Frankly, for a while I was ot paying attention to the sniping going on with Nigel. It didn't seem important until I discovered that he as a liscienced mortgage broker didn't think Casey was commiting any more crimes. This was my "WTF?" moment. Below my exchange awaiting moderation on his site:
----
1. The owner change was reported. It was even recorded by the title company with the county recorder's office when the wrap took place. It's a public record the lender can look up at any time.
Now I am begining to understand some of the comments I am seeing elsewhere. Casey hasn't reported the wrap to his lenders, that's why he was notified when the checks were not getting through. It isn't up to the lender to check title. It is up to Casey to notify and he admits he did not.
2. No it isn't. It can simply trigger the due on sale clause which the lender may or may not exercise.
Please get your facts straight before you accuse people of crimes they haven't committed.
Your opinions are noted. Your opinions might someday prove inconvienient should you find yourself caught up in a witch hunt as the mortgage lending industry implodes and bumbling prosecutors cast about for public examples.
Accusing me of not having the facts just because you disagree was unnecessary and inflamatory. But that probably explains your feeling the need to vet comments. People who are comfortable with their positions don't need to control all sides of the conversation.
----
Does everyone have the same bad feeling when a mortgage broker doesn't see anything wrong with wrapping a mortgage and not telling the lienholder? What if he's telling his clients this on wraps he's brokering? What if thousands of brokers are doing the same?
70 comments:
Before you start calling names and questioning ethics, I suggest you do your research.
Utah Rule R162-6.2.14 states, "Real estate licensees have an affirmative duty to disclose in writing to buyers and sellers the existence or possible existence of a ""due on sale"" clause in an underlying encumbrance on real property, and the potential consequences of selling or purchasing a property without obtaining the authorization of the holder of the underlying encumbrance." [Note that the rule does not prohibit such transactions.]
Source
This was a really good article written by an attorney explaining the whole due on sale clause issue.
There is nothing illegal about wrap around contracts.
Do we have another Nigel Hater?
I think we are up to bout 1/2 dozen.
Wouldn't it be funny if Nigel was Casey's mortgage broker?
I'll type slowly so Nigel can keep up.
It is not illegal to wrap a mortgage.
It is illegal to not notify the lender.
No one is questioning the legality of wraparound contracts. People are questioning the legality of what Casey has done and chosen to call a wraparound.
"selling or purchasing a property without obtaining the authorization of the holder of the underlying encumbrance."
"Holder of the underlying encumbrance" is the original lender. (I know, that legal lingo can be confusing...) It's not illegal to not tell them. Perhaps you're confusing AITD with an "assumption" where a lenders approval is required?
I thought the other party on the Utah reacharound was another flipper? Honestly who cares if they get screwed. (Doesn't make Casey any less of a douche if they do though.)
I'm not saying Casey has done anything illegal since he took out the liar loans (I'm no RE expert by a long shot), but he has SURE AS HELL done plenty of unethical things right in front of our eyes on his blog. Stop defending that dumbass, it makes you look like a sycophant. His corporate credit thingy makes me sick to my stomach.
And Nigel, if you're so pro-Casey for Casey's sake, how about if you donate the January spike in your ad revenue to Casey? Or is this really about hitching a ride onto the blue ball of destruction...
And in regards to your apparent inability to stand criticism on your blog, the old saying "if you can't stand the heat, get out of the kitchen" holds true as long as you realize that anything Casey touches becomes the kitchen and things are just going to get hotter from here.
Nigel is a guy who paid for press releases on his multipart Casey writeup at his pathetic blog, then posted a link to them at SDCIA as if they were written by someone else, got caught, and then conceded that his actions were "somewhat misleading". all this from someone who's motto is "Integrity First"
I'll type even slower.
It doesn't matter that Utah law does not require Casey notify the lender.
The lender requires notification under the terms of the loan. Casey is committing mortgage fraud right in front of you and all you can parrot is that he isn't committing title fraud. Even if for some obscure reason the loan docs don't mention requirements for change of ownership they did require notice of change of residency. Loan fraud, loan fraud, loan fraud.
link to SDCIA thread w/ phony Nigel press release....Integrity First???
http://www.websitetoolbox.com/tool/post/sdcia/vpost?id=1473696
Robert,
Your logic is unsettling.
The point of this whole "discussion" was you said:
He's a one boy ongoing criminal enterprise. He's continued to commit old crimes and initiated new ones as you watched. THe person of the present is a practicing criminal.
When asked what "new" crimes were being committed, you said, "Not reporting owner occupancy changes is a crime.
Not getting lender approval for the Utah wrap is a crime."
When faced with evidence (Utah Rule R162-6.2.14) this behavior isn't a crime, you are now saying,
"It doesn't matter that Utah law does not require Casey notify the lender."
For it to be illegal it does matter. Come on.
Maybe in Cote world Casey is a continuing "practicing criminal", but in the real world he's a guy who messed up big who's just trying to get by.
BTW have you seen Casey's note on this transaction? You do know they're all different don't you?
Robert, your finger is probably tired. Let me try & help.
Salt Lake, it's cold & dry out - try not to chap your lips while readin this.
"selling or purchasing a property without obtaining the authorization of the holder of the underlying encumbrance."
"Holder of the underlying encumbrance" is the original lender.
The common understanding based on various Casey posts & omissions (that means leaving out information) is that the "Holder of the underlying encumbrance" was NOT informed.
And Salt Lake Mortgage Guy?
Just remind everyone that you are also NIGEL - it will help us to skim over the bs that much faster. Thanks.
Wouldn't it be funny if Nigel was Casey's mortgage broker?
you mispelled "future cell-mate" as "mortgage broker".
casey is so toxic, I fear something bad could happen by publishing annonymous comments on a blog about casey's blog. blah!
A word to the wise and that includes ALMOST everyone in this thread.
Never Wrestle with a pig. After a few turns the watchers can no longer tell you apart. Besides, the pig enjoys it.
Clearly nothing we say about Casey's loan fraud is going to convince him. When somebody walks into a gun club looking to start a knife fight the polite things are in order; show him the guns, fire a warning shot, shoot him in the leg open fire. The politie thing is for any knifeholders to stop bleeding on my carpet.
"The common understanding based on various Casey posts & omissions (that means leaving out information) is that the "Holder of the underlying encumbrance" was NOT informed."
I know they weren't. That's the point. Cote is saying it's illegal when it clearly isn't.
Cote further attempts to impugn me by saying, "Does everyone have the same bad feeling when a mortgage broker doesn't see anything wrong with wrapping a mortgage and not telling the lienholder? What if he's telling his clients this on wraps he's brokering? What if thousands of brokers are doing the same?"
Mortgage brokers don't do wraps for clients, real estate agents do. Wraps for the most part bypass the need for a mortgage broker because the new financing of the wrap is part existing financing, part seller financing. There is no new institutional money involved. That's why institutional lenders don't like them.
I would only suggest a wrap to a client if I couldn't otherwise qualify them for a loan. I may use a wrap on a personal purchase if the terms were more favorable than institutional money.
Nigel "Ethical Broker" Swaby -
Legality of the UT wrap aside, please explain why you continue to defend Casey. That's what I really want to know. What has he done that was ethical since he started his blog? I can't list one thing.
Bluto-
That thread was hilarious, especially Tony Montana's comments. Just "a liiiiittle" misleading. I guess I should have addressed this to Nigel "Trollin' for Traffic" Swaby.
PS - Nigel, give your January ad revenue increase to Casey's creditors and I'll shut up.
Oh oh, everybody watch out, Nigel's been impugned!
I always thought the slc in slcrealestate was for Salt Lake City. Turns out it's for Sure Loves Casey! And to think I used to see you as reasonable.
Nigel keeps acting as if anyone gives a sh!t about Utah law on title. He's a mortgage broker fergawd's sake. Does anyone here think he's ever passed docs that didn't include requirements for notification of change in tennancy and/or ownership? We know for sure Casey's loan requires both and he hasn't so informed.
I'll settle for Nigel telling Casey's 1st of the wrap.
Robert -
WOULD YOU MIND PULLING MY LAST POST? I am usually more private but your blog lulled me into a false sense of security - I realized that idiots also read here.
Everyone deals with things differently & that's how I dealt with finding out I had a sleazy broker for a few years. Which AMAZES me that Duane hasn't asked to see all the paperwork on the loans & houses because "it's a done deal?!"
@Nigel,
STFU. All you do is whore out your pathetic site on every damn blog you visit.
You are the typical mortgage broker. Money over morals every time, right? Go back and read your bootlicking posts on IAFF.
Eddie Haskel of IAFF.
Nigel's self written press "press releases" are here...most amusing
http://www.prweb.com/releases/2006/9/prweb437101.htm
http://www.prweb.com/releases/2006/10/prweb467291.htm
Those press releases...
"several thousand readers"
>snicker<
Re: Recurring theme - lack of conscience
I highly recommend the book "The Sociopath Next Door" by Martha Stout. There is some academic criticism of the statistics and assertions made, but for the most part I believe it's spot-on. Sociopaths can feign regret if they believe others expect them to be regretful--although they feel no actual regret. E.g., saying "I want to pay back every dirty penny," (but you know you won't).
Also, sociopaths have a superficial charm, and make excellent con artists. Unfortunately (for them), they are often naive and easily manipulated by other con artists ("Casey, have I got a sweeet deal for you! You can use a liar loan and a corporate line of credit to buy a 200 unit apartment complex and instantly have $5k a month positive cash flow! Just sign here.")...
Sociopaths are more prevalent in the 18-24 age group than in other age groups. This is troubling because there is no cure or treatment for the disorder. Her book does not speculate as to whether a small percentage grow out of their sociopathy (or show fewer symptoms) as they get older, or whether our society is raising a generation which will always contain a larger proportion of sociopaths.
From the first press release:
Besides being written by someone with real estate experience, this blog is unique because it only discusses property in Salt Lake City.
Okayyyyyyyy....
Nigel "No Morals" Swaby
Your little Utah statute only applies to real estate sales people disclosing that there is or might be a "due on sale" clause and the consequences of not obtaining the authorization of the mortgage holder, Aurora Mortgage, a division of GMAC.
It has nothing to say about wraps being legal or not legal. Absolutely nothing, bright boy.
Maybe the Christoffersen's, who did this wrap, informed Casey and his buyers, the Christiansen's, I believe, of the consequences, maybe they didn't. You don't know, you were'nt there at the closing were you? Or were you?
But I guarantee you that it showed up as a lien in the title documents so everyone concerned knew there was a "due on sale". Casey admitted he knew. Lisa Lott at First American Title would have shown them that lien during the closing.
Bottom line, lenders are entitled to know to whom they are loaning money and who is in possession of their collateral. They set the terms and conditions and Casey agreed to abide by those terms and conditions and then breached the contract.
Casey's signature on any type of contract is the equivalent of spit. And your defense of Casey is pitiful and without meaning.
From Nig's press release:
"I saw Casey's story out there in the first weeks of September and made a couple of advisory posts," Swaby commented. With house prices declining, the media turned its focus to bubble talk and Casey soon became the poster child of what not to do. "As I kept reading his story, I realized he's very intelligent and pretty shrewd about reaching his goal of avoiding foreclosure," Swaby added.
Would you let a guy who thinks Casey is intelligent and shrewd
broker your loan? That's a rhetorical question, I still don't know why anyone goes to a broker in the first place.
YO YO YO ITS HOMEY TIME
Yo Rob Dawg wassup??
Man dat Casey Kat bin bizzy fo sho. He dunn moved up in scammin wit dat Dewain dog.
Chek it owt bro. Dewain gonna be buyin Casey's blog so dat Dewain dunn owns allz da rites too Casey kats story, an sinse Casey kat ain gonna ownz it no mo, he kaint looz it iffin he gitz suedz by dem noselimited skeezers or iffin he triez to file dat BK. Den, he gonna lets dat Casey kat by it allz back so dey bof can makes da bling bling. Wach fo dat cummin soon. Casey and Dewain bof noze dat da man be nokin at da do soon fo sho.
Chris dunn fired dat Casey kat fo sho. Casey be lyin hiz azz off bout dat.
Heidi, Homey in luv which yu girl. Yu sho noez hows ta git da 411 on Casey kat.. wach u bin hearin bout da FBI an Casey kat? hehe
@segfault
You may also enjoy SNAKES IN SUITS by Drs. Paul Babiak & Robert Hare. I'm reading it now. Basically about sociopaths who enter the coporate marketplaces, line their pockets & then systematically destroy the company before they move on to the next. good stuff and they deal with real, large corportions, not brokers or "deal makers" working out of the parent's garage.
I'm just shocked that Utah doesn't have liciencing requirements that mandate brokers report instances of fraud they uncover.
Robert, you may be shocked but I am bored. The NLL spectacle was a nice diversion & showed us what the hounds can uncover when released!
Why don't you cyber-sleuths check out Nigel. I know, I know, he'll misunderstand & org*sm at the thought of web hits but it might be interesting. At first glance in Google it's obvious he's a wanna be writer who wites his own PR and spams every blog he views.
But wouldn't it be fun if he was Casey's broker? Or some 20 year old working from Mom's basement?
Eddie Haskel said on his site:
So what's wrong with this treatment of Casey? Sure we bloggers aren't placed under the same scrutiny as professional journalists, but we have to have standards regarding what we post. We have to perform our due diligence before we publish. If we don't, we not only open ourselves up to libel and slander suits, but we make ourselves look bad as well. Credibility counts. In this instance, Keith publishing this inflammatory post, when he knew better, makes him just as much of a shill as he claims real estate professionals are.
Furthermore his constant badgering of the real estate industry while he profits from ads supporting the industry is just a bit too hypocritical for me.
This coming from a man that buys his own PR, and then gets caught on it.
Nigel Swaby's Salt Lake Real Estate blog is new on the web, but has steadily gained a readership of several thousand visitors per month. The focus of the blog is mainly real estate and mortgage news with plenty of tips for investors and first time homebuyers
SEVERAL THOUSAND VISITORS PER MONTH?
http://www.blogtopsites.com/sitedetails_39091.html
Nigel,
If you were a landlord would you be upset at your tennants if they sublet your property to people whom you did not know, nor had you had the opportunity to run a credit check or background check on? Hence, many rental agreements contain a clause prohibiting sub-letting without the written approval of the landlord.
Now apply this same concept to lending somebody hundreds of thousands of dollars for a property. Casey violated this provision by not notifying the lender. The big question up in the air is, did he mislead the buyer or anybody else that is party to the wraparound into thinking that he did have permission.
Do you find Caseys actions ethical? If it was your $300,000 at stake, how would you feel about the situation under these exact same conditions? What would YOU tell Casey if he responded to you that YOU could look at the title and find out that there was a new owner?
Casey still lied on the loan documents concerning his income and his intent for the house to be his primary residence. That is what I spoke to Rich Hamp about at the Utah Attorney Generals office. What made it all the more interesting for Rich, was Caseys continued avoidance and pattern of deception.
The Utah wrap may not be a criminal offense, but it points to a pattern of behaviour that will not be tolerated. People are mistaken if they believe that only the banks can bring charges against Casey. There comes a time when the agencies that regulate a particular activity, can step in and take action to protect the citizens of a state from the Caseys of the world.
Random thoughts as the epoxy hardens:
When I say "shocked" it is shorthand for the the Claude Raines scene in Casablanca not true shock.
Yeah, it looks like Nigel is pageview junkie.
I'm guessing he's close to thirty. Imagine 4 long long years in the business. What was anyone thinking, presuming to challenge such depth?
I am dissapointed at no one commenting on the graphic and why I chose it. Google the lyrics using Nigel + XTC.
Nigel has been polling this thread a lot but notice how now that it has been explained a number of times where his errors lay he's gotten reallll quite.
Homez! Where u been hidin' in man? Not in some skanky AZ cik I be hopin'. Dat be a way to catch sumptin' nasty. Your ethics might even dun clean fall off! An where you be den man? You be left cleanin' the sheets fer da flippers and floppers. Don' want that.
Anon who mentions the SLC blog post. He doesn't get it. Agenda, okay. Attitude, okay. It's about building trust. I can trust "Keith" will say nasty incorrect things about Bush but that's what I've been led to expect. Here we expect casual conversations with content. I've been fortunate. All the big words scare off the troglodytes and the content befuddles the feebes. I stand ready with my 2x4 of certitude for the rest.
I am greatful for all the eyeballs ensuring that BS gets called BS.
I addressed this entire subject a few posts back.
I will repost the bulk of it here since it is more relevant
@Duane I find it amazing that you deny any links to casey's RE college he went too. (which is a MLM outfit).
You are just a damn equity skimmer the same as all of the other bottom feeder's "we buy houses" miscreants out there.
Yes the homeowners are in distress and here you come along under the guise of a knight in shining armor on a white horse with a solution to their problem. WHEN IN REALITY your looking to rip them off and get PAID with the equity they have in the house.
You deal with SUB2's....a bunch of damn sharks that all should be in prison.
SUB 2's are UNETHICAL and IMMORAL. It creates a material breach between the seller and their lending companies while ALIENATING the seller from POSSESORY rights of the property while still being FINANCIALLY LIABLE for the property. See lenders have clauses to prohibit this and protect their interest, mainly the Due On Sale claus. See these Equity Skimmers come along and RIP people off and force them into a material breach while taking any recourse away from them since they nolonger have the deed.
Why dont they sit down and explain to them the INTERVIVOS trusts, assignment of beneficial interest, and how it gives them ZERO recourse should the sub2buyer decide to walk from the deal.
See when you sell on a wrap you are essential DOUBLE LIENING the property. yes lenders provide the ability to have assumable mortgages UPON THEIR APPROVAL, but casey and his kind skirt that issue and take the decision away from them.
YES the st. germaine (sp) act allows for Living Trusts...it was the compromise made by the LENDING INDUSTRY when they pushed for reform including the DOS claus. Pre 1986 (none exist today) loans did not have the DOS claus and people could just file the paperwork and pay a small fee to assume the loan and the lenders had zero say in the new lender including analyzing their credit risk...anyone could assume the loan.
Additionaly LEASE/OPTIONS are similar in violating all of the above with respect to the DOS claus.
Why dont all these sub2 people disclose to the lenders and the buyers all of this.
Because they use loopholes of Living Trusts to skirt around it (what it was not designed to be used for). It was designed to pass onto the heirs of the estate in a quick and efficient manner without probate.
Why are there so many asset protection or what I call ASSET and CONTRACT HIDING methods along with these gurus and participants in this.
They even go as far as to OBFUSCATE and HIDE origination of payments and even hiding insurance beneficiaries as well as addressing utilities. Anything that could tip off the lender that they now have the option of ACCELERATING PAYMENT under the DOS claus. They go into great detail about pulling the wool over the lenders eyes to think that a DOS claus has not occured when in fact it has.
And you deal with these type of people every day including casey and others like him with your company. That makes you a thief in my eyes also by association, by business dealings, and by assisting them with solutions.
Any reputable business stays away from any inpropriety and is TRANSPARENT in it's dealings and can not only stand up to COURT OPINION but further can stand up in the much tougher COURT OF PUBLIC OPINION.
Which you and casey fail miserably.
It further enrages me that the assignment of beneficial interest allows your buyer to do take the interest deduction on the loan and alienates the original seller from the deduction even though the original loan is still in their name.
There needs to be a major overhaul on the federal level in regard to the IRS that stops SUb2 guys in their tracks and notifies the Lenders of the original sellers (who still are on the hook should casey and his kind default) of the sale.
Additionaly there needs to be insurance and utilities reform to stop this also and make it CRIMINAL to do it.
and lease options as well.
Now lets get back to our favorite punching bag casey here.
I have seen the public records for several of the properties.
Ole casey here is SCAMMING the lenders for his cash back deals.
When the sellers sell to casey's wife and then immedietly his wife sells to casey so he can get his 50k cash back or whatever amount it is....I am pretty sure they didnt let the lender know about this. His wife is just as guilty as he is...of course she knew what was going on.
This DOUBLE CLOSING should be illegal (and in this case it is---it is defrauding the lender and there is no way in hell they would have funded had they known about the cash back)....
Double closings are a tool and should be used that way...Hell I have even known of a triple closing.
FOr the people reading this and dont know what a double closing is...lets break it down using casey here.
He approaches the seller and agrees to buy for 100k.
They agree...casey then finds someone willing to pay 150k for it.
Either he can sell his position in the contract for 50k and just let the buyer and seller meet at escrow and close or he can go to the closing himself.
So seller sells to casey, then IMMEDIETLY the escrow agent creates another Instrument transfering from casey to his buyer..with the end buyer funding the entire thing.....ownership is held for sometimes minutes by casey.
Then the distribution of funds goes out according to escrow instructions.
Casey did this with his wife (talk about not dealing at arms length here--dumb casey just dumb)...
bought the property, sold it to his wife, and then the liar loan in caseys name funded the whole thing.
Original lender got paid off, sellers got the difference between their sale price from casey minus their mortgage, and a new mortgage was created to casey ....their mortgage minus his purchase price from his wife...voila 50k difference cash back at closing (nevermind that the property was overleveraged)..which brings me to the appraiser.....They need to be investigated for FRAUD also....100% financing to 125% financing on a Non Owner Occupied house is a big difference and you would spend a year trying to find a lender to even find to fund 100% on an investment house.
Oh wait casey lied to the lenders and said that he was going to be owner occupied. (I still rub my damn head trying to figure out how they didnt pull credit records and see that he had 4,5,6,7 other primary residences)..how many primary residences do you need casey?? THIEF.
When you have a NON OWNER OCCUPIED (NOO) home you may get 70 ..hell even 80% (good luck finding them) financing. They want you to have your CASH invested in there so you have a vested interest.
This is why you buy well below market value.
Casey here couldnt even think of the simple formula
FMV=100k
Rehabb costs 20k
HOlding costs 5k
VALUE before Remodel 75k
OFFER 75% of value before remodel.
banks loan on after rehab value..fine. but they also hold in escrow the repair costs and pay the contractors directly allot of the time..this is more prevalent for construction loans.
robert I would like to see maybe your next blog topic pertaining to kiyosaki's statment "mistakes are not a sin unless admitted"
I got some choice comments to make about that one.
yneune's letest cumment is interesteeng:
Special Note: I am thoroughly disappointed at what you tried to do. I know all about it and I’ve forwarded the information to the appropriate people. How could you?
Thees is zee lungooege-a ooff a vumun vhu's deescufered thet her merreeed freeend's hoosbund hes beee fuuleeng eruoond. Bork bork bork! Deed Casey try tu neebble-a oon Erin's herreeng?
"I am dissapointed at no one commenting on the graphic and why I chose it. Google the lyrics using Nigel + XTC."
RE Bob - It's Making Plans for Nigel. Being the only one named Nigel in Utah, I've heard it all my life.
Nigel,
I didn't delete your click whore bove and i didn't click it either. No one is intereted in your opinions on the subject beyond what you've already said. Clearly you don't understand the difference between Utah law and a loan agreement. Rant and flail all you want over at your blog. It's one of those cases of when your opponent is busy destroying themselves it is best to stand back. IMO based on the title of the link you have "cleverly" mislabeld as being germane to the song all you are doing is sowing the seeds of doubt as to your suitability as a mortgage broker for any prospective customer. Still waiting to hear if you've ever in your extensive 4 years processed loandocs with neither tennacy nor transfer clauses. Your silence on the issue is answer enough. Go play in your own sandbot where your thousands can gape in awe and wonder.
Oh one more thing before you go. It's Robert. I've never resorted to Nige or Nigypoo or anything like that but then I've never been so insecure about my position as to feel the need. Young, brash and intransigent; a combination that always leads to just deserts.
OT:
Sorry to break up the Eddie Haskel bash.
Robert, do you have the url for Casey's sitemeter? The little shit removed it from IAFF.
Thanks
Now back to Nigel sucks.......
Just posted this on Eddie Haskel’s blog. Let’s see if “Mr Free Speech” approves it.
Hey Nigel, first time visitor and I must say I’m impressed. You are F’ing hilarious.
Man, when you posted this:
“I'm all for free speech. Really I am. I just have a hard time when it comes misleading, borderline slanderous speech.”
Then you follow it with a post about how it’s okay to mislead the banks by not telling them about a wrap on one of their mortgages.
I thought I was gonna choke I was laughing so hard.
But wait, there’s more:
You call the Housing Panic Dude a hypocrite for criticizing the RE industry while at the same time receiving advertising revenue from it. But apparently you have no qualms when your good bud Casey commits crimes against the RE industry and still receives ad support from it.
Man I thought I was gonna piss myself when I read that one.
The best part of all, I click one of your press releases and see that the name of your company is, get this, “Integrity First” Financial. “Integrity First” BWAH, HA, HA! Please make it stop.
This blog is Comedy Gold. Keep bringing the funny, Nigel. It’s a shame that some people think you are actually trying to be serious.
Long live Free Speech!!!!
This "double closing" between G and C... is it really a double closing? Or is it just a legal formality to take her name off the title/loan as CA is a community property state?
I've seen a lot of assertions that's what is happening, but I'm wondering if that's what really happened.
Txh for the enlightenment!
http://www.sitemeter.com/?a=stats&s=s27iamfacingforeclosurecom
This is the post I left for Nigel at his site.
Nigel,
Please understand I am not trying to get into a pissing match with you by any means. I am not understanding the level of harshness being directed at you, but I do continue to disagree with you on some points.
I understand that you are pointing out that what Casey did was not CRIMINAL and I do agree with you that not telling the lender about a wrap does not constitute a CRIMINAL act that is punishable in the same manner that outright mortgage fraud would be punished. ( I should be explaining that in a better manner , but it has been a long day)
However not reporting the wraparound to the original lender is ILLEGAL. In most dictionaries, the second definition of illegal is, "prohibited by official rules."
If the contract declares that you must inform the lender ( so that they may have the opportunity to perform due diligence in order to protect themselves and their shareholders) and you do not inform them as stated by the contract which you entered into and agreed upon, then your actions are by definition, illegal. The contract sets out the official rules of the game that is being played.
His actions lack integrity and they are illegal. A very important player in the circle is not being given REQUIRED information by which to make an informed decision. The lender may or may not choose to exercise the Due on Sale Clause, but actions which remove them from even exercising that choice, is illegal to those who conduct business with integrity.
I would suggest you distance yourself from Casey as much as you can. In my opinion, you seem like a nice guy and do not need to be dragged down in the Casey Serin madness.
If Casey really wanted to move forward with integrity, he would notify the lenders as required by the contract and allow them to determine if the deal he is entering them into is a sweet one or not. No disclosure = no integrity.
Holy crap! I thought I was the lone XTC fan left in the world. Drums and Wires is a great album.
@ Robert
"When somebody walks into a gun club looking to start a knife fight the polite things are in order; show him the guns, fire a warning shot, shoot him in the leg open fire. The politie thing is for any knifeholders to stop bleeding on my carpet."
Sorry Robert, just one point of contention. I'm a USPSA M Class shooter, friend of many LEO's, and all around swell guy. When someone pulls a knife on you, the polite thing to do is to "Mozambique" them. Two rounds COM and one round to the head. They are supposed to bleed everywhere. It really makes a huge mess. I've seen the results first hand. Back to our regular scheduled programming......
http://en.wikipedia.org/wiki/Mozambique_Drill
Now that everyone has had their sacks shined by nigel with his extroardinary ass kissing abilities...lets not forget about our great friend of Casey...the mr. saaaavy chris records.
His wonderful institution is discussed on John Reeds website (www.johntreed.com)...and here is a clip of what is said about his fine real estate institution.
"Nouveau Riche(Phoenix, AZ) --- I do not recommend
James Phillip Piccolo filed Chapter 7 bankruptcy in Phoenix on 8/27/90 (petition #2:90-bk-09050-RGM). On 6/16/92, a Phoenix grand jury indicted James Phillip Piccolo for “Theft, a class 3 felony and Trafficking in stolen property, first degree, a Class 2 felony,” namely, the theft of a 1981 Mercedes Benz and the sale of its parts (No. CR92-91584). Piccolo pled guilty on 12/7/92 and was found guilty by Judge David L. Grounds of the Superior Court of Arizona, Maricopa County."
OMG here is some more interesting read on his "esteemed university"
http://www.ripoffreport.com/reports/ripoff77931.htm
ENJOY
Well it looks like Swaby never approved my post (big surprise) here’s my next two posts that won’t see the light of day over there:
1) Swaby - “I'm all for free speech.”
Hey “Mr. Free Speech” what happened to my post?
2) Hey blog boy, where's my post?
Which Utah law did I break? BWAH, HA, HA!!!!!
PlumbDev,
Yes, hopefully he'll post it, read it and get it. I won't hold my breath waiting for him to apologize even if he does get it. It must be a terrible thing to be so unbending that it becomes necessary to break before understanding.
Lou,
"We're always making fun of Nigel,
We only want what's best for him..."
Funny how the mind works, the song was triggered from the previous picture of one of my "Barnyard Commandos" collection. I got the "R.A.M. Tank," "The Pork-A-Pult," everything, even bubble soap. Then I made an iPhoto slideshow using "Generals and Majors" as the soundtrack.
I posted this over at IAFF (236 on the latest thread):
"Nigel said he is going to take the increased ad revenue that he got from the traffic spike due to the slow moderation and your site going down and give it to your lenders in your name.
Ok, he didn’t really say that. He should though."
I figured Casey wouldn't let the post through, but of course anything that even hints that he might receive money gets past. Anyway, if anybody wants to chime in in support of the proposed Nigel philanthropy, preferably under new names that sound like cheerleaders so it looks like there's grassroots IAFF approval for it, I figure it will annoy SLiCk Nigey Nige. Not that he would ever do it, but it would be interesting to see him put his money where his mouth is.
Maybe it's just me, but he seems to be getting all sassy up on his blog lately. Must be all that new found blog muscle he got from his Casey spillover this weekend. I would be willing to bet a Jamba that Nigel got a woody when he looked at his sitemeter Friday afternoon.
CHJTS-
That Nouveau Douche info is classic! The chancellor was convicted of stealing cars. Awesome! What a magical educational opportunity.
I did look at their site and it doesn't appear that any of the courses Casey took are still offered. Ignoring Contracts 101, Napping for Moguls, and Advanced Issue Avoidance aren't listed anywhere.
I just posted this in response to the idiot known as Sacrealtor:
Hey Sacrealtor:
Nice try Casey. We all know it's you. How many posting IDs do you really need to show off that you have "supporters."
Just asking and no I really do NOT care. I just get off posting relevant info to gum up the works.
As for Nigel, you are the worst kind of butt kisser I've ever read.
Why do you care so much for a loser who lies to get something and then can't even MANAGE his "businesses" correctly?
Hey guys!
Sorry I missed all the Nigel bashing (he deserves it though the scum). Sometimees you can just get just tell when a person is a suck up. Yeah I read that SDCIA line where he gets caught putting out his own press releases...I mean hell..he just wouldn't stop advertising his little blog and the fact that he got to 'interview' Casey. He acted all tired about the interview and his writing but you know he would do anything to bump up readership of his site lol yeah right buddy). Well he and his anonymous poster can kiss my ass...
Drunk Tank, you left out the best part... Casey paid $20,000 to attend a university run by a felon.
also -- has anyone considered trying to use tinyurl to slip some choice links like the above by casey.
A public records search finds that Mr. Nigel E. Swaby of Salt Lake City was born on August 9th, 1970... hence currently 36 years old. :-)
Drunk Tank:
If you read back over some of Casey's posts, you'll notice this isn't the first one where he gets "sassy." In fact, there's an underlying nastiness and resentment in many of his replies. Add his utter nastiness toward NLL (deserved, but he signed their stupid contract) and his willingness to use his wife for financial gain (but apparently, not have the decency to tell her about any financial decisions) shows an underlying misogynistic, narcissistic personality. Casey isn't stupid, He t hought he was getting over on NLL. In fact, he things we're all stupid and that he's putting on over on us. He reaches out to people who fall in love with his "aw shucks, I didn't know" bullshit, but he doesn't realize that he's just another mark to most of them.
It is obvious that his marriage means nothing to him; it's just another tool for him to get what he wants. He has not sense of self-responsibility--he just blushes, demurs, and dodges responsibility as he continues to pick ours, and our children's pockets. And gleefully, he's using his "haters" comments to say to NLL what he wants to say. That's why he "accidentally" let's them through. He doesn't have the balls to say this stuff himself. Why should he when he has us?
Crybaby Casey is willing to do anything to turn a dime--for himself. Ask yourself--why would he take the remaining money that he has and go to a @#!$@# real estate seminar, when, for all intents and purposes, he and his wife have no money to live on? In fact, how much of the money he has gained in the last few months has gone to actually service debt? He could move into one of his houses, but no, it's easier to sponge off of his wife's folks (most MEN I know would rather kill themselves than to live off of their in-laws)--free groceries, living practically rent-free, etc. For Casey, being catered to, being served, being adored, is much more important than being responsible. Such is the world of this pathetic little boy.
In short, he's a pig.
Katie--
I couldn't have said it better, myself! Rock on!
Anybody have any idea what Yneone's # 222 special note is about?
Here's Jim "Flippin' Other People's Mercedes" Piccolo's NRU bio page for laughs.
http://tinyurl.com/2r5ne9
here is a link to the list of classes.
http://www.nruniversity.com/homestudy.asp
my favorite was #6: Tax Evasion, er Tax Avoidance. It appears Casey took what he learned here to heart -- he's been pretty good about keeping the IRS "out of the loop".
The level of harshness is due to the fact that Nigel holds himself out to be far more ethical than us anonymous posters. He said many of us are child molestors, rapists, racists thieves......
Yet he aligns himself as Caseys defender and number one fan.
I guess we shouldn't be so harsh, his click through littering of every site he visits is probably
been his only source of revenue in the last three months. I don't understand why Casey does not fill his site with ads. Too lazy?
By the way, even Ward and June could see through Eddie. I am really surprised Nigel has fooled so many of you.
anon@1am said...
here is a link to the list of classes.
http://www.nruniversity.com/homestudy.asp
@ anon: Here's what I found on that site, good for a giggle.
"The Real Market Experts® - Investor Concierge™ - CLICK A MOUSE, BUY A HOUSE! "
Lordy Jesus, what a load of sh@t the whole thing is.
Maybe I should call these guys and "trade in" my Big-Ten university (that is, legit) degree, whaddya think? By the way, in the ballpark of 36 K (9K times 4 years = 36 K) was the damage, give or take.
Nouveau Riche: $16K for twenty crap-ass non-accredited POS days of "education."
Right-o.
My super thermonuclear* hot-button is pushed whenever this is discussed.
People pay this? You have got to be kidding me.
I feel like pranking this idiots.
Nouveau Riche University
7077 E. Marilyn Road, Suite 130
Scottsdale, AZ 85254
Phone: 480.850.1500
Fax: 480.947.9393
But wait! No time for that, you say? Oh, right, I'm one of those suckers with a (gasp) 9-5 day job.
Poor me.
Guess I'll go home, open my mail, and pay my electric bill all by my wittle 'ole self.
*(Pronounce that Noo-cue-ler and Sputnik will take a steaming fishy-treat-smelling dump in your loafers, dude.)
No one here is fooled by Nigel. At this point he's busy with a round of CYA by trying to muddy the waters illegal versus criminal so he can save face. He's "olde skool" salesmanship. He thinks publicity is all goode. That used to be the case with olde media where eyeballs were an expensive asset jealously hoarded by the MSM. These days he and so many others are discovering the collective outcry can be louder than the message.
anon@1am said... “my favorite was #6: Tax Evasion, er Tax Avoidance. It appears Casey took what he learned here to heart -- he's been pretty good about keeping the IRS "out of the loop".”
You hit that nail on the head. I remember in the Rich Dad Video when RK told Casey that the $30k profit he received from selling the condo would be treated as ordinary income, because it wasn’t held long enough to be considered capital gains.
And Casey replies “Taxes?” and starts snickering as if to say “Taxes, we don’t pay no stinking taxes!!!”
I think this is part of the reason why Casey doesn’t want to get a real job. He knows as soon as he does one of lenders will come after him and have his wages garnished.
It won't be too hard to send the IRS a link to that video, not to mention the fact that I am sure they are following his blog
Here's Jim "Flippin' Other People's Mercedes" Piccolo's NRU bio page for laughs.
http://tinyurl.com/2r5ne9
ROFL ROFL ROFL..
This made me spit some soda out of my mouth when I read this....Flippin other peoples mercedes....ROFLMfatassoff
so anyway I see our favorite miscreant hasnt posted any new blogs in a few days so I will entertain you all with what happened to me today.
I went to my favorite post office today (only had to wait in line about ten minutes)...there was this cute girl (I mean HOTTIE).....
SO I struck up a conversation with her and invited her over to the coffee shop across the street.
So while we are sitting down and enjoying some coffee and conversation I come to find out that she is a USPS Inspector. So I mention to her our little friend casey here and for the next 20 minutes explained everything I could about him to her.
She went on to tell me that the Postal Inspectors are starting to crack down on documents mailed via the USPS that pertain to loan fraud as some new mandate that came down from on high.
so hopefully she will be looking into casey a little better...I already emailed the link to his website to them and a bunch of other authorities awhile back...but it feels good to get an actual someone on it.
hopefully she will be able to give me an update in the next week or so when I call her and go out for some more coffee.
but I dont know if I want to piss this chick off..she does carry a gun after all....that scares me although the thought of stephanie j carrying a cun and pistol whipping me turns me on.
Hey Nigel:
Why are you so afraid to post comments critical of yourself at your blog?
You come here and tell us how to act, yet I don't see my posts anywhere on your useless blog.
Look up the word shill in the dictionary and there is a link to poor wittle Nigel's blog.
Wittle baby can't handle tha twooth?
Funny how Robert gives you the courtesy to post your nonsense yet you are too afraid to allow comments on your blog.
Wow.
Casey is looking for help "moderating" (banishing us haters). Here's your chance Nigel.
"I think this is part of the reason why Casey doesn’t want to get a real job. He knows as soon as he does one of lenders will come after him and have his wages garnished."
Exactly
I have a BIL who reminds me of Casey, refuses to get a "real" job to avoid paying child support, sponges off of others (mostly the MIL) and is generally full of shit (is "going to school" "starting his own business" etc). Eventually though the price of being "free" (you know, not a 9-5 "looser") gets higher. No heath ins, no 401k, no credit, no house. The Casey's of our society end up a burden one way or the other, via the social service system or the criminal justice system.
Can you imagine Nigel's response to casey asking him to be a moderator?
"Me, a moderator?..I...I...I (tears running down eyes) would be....honored!"
I got a 100 dollars that says Nigel is going to become a moderator...Casey thinks of him as enough of a suck up that Casey would run everything, and you know Nigel would take a bullet for him. Nigel would even probably offer to PAY Casey to allow him to moderate.
What I dont understand is when casey's site went down...why did duane call nigel to explain to him what was happening?
Isnt he supposed to be someone that interviewed casey for a story?
Talk about keeping at arms length in case he does future Journalistic stories with him.
I agree with dolph..I looked at his site and he doesnt make any comments over there like he does on other blogs. And he uses SACWASHAGENT as his blog name so people googling NIGEL SWABY wont pull up his posts on other blogs.
Fuck him and casey...couple of little bitches (and yes I would say it to either of your faces too--in case your wondering)
I always understood that insurance was protection against something that might or might not happen (e.g. fire, theft), and assurance was protection against something that was bound to happen sooner or later (e.g. death).
landlord contents insurance
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