Friday, January 12, 2007
Wake Up
rrrrring. Good morning Mr. Serin, this is a friendly wake up call. It's a chilly 5:55AM and we here at Countrywide have been following you activites for quite some time as your sitemeter so faithfully records. Anyway, seeing as you are already up an' at 'em we were wondering if you could get around to the small matter of the half mil you owe us? We here at Countrywide understand priorities. Sure, A-Bull-Buyer is taking up a lot of your valuable time so we want to help. What say you slip us a quick $40k or so from the coffee can out in the backyard and we'll keep this between us. No need get cell block warden to wake you up when we can just... now, now Mr. Serin. Rushing out the back door half in your clothes like that. It's not necessary. The coffee cn is safe. We have someone watching it for you. His name is "Tiny" and he's sitting here next to me in the nondescript sedan across the alley. Just one of the extra services we here at Countrywide like to do for our special clients.
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21 comments:
Your little buddy casey serin was popped yesterday with a prostitiute in downtown sacramento.This was posted on another blog site.Guess the old wifey must have cut him off.
Uncle Rob,
More like,(VERY large man) "KNOCK KNOCK....
CS: (answers the door) "Hello?"
Vito: " Casey? Are you Casey Serin?"
CS: " uh, yes, and you are?"
Vito: "My name is not important right now Mr. Serin. What IS important is I am from your friends at Cash Call. REMEMBER US? Your friends that were kins enough to loan your ass that money? HEHE, yeah pally, that was REAL funny how you closed out that bank account without telling us about it. The boys all had a good laugh about it over some suffed peppers and canoli. But, I digress. As I have said, the matter at hand, my friend, is the money you owe us. My associates feelings at Cash Call are very hurt. They have the idea that you don't want to pay them back"
CS: " Money?? What money?"
Vito: " Let me refresh your memory. ( As Lou puts punches a hole in the wall RIGHT next to Casey's head) Oh, excuse me. There was a fly next to your head..... you were saying something?"
CS: ( on the floor in total fear)" Well, Wells Fargo stole my money and I have all of these sweet deals.."
Vito: (taking the lamp on the table next to Casey and breaking it on the floor right next to Casey's head) " Oh, pardon me. Another one of those pesky flies. Look Mr. Serin, you see I am a very understanding guy. However, my associates at Cash Call are not so understaning. They told me to either come back with their money they lent you or I lose my job. You don't want me to lose my job, do you?"
CS:" uh, no. But I don't have the money."
Vito: ( cracking his knuckles) " Well, that is an unfortunate circumstance Mr Serin. I'm a nice guy. I'l tell you what I'm going to do. I'm going to come back tomorrow at which time you WILL have our money. Ok?"
CS:" well, what if I can't get it by then. I tell you, I don't have it."
Vito ( stepping on Casey's hand with all of his weight, as Casey yells in pain): " Mr. Serin, you are not grasping the situation. This is not a request on our part. See you tomorrow. Good luck with that fly problem."
We had the same rumors last month. No need to get worked up about stuff that can't be confirmed. If it happened it'll light up the blogosphere like nothing else.
Seems like Casey just learned (even though I told him before) that he isn't going to be able to do jack in 2007 after he files bankruptcy without court approval. No sales, no refis, no other sweet deals.
bk boy, esq.:
Casey seems like the type of client who will go around and consult with a couple of dozen BK attorneys. There may be at least one in that group that will lie to him and tell him what he wants to hear (the possibility of sweet deals). Truth is, the only sweet deals he'll be making are plea bargains with the federal government.
Classic Casey quote in his latest entry: "Signing that note I think was kind of stupid now that I think about it…"
Oy Vey,
The dipshit has posted a new comment.Now he his screening comments, responding with his replies prior to posting them. It's all about him folks.
He's flying blind. He's got nothing left and is blowing smoke. He freakin' thinks the houses are going to slip quietly into foreclosure. Why not? Nothing happened the first time. He is so living in the moment he's lost all ability to connect actions with consequences beyond a soy burger to satisfy hunger. A soy burger at Denny's could pay for a week's worth of bologna and cheese sandwiches. I've taken to resenting the way he wastes my money.
Ah ha! According to one of his monologues this morning, CS doesn't want to file BK because he is afraid that will "out" him to the authorities.
Oh little does he know...
I know beans about California law, but is it true that if there is a non-judicial foreclosure the lender can not recover the deficiency? In another life, I worked for a law firm that handled non-judicial foreclosures in Alabama in the late 80's-early 90's --- and the lender could, after the non-judicial foreclosure and auction, sue to recover the deficiency.
And how about Texas? Can the Texas lender (and Utah for that matter) still pursue Casey for the money owed?
Not being able to get the deficiency seems to screw the lender, not that I have much sympathy for them, but it has to increase interest rates in California and indirectly here.
I'm getting bored with Casey's blog - but many of us are. The guy is so hopeless. The best part of his blog are the comments and the conversations that people are having with each other right over his head. Without comments, there's nothing interesting, just a really dumb guy talking to himself.
Has anyone ever noticed that Casey doesn't have a sense of humor? Not that he would, in his situation. But he can't even laugh at himself or the comments that people make.
He's got weeks and he doesn't even know it? No, maybe he's actually listening to somebody to use the blog to build a trail of "I'm not doing anything wrong, I never knew it was wrong, yada yada..."
It isn't as much fun anymore. I want my Sputnik and Homey fix. The last two days only reinforce that the comments make a blog.
My God, he's gone batty. The boy is having full on conversations with himself.
Wikipedia.com symptoms of ADHD
The symptoms of ADHD fall into the following two broad categories:
Inattention:
Failure to pay close attention to details or making careless mistakes when doing schoolwork or other activities
Trouble keeping attention focused during play or tasks
Appearing not to listen when spoken to
Failure to follow instructions or finish tasks
Avoiding tasks that require a high amount of mental effort and organization, such as school projects
Frequently losing items required to facilitate tasks or activities, such as school supplies
Excessive distractibility
Forgetfulness
Procrastination, inability to begin an activity
Difficulties with household activities (cleaning, paying bills, etc.)
Difficulty falling asleep, may be due to too many thoughts at night
Frequent emotional outbursts
Easily frustrated
Easily distracted
Hyperactivity-impulsive behavior
Fidgeting with hands or feet or squirming in seat
Leaving seat often, even when inappropriate
Running or climbing at inappropriate times
Difficulty in quiet play
Frequently feeling restless
Excessive speech
Answering a question before the speaker has finished
Failure to await one's turn
Interrupting the activities of others at inappropriate times
Impulsive spending, leading to financial difficulties
Casey scores a perfect 100% on my scorecard for ADHD.
Uncle Rob,
The FBI describes Mortgage Fraud as the fastest growing white collar crime, a threat significantly exceeding the S & L Crisis. Any false statement made to a lender or false document presented is Mortgage Fraud. Most of the fraud is Occupancy Fraud which is claiming on the loan application what is really an investment property as a primary or second home to avoid the 1 to 2% point surcharge lenders charge for these riskier investor loans, or did not have the required down payment. The result is the demand for real estate was manipulated as a buyer was created. That lie presents the illusion of increasing demand leading to rising property values & deceives lenders & appraisers about value trends in the neighborhoods where the Mortgage Fraud takes place. According to the Prieston Group, 3 out of 4 Mortgage Fraud claims involve investors involved in Occupancy Fraud. Once a nuisance to a handful of lenders, these economic terrorists have put innocent homeowners on the hook for overpriced houses & pushed up interest rates for all home loans. As a result, lenders and the authorities have turned their attention to regular borrowers who are often prompted into falsifying their applications by real estate agents or loan officers who tell them it’s OK because “everybody does it.” But fraud is fraud. It doesn’t matter who is committing it or why, severe penalties can & increasingly do apply. Making false or misleading statements on a mortgage application or providing false documents is a federal crime among other crimes & a form of personal & financial suicide. You will do hard time as it involves several federal felonies like mail fraud, license violations, state felonies, & the IRS on you for money laundering. Back on the outside, your credit history will contain a financially devastating black mark for years after you are set free. You will never be able to borrow money from regulated lenders again as you’re on their Exclusionary List & instead be relegated to the knee-cap busting interest rates of financing companies, pay-day & check-cashing loan stores, pawn shops, & loan-sharks. Nor will you be able to ever hold a real estate or mortgage license again. It’s not a pretty picture. As soon as a lender discovers a fake statement, it can call the loan balance due, seize the property & seek charges that could rain you with fines, punitive damages & jail. There doesn’t even have to be a loss! The IRS issued a letter that it treats any income or profit off it as Money Laundering. So for example one lied anywhere on their loan application then flipped the property, which the IRS is auditing these flips, the IRS says no no, that’s money laundering & you lose everything. Mortgage Fraud spawned a dangerous housing bubble burst that has ruined households & neighborhoods as overvalued property falsely inflates nearby home values while also raising property taxes. When the scam is uncovered or homeowners default or both, values just as quickly plummet leaving other owners with over-valued homes & upside down mortgages, conditions that worsen the housing bust. Investigators for the FBI, state Mortgage Lending Division & local law enforcement say discoveries of mortgage fraud will continue to increase as foreclosures, sting operations and the fraudsters being turned in increasingly give evidence that borrowers lied on their loan applications. Some of the $450 billion in home equity that homeowners cashed out during the 2001-’04 mortgage refinancing boom was based on exaggerated home values that came from mortgage fraud. Who pays for that part that goes into foreclosure? Initially it’s the lender, who then spreads it back in higher interest rates. Housing is a more important part of our economy than it’s ever been, and people’s & our country’ s fortunes are tied to mortgaged properties. Eventually, as this costly cancer increasingly spreads, there will be a bail-out like the S & L Crisis, but of a higher amount, much higher, which is why the IRS has categorized perpetuators of Mortgage Fraud as Economic Terrorists. Honest Realtors and loan officers cannot compete against these Fraudsters. Much of the law-breaking is well known but is not openly discussed making Mortgage Fraud a dirty & very scary secret. It touches those who know it’s occurring & those who don’t even suspect it. If you’re thinking about doing it, don’t. If you’ve done it, it’s just a matter of time before you’re caught. If someone’s asked you to participate in it, don’t, file a police report, & turn them into the local FBI office. If they have a real estate license or mortgage license, turn them in to the Mortgage Division or Real Estate Division & Board of Realtors. If you know someone’s who’s done it, do what the FBI has asked in numerous press releases, immediately turn these Economic Terrorists in.
Let us read from the good book of California Bankruptcy:
http://www.maldonadomarkham.com/california-foreclosure-law.htm
"...the judgment against the borrower is called a deficiency judgment. However, a lender cannot obtain a deficiency judgment if the underlying debt arises from "purchase-price loan," which is either a "seller carry-back loan" (see above) or a third-party purchase price loan for a owner-occupied residential property that has no more than four units (see above)."
Casey doesn't have the second one (owner-occupied residential property), even though that's what he told the lender he had. Looking back further in the document, it doesn't look like he had a seller carry-back loan, either, as the sellers didn't provide financing. Maybe my interpretation is wrong, but it looks like (as I predicted) Sir Casey found a lawyer who told him what he wanted to hear.
@ sefgault
Your citation regarding deficiency judgments only presents half of the story. For the curious, here's a link to the statute (sections 580a-580d):
http://www.leginfo.ca.gov/cgi-bin/waisgate?WAISdocID=65983716984+2+0+0&WAISaction=retrieve
"Man… I almost gave up on my goal today… started giving into the “realists” around here who are saying my goal is too aggressive/impossible. But then, earlier today, a couple of important connections materialized.
One of them being a big commercial lender with deep pockets. They have been watching my blog for a couple of weeks and are familiar with my story. Amazingly they are willing to fund me if the deal is good.
The only thing is they don’t like to mess around with loans less than 10 million. I guess I better start looking at big deals right away."
Fuck. What bullshit is this guy gonna spew next?
Can somebody clear up some posts at Casey's this morning???
For the first time since I can remember he's posted a response message. In it are responses to various posters making offers for "sweet deals." Casey makes a snide comment to one about some motel being too small for his taste buds (whatever, Case). The other talks about another property.
What sets of the b.s. alarm is that they seem to staged. It's like his buds posted these to show us doubters (haters?) that he is "in the game."
Like I posted (hasn't appeared of course), I called his b.s. and mentioned that one of the things folks pay me to do is understand how to post information about their products to message boards without setting off cries of "spammer" or "plant."
These don't sound real to me and they don't sound like posts any of you folks would post. Maybe we can call him on this crap.
Notme: He sounds like many guys I know always hustling that they have a deal lined up but then nothing ever happens.
When asked they always say it fell through, the guy was a flake, so on and so on.
Sure he has deals lined up. Sure some sucker saw his blog and wants to help. Whatever...I don't believe it.
I believe it.
I'm betting they've got some crappy unprofitable property that they want to get rid of, and they've been racking their brains as to where they can find someone with the combination of massive ambition and self-belief but no business sense whatsoever - so he won't realise he's been completely taken for a fool until the ink's drying on the contract and he realises his debts have just added another zero.
And then someone at the company spots Casey's blog and goes 'Eureka!'
Let's face it, everyone else he's ever done business with has ended up royally screwing him over, so why will this be any different?
Casey has added a zero to his past failures. The real estate equivalent of a gambling addict "doubling down." He's lyning to us and himself. He says $5000/mo passive but the apartment deal is clearly a flip opportunity. As per my math 100 units able to generate such would be 9-13 million or roughly $100,000 per unit. Very conservative in favor of Casey's fantasy if you are really serious. Right now in California rentals are going for 220x rents. Casey is "guessing" a price of 100x rents at full occupancy or 90x by normal turnover on large properties. He wouldn't sit on $5000/mo passive when he could flip to a greater fool for a quick $3-4 million. Of course he'd do neither. He'd cash out some sweet equity and catch up the other properties and... oh you get it.
I'm a touch concerned by the tone and detachment and level of self delusion in the last post. He must be entering a bipolar high but this high is too high and lasting too long. A psychotic break? Other people could get hurt.
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