
I am blessed™.
–TLG™
July 23rd, 2007 at 1:44 pm
#207
Are you *trying* to bait the haterz? Geez man.
First, the bible (for those that believe in it) says that you shouldn’t tempt people, which you have been doing by putting your dirty laundry on the ‘net. It also says it should honor and cherish the person you committed to. Have you been doing that?
#208
1. Did you ever actually fix a house? Seems to me you couldn’t be bothered to remove the trash from one of your properties, let alone actually put elbow grease into anything.
3. Did you actually tell your mortgage broker/realtor that this is the Xth property that you’re attempting to purchase in the last Y days? Didn’t you tell us you bought so many properties so close together so that it wouldn’t show up on your credit report?
4. If every one of the realtors thought you were attempting to purchase one house, and only one house, *maybe* the owner occupied crap would have flown. In fact, it probably would. But, did you tell them that you were on your 8th house in four months?
6. You didn’t know how to stop?
7. What did you actually spend money on? How easy did you think it was going to be, managing 8 rehabs at once?
9. The story was only worth telling if you ever turned it around. Or even TRIED to turn it around. Have you paid any money towards any of your debt, other than Hammar?
We no longer gather ’round to watch you succeed. We gather here together to watch you make a fool out of yourself. Like Howard Stern in the old days, we come to see what Casey Serin will do next to screw his life up.
July 23rd, 2007 at 1:46 pm
Casey,
You’re turning these people into a lynch mob. Is that your intention or do you honestly not see how you’re coming off? This reminds me of when you came back from Oz and acted surprised that you weren’t welcome home.
You need to shut this thing down NOW or you’re gonna be buried by it. Don’t say no one warned you.
July 23rd, 2007 at 1:46 pm
What’s the saying?:
People who live in glass houses shouldn’t throw stones.
Stacey - You knowingly committed fraud in these applications. If you sue, you’re likely to face counter-suits for fraud and misrepresentation.
July 23rd, 2007 at 1:47 pm
I have never lied when it comes to paperwork and application involving money.
I have never lied when I signed a form that said “Under penalty of Perjury…” because lying and committing perjury is a stupid.
You knew FULL well you were not occupying those homes. YOU LIED.
You knew FULL well your income wasn’t that high.
YOU LIED.
You have YET to take any responsibility for your actions
Here’s your story Casey:
I thought I could make a fast buck so I did what I had to do to make a fast buck. I failed, and now that I failed what I did is exposed as being illegal and I really don’t want to go to jail so I have to blame someone else for this instead of BEING A MAN and owning up to YOUR MISTAKES.
Geebus. Didn’t Jerome Mayne own up to his? Didn’t you have him on one of your TalkCasts?
INTENT doesn’t matter from a legal standpoint. It may matter in sentencing, but INTENT doesn’t excuse your guilt. Fraud is fraud, plain and simple.
You obfuscate your loan applications because you do not want to show your falsely inflated income, nor that you intended to owner occupy 7/8 homes. These are false statements that you yourself knew full well were lies.
You know what’s disgusting? Hiding behind the Bible. But since you like the Bible, how’s about the 10 commandments. Isn’t one of them.
Thou Shall Not Lie?
You are making excuses. Stop it. Start acting like a man instead of a wuss. You’re afraid of the consequences of your actions. If the end is coming, why not stand up and face it like a man, instead of whimpering in the corner.
You tick me off.
Eat your dern crow
July 23rd, 2007 at 1:54 pm
Do you walk around all day with a “KICK ME” sticker on your butt?
From day one until now you you have attracted the lowest low-life scum and fallen for thier pitches (birds of a feather?). Your “truth in lending” EXPERTS are no doubt just like these lovely folks:
http://www.alta.org/indynews/news.cfm?newsID=2511
Hey Timeline Guy (my hero) put these guys on the list of Casey”s Team of Professional Advisors.
July 23rd, 2007 at 1:54 pm
IAFF, October 4th 2006: Yes, I Lied on My Loans!:
“No more lying to cover up old lies”, indeed.
July 23rd, 2007 at 1:55 pm
5) I do my deals, do the loans, get the cash, put it all into the houses and make a bunch of mistakes in the process.
No, Casey. They weren’t mistakes. They were LIES. Deliberate, calculated lies. You lied on the forms themselves, and you compounded those lies by submitting multiple forms to different lenders at the same time. Mistakes are honest. Lies aren’t.
9) I feel embarrassed at first at this failure, but then get over it and realize there is a great story to be told here. Both to try to get me out of this mess and also to help others.
There was a great story. It goes along the lines of: guy falls into deep financial hole, but makes a genuine and honest effort at climbing out, by cutting his expenses to the bone getting two or three jobs and working every hour God sends to pay off his debts. He blogs about these activities, and the overwhelmingly supportive comments keep him afloat during the darkest moments.
As a result, while he hasn’t managed to pay his debts off just yet, he’s well on the way, and he’s negotiated reasonable terms with his lenders - he got a sympathetic hearing because throughout the process he kept in touch with them constantly, responded promptly to their mail and phone calls, and generally showed humility and contrition throughout, especially to his wife and family.
So not only did he better his own life, but he became a genuine inspiration for others, and his book, ‘Facing Down Foreclosure’, became a runaway bestseller - and the movie rights will probably pay off the last remaining debts.
As you say, a great story. But unfortunately, it didn’t quite pan out like that - any guesses as to why it didn’t? (Clue: it had nothing to do with the “haters” - they’re a by-product, not a cause)
I’ve always been under the believe that its better to take responsibility, even if its not completely my fault.
Yes, but you don’t, do you? Remember when you said that failing to submit that CashCall form on time was “probably mostly” your fault? Actually, it was entirely your fault - but if you couldn’t even admit that, how can you tell us with a straight face that you take responsibility for anything else?
Quite aside from anything else, this whole thread is a gigantic attempt at dodging responsibility!
Because now everybody thinks i’m a “scammer” a “fraudster” a “criminal” etc…
“Scammer” - one who deliberately submits multiple application forms in an attempt to fool lenders into authorizing more loans than the applicant is entitled to.
“Fraudster” - one who deliberately and knowingly supplies false information with the intent of obtaining large sums of money.
“Criminal” - either of the above.
Given these evidence-backed facts, can you explain why you’re NOT a scammer, fraudster and criminal?
July 23rd, 2007 at 2:00 pm
I can’t believe that you have a criminal defense attorney. You do remember you told me that you has a defense attorney that had called the FBI and confirmed that you were being investigated?
Why would any defense attorney allow you to keep blogging? They wouldn’t…..
So now are you saying you were part of a conspiracy to commit mortgage fraud? Are you now admitting that you were purchasing the later homes and getting cash back at closing with the intent to divert THAT money to previous properties?
Keep racking them up.
My favorite part is that you won’t admit responsibility, which should keep you from having at least 2, and maybe 3 levels of sentencing guidlines taken off when it comes time for the judge to lay down your sweet vacation length.
July 23rd, 2007 at 2:01 pm
Casey,
Okay. So now you are admitting to running a Ponzi scheme, taking cash out on subsequent home purchase transactions to fix and flip prior ones. I don’t believe I’ve ever heard of an accidental Ponzi scheme before.
Now you want your lenders to forgive your debt because you didn’t know you wouldn’t make enough sweet passive income on your Ponzi scheme to pay it off. I can’t imagine that that won’t work out for you.
July 23rd, 2007 at 2:11 pm
You are really opening a pandora’s box here.
Sometimes I wonder if you actually WANT to go to jail. You know the haterz are going to keep nagging the FBI to take action. At some point the path of least resistance will be for them to prosecute rather than continue to put up with the nagging.
Smarter would have been to shred those loan docs, and if anyone ever asked you about them, you have amnesia.
July 23rd, 2007 at 2:14 pm
I’ve fudged dates on a resume. I never later complained that the employer was predatory.
That sounds pretty much like the same story you’ve been telling, except I don’t think you’ve said “they” filled out the forms for you before. In fact I think you’ve said you came up with the figures by taking what you made on one deal and extrapolating. So which is it?
“They” may have filled out the forms (let’s play along), but you read them and signed them. I do believe that you didn’t understand the gravity of your lie; if you had, you wouldn’t have admitted to so much here. I also know you were far from the only one to pull this scam and, yes, mortgage brokers were in on it. I hope you can take a few of them down with you.
But it all would’ve been water under the bridge if you’d have shut the blog down then and there, when you found out it was a felony. What got people so irate was you “thumbing your nose” at law enforcement.
Really, Casey, what did you expect when you thought about this post? I’d really like to know what sort of comments you expected.
July 23rd, 2007 at 2:19 pm
Casey, you ARE a scammer, fraudster, and criminal. The fact that you think it is perfectly normal to lie on applications, resumes, and tax returns shows how out of touch with reality you are.
And learn to spell and use the correct word.
“I must of hit a sensitive area…”
“…lack of construction experiences causes me…”
“…more money then I planned…”
“…having to manage all these rehabs long-distance get really challenging.”
“I’ve always been under the believe…”
July 23rd, 2007 at 2:19 pm
Everyone thinks you are a “scammer, fraudster, and criminal…”
because that is EXACTLY WHAT YOU ARE.
July 23rd, 2007 at 2:25 pm
Casey,
You sound more like you are focusing on your legal defense now more than anything else.
BB
July 23rd, 2007 at 2:25 pm
spin spin sugar
July 23rd, 2007 at 2:25 pm
You are so full of crap.
Let me explain what your business plan was:
* Purchase property with no money down.
* Find a sucker willing to pay even more than you did to purchase the house.
* Walk away with a profit.
* Repeat steps 1-3 forever.
That was your entire business plan. Not to renovate, not to work, just try to find a greater fool time after time after time.
Well, guess what - you were the greatest fool. Everybody that sold their house to you, made money and now you’re on the hook for it.
People ripped you off, but you were planning on doing the same exact thing. Boohoo for you, oh cry.
July 23rd, 2007 at 2:27 pm
This is exactly what made me get out of the mortgage brokering business. Casey, own up to what you did, and leave everyone else out of it!!
July 23rd, 2007 at 2:36 pm
Ya know what else that cat Jesus said? “Let your ‘Yes’ mean ‘Yes’ and your ‘No’ mean ‘No.’” Go look it up, it’s in there. I sure ain’t gonna link it for you.
Do you see how that applies to–oh I don’t know–knowingly listing made up numbers on mortgage applications and signing them, not repaying your lenders and just being honest in your personal, familial and business life?
But what does that Jebus guy know anyway. He was a just a carpenter, not a millionaire. Surround yourself with better mentors and not loosers like him.
July 23rd, 2007 at 2:40 pm
> Those without sin let them throw the first rock. (or
> something like that… paraphrasing)
I don’t believe in magical fairy in the sky that watches over all of us like pets. I also don’t believe in Santa Claus or Bigfoot.
> In other words, tell me which one of you have NEVER
> overstated ANYTHING (including little things) on ANY
> application or resume or tax return or whatever
I have never ever over-estimated anything on my resume. All it does it put you into a job that you’re not qualified for and which you eventually fail out. I have enough skills and there are enough jobs that I can find a match over time. If you lie on a resume, you’re wasting not only your employer’s time, but your time.
I’ve never overstated anything on a tax return, although I’m frequently tempted to understate somethings. The government is a mafia, not a parent. You lie to them, they put cement shoes on you and screw you 6 ways from Sunday. They already have records of all your transactions anyhow.
July 23rd, 2007 at 2:44 pm
Casey,
Wow, so it was all the fault of the gurus, brokers, realtors, and others? Who would have known?
It was never your idea to lie on your loan applications? or to quickly buy a lot of houses in order for the loans not to appear on your credit report? (oops, you admitted yourself that this is what you were doing).
You might want to remove this old post of yours from the blog, where you admit that all the lying was your own:
http://iamfacingforeclosure.co.....n-my-loans
PM
July 23rd, 2007 at 2:46 pm
“I was told by …”
You are a grown man dammit! Stop making excuses!
If someone told you to jump off a cliff would you? I am sure your mother told you stuff like this when you were a kid, but you are an adult now! Stop pretending that you are the victim here!
Just until recently, I was fairly neutral towards you - not a supporter nor a hater. Now I am joining the haterz club..
July 23rd, 2007 at 2:48 pm
Criminal behavior is based on BEHAVIOR - not intentions. You are a fraudster. You did commit mortgage fraud. Whether or not anyone else in the world is guilty o anything - whether or not anyone you’ve been involved with is guilty of anything - you commited mortgage fraud.
No one else’s behavior absolves you of that. No one’s intentions (not yours, not anyone else’s) absolves you of that.
Re-name it, minimize it, claim everyone else is doing it, claim you only did what you were told to do - weasel out of it anyway you want, you committed mortgage fraud.
You may or may not ever face the legal consequences of your actions, but you committed mortgage fraud.
You may or may not face social/interpersonal/financial/ emotional consequences of it - but you committed mortgage fraud.
No matter what else you ever do, or have ever done - you committed mortgage fraud.
You may someday be nominated “Person of the Year”, win a Nobel Peace Prize, find a cure fo AIDS - but you have still committed mortgage fraud.
You cannot change that, you cannot make it be not true, you cannot convince anyone but yourself that you didn’t - but you did commit mortgage fraud.
July 23rd, 2007 at 2:52 pm
HAHAHAHAHAHA, Casey quoting (or rather, “paraphrasing”) the Bible on us. HAHAHAHAHAHA.
July 23rd, 2007 at 2:53 pm
Thanks for the explanation Casey.
Even with your explanation, it just isn’t going to fly with the FBI.
You took a huge risk.
Whether you can pay the lender back or not (good intention or bad intention), fraud is fraud.
This is neither hate or support. It’s just a fact.
July 23rd, 2007 at 2:58 pm
Wow,
I hope your comment moderators understand just how dangerous “after the fact” can be. When deposition time arrives, everybody’s names come out.
July 23rd, 2007 at 3:10 pm
#208- Casey, don’t go twisting John 8 for your own self righteousness. That passage has nothing to do with a human having to be completely free of sin to righteously judge. The Pharisees brought Jesus a woman caught in the very act of adultery and asked if she should be stoned. Jesus knew darn good and well that the Torah (which He gave them) said that the man and the woman should be stoned, and the text is apparent that the man was not present. They were breaking their own law in that regard. That passage has nothing to do with any of our qualifications to “judge” your situation which you have put out on the internet before us.
Disagreement with you is not hate. You seem to think that anybody who doesn’t just tell you what you want to hear is a “hater”. That is not the case. Like many others, I once wanted to see everything resolve itself for you to have a happy ending, but after watching you for so many months work against yourself in every possible way, I am completely mystified as to what exactly you’re doing. One thing I can say for sure: money, “success”, “sweet deals”, “sweet passive income” have become your gods. Exodus 20 tells you plain and clear “You shall have no other gods before me. You shall not bow down to any graven image”.
I’d love to see this all work out for you, Casey, but seriously dude you need to take a step back and look at yourself objectively. I don’t know if you’re bipolar, ADHD, or just plain brainwashed through the tens of thousands of dollars you’ve blown on guru material, but you need to find an objective counselor.
July 23rd, 2007 at 3:11 pm
#208 - 3,4
Your real estate agents and lenders filled out your applications for you because they knew better what to state to ‘make it fly’.
Seriously?
When the properties closed escrow, did you sign the documents then or did someone do the signing for you? At some point in the process you were involved.
July 23rd, 2007 at 3:14 pm
From this very blog less than a year ago (I’m betting I’ll not be alone in digging this up)
October 4th, 2006 8:20 am
Yes, I Lied on My Loans!
No more excuses! It’s true. I lied on my loans.
I overstated my income, and misrepresented my owner-occupied status and concealed the cash-back-at-close from the bank. I knew it all along. Nobody made me do it. It was my fault. I take full responsibility. And, that’s how I originally started this blog.
Soooooo busted.
When casey’s in prison I’m sure there’ll be new gurus, other ‘professionals’ if you will, who fill him in on new and exciting ways of making sweet cash in other 100% gray areas.
5yrs from now…. ‘but but when I robbed the old lady for her purse I was only following the advice of knuckles and clobber… they’re the reeeeal criminals.’
Shine on you crazy diamond.
July 23rd, 2007 at 3:17 pm
(hand up)
Casey, I, for one, have never lied on a resume, an application, my taxes, or under oath. In fact, I’d be willing to take an oath right now that every document I have ever signed my name to is 100% true and accurate to the extent of my ability to make it accurate.
Judging from my experience, I’m not all that uncommon. “everyone’s doing it” just doesn’t cut it. At least not for those of us raised to believe in honor, duty, and truth.
July 23rd, 2007 at 3:20 pm
Wait a minute here. I thought it wasn’t your fault. “They told me gray area”, and all that. “Truth in Lending! I am wronged!”
Now you have sinned? But it’s OK because other people have sinned too?
That’s quite a leap. In the span of a few hours between your post and your comment.
Anyway, the “let he who is without sin cast the first stone” story is apocryphal. It is in none of the early copies of the Book of John, and its language is noticeably and significantly different from that of the rest of the Book of John - even from those portions immediately preceding and following it.
Someone, many years after the Book of John was written, made it up and stuck it in.
link
July 23rd, 2007 at 3:21 pm
Those without sin let them throw the first rock. (or something like that… paraphrasing)
Oh, please! I could get into the great sermons I’ve heard on this topic, but I’ll just get it the meat of why Christians who have actually studied/learned about this get mad.
Jesus spoke this line to people who are getting ready to stone a girl to death who was caught in the act (sex) with a man. Many scholars believe that this was a trap for Jesus, and they used this woman, who may have been an unmarried girl, hence 9-13 years old at that time. They believe that she may have been seduced by some man and then they dragged her out there (bringing up the possibility of some state of undress). Also, if they were following Jewish law, the man was supposed to be there too to be stoned. Hence, if it was a trap, most to all could see it as those men were more guilty than the girl and therefore had no RIGHT to demand her death. Also, at the end of the story, Jesus doesn’t condone her actions and tells her to sin no more.
Are you listening Casey?
July 23rd, 2007 at 3:22 pm
Casey,
I really hope that in your post 208 you are only trying to sound stupid in order to create some evidence for an insanity defense in your upcoming criminal trial. Otherwise it only makes you look like the biggest idiot on earth.
1) You were told to buy from distressed owners. It does not matter how distressed an owner is: if your purchase price is too high and your costs are high too, you will lose money on the deal.
2) You were shown how to get cash back at close. You were also shown how to hide it from the lender, didn’t you? because you damn well know the lenders would not have gone for these loans otherwise.
3) You told your broker and your realtor how you were supposed to be getting rich with these deals. And yet they didn’t deliver to you deals to make you rich? How dare they! Brokers and agents make money when you make a deal, any deal, regardless of how much money you lose or make out of it.
4) contracts filled out for you? did you bother to read them? I know, I know - you are not a “details” guy.
5) You “do the deals”? I thought all the deals were put together for you …
6) You continue doing the only thing you know how to do: commit mortgage fraud in order to buy houses you could not possibly sell at a profit after all your costs are factored in.
7) Free advice: when you are in a hole, stop digging.
8) You look for more people to scam and there are no takers.
9) A “great story to be told”? We are all waiting to hear it.
PM
July 23rd, 2007 at 3:24 pm
So according to your logic, if I were to slip you 50-100 hits of LSD with the INTENT to open your mind, and you ended up going stark raving mad, I shouldn’t get in any trouble?
Interesting.
July 23rd, 2007 at 3:25 pm
Casey, please to explain:
“October 4th, 2006 8:20 am
Yes, I Lied on My Loans!
No more excuses! It’s true. I lied on my loans.
I overstated my income, and misrepresented my owner-occupied status and concealed the cash-back-at-close from the bank. I knew it all along. Nobody made me do it. It was my fault. I take full responsibility. And, that’s how I originally started this blog.
But then… I started to spin it.
First I though I will be some kind of “whistle blower” - exposing the industry, bad real estate gurus, etc. I then realized how stupid that was - I have no expertise or credibility to expose anything. I am guilty myself.
Second, I tried blaming the banks. They made these loans so easy to get, so it’s their fault. WRONG! Easy or not, a lie is a lie! I am guilty and should not try to weasel out of it.
That was WRONG and STUPID.
I want to apologize to all my friends, associates and readers of this blog.
What started as an honest attempt to write about my situation turned into a spinning act and subtle blame shifting.
I even went back and edited some of my earlier posts to make myself sound better. I am truly sorry I let myself fall into that. I will be restoring my posts to the original version later today or tomorrow.
[UPDATE: I restored my first post and added some good detail. That’s where I first mentioned “liar loans”. Check it out: Why I am Facing Foreclosure. ]
Now what??
No more lying to cover up old lies.
No more blaming - I did it
No more spinning and trying to make myself look better
I take full responsibility
I will pay whatever price I must
I will do whatever I must do to MAKE IT RIGHT!
And… No More Ads!. I need to cover my hosting bill, so I can stay online and help more people with my story.
So… I lied on my loans. I got over-extended. I am facing foreclosure. The lenders stand to lose hundreds of thousands of dollars over my mistakes. My questions to you is….
What can I do to make it right? “
July 23rd, 2007 at 3:25 pm
Message 216 summarizes the situation really well. I do not believe that you are a crook and a fraudster in the sense of being morally corrupt and actually trying to steal, cheat, take advantage of people and not paying back your debt. It is just that, even though you may have been led by others into signing some loan applications and contracts, the law holds you responsible, because you are legally adult and you did sign them after all.
And what I was saying about being accused of fraud or sent to prison does not mean that I think that you deserve that. As a matter of fact, if that happened to you, I would feel bad, because you seem to be a kind, well-intentioned person. But the fact is that it could happen.
Or, who are the alleged victims of your activities? Your lenders. So of course you should not sue them or otherwise upset them. Regardless of how little you may deserve any further trouble, the fact is that the banks could have created legal problems for you and that if they did not, it is not in your interest to do anything that would make them want to do so. And don’t forget that, just like in the case of the guy who went to jail for spending money that was given to him, what is fair or what happened to others in a similar situation (who merely had to pay) does not mean that in your particular case, the price you will have to pay for your activities won’t be unfair or too high. It can be too high, too low, or you may not even get sued or prosecuted, but that’s not because, morally speaking, you deserve it more (or less), or because you are or are not a crook.
July 23rd, 2007 at 3:27 pm
Thanks for the money suckers…Keep up the good support and the time will come when you join the other side…Hahahahahaha. And now I think we’re gonna need another round of donations as we see Casey throw all the Brokers, Agents and Gurus under the bus too. Gonna be more court appearances to fund…FEED ME!!!!!!!
July 23rd, 2007 at 3:28 pm
It’s laughable how concerned (obsessed) people are about the FBI contacting Casey!
Casey may have a case with his predatory lending idea because
predatory lending forces borrowers to pay exorbitant loan origination/settlement fees, sub-prime or higher interest rates and in some cases, unreasonable service fees.
10.9% (in the picture above) would be a good example of that! But the FBI is focusing its efforts on those perpetrated by industry insiders.
I would say Casey is far from being an industry insider…
July 23rd, 2007 at 3:29 pm
Casey, they made you do it! I know it.
You are sinless and it’s all good and Sweet.
But you must come back into the force young Serin. You need to borrow more money, think Papa Serin, think Papa Casey.
Set a time-table of 1 flip per week. You can do it Casey.
July 23rd, 2007 at 3:31 pm
All?
Well, all except the $30K you used to pay off your credit card debt. And the rest of the seminars. And your living and travel expenses. And that trip to Hawaii.
July 23rd, 2007 at 3:35 pm
“In other words, tell me which one of you have NEVER overstated ANYTHING (including little things) on ANY application or resume or tax return or whatever.”
I never have, never needed to, and never will. Most people haven’t Casey, not sure where you would have gotten that idea. To most people, lying on these type of things is a taboo.
July 23rd, 2007 at 3:37 pm
Something is definitely wrong with you haterz…. Day after day you write the same…..:
“Casey you are a criminal…..you did commit mortgage fraud….you are a looser….you are an idiot….I hope you go to jail…I hope you will be raped there….you are so full of crap…..”
Casey has read this hundreds of times, it is obvious that he is much bigger than you because he is able to live with the crap you keep repeating.
This tells me that the biggest losers are you Haterz. How lonely you must be! Get a life, go out for a walk or whatever, you pitiful creatures!
July 23rd, 2007 at 3:38 pm
Hey Boy…Quit trying to fight the law and waste time and energy taking others down with you…It’s not them I’m waiting for.
July 23rd, 2007 at 3:47 pm
@prancois
that was a totally different Casey! That Casey exhibited remourse and regret. you are talking to the new and improved blaming Casey today. you’ll find that he doesn’t subscribe to those beliefs that he had just 9 short months ago. This Casey likes “sweet cashback” on foreclosures so he plots to sue the lender after they take the property back for non-payment!!!
July 23rd, 2007 at 3:51 pm
Some words of wisdom from a great man:
“October 4th, 2006 8:20 am
Yes, I Lied on My Loans!
No more excuses! It’s true. I lied on my loans.
I overstated my income, and misrepresented my owner-occupied status and concealed the cash-back-at-close from the bank. I knew it all along. Nobody made me do it. It was my fault. I take full responsibility. And, that’s how I originally started this blog.
But then… I started to spin it.
First I though I will be some kind of “whistle blower” - exposing the industry, bad real estate gurus, etc. I then realized how stupid that was - I have no expertise or credibility to expose anything. I am guilty myself.
Second, I tried blaming the banks. They made these loans so easy to get, so it’s their fault. WRONG! Easy or not, a lie is a lie! I am guilty and should not try to weasel out of it.
That was WRONG and STUPID.”
Yes, I think we could learn a lot from his words, whoever he may be.
July 23rd, 2007 at 3:57 pm
Seriously, people need to take a step back and chill. How long are people going to hold on to this misdirected anger toward casey.
.
Granted Casey got way in over his head and is really naive. He will working these mistakes off for a good long time… But to keep having this righteous indignation… seriously folks, some of you need to learn some other outlet to let go of the anger.
.
Truth is Casey was a product of an out of control mortgage lending industry. There is no reason he should have been approved for ANY loan. But there were too many greedy mortgage brokers who were all too ready to overlook really fishy financial situations. But a lot of people here need to settle down.
.
Keep your head up casey… learn to let go of the marriage (it is dead) and keep going with the blogging… you have great potential with this site… dont lose it through waffling.
July 23rd, 2007 at 4:04 pm
Casey,
Read what you signed. I guarantee you it contains verbiage just like what I’ve extracted from the following loan app:
https://www.efanniemae.com/sf/formsdocs/forms/pdf/sellingtrans/1003.pdf
Each of the undersigned specifically represents to Lender and to Lender’s actual or potential agents, brokers, processors, attorneys, insurers, servicers, successors and assigns and agrees and acknowledges that: (1) the information provided in this application is true and correct as of the date set forth opposite my signature and that any intentional or negligent misrepresentation of this information contained in this application may result in civil liability, including monetary damages, to any person who may suffer any loss due to reliance upon any misrepresentation that I have made on this application, and/or in criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Sec. 1001, et seq.; (2) the loan requested pursuant to this application (the “Loan”) will be secured by a mortgage or deed of trust on the property described in this application; (3) the property will not be used for any illegal or prohibited purpose or use; (4) all statements made in this application are made for the purpose of obtaining a residential mortgage loan; (5) the property will be occupied as indicated in this application; (6) the Lender, its servicers, successors or assigns may retain the original and/or an electronic record of this application, whether or not the Loan is approved; (7) the Lender and its agents, brokers, insurers, servicers, successors, and assigns may continuously rely on the information contained in the application, and I am obligated to amend and/or supplement the information provided in this application if any of the material facts that I have represented herein should change prior to closing of the Loan; (8) in the event that my payments on the Loan become delinquent, the Lender, its servicers, successors or assigns may, in addition to any other rights and remedies that it may have relating to such delinquency, report my name and account information to one or more consumer reporting agencies; (9) ownership of the Loan and/or administration of the Loan account may be transferred with such notice as may be required by law; (10) neither Lender nor its agents, brokers, insurers, servicers, successors or assigns has made any representation or warranty, express or implied, to me regarding the property or the condition or value of the property; and (11) my transmission of this application as an “electronic record” containing my “electronic signature,” as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or my facsimile transmission of this application containing a facsimile of my signature, shall be as effective, enforceable and valid as if a paper version of this application were delivered containing my original written signature.
July 23rd, 2007 at 4:14 pm
Casey,
I agree with you. You had a dream, a vision, you followed it, and you figured out that everyone in the process was helping you get in over your head.
However, you never did take any advice from anyone that would try to give you a warning or two.
What’s your game plan?
What are these fools charging you for this?
July 23rd, 2007 at 4:17 pm
Wow, Casey.
I sure am glad those people didn’t choose ME to take advantage of the way they did you. Were you even told you were buying houses?
I guess I need to check my credit card statements and make sure someone isn’t running up debt in my name on those, too.
And, how did CashCall get ya? Did they slip you a mickey? Threaten your loved ones? Get your wife to sign something when you weren’t looking (that would especially suck!)? Was the MOB involved?!??!
Can’t wait to hear the rest of the ‘real story,’ cause now you have me scared.
As for myself - close call, I guess! Amazing to hear how all of your misfortune could have befallen any one of us.
(BTW - let me know next time your flying international…I have some packages I need hand-transported overseas)
July 23rd, 2007 at 4:18 pm
If you had gone to college, you would have learned that Ponzi schemes always fail after the bubble crests.
July 23rd, 2007 at 4:28 pm
Another commandment:
Those who live in glass houses, shall not throw stones.
Stacey - You committed fraud!
You should be lying low, not trying to invite lawsuits against you for your frauds.
July 23rd, 2007 at 4:29 pm
Is Cash Back At Close Wrong or Illegal?
Casey-below is one of your own posts from back in September 06. Right there you state that more than one person told you that it was ILLEGAL.. So what is your spin now?
When I was doing these cash-back deals I got some mixed advice. Many of the experience investors I associated with and learned from didn’t think there is anything wrong. Most Real Estate gurus out there have courses that show you cash-back at close techniques.
Some of the mortgage brokers said that I can’t do cash back through escrow but if it happens directly with the seller then it might be OK. Other mortgage brokers and real estate agents told me its illegal no matter what.
July 23rd, 2007 at 4:30 pm
So you took someone else’s business plan and didn’t do any research yourself. That is a sure fire way to get into trouble.
July 23rd, 2007 at 4:35 pm
why did you take down the part of the post where you say that the FBI contacted you?
July 23rd, 2007 at 4:39 pm
@YouGottaBeKiddingMe
I happen to disagree with you on a technicality. This by no means that I think Casey is free in clear. In fact, read on, I think I’ll show the opposite. But let me address specifically what you said.
In order for something to be criminal, there has to be both an intent and a behavior. Take a look at the following: Mens Rea. This concept, completely translated out from latin takes on the following meaning: “the act does not make a person guilty unless the mind is also guilty”
Now, that said, this does not allow a behavior to be justified by a positive intent. Everyone does it does not excuse intent, there was still an intent to do the act. Not knowing something is illegal does not excuse it either, the person still intended the action and carried it out. Being told it is okay doesn’t excuse it, the person still indended the action and carried it out.
But, absent intention, the behavior alone is not a crime. So if I accidentally knock a box of rat poison off the shelf and some spills into a boal of oatmeal I have prepared for myself just before it falls and lands on my foot. I curse and run to the bathroom to put a bandage on my bleeding foot and someone else walks in and takes a few bites of my boal of oatmeal and dies. There is not a crime of murder here because there was no intent to kill someone. Negligence perhaps if I left the bowl there and should have known someone might eat it, but definitely not murder.
So, in Casey’s situation, is there intent? Even though he didn’t write in the number, he knew a number was being written in that was not accurate and signed it. Sounds like intent to me. So I’m not disagreeing with you on the legality of his actions, but let’s be correct in our explanation.
Absent intent, the behavior alone is NOT criminal.
July 23rd, 2007 at 4:42 pm
“In other words, tell me which one of you have NEVER overstated ANYTHING (including little things) on ANY application or resume or tax return or whatever.”
Have you ever taken an honesty test? They work under this simple rule: People who are dishonest think other people are dishonest too. It’s amazing how accurate they can be.
To answer your question, I have never in my life “overstated”, or, to put it more accurately, lied on an application, resume or tax return.
You see, I don’t need to. My income is sufficient that I don’t need liar’s loans to buy my home. I don’t buy extra houses and say I’m going to live there when I’m not. I don’t lie to future employers; I’d rather get hired on the skills I’ve developed in my loser W2 life.
And I sure as hell never lie on my tax returns because I really don’t like the idea of Federal prison.
July 23rd, 2007 at 4:46 pm
In other words, tell me which one of you have NEVER overstated ANYTHING (including little things) on ANY application or resume or tax return or whatever.
I have never overstated anything on any application, resume, tax return, or whatever. If anything, I’m guilty of understating, because I won’t declare a deduction on my taxes if I don’t have the receipts to back it up and I’m not always good at keeping them.
Casey, the fact that you think that “everyone does it” is one of the biggest parts of the problem here.
Oh, and how do you jibe today’s comment with your post on October 4, 2006, “Yes, I Lied on My Loans“?
July 23rd, 2007 at 4:58 pm
So is this an example of wasting the court’s time and costing us tax payer more money?
July 23rd, 2007 at 5:00 pm
Casey Serin, today:
Will I Go to Jail for Mortgage Fraud?, IAFF, September 24th 2006:
Which is it going to be, lie-boi?
July 23rd, 2007 at 5:04 pm
okay, for one thing:
most people don’t lie on loan documents. Most people don’t lie on applications, most people don’t lie on their resumes. Because most people understand that lying is wrong.
It doesn’t matter whether you get caught or not. It doesn’t matter whether or not the other person was doing something bad as well. If I cheat in a game, and the other person was cheating as well, it doesn’t remove or change the fact that I was cheating. You did something wrong. No amount of spin, no amount of backpedalling, and no amount of finger pointing is going to change that.
July 23rd, 2007 at 5:05 pm
You didn’t get 100% financing. You got 125% financing by deceiving the lender, allowing you to stick large amounts of cash into your pocket. Forget that lame, “I used the cash to rehab the properties” bit. You are only fooling the fools with that statement, and it is not the fools you need to worry about.
There is little doubt but that you had accomplices who helped you pull off these scams, be it agents, mortgage brokers (not lenders), and/or appraisers. At least 8 months ago I asked you to post the appraisals online, so that we could see how the system was thwarted, allowing you to get away with this fraud. You never responded, nor did you ever post the appraisals, for the obvious reasons. You didn’t want to reveal the mechanism by which you deceived the lender.
So now, instead of attempting to go after a possibly defrauded lender, why don’t you consider going after those that likely allowed you to perpetrate the fraud? You are in a hopeless position, your hide is drying in the sun, so why not post those appraisals so we can all see what really happened?
“Got the guts, punk!”
July 23rd, 2007 at 5:29 pm
you should defineately post the appraisals. keep it real son
July 23rd, 2007 at 5:40 pm
OK, KC hires a lawyer, stands up to MitLoser and apparently now has enough cahonies to tell us it was not his fault… sounds like he is over the ex-wifey and ready for hi comeback…
July 23rd, 2007 at 5:49 pm
Okay
Firsts -its let he without sin cast the first stone.
Second- the forms may have been filled out for you,
but it was up to you to read what you sign.
Third - am sure the realestate or mortgage agent, did
not approaqch you, you approach them with your gret
idea. why did you go to the bank, because you knew your
great ideas wouldn’t of gotten you kick right out of the
bank
Casey, what you should do. is write down the names of all the agents and mortgage agents that you worked with,
the ones that forced you to sign all those forms that were
already fill in.And then sue then, after all they made you
do it.
July 23rd, 2007 at 5:54 pm
Hmmmmm, looks like the wayback machine came back to haunt you again kiddo. Whoops! So what now? Looks like it’s all coming apart now kiddo. What to do? If I were you I’d hitch to SF and jump the next Green Tortoise to Mexico. Your life is over!
I tried to Spin it…WRONG!
AHAHAHAHAHAHAHA!
July 23rd, 2007 at 5:58 pm
casey,
is it just me, or is casey simply trying to create a paper trail to prove his ignorance/innocence now at the 11th hour? likely suggested by legal counsel
July 23rd, 2007 at 6:15 pm
Casey,
Nobody here has messed up as comprehensively and wantonly as you have. Furthermore, you were given lots of advice, time and time again, yet you chose to ignore it. You did your own thing - borrowing money from your corporation, chasing more “sweet deals”, making stupid agreements and then breaking them immediately, going on frequent holidays to “take a break from the pressure”, throwing people under the bus, gallivanting off to Australia and being photographed playing the fool all up and down the east coast, throwing more people under the bus, and so on.
What you’re getting here now is a collective “We told you so” and “you didn’t learn from your mistakes”.
Now, onto your post #208 …
1. You want to be judged by your intent, not your actions. That’s rubbish. Everybody judges by actions first, and intent second. Your actions were that you lied on the agreements. You broke covenants. If you had _intended_ to pay back your lenders, you would have done so when you had some cash - instead of flying to Australia, for instance.
2. You were told this, you were told that, … that defence won’t fly. You’re in it too deep, lad. You lied on _all 8_ mortgage applications. You’re even on tape lying to CashCall to get a piddling extension on their usurious loan to you.
3. Seriously, your only hope is to plead insanity and hope they send you to an institution or a half-way house.
4. Doing the same thing over and over again and expecting different results is insanity - or at least stupidity.
5. Your story stops at item #10 where you start the blog. But you’ve done lots more crazy stuff since then. Don’t forget to tell your lawyer.
Are you still in regular communication with your lawyer? Or was the $1500 retainer just enough to get out of LMP’s lawsuit? Like people are suggesting, you probably paid $1500 just for the lawyer to tell you to honour the signed settlement agreement.
6. You say people are haterz because they don’t understand how the industry works? How is that relevant? We’re haterz because you screwed up bigtime and then prance around with your murse saying “It’s all good it’s all good” while you continue to try to do shady deals, hurt people and spend a lot of money which isn’t yours.
You have more idiosyncrasies than any other person I know; you must have deliberately cultivated them to build a following. The murse, “looser”, the blue ball, jamba juice, the list goes on and on. Yes, it’s funny. People have made wonderful jokes about that stuff. But you’re not laughing anymore, are you Casey? The laughter has stopped for you. It hasn’t stopped for us.
People are either laughing at you or angry at you. Your supporterz are laughing at you in secret, egging you on to greater heights of stupidity. Your haterz are laughing at you in public, and angry at you in public.
7. And it is completely your fault.
July 23rd, 2007 at 6:17 pm
“In other words, tell me which one of you have NEVER overstated ANYTHING (including little things) on ANY application or resume or tax return or whatever.”
(raises hand) As God is my witness, I have never lied on any mortgage app, resume or tax return.
Most people who read your blog aren’t criminals, Casey.
July 23rd, 2007 at 6:18 pm
I believe it was Casey Serin who said:
“Let he who is without yen cash the first loan.”
No one is buying it, but nice try. Turn yourself in.
July 23rd, 2007 at 6:28 pm
Casey, dude….after reading these blog posts of yours, you are either completely delusional or baiting your readers for the 576th time.
There is not a middle finger long enough in this world to protest against your ridiculous behavior.
And you will post this.
July 23rd, 2007 at 6:34 pm
Casey, you didn’t act alone. The whole mortgage industry is complicit. They ecouraged this sub-prime mortgage mess by looking the other way. There was money to be made wrapping these loans up in pools of CDOs and reselling them and that’s what they did. You’re just one of many caught up in the hype that was ecouraged by the Fed and Bush. Too bad you can’t sue them. I sincerely mean that. The powers that be very much helped to cause this mess we’re all in.
July 23rd, 2007 at 6:52 pm
I forgot to mention … “lender ignore mode” doesn’t sound like the actions of a person who intends to pay back the lenders.
Casey, you’re on record now contradicting yourself about every matter. In court your credibility will be torn to shreds within 5 minutes and nobody will listen to a word you say. In fact, it’s quite likely you won’t be taking the stand at all. Both defence (that’s your side) and prosecution (that’s the other side) will consider it adds nothing to your case. Prosecution because their case is already ROCK HARD. Defence because they know you have the brains of a turnip.
Do they allow prisoners to blog?
July 23rd, 2007 at 7:11 pm
Casey, this post and your comments are pathetic. In this thread alone you’ve been busted on numerous contradictions and lies. You’re circling the drain faster and faster as you get closer to the bottom.
July 23rd, 2007 at 7:25 pm
You might be onto something here Casey. Do you truly wish to stand up for something and try to right some wrongs? Tell us who your real estate agents were and who were your lenders? Companies and actual people you worked with. As an agent I don’t wish to work with these people, nor do I wish for any of my clients to work with them either. Report the re agents to their respective local Realtor Association for their actions.
But I know you won’t do anything because you know that you’re responsible. You’ve continually told us how much smarter you are than any lender or re agent. Or any college graduate.
One thing I don’t recall ever seeing on the blog though, was any kind of business plan, with a list of actual work to be done on the houses, list of potential expenses and timelines for work to be done in. Something more specific than buying Larchmont for $320,000 when it was listed for $289,000, giving me cashback of $31,000.
July 23rd, 2007 at 7:34 pm
The mortgage broker just filled the loan application out for you?
That is ridiculous. The ask the questions over the phone or in person and fill it out on a computer, but the answers and signature were from you.
July 23rd, 2007 at 7:55 pm
In other words, tell me which one of you have NEVER overstated ANYTHING (including little things) on ANY application or resume or tax return or whatever.
Dude.
Only a moron lies on something which is a.) legally binding, or b.) likely to be verified via a background check.
I’m honest on my taxes, I’m honest on my resume, I’m honest on credit and job applications; If I’m signing my name to the veracity of the document–or providing it as proof of ability–I’m being honest on it because you don’t have to be a genius to know that lying is going to wind up poorly. I don’t have to worry about being audited or foreclosed or fired for lying, because I am not a moron.
Seriously, if your best defense is “Everyone does it!” you need to only use it in situations where everyone does, indeed, do it.
July 23rd, 2007 at 8:05 pm
Casey,
Your serious delusions continue.
“Everything was done with good intentions but it sucks how things are turning out.”
What you mean to say, is that everything was done out of extreme greed and ignorance. You were so very greedy that you had to buy 8 houses before you even flipped one successfully. And you were either grossly ignorant or grossly stupid not to have figured out that your formula was yielding losses (instead of profits) some time before you bought property #8. Not to mention how stupid it was for you to hide your head in the sand and hope for the best, when those forclosures started to happen.
Now I see your shock and amazement to be held responsible for your actions. How can they hold you accountable? It was the gurus who told you what to do, the realtors, mortgage brokers, and banks who made it possible, the difficulty of construction that provided challenges too big to overcome, and the damn economy that stubbornly stalled when you needed extraordinary price appreciation to see your plan through. This mix of unforseeable events was like a perfect storm that would have sunk the most capable of investors.
I also love how you continuously “accept” responsibility for your actions. In your case, your acceptance of responsibility ALWAYS goes something like this:
“Of course, I accept responsibility for my actions. But…”
The thing is, you haven’t really accepted responsibility until that statement isn’t followed by a pointing finger.
I am really, really getting sick of this. August 3rd can’t come too soon.
July 23rd, 2007 at 8:09 pm
Can we still deport this guy back to Uzbeki-whatever?
July 23rd, 2007 at 8:21 pm
Casey’s Ten Sweet Commandments
1.) I am your one and only RE guru. I will make you rich $$$.
2.) Do not follow other gurus, for I am the only RE guru.
3.) Do not use my guru name in an unsweet ™ way.
4.) Keep the days of the week that end in letter “y” for relaxation.
5.) Honor your parent’s and corporation’s credit lines, to create a win-win.
6.) Do not make a killing on your transactions – a modest cashback will suffice, which can be used to roll into another sweet purchase, sight unseen.
7.) Do not read contracts, for they are for 9-5 loosers.
8.) Do not pay tax to the man – for you have not the W-2.
9.) Do not lie on contracts – they are mostly gray area, and temporary at best.
10.) Do not foreclose without a short sale, in order to fail forward.
July 23rd, 2007 at 8:24 pm
Hobbit, I want to like you. I really do. Damn you make it tough though. Lets go to my original question…..exactly how would RegZ/TIL errors mitigate mortgage fraud?
Are you honestly trying to say that if only the disclosures had been correctly prepared this all would have worked out? Are you saying if the TIL had an APR of 11 as opposed to 10.875 you wouldn’t have gone through with the deal?
Do you have even the foggiest idea what the difference is (besides an eighth)?
Casey, DO NOT open a pandora’s box you can’t close. Do you really want regulators looking at your dealings…….you really don’t…..
July 23rd, 2007 at 8:51 pm
there are predatory borrowers and predatory lenders; mix them together and guess what happens!
July 23rd, 2007 at 8:54 pm
@238
“So now are you saying you were part of a conspiracy to commit mortgage fraud? Are you now admitting that you were purchasing the later homes and getting cash back at closing with the intent to divert THAT money to previous properties?”
Hell, he’s been saying that all along! Check out the Robert Kiyosaki video (on the “about” page, upper right hand corner) and you can watch (a healthier and less-unraveled) Casey doing it in the flesh!
Or, just read the archives.
Casey, hats off. Your last few posts drew very few comments, so you decided to bait the haters to up your comment counts.
As IF you’re going to sell the domain by August 3. Yeahhh…. Sure.
July 23rd, 2007 at 9:12 pm
I actually felt sorry for the way the haterz treated you until today. For you to actually say that you had no idea what you were doing was illegal or that you could go to jail for it turns my stomach. At this point I hope they lock you up and throw away the key. Part of moving in the right direction in your new life is admitting that you did wrong and learning from it. The haterz were right. The haterz were right.
July 23rd, 2007 at 10:37 pm
i never thought you should go to jail… BEFORE i read this post. the fact that you would try to get out of your mortgage debt and bad record because a lender failed to check a box or something simple like that when YOU flat out lied in substantial measures is appalling and deserves prosecution. You deserve, and I hope you receive jail time.
July 23rd, 2007 at 10:56 pm
Casey,
Have you ever considered taking a Psychology class at community college?
I find that most people who are totally f’d in the head frequently talk about taking Psychology classes…
– Fellow Media S*** (but at least I wear protection)
July 23rd, 2007 at 11:06 pm
Casey, what about protecting us from predatory bloggers? And since you are such a font of wisdom about all things in life, how can I reduce spam to my email account? How can I lose 15 pounds in 3 days? What is the meaning of life, oh altruistic sub-genius?
Mommas, don’t let your sons grow up to be Caseys…
July 23rd, 2007 at 11:31 pm
“When I was doing these cash-back deals I got some mixed advice. Many of the experience investors I associated with and learned from didn’t think there is anything wrong. Most Real Estate gurus out there have courses that show you cash-back at close techniques.
Some of the mortgage brokers said that I can’t do cash back through escrow but if it happens directly with the seller then it might be OK. Other mortgage brokers and real estate agents told me its illegal no matter what.”
Other mortgage brokers and real estate agents told me its illegal no matter what.
“If only ONE person would have told me that anything I’m doing is ILLEGAL or I can go to JAIL for any of my deals or loans, I would have not gone further.”
Other mortgage brokers and real estate agents told me its illegal no matter what.
“If only ONE person would have told me that anything I’m doing is ILLEGAL or I can go to JAIL for any of my deals or loans, I would have not gone further.”
Other mortgage brokers and real estate agents told me its illegal no matter what.
So the problem was that ONE person didn’t tell you it was illegal, many did. You were naturally confused. If it had been only one, instead of several, you would have acted differently. That’s what you’re trying to say, isn’t it?
Isn’t it?
Nice.
asw: flipper
July 23rd, 2007 at 11:34 pm
There you go Casey, now you pissed off Robert Kiyosaki too.
Robert Kiyosaki Unda-Da-Bus too.
Robert helped you committed mortgage fraud.
July 24th, 2007 at 5:01 am
I want to pick up on IAFM’s remarks regarding intent. Yes, imho, too, Casey showed intent in lying in those mortgage documents. That other people talked him into it won’t help him much, it would just put those people into problems - if he could prove it (and that’s doubtful, if he doesn’t have their ‘advice’in written form). And since at least some of those documents were transmitted across state borders may even make it a federal offense (hey, who ever said you can’t learn some important details from Hollywood movies
). I guess that’s how the FBI gets into the play.
On the other hand, how is anybody going to legally prove that Casey submitted those documents with the intention to defraud the lenders off their money? Afaik (ok, I didn’t spend as much time studying every detail of Casey’s life as obviously 90% of the commenters here), he never said or wrote that his idea was to default on the mortgages and run away with the money. Instead, he really tried to make the same kind of sweet (hehe) deals countless flippers made in the heydays of the bubble. He almost totally screwed up by overpaying, not having a valid plan for a fast turnaround of the properties, and by letting the costs run out of control because the objects were to widespread across several states to effectively handle the rehabbing and flipping part of the ‘plan’. And most importantly, he was much too late in the play, it wasn’t 2003 or 2004 anymore. No matter how clumsily his approach, he would have made a lot of money if he would have started two years earlier. But at the end of 2005, the pros were already desperately looking for bagholders to relief them of real estate that was already becoming a burden. That’s why so many sellers were eager to put cash into the deal, the cash that allowed Casey to go on with his stupidity. Those worried flippers relied on naive and crazily optimistic ignorants like Casey to catch the falling knive. Of course, nobody who had a stake in those sells would have warned the fools that they were going to sit on property that would soon start losing value. Why the lenders played along in the kabuki theatre, nobody knows…
So, yes, Casey is guilty of falsifying documents and of an optimism that borders on madness. But all his actions show that he honestly believed in the chance to sell the properties fast, and with a profit. We may not like those kind of flipping deals that drove housing prices through the roof. Personally, I hate those real estate sharks. But we don’t have any proof that shows Casey started this with the intent to rob lenders off their money. So, in absence of evidence, Casey isn’t guilty of fraud.
Btw, I guess his point about the expert checking the documents is to prepare a possible line of defense in case that he has to face a trial. Good idea, and that his posting generated 300+ comments shows that at least there’s one thing he’s good at: Getting haterz to push up his traffic (and income). A dangerous way to make some money, but, hey, lots of greedy fellows went as mercenaries to Iraq, too. So what?
July 24th, 2007 at 5:20 am
“So the problem was that ONE person didn’t tell you it was illegal, many did.”
‘We want the funk’, the problem isn’t WHAT persons told Casey, but WHEN they told him it might be illegal. Of course, no one profiting from his deals told him he was heading to jail…
July 24th, 2007 at 5:41 am
Casey,
1. Show the receipts of all the fix-up work you did.
2. How much money have you paid to your creditors (not the corporation, yours personally) in the last 2 months?
Have you got in touch with Cashcall yet?
July 24th, 2007 at 7:15 am
2 QUESTIONS:
1) Do you really think the fact I’ve driven over the speed limit makes it all right for you to lie on your applications? Heck, the fact you lied doesn’t make it all right for me to speed.
2) Did you ever think that if you couldn’t afford to get into the get rich quick by flipping houses market without cheating you shouldn’t have done it?
July 24th, 2007 at 7:31 am
Funny stuff Casey.
If someone told you how to rob a bank with a gun and that ‘everyone’s doing it’ , and you decided to do it too, would that person be at fault and not you?
This whole thing is so contradictory it’s almost unbelievable what you continue to post. You are a big time businessman doing sweet deals and yet you seem to be saying that you didn’t look at anything you signed and had no idea what was going on. That’s the Paris Hilton defense - “I have people to do that stuff for me”. Ha ha.
Yes, the evil government made borrowing easy, but the main intent for that was to put people in primary residences, not to allow idiot flippers to commit mortgage fraud on 8 houses.
asw: kangaroo
July 24th, 2007 at 7:33 am
@metacritic
I think people are still misunderstanding the intent element. It doesn’t have to be proven that he intended to gain from the transaction. It doesn’t have to be proven that he intended to default. It doesn’t have to be proven that he intended to be guilty of fraud.
The action itself that constitutes fraud needed to be intended.
In this case, the action is not “fraud” per say but the knowing signing/submission of documents with false info. It doesn’t matter what reason he did it (where everyone is confusing intent).
For example, if a new employer said to Casey, I’m going to pay you $100k a year starting today and Casey submits the document with $100k as his annual income before the first pay check comes in. The employer is a total flake and meant that he would pay Casey $100/yr instead of $100k a year, there is NO INTENT here to make a false representation on the document.
However, if Casey knew he was making $50,000/yr and the broker puts $65,000/yr because that is what is needed for the loan and then Casey looks over the doc and signs it, he knows it says $65,000/yr and he signs it anyway, there is specific intent there.
It doesn’t matter the reason. It may well have been very logical to him as a standard practice. He may well have intended to repay every penny. He may not have realized it was illegal.
The action that is illegal is the mistatement itself. If he intended to mistate his income then he has intent regardless of everything else. The only thing I could see which takes away intent is if he reasonably believed the income statement was false or if he signed under duress or some other unlikely explanation.
I’m just trying to focus the discussion on intent to where it should be. Again and again I say, it doesn’t matter if he intended to cheat the mortgage company or he intended to repay it or if he thought it was standard practice. The question is what action itself is illegal. The mistatement of income is. The obtaining a loan through mistatements is. Did he intend to mistate income? Did he intend to obtain a loan by mistating income? That’s the intent that could make or prevent this from being illegal.
I’m not an attorney, don’t claim to be one, don’t even play one on T.V. I have a lot of experience in the legal system but that doesn’t make me right. This is my opinion. Take it for what it’s worth.
July 24th, 2007 at 7:36 am
Sorry, there’s some typos in my reply (lots of them actually). I need to read before I submit.
It should have said “The only thing I could see which takes away intent is if he reasonably believed the income statement was true or if he signed under duress or some other unlikely explanation.”
July 24th, 2007 at 9:38 am
“In this case, the action is not “fraud” per say but the knowing signing/submission of documents with false info. It doesn’t matter what reason he did it (where everyone is confusing intent).”
Right, A.J. and that’s what I wanted to say.
“The action that is illegal is the mistatement itself.”
I guess that’s true, but I’m not sure. After all, this wasn’t an official document. What laws apply to lying in business deals? In a civil trial, the lenders would have a strong point, but is this a criminal offense per se?
Are there any DAs who charge housebuyers who secured a ‘liars loan’, when there is no clue they intended to default on the mortgage when applying for it? The prosecuters would have to start hundreds of thousands of trials. There have been some reports on conviction in cases of fraudulent mortgage aquisition, but in those cases, the offenders didn’t try to rehab the properties. They were just the bagholders for desperate owners who wanted out. They took the cash and didn’t care for their posession. There are even some stories about prisoners buying real estate via telephone. All those fraudsters didn’t intend to make a real deal by selling the properties at a higher price, they were just in it for the cash they got for buying.
Well, I don’t think Casey is in the same league, as long as he can prove he spend money on fixing the houses. I guess DAs have more promising cases to follow up on right now than going after foolish wannabe real estate moguls.
July 24th, 2007 at 11:23 am
Maybe my word choice continues to be poor.
Fraud is the crime. But the action of mistatement is what makes it fraud. As far as I know, there doesn’t have to be a distinct intent to commit fraud, only an intent to mistate. Aside from a truly accidental mistating or mistating due to a lack of knowledge (like the example I gave earlier), I think it would be difficult to prove mistatement is not intention.
I do think the DA’s, FBI, etc. have bigger fish to fry and are way overloaded. But this matter has become a topic of public interest and that’s where I fear this will catch up with Casey. Closing this blog and refusing interviews may be the best thing he can do (though it may or may not be too late).
Absent the publicity, I’d of said the DA and FBI would have just shrugged this one off and been pretty confident in it. I do sincerely believe Casey when he says that he didn’t intend to default on these debts. For his own sake, I hope this is a learning experience and whatever comes of it is a slap on the wrist because there are far worst out there that are getting away with things because of lack of prosecutorial resources.
July 24th, 2007 at 12:15 pm
What’s shakin’ Casemeister?
July 24th, 2007 at 12:21 pm
“What laws apply to lying in business deals?”
Oops, I should google first before posting such questions. You’ve been right, A.J., the federal bank fraud statute clearly states that deliberately giving false informations to any financial organisation is a federal crime. So anybody who took a ‘liars loan’ is with one foot in jail. It’s only that there have been too many violations, the feds can’t go after each single case. This will help the majority of the offenders to get away with it.
July 24th, 2007 at 12:37 pm
Metacritic:
“Are there any DAs who charge housebuyers who secured a ‘liars loan’, when there is no clue they intended to default on the mortgage when applying for it? The prosecuters would have to start hundreds of thousands of trials.”
If this were true, DAs would be unable to prosecute anyone for anything. You’re essentially saying “Unless they prosecute everyone, they can’t prosecute ANYONE”. Completely untrue.
For a couple examples:
There are thousands of unsolved murders each year. Despite this, DAs still charge people with murder, even though they don’t charge everyone.
Millions of people speed on the highways every single day. Despite that, police still ticket some tiny percentage of them.
July 25th, 2007 at 9:11 am
“If this were true, DAs would be unable to prosecute anyone for anything. You’re essentially saying “Unless they prosecute everyone, they can’t prosecute ANYONE”. Completely untrue.”
Yup, not true. And I didn’t say that. Instead I wrote “the feds can’t go after each single case. This will help the majority of the offenders to get away with it.”
July 26th, 2007 at 7:55 pm
do you have a link to those truth in lending experts? I was screwed by illegal flipts. The appraiser had his license revoked and the mortgage joker is now in jail for fraud. I want to see if i can sue the lender and possible the seller.
July 27th, 2007 at 9:47 pm
Casey don’t go… I just saw ABC’s Nightline and learned of the criminal probe and probable charges. I’m very late to your blog, don’t go Casey, don’t go. I’ve been reading the hate and I think I love you. God no, don’t take us away from each other. Casey….