The radio beam from Caseyworld™ transmitted the following:
Now some updates on Modest foreclosure:
Talked with Larry the Modesto agent and he said the lender is unwilling to negotiate with him because the authorization to release information I signed doesn’t look legitimate. So I had to call and give them verbal permission to allow my agent to negotiate on my behalf.
Also Larry was told yesterday that they will usually need a non-refundable fee which equals to a month’s payment to delay the auction tomorrow. I told him I don’t have any money so he is going to try to have the buyer pitch in.
We have a strong cash buyer who is offering 270 and is ready to close as soon as title can do the paperwork. So at this point I’m waiting to her from Larry to see how it goes.
We’re talking 11th hour type of stuff here. I wish I would have found out about Larry earlier. So far he has been working very hard to get this thing through. I appreciate hard work when I see it.
$270k doesn't make the primary whole. Casey is insane to think the second who holds another $75k in paper is gonna sit still for this. Somehow, and this isn't the first time, he thinks getting the 1st to agree to a short sale is all he needs.
16 comments:
I repeat: If this deal goes through I will stick a pencil in my eyeball.
aka LOL
the auction site that Muncy is listed on has it starting at $382000 so I would guess that the lender foolishly hopes to get that for it
all this 11'th hour BS is just another distraction that will go nowhere
Starting at 382K?!
Don't they want it to sell? Casey never even offered it at that high of a price, did he?
Is anyone here going to go to the auction? I am no where near California, plus I have a J.O.B.
Yes, I'm a looser. ;(
Robert, Dolph, or anyone else who has a backbone and a bit of resolve:
The next time I get all soft, squishy and mom-like with our boy Casey, please kick me in the face with a steel-toed boot while screaming this quote:
"The point is opportunities just come to me. It’s kind of magical."
Thank you.
I think the auction is at the courthouse, that's about 5 miles from me. I don't care. The property is about 3 miles from me but I've never
checked it out. I don't care.
What I do care about is that ca$ey pays back every dirty penny.
I feel like such a fool, all these years, paying my bills, never late, playing by the rules.
Sometimes banks are just paper pushers. They got a loan they look at outstanding encumbrances, 1st, 2nds, taxes, repairs, time value and just add it up and run it up the flagpole to see if anybody salutes. After they get laughed off the courtsteps, then they'll actually look at the deal.
Latest post says he's 90% the sale will be delayed. Poor Larry the agent probably told Countrywide a story and now he's another victim of the trainwreck.
Here's another Casey Classic:
"I never again want to manage my own property. I tried back when I was 19 with my condo I owned for a year and let some tenants (friends) in straight from an eviction. I don’t have the attention-to-detail Guardian personality for it. When I refer to passive income from RE I’m always talking about having a trusted property management company to runs it all. Of course, I would still need to “manage the managers” so I do need at least some basic understanding of the process. So yes, income property is not as passive as having 10 mil in the bank spinning off interest but passive enough for my requirements of 5k/month for a basic level of financial freedom."
Bwahahaha. The building managers would rip-off Casey "no attention-to-detail" Serin worse than any tenant will.
LOL...T. I have posted some quips that he hasn't moderated yet. I even gave him a backhanded compliment for mentioning why he won't respond to the University queries.
NOW, I am bugging him for his Top 5. Now my new target is this b.s.
I don't believe one word of it. His other comment about having talent is going to be my new basis for criticizing him.
Of course he's SAVED!
He owns REAL ESTATE!
(Don't be LEFT BEHIND!)
Isamu:
Is this jerkoff kidding? Wow, talk about an overinflated sense of entitlement. He calls himself an entrepreneur YET he can't even muster up the energy to run his "business empire."
Could he really be this oblivious to reality?
"Guardian personality"? He's used that before and it keeps tingling my BS whiskers:
http://www.keirsey.com/personality/sj.html
Another line of guru claptrap he's swallowed without question.
What does it profit a man if he should gain the whole world yet lose his own soul?
I kept thinking of those words when I endured watching the RK video with Casey. I had never seen the former man before and was curious. He's not at all as I imagined. He's vulgar. Yet he thinks of himself as being so superior. I wouldn't hire him to mow my lawn. I'd be afraid he might say something distasteful to the neighbors or to my children.
Live and learn.
Apropos of nothing in this thread, I was just thinking that Casey is like the proverbial man who has only a hammer and sees everything as a nail. Why does he persist in chasing wealth through real estate even though he has no interest in or passion for the business itself? It might be because he is honestly convinced that there is no other way to be financially secure. His comments about 9-5 jobs and 401(k) plans being too risky could be trolling, or they could bear my theory out. That would also explain why he and Galina kept buying properties with cash back at closing to cover their carrying costs even after it was clear that they were in trouble.
More troublingly, he seems to have taken too literally the business of "you make your profit at purchase" and thought of the cash back at closing as profit.
GENTLEMEN,
Mr. SERIN claims that he has a buyer for the Modesto property, and he is "90% sure" that the auction will not take place.
I am sure that an auction will take place, and Mr. SERIN has used this pretense to excuse his absence. That is because there is a 100% chance that this auction will devolve into a circus.
Picture, for a moment, the worst-case scenario for Mr. SERIN if he were to attend tomorrow. He may witness his readers bounce blue exercise balls up the "I" courthouse steps. Or, the auction may be interrupted with Homey the Clown shouting -- through a megaphone -- that Mr. SERIN should divulge his involvement with "Res-Com" and swear his statement under penalty of perjury. Perhaps Mr. SERIN may witness a tailgate party -- where revelers would drink alcoholic beverages concealed in Jamba Juice cups. More disturbingly, he may see street vendors sell unlicensed "facing foreclosure" merchandise to auction attendees.
Given these disturbing possibilities, I believe that Mr. SERIN will be content with watching the proceedings on YouTube -- filmed courtesy of one of his readers.
I remain,
M. SINGH
M. Singh,
Would you happen to be a fan of the The Twilight Zone and The Crying of Lot 49?
Whatever the case might, I enjoyed the references and would be quite interested in further commentary.
Anonymous said... the auction site that Muncy is listed on has it starting at $382000 so I would guess that the lender foolishly hopes to get that for it
Actually, the opening bid is shown as $282,040.25, which is about $20K more than Casey shows on his spreadsheet. The additional amount is probably late fees, attorneys fees and trustee fees. I can see that Countrywide may approve a $270K short sale. After realtor fees and closing costs, they'd probably net $250K, give or take a couple thousand. So, they may very well agree to postpone a month to let the sale go thru. What will probably kill the sale is the second lender. A sales price of $270K gives them nothing. If it were me, I'd say hell no and hope Countrywide sells the property on the next go round. If it sells for more than the opening bid, the 2nd would get the surplus funds. Even 20 bucks is better than nothing. Then I'd go after him for fraud.
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