Thursday, June 07, 2007

5 Days Into the Past


I wish I could write like this. Wow, the prognistigation, the insight, the style. Unfortunately not only cannot I not write with such panache I cannot even understand most of the technical jargon. Can someone translate Nigel's uberbroker speak so I can benefit from the wisdom?
----
The "Goldilocks" economy is showing no signs of leaving and stock market bears and housing bears are getting sick of waiting outside.

Housing numbers are proving to be challenging for sure. This is no record breaking year, but no collapse either. Meanwhile the equities markets are breaking new records almost everyday. That big drop-off that occurred at the end of February has recovered and then some!

Jobs are good with unemployment near record lows and inflation is only pushing a little. Fuel prices have jumped through the roof, but it doesn't seem to be making that much of an impact. The bond markets are seeing yields increase which is pushing up mortgage rates to the highest they've been for several years. All this mixed economic data, but we're still, for the most part, doing well.

Welcome to the Goldilocks economy where despite economic numbers being scattered all over the place, most people are doing just fine.

I don't mean to be all "Pollyanna" in this post. There are some scary scenarios forming that could harm the economy and our way of life. Think about the last time this country was in an unpopular military situation, with an unpopular President, record high gas prices and rapidly increasing mortgage rates. Yes folks, it could be 1979 all over again.

Or we could be on to something new and different. The world is much different now politically, economically and technologically than in 1979 and burgeoning economies in China, India and Eastern Europe make 2007 a much different place and opportunity than that of 28 years ago.

Yes, we could be sitting on the eve of destruction with bears ready to pounce, or we may have Goldilocks with us for quite some time. I'd prefer the latter. How about you?

----

So how about it? no comments at SLCRe on this gem. I was expecting 2759 at least.

133 comments:

aaron said...

first

BelowTheCrowd said...

Murst?

Anonymous said...

MURST, and back.

aaron said...

mortgage rates are the highest in 10 months not years.

aaron said...

he really likes goldilocks. closet homo for sure. I wonder what he and snowflake did in the hotel room?

BelowTheCrowd said...

Yes, we could be sitting on the eve of destruction with bears ready to pounce, or we may have Goldilocks with us for quite some time. I'd prefer the latter. How about you?

Well, I'd prefer to be living in the lap of luxury, with all my needs including the dozen or so beauties paid for entirely with passive income.

But the world does not care one whit what I would "prefer."

So I deal with reality.

In my reality, there are some real risks out there, so I manage for them. I don't rush in and plan for the world I'd prefer to live in.

What's Nigel's plan for a world that doesn't go his way? Probably the same as Casey's was 12 months ago: nonexistent.

Remember Buffett's advice on how to be successful: Avoid catastrophe.

What's Nigel's plan for a world that is not catastrophic, just slow.

How well will he do if his stocks drop 5% (as they are doing right now) and his real-estate goes nowhere? Will he survive? Have enough income to continue paying off the mortgages, taxes, etc.? Or will he have to start cutting into his equity to pay for his needs.

My bet is on the latter.

-btc

Anonymous said...

Driving using the rear view mirror is dangerous enough. Using government published statistics as your roadmap makes it uberdangerous.

Nigel clearly is a thrill seeker.

Anonymous said...

Uberdangerour®


No one can use it except for anonymous.

Anonymous said...

I love how Nigel claims his statements were used out of context in and then links to the article he is claiming did him such an injustice.

0 Comment Swaby said...

From DHC:"Given the history of this site, I can't see it staying up without more drama. I wrote yesterday I thought Casey was finally moving in the right direction after he refunded his advertisers. Now I don't know what to think."


The fact that you wrote that statement yesterday confirms that you never knew what to think.


0 Comments
This comment is worth $32,682

Anonymous said...

testing

garney04 said...

i don't mean to change the subject away from Nigel but is anyone here knowledgeable at all about real estate in greenwich, ct?

Nigel Swaby said...

The point of the USA Today interview is that 2005 was mainly caused by the sun...Oh, and I HAVE STOCKS BITCHEZ!!!!

javanomad9 said...

This seems so familiar when I heard it...

check this one OUT

"Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months."
- Irving Fisher, Ph.D. in economics, Oct. 17, 1929

Dolph said...

Boy oh boy is Nigel really reaching here. Goldilocks economy? He must not be looking at the same data I'm looking at because it doesn't look pretty.

HauspocalypseNow said...

ok now serin is pimping an ad for Ron Legrand another $9000 seminar 'guru' of questionable origins.

http://johntreed.com/Reedgururating.html#anchor530264

anyone here familar with John T reed, his website in 1995 but he is 'busts' gurus.

Rob Dawg said...

Casey's pageviews are right back like nothing ever happened.

Nigel is daring to stick his solar dome out of the foxhole like he never did anything wrong.

There is no justice.

Dolph said...

So basically Nigel wants to tell us that HE thinks we have a goldilocks economy YET he is very aware of the danger signs? THEN he goes onto say he prefer Goldilocks? Uhhh, genius WE ALL WOULD PREFER IT but reality does not agree.

Wow is all I have to say. Seems he writes an article firmly dismissing doom and gloom and ends it with a hope and a prayer that contradicts his whole article. He really is clueless as to what is going on in this country economically. Does he believe that India and China, with BILLIONS of people who will work for much cheaper than here, are going to create loads of opportunities for the middle class in this country? Oh yes, he's a positive one, that Nigel (gag). I am quite optimistic in everything I do but I am also VERY realistic. I have to be because people rely on my ability to call it like I see it.

One can hope for the best, great, but don't pretend to be an expert and sell b.s.

Award winner my arse.

IMHO of course.

Dolph said...

I love John Reed. That guy calls it like it is.

Dolph said...

Dawg...I guess this proves there is something amiss in his stats, eh?

Anonymous said...

From slcrealestate.blogspot.com/ 6/6/07:
"Don't believe the headlines, believe the facts."


From Swaby Press Release 10/31/06 :
"Aspiring Web Journalist Lands Real Estate Story of the Year"

Nigel's Guest Blogger said...

Dawg,

Will we get closure with these two things:

- The finale of Duane's emails?
- Unveiling of specifically what Nigel has done "behind the scenes"?

flailing forward said...

"With rising wages, low unemployment, low interest rates and a wide selection of housing available, now is a great time to buy if you're renting." Nigel Swaby, 11/29/06

"Even if they're lies, you should still trust the numbers." Nigel Swaby, 12/19/06

"So what does all this mean? In my opinion, it means housing is slowing down a bit off its feverish pace. In other words, no big deal." Nigel Swaby, 12/27/06

flailing forward said...

Dawg, also if you could apply pressure to Duane on getting Nigel's REI TV press kit, that would be unbelievably awesome.

0 Comment Swaby said...

Purely speculation but we know that:

1. Casey (and Galina) met w/DL since shutting down the blog.

2. DL is a man who believes he could find someone willing to pay substantial money for IAFF.

3. DL could probably still sell the blog for Casey- as long as it remains in tact.

4. DL seems to genuinely want to help Casey and G.

5. DL stated that Casey would be the first thing to go if the blog was sold.


Is it possible that, on Duane's advice, Galina allowed Snowflake to keep the blog up long enough to sell it.

Mozatta said...

Who needs Big Bad Ben when we have Swabnuts?

I could be sitting on a quarter mill this year too, but the chances me achieving that are pretty slim.

A lot of things 'could' happen that 'could' change things. But as long as we have olympic pin selling master turned mortgage broker star turned real estate investing king, no worries.

Swabnuts, curious what your opinion on gay marriage, stem cell research, foreign policy, Presidential election and our environmental concerns are?

KC said...

Too many fishy characters in this story from all sides. Duane, Nigel, Casey etc...

I don't know who/what to trust anymore.

R-Boy said...

Guys

Duane has NOTHING to do with Casey coming back. He is firmly against this.

R-Boy said...

I think we can trust Duane at this point

R-Boy said...

I can ask Duane about that. However, Rob has alot of Duane's email so the slowdown is on both ends I guess, though probably rob moreso because duane's been interested in closing it up.

anywho, Ill check on that

Nigel "Adam Smith's Spiritual Successor" Swaby said...

Swabnuts, curious what your opinion on gay marriage, stem cell research, foreign policy, Presidential election and our environmental concerns are?

They're all mostly caused by the sun. And Rob, to summarize my post (that you illegally stole), the point is that never again will you see the hamburger prices of your youth. I'm sorry, but that's just the way it is. Now if you'll excuse me, I have several blog carnivals to attend and I need to purchase some lube first.

R-Boy said...

Rob and All

Sitemeter only keeps track of visits, not unique visitors

7000 visits today.

Take 700 folks. 10 visits each during the day. You get that.

Most visitors are probably repeaters...not alot of random folks surfing in now

So even at 5 visits a day thats only a reach of 1400.

So you see, his reach is VERY small.

0 Comment Swaby said...

R-Boy

As I said, purely speculating.

Not questioning LeGate's trustworthiness. Actually, I didn't think it would be imprudent to cash out the blog. Seems like it would be win-win for G. The blog would be gone (for real) and they would get some money to pay back some of their debt- something DL would likely approve of.

Benoit™ said...

@ Rob Dawg's picture -- Doc Brown, eh?

"This Saturday night, Casey, we're sending you Cashback To The Future!"

Ogg the Caveman said...

@ HauspocalypseNow:

Reed's take on Kiyosaki has been repeatedly quoted at Casey since the beginning. It didn't take.

lurker said...

Popup for the rest of us.

While surfing a got this popup. Immediately thought of you guys.

3D Koi Fish Screensaver

Sharky said...

RobDawg:

'splained this one the other day.

"Come on in folks, the water's FIIIIINE!

Pay no mind to the fact that I make commission on every koi (not fish), that jumps into the pond).

Why am I not in the pond?

Do you think I'm a sucker?(which is also a fish)."

Legion said...

Swaby sure has a knack for stating the obvious. I also notice that he talks out of boths sides of the mouth..that way either way, he can later claim..I told you so!!!

Mort said...

Wasn't Goldilocks eaten by the wolf because she was $50T in debt?

Anonymous said...

casey = goldilocks
nigel = bear
galina = beard

Sharky said...

Rob Dawg:

"So how about it? no comments at SLCRe on this gem. I was expecting 2759 at least."

Are there EVER any comments on his blogs anymore?

In fact, they're almost like public soliloquies now...almost as bad as Iddybud, ever since he started demanding DNA samples, drug tests, psychoanalysis ad stool specimens to post comments.

Hey...if it wasn't for the intertoobs, he'd be just another another nut in the park, standing on a milk crate and mumbling to himself.

TK said...

Swaby: I'm not sure what's coming on the horizon - it could be bad, but who knows it might be good!

Pure fluff.

My take on Casey and Nigel is the heat got turned WAAAAAAAAAAY up and Nigel shut down his comments, became a nicey-nice netizen and is trying to pretend he was never a total jerkoff.

As to Casey's traffic, it's right back for one simple reason:

Nobody truly believed he could stay away. It reeks of publicity stunt, and it worked. It's him doing what he does best: Thumbing his nose. We as haterz have to pick up where we left off. Things really started to unravel for Casey and it only took a few days for the heat to die down. The guy's fucking brother ripped him a new one. Nigel went underground. RCS went the way of the passenger pigeon. And Casey really was against the ropes. So I don't think it was entirely a publicity stunt - I believe he truly needed to get out of the kitchen for a few days. The heat was too much. Just time to turn it right back on.

Anyway, Nigel's "investments" are laughable. Fucking hilarious. REV? Nigel here's a tip since you seem fond of buying the stocks of companies whose products you use: Try grabbing some shares of Unilever. They manufacture Axe. Hell it looks like you could catch it on a dip. UNVR.L - get on it.

Praises Be To Al... Nigel! A Jihad Against The Haterz! said...

what's the deal with "What Casey Means" blog? Nigel go all born again on our asses and try to convert some Haterz by hacking the site?

praises be to al... Nigel! A Jihad Against The Haterz! said...

scratch that... typed in http://whatcaseymeans.blogpsot.com


...got me thinking though...

The Dude said...

Bring back the Koi, that's a type of fish....we FINALLY get the fish topic and Snowflake makes a comeback; burying the discussion.

The Dude said...

Lurker,

Fix the Koi screensaver link....you tease.

Ogg the Caveman said...

The koi thing hsa been pretty well covered, but has anyone mentioned that koi can be found in ponds? Ponds sometimes also contain algae, which is mostly caused by the sun. Sun can be either direct or reflected off the heads and/or BMWs of olympic pin selling award winning real estate bloggers with 2759 unique visitors.

Sharky said...

Well now, here's something you don't see everyday:

" Oh well, Internet strangers don't make my house payment. Satisfied employers and clients do."

Is that an "Asskisser's Manifesto" or what?

I'd just hope the employer doesn't want his toes sucked and his salad tossed, my li'l "Employee of the Minute" candidate.

BTW, when everyone from above starts giving you chops, you'd best spruce up your resume.

Just sayin' "award-winning footrub specialist"

Anonymous said...

Like I told all of you and you ignored me:

1) Casey would be back

2) Galina is guilty as sin.

Do you know see how these poeople operate? They are both crooks.

Casey Fannnnn said...

You guys who frequent EN have a staggering number of advanced degrees and credentials among you, so my college dropout knowledge must necessarily pale before yours. That means, of course, you have intimate familiarity with Thanagarian logic, which dictates:
Casey+Galina+plen
Casey+Nigel+pooner
plen+pooner+peener
peener>{Vap-Ö-Rub}*z¤rn·ASHBACK
ASHBACK-plen+koi
koiXpeener{Vap-Ö-Rub}+Esoterica Cream-ASH
<>**then ASS
+ASSBACK (baby's g.o.t.)**SwabMeWithASpoon--grace*dignity--smartz
/////////////////////////////
===deliberate fraud, but not the on-purpose kind of deliberate
------------------------------

It's a damning, elegant equation.

Also, I think it has something to do with Bible junk in the holy trunk, but my math ain't up to that level of Nigelian gaym theory.

Anonymous said...

Anyone have any opinions about investing in ETF (exchange traded funds) based on real estate, such as the Dow's IYF, which is based on REITs? Is it a useful insight into the RE market at a given time?

Lou Minatti said...

I could care less what Assmunch says. Why is anyone still talking about him? Caseyland is where the comedy pot 'o gold lies.

caseyNOTcasey said...

Good Evening Dawg and his puppies,
I have been enjoying IAFF more than ever lately.

The ZEWG dude nails it:

"#126. zweg
June 7th, 2007 at 12:52 pm

Someone at EN asked the EN community to boycott IAFF. Too funny obviously they can’t. Loosers. Their posts here are so obvious. Gee your 15 minutes of fame are almost over. I am never coming back to IAFF. Whatever. We all know you dont have anything going on in your life’s and, errr… your commentless personal blogs."

-cNc

lawnmower man said...

Speaking of blowhards: LossMitPro goes nuclear:

In a very short time each and every post under the nom de plume (pseudonym) of LossMitPro, will vanish from IAFF… Poof! And if they don’t then Casey will see a side of me that’s not so pretty, and this site itself may go poof once again! (Yeah, it’s like that; give me the power of Subpoena and watch what happens to our golden boy? Methinks Casey knows better, but I’ve been wrong about him thus far – he may just decide to play me further for a fool.)

Sharky said...

lawnmow:

Can LossMitPro do that?

It's Casey's blog, after all, and he freely posted there.

Don't those posts belong to Casey now?

(Fair Use and all...)

Sharky said...

Hmmmm;

Did LossMitPro just blow his cover?

"Wow, perhaps I haven’t… Albeit what you fail to grasp (no wonder, considering the plain orificial placement of reason) is that those (eight) lenders have (or will) sustain losses, significant ones! Thus my function was to correct lender losses in-full, pursuant to Mr. Serin’s purported (albeit apparently erroneous) representations of `paying back every dirty penny.’"

This sounds like he was a lender's "private dick", trying to sniff out how deep the stink is, huh?

"my function..."

Hope the Hobbit has his boarding pass for that night flight to Ubekistan!
The wolves might not be AT the door,,,they might have already been inside the house!

KC said...

LOL! This is a new angle we haven't seen yet which is the quiet/mumbling talkcast advice giver LMP is now about to go nuclear on Casey

lawnmower man said...

Nah, I think LMP is just saying "I was doing what Casey told me to do". His tortured writing style doesn't help much, though.

Mark, when you're ready, EN is waiting for you. And you sound about ready. Come home.

Lost Cause said...

LMP was unable to take money from Casey for ethical reasons -- meaning someone else was paying him, and he could not represent both sides.

ratlab said...

What the hell was Swaby's post about? It's good, it's bad, good is better than bad. Is that an accurate summary of his drivel?

Has he not been watching the market the last few days? It's as if his entire post is hammered together with soundbites from various MSM sources that conflict along with his generalizations. Take a fucking stand Swaby! Show your intelligence. Show your analysis acumen! Stop sounding like the lost saleman that you really are. You don't even understand what the fuck you're selling half the time.

Sharky said...

Posted to IAFF;

(in case Snowfake decides that I'm "disrespectful"...moi??!!??)

"Hey Kid;

No hard feelings thgat you didn't post my poem, it's posted elsewhere, as will this comment.

From your thread below:

"Wow, perhaps I haven’t… Albeit what you fail to grasp (no wonder, considering the plain orificial placement of reason) is that those (eight) lenders have (or will) sustain losses, significant ones! Thus my function was to correct lender losses in-full, pursuant to Mr. Serin’s purported (albeit apparently erroneous) representations of `paying back every dirty penny"-LosMitPro

How much do you know about this guy, kid?

He claims that he met and took you out to dinner, he said nice things about both of you in the comments here.

And what else?

Because from this it sounds like it was his JOB to win your trust:

"...my function was."

Did you invite the paid snoop into your hole, little hobbit?

Good thing you emigrated, you would have had a long career as a chemist back in the old country, under the old regime, y'know?

Remember when, early on in my feeding here, when I told you WHY you'll never survive prison?

That strange convict will come over with a pleasant smile on hs mug, talk nice with you, maybe give you a cigarette, you'll thank the Lord that you've made a "buddy" in this cold harsh and dangerous place...and by nightfall he'll OWN you.

If LossMitPro is what I suspect he is, you just fell for a Jedi Mind Trick that I'd warned you about MONTHS ago.

Good Things are coming, buckaroo!

But NOT for YOU!

asw: sweet"

Dolph said...

Ratlab,

Swaby's post is no different than those pumpers on penny stock boards who say "To the moon" and "dollars soon!" when the thing is sub pennies and barely going up.

He's a pumper for a pollyana-esque view of the economy that is NOT very well researched NOR is it correct in it's assumptions.

Sharky said...

lawnmow:

"Nah, I think LMP is just saying "I was doing what Casey told me to do". His tortured writing style doesn't help much, though."

Ahhh, but his "function was to correct LENDER losses"

not Snowfake's.


And while LMP might be a bit prolix, that might just be a function of someone who is keeping a "cover"...self-editing their writing to an abnormal degree.

I've had German-born friends, 1st
generation immigrants, who had to learn English.

They'd sometimes speak like LMP writes...comes across as verbose bullshit until you realized that not all German translates into American.

That's one of the reasons Germans have the rep of "bluntness"...there's a whole bunch of "softener words" that just don't translate,(and truth be told, they ARE a blunt folk).

Dolph said...

Hey Loss Mit Pro,

I know you visit here so hear me out.

NOW do you understand why we all "hate" on Casey? He's a game playing manipulator who is not very good at anything in particular.

He sure is playing you and I am happy to see you are no longer taking it. Keep in mind, since you use a NOM DE PLUME yourself, you'll have a hard time convincing a court to pull down any satirical or mean spirited imitators. If that was possible, blogs wouldn't exist as it happens everywhere. I am by no means approving of it, but it's the way of this world, unfortunately.

If I were you, I'd cut ties to Casey right now and come here to tell your story. Not only will you find a bunch of people willing to listen, but you will find we aren't so bad.

We don't like hypocrites and we don't like people who think their shite don't stink.

Just my 2 cents. Now back to seething in hate (OT - will I now be quoted on DHC as being full of hate? Nigel thinks if you utter the word hate you must be full of it...har har har - Skewed logic is a funny thing in folks who can't read between the lines).

Sharky said...

dolph;

Well, if we never hear from LossMitPro again, that should tell us something, huh?

Sprezzatura said...

well said Dolph.

lawnmower man said...

@Sharky: Ahhh, but his "function was to correct LENDER losses"

I don't buy it. There's plenty evidence enough that Casey committed fraud; why would a lender need to send a cuckoo into the nest?

I still read it as he was working for Casey. When he says "my function was to correct lender losses", he means just what he explained in the fraudcast: the mortgage lenders that Casey defrauded have to be settled with -- ie their losses corrected to their agreed satisfaction -- before Casey can safely go bankrupt and stiff his unsecured lenders.

But really, either works for me. Either Casey got taken yet again; or Casey yet again burnt an associate offering help. Itsallgood etc etc.

Anonymous said...

WTF...can you troll any more then that ????

New IAFF post:

Why I am Facing Foreclosure is Back

I can’t go into too much details but basically one of the main reasons this foreclosure blog is back up is because my publisher is forcing me to keep blogging. The publisher threatened to sue me for breaking our contract. If you remember I started working with an independent publisher on my own foreclosure book to tell my story in great detail, and share lessons on foreclosure and real estate investing…

Well, part of the agreement is I keep the blog going because that is my main marketing platform for the book. Since I pulled the plug without telling the publisher the publisher got pretty pissed off. The publisher has already done a good amount of work on the book and has invested money, reputation with the vendors and a significant amount of time. The publisher understands my personal issues but a contract is a contract.

I don’t need any additional legal issues on top of what I’m already facing with the foreclosure consequences and all that. So I worked out a way for me to get this foreclosure blog back online and keep blogging to meet my obligations. I may be able to share more about all this at a later date. Again, I have to be careful what I say because I DO have a non-disclosure agreement signed with the publisher.

On top of that some CRAZY things have been happenin’ lately. I wish I could say more…

ratlab said...

Dolph,

Speaking of penny stocks, when I was in college, there were apparently a few kids that were using the public computers in the library to pump up penny stocks by talking them up on Yahoo message boards. The SEC finally got them. I heard they were making a killing up to that point.

dripped said...

publisher threat > divorce threat.
haha - this guy is such a chump.
nice scoop rboy

dripped said...

So, he is afraid of being sued by publisher (what would they go after?)... and publisher requires that he keep blog alive to actually promote the book... this means that has cornered himself in that he can't even sell the domain.
This guy just makes bad deal after bad deal. But at least the entertainment continues. Looking forward to talkcast buddy.

LossMitPro said...

Dolph @ 11:48 PM:
”...Keep in mind, since you use a NOM DE PLUME yourself, you'll have a hard time convincing a court to pull down any satirical or mean spirited imitators.”

Not to be disagreeable, but there’s more to it than Alter Ego considerations. And while it may APPEAR Casey if shielded by cases such as Stratton Oakmont vs. Prodigy & Batzel vs. Cremers; it only appears that way at first glance (each case dealing with ISP liability qualifications).

California Bus. & Prof. Code §17200 is very applicable in this instance (given contractual elements I’ll not get into), but there’s more than one way to skin a cat (forgive me Sputnik, wherever you are). I needn’t litigate to gain satisfaction; I only need know which buttons at Casey’s various lenders to push... And while Casey is reckless, he’s not completely stupid -- appearances not withstanding.

There is an object behind what only appears to be my madness, rest assured. Let’s just say for the time being; Casey knows I can hurt him, where, and to what extent. Yet time will tell if he forces my hand.

If his “publisher” desires a defense of that, so be it... Goliath thought he was pretty hot chit too, and look what happened? ;)

~Mark

JohnDiddler said...

LossMit's motive is same as the motive of all the rest: latch on to this high-profile screw-up. LossMit's probably the most cogent person to try. I'm still indifferent to him. I think loss mitigation is an interesting field. Certainly it's a relationship Casey needed months ago. I do think that whereas Nigel tripped up on just how much he truly needed from Casey, and Duane cracked at Casey's leaks and textbook faked bidding war, LossMit understands deals better than that. If he wants to flex anti-satire isp liability, that's fucking dumb. Barking up wrong tree there. But anyway, allude to firepower, kiss up, call yourself toughguy, do that thing you do. You're one in a long line of supporting cast.

LossMitPro said...

Gee Mr. Dididididider, guess you got me all figured out. But then, truth of the matter is I’ve CONSISTENTLY avoided the spotlight, and have taken great issue against it! Pretty odd behavior for one seeking publicity, but then know it alls seldom view anything for simplicity. Don’t believe me, well, tough -- get over it? Life isn’t always as one sees the world; sometimes it’s more genuine.

...I was simply attempting to do what I do best, with NO EXPECTATION of return (monetary or otherwise)? Hmmm, foreign concept to some I suppose yet still nonetheless truth. But then you’ve got me all figured out, so what’s the sense in going into the details?

As far as being the “Internet Tough Guy,” that’s a moniker others put upon me. But if knowing how to and actually defending one’s interests is a bad thing, whether or not litigation is concerned? Well, then color me a bad guy.

Although I suppose it’s a good thing some whom frequent this blog have done the research, and KNOW I can and have pulled the legal triggers before. So whatever the legal alternatives at my avail, they are far more than idle chit-chat. ;)

~Mark

Orson Buggy said...

Um, Snowflake, in his most recent post, said "...a contract is a contract." What I'm wondering is "How is this contract different from all other contracts Snowflake has signed?" Should I break out the unleavened bread and slouch at the table also?

Sweet Cashback said...

Little Icarus here was told to stay away from the sun but didn't listen. Got burned like all the others and whines about it.

I guess you don't like getting in line with all the others that snowflake screwed over. The line is to crowded? Please feel free to join us but loose that "internet bully" attitude. Try your best at getting at him and we will cheer you on but don't show yourself as one of these internet litigation as*&^&^*. Nobody likes bullies...

KC has nothing to loose at this point but his book deal. Only that means $$ to him at this point. He doesn't care about anybody but him. That he screwed over EVERY business relation he had when it was in his interest or when he is in his delusional state.

In my view, KC will always win against ANYBODY that is not a judge in court. He has NOTHING of importance to loose and is on a rampage.

StephanieS said...

LossMitPro, I'm confused...

Are you asking Casey to remove all references from IAFF?

If you are not expecting any comp then what are you offering Casey..Help with his outstanding loans?

Does the publisher contract conflict with what you were trying to help him with?

Sorry, just trying to keep up here...

TK said...

Casey views contracts like he views any other commitment.

He will hang with whatever contract suits him for the moment to suit his immediate needs. But like anything else, he doesn't want to commit to anything lest something better come along. And whether or not something better comes along, certainly something different will, and the effect is exaclty the same.

I'm surprised Casey doesn't sleep around - he's proven he has so little self control when it comes to staying with anything, it's frankly shocking to me that having sex with the same woman. That has been the only thing he's been able to accomplish - assuming they still have sex, that is.

Northern Renter said...

Orson Buggy @ 4:52 asked
"How is this contract different from all other contracts Snowflake has signed?"

Well Orson, based on the years of contract law that I've never done, previous contract work implied a promise that Mr. Serin would pay money back to the lender. Consequently, based on the principles first enshrined in Today v. Tomorrow, the contract becomes null and void following receipt of funds by the second party (Mr. Serin). This contract, on the other hand, involves a possibility of future payments to Mr. Serin and thus represents an iron-clad deal to which the first party (Vanity Press Inc.) must adhere.

Best wishes,

NR

FlyingMonkeyWarrior said...

@ lawnmower man and @ Steph,

Yea, what is LosMitPro's Problem?
We all told him what would happen, so why is he threatening Casey when he was working for FREE?
No skin in the game, no legal damages, right.
I am obviously missing something here.
No one gets their boxers that much in a wade when they were just "helping" and the recipient does not accept the gift.
?????????????????????????????????

flailing forward said...

Although I suppose it’s a good thing some whom frequent this blog have done the research, and KNOW I can and have pulled the legal triggers before. So whatever the legal alternatives at my avail, they are far more than idle chit-chat. ;)

Holy crap, so are you saying that you're the charity-suing forest ranger? I figured that was somebody else. This story just gets weirder and weirder.

I agree with everybody else that suing Casey to remove references to "LossMitPro" is stupid and wouldn't hold up in court, but it doesn't have to. If LMP goes through with it, it's not going to be worth the hassle to Casey, and he will remove them. It's a nuisance lawsuit and bullying, but it will probably work.

LMP, what is your goal here? You say you don't seek the spotlight, yet you contacted Casey, you commented on his blog, guest posted on IAFF, and post over here under your sacred "nom de plume". If you don't want the spotlight, then the solution is simple: shut up and go away. You've hyper-defended Galina, and said you would help Casey for free. Now you want to sue him?

I've been wrong many times before, but you come off as an attention-needy psycho.

FlyingMonkeyWarrior said...

@ LosMitPro,


I see now that you are here, should have read the thread before posting. So, again,
Yea, what is the Problem?
We all told him what would happen, so why are you threatening Casey when you working for FREE?
If you have No skin in the game, you have no measurable legal damages, right.
I am obviously missing something here.
People do not get their boxers that much in a wad when they were just "helping" and the recipient does not accept the gift.
?????????????????????????????????

R-Boy said...

LossMitPro,

Welcome.

The only way Casey will ever learn anything is if he finally faces consequences.

Let loose the dogs of war and cry havoc. I for one would welcome any efforts on your part to bring some consequences to snowflake. It may be the only way to help him, and his family, out of this mess

Lou Minatti said...

"Again, I have to be careful what I say because I DO have a non-disclosure agreement signed with the publisher."

But that hasn't stopped him in the past.

FlyingMonkeyWarrior said...

Let loose the dogs of war and cry havoc. I for one would welcome any efforts on your part to bring some consequences to snowflake. It may be the only way to help him, and his family, out of this mess
______________
@ R Boy,
Sometimes you have to DRAW ME A PICTURE.........
What is LMP upset with KC about?

Astro the Wonder Dog said...

At 5:20 AM, flailing forward said...

" Holy crap, so are you saying that you're the charity-suing forest ranger? I figured that was somebody else. This story just gets weirder and weirder."

Yup, He is the one who wants his domestic dog to be allowed to run free, disturb wildlife, ignore federal park regulations, taint pristine 'no touch' wilderness ('pack it in/pack it out/leave no trace) and turn it into a suburban doggie park.

That's the guy alright.

And he is threatening to sue a guy because the guy won't take charity from him?

Too rich. I wonder who will play the Mark Anthony Villasenor AKA Loss Mit Pro character in Casey's film...?

king friday the 13th said...

> There is an object behind what only > appears to be my madness, rest
> assured.

So, Mark, does Galina have the clipboard in your fantasies too?

LossMitPro said...

Sweet Cashback @ 4:58 AM:
Little Icarus here was told to stay away from the sun but didn't listen. Got burned like all the others and whines about it.”

Who’s whining? You folks warned me, I took a shot believing (and still believing) credible and effective mortgage resolutions could be provided for Casey. It’s a case of `fool me once, shame on them; fooled twice, shame on me.' I’m certainly not whining about it, I take responsibility for the outcome. My bad, sorry if that offends any of you; but I was doing what I thought was the right thing (given Serin’s representations).

...Think I was asked to post here, wasn’t I??

As far as me being a bully? Please, stop it; you obviously haven’t the benefit of behind the scenes info. If you did that notion wouldn’t enter your mind, whereas, I am far from being a bully -- rest assured.

StephanieS @ 5:00 PM:
If you are not expecting any comp then what are you offering Casey..Help with his outstanding loans?”

Yes, but primarily concerning the mortgages. I hadn’t intended on dealing with the unsecured debt (other than those mortgage related), as those should be handled otherwise (by other professionals).

Here’s a little clue as to why I’m so ticked...

I pulled a few strings with certain mortgage lenders (VP management types) to pave the way for amicable settlements, full restitution of Casey’s accounts. I represented to these lender folks, that the IAFF blog was no more (after he took it down) and that Casey was seeking W-2 employment. All is fine; lenders’ felt good about that (not considering a “blog income” sustainable long term).

Then, from out of the blue, I get the rug pulled out from under me by Casey relaunching his blog! I hadn’t a clue he was about to, was unaware of the supposed “publisher” contract, and made representations to lenders in good faith. Now I look like the horses ass, in those lender eyes, having set-up the possibilities under what look like false pretenses.

Long and short, Casey was cautioned about pulling fast ones without my knowing the details as those might conflict with my lender dealings. Well, guess what? So long-n-short, yeah; I’m a little pissed that I called in a few favors (to open the right doors), only to learn Casey had other intentions.

The reason I asked Casey to take down all of “LossMitPro’s” posting, is because those have already been associated with my real name and practice. Naturally, it’s a matter of damage control wanting to limit my involvement with this guy as much as possible from here on out! But if I have to go another route to make those posts be gone, I may.

Again, I’m not whining. You asked, I answered.

~Mark

Astro the Wonder Dog said...

Mr. Bad Ass Behind a Monitor says:

"As far as being the “Internet Tough Guy,” that’s a moniker others put upon me. But if knowing how to and actually defending one’s interests is a bad thing, whether or not litigation is concerned? Well, then color me a bad guy."

What a complete tool.


MArk, YOU are the one that 'colored' yourself as exactly what you are -- a losing, money-grubbing, attention-seeking hanger-on, who would not listen when people told you that the chick you were eyeballing, who we all knew had clap,craps, herpes, gonorrhea, and a bad habit ofmaking off with the wallets of thier "dates" was someone you should avoid getting 'romantically' entangles with. And now that you have a strange itching in your crotch you are making all kinds of indignant noise about how you are shocked, SHOCKED, to find Casey is anything less than honerable. You will forgive us if we just laugh at you in your face. In public.

Ha Ha. He he. Har har.

Go ahead, LOSS MITIGATION BOY, sue him. We triple double dog reverse dare you to.

We will be watching Mr. "The legal system is my personal Bee-o-tch."

Be sure to post the filing references here on EN, 'kay, sweetie?

FlyingMonkeyWarrior said...

Thanks for that answer LMP. I would be really pissed off too.
I understand now.
Good luck and go for it with this Haterz blessings.

FlyingMonkeyWarrior said...

PS,
Please keep us in the know as things progress.

flailing forward said...

Thanks for the explanation, Mark. I can see why you would be pissed. It's just par for the course at Club Casey though. The kid will never learn.

Astro the Wonder Dog said...

Idiot of the Moment whined:
"I was doing what I thought was the right thing (given Serin’s representations)."

No. You were not. How can this august body of a helpful Internet community have made it any plainer for you, you freakin' Moron? Here is what you do based on Casey's representations:



























Any questions?

Nigels Mom said...

Nigel says "and stocks are it"

Over the next 3 days the DJIA loses 400 points.

Draw your own conclusions....

LossMitPro said...

“Astro the Wonder Dog...” Hmmm, must be a debtor I slammed in a past life. Oh well, there’s one in every crowd. :)

~Mark

Anonymous said...

LossMittRomney,

Welcome to Haterland. It's been clear for a very very very long time that Snowflake never has had any intention of repaying any of his debts.

I'd like to think now, post-Duane, post-LMP, et al, it's pretty obvious that no good can come from trying to associate with this guy.

FlyingMonkeyWarrior said...

@LMP,
Yea, we did predict all of this a couple of weeks ago, so I guess we can say told ya so.
I know I posted same right here, you probably read it.
Does no good for anyone now.
Another question LMP:
What WAS in it for you, IF, and IF is a big word in Casy's business dealings, but IF things had gone as you planed?

Anonymous said...

LMP,

On the subject of Galina, do you think she'd be good in bed, or not?

flailing forward said...

LMP,
FMW is right, some background on the story would be interesting. As in, what you hoped to accomplish, how you planned to accomplish it, what you would have gotten out of it, etc. If you were legitimately trying to help him, then this is yet another example of Casey screwing the pooch.

But as others have said, it's been apparent for quite a while that Casey never had any intention of paying back lenders, and is only interested in maintaining the appearance that he intends to do such. By you setting up a restitution plan that would require any kind of sacrifice on Casey's part, it was guaranteed that Casey would blow you off once he found a suitable replacement backstory (this time, it's the book publisher.) Rest assured that should the publisher ever require any effort on Casey's part, he will burn them and find a new source of plausibility.

lurker said...

I believe there is a real value to the person who can pull ethics from Casey. It is a task very similar to pulling the sword from the stone. Only one person in all the land is capable of it and when they do, they will be crowned king.

LMP was merely the next knight in the line to try. He is a little more litigious than others, but he gave it a shot and is leaving defeated.

FlyingMonkeyWarrior said...

@ lurker,
Nice metaphor.

lurker said...

People we don't have dogs of war here. Dawg is a gentle beast unless he is defending his turf.

We have Nazi Lesbian Midget Trolls of War. They serve the same purpose but are a lot more entertaining.

tosshitpro said...

Hahahaha at losmitpro. You such an arrogant asshole! Embarrassed now?


Good! Should have gone with your first instincts when casey said "Hey, I could use someone like you!"



HaHaHa, couldn't happen to a more deserving guy!

lurker said...

Out of curiosity, what is the publisher going to sue Casey for?

Money?

Bwahahahahahahahaha


Specific Performance?

Bwahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha


Galina - Casey is manipulating you again.

Endgame said...

Mark / LMP,

Thanks for sharing some of your story and reasoning with us. Sounds like you've been screwed, like others, in very typical Casey fashion (empty promises, hidden agendas, conflicting other promises, broken promises, nasty suprises). SOP for KC.

Sounds like you have every right to be PO'd. So, please continue to hang out here, converse, vent, whatever helps.

My personal opinion is that you and Duane can help stop his insanity by continuing to be open about your dealings with KC.

Astro The Wonder Dog said...

LossmittPro:

'Boo Hoo Hoo, I had no idea Casey would be so...so...so...*mean* to me! (sniff, sniff, bawl)'

Ohrely?

http://www.google.com/search?q=lossmitpro+warned&hl=en&safe=off&filter=0

'"As far as me being a tough guy, I am far from it , nicest guy around...'

Ohrely?

The Internet NEVER forgets. You came on as if you were some hot-shot lawyer, threatening bloggers with your awesome legal sword if they breathed a word against him... remember that? Google does!

"Did not know what I was getting into... no personal interest.... "

Ohrely?

Casey Serin:
Hear From a Former Manager of the Collection Department Tonight

A loss mitigation specialist and associate of mine (goes by “LossMitPro” on the web) agreed to be on the show tonight. He will help me tackle some of the questions about debt and consequences from foreclosed houses.

He now helps people who are facing foreclosure by negotiating with the banks on their behalf. His experience and expertise comes from being in the collections industry for over 15 years - both as a collector and manager of collection department.


Mark Anthony Villasenor:

"It’s important to make clear helping people like Casey is my job; it’s what I do for a living."

And:
#Having been in the (mortgage) asset recovery business for over 20 years (in Executive Management now), I am compelled to comment on the ‘Casey go to jail’ sentiment. Simple fact of the matter is no matter how one slices it; the lenders involved knew what young Serin was doing… Underwriting personnel are not stupid, folks, they know the “liar loan” game (and on occasion play it themselves)!

Foremost there are systems in place to verify certain information given by a borrower, and compliance with those were clearly evaded in the case of Serin. Moreover, lending guidelines make such loans possible; all in the name of increasing portfolio pools and consequent profits. No doubt in my mind lenders concerned in the Serin saga, are not entirely blameless.

Anyone whom believes that a 23 year old kid can acquire 2+ million in credit, through lying about income and such; either doesn’t know how mortgage operations REALLY work, or has an ax to grind against this kid for other reasons. Yeah he could (possibly, maybe, might) get prosecuted (uncertain given the time frames); albeit prosecution and conviction are two different aspects… Check out the clean hands doctrine, detractors? It applies in criminal cases too.

Casey Serin may be gullible, foolish, a little arrogant, and possibly down right lazy yet the kid hasn’t done anything hundreds (if not thousands) of other borrowers have (albeit on a singular basis) — lied to get a mortgage approval they otherwise would have been denied.

And I, frankly speaking, look with more distain upon those whom cast stones at Mr. Serin for doing what they’ve either done themselves or wish they had the guts to. Comment by LossMitPro | 04.22.2007 | 4:06 am



At 7:18 PM, LossMitPro said...
Gee Swabman, hadn’t you learned a lesson through the Duane incident about exposing inside information that gives yourself away? But then again, I suppose that entails a degree of smarts fools lack. Oh well, guess you can’t help yourself no more than The Hair Club could offer free trims.
~Mark

...in the interest of full disclosure I have agreed (of my own accord) to pay him {CASEY SERIN, SERIAL MORTGAGE FRAUD] a reasonable referral fee, for any of his blog visitors he refers and who become my client. That is only fair and appropriate, and perhaps why a certain SLC someone has seen fit to come unglued?


At 9:12 PM, Dumbfounded said...

@ LossMitPro

It is obvious to all that you are a Casey virgin. Don't worry, soon enough you'll be fucked up the ass like all rest that have associated with snowflake.

At 9:18 PM, LossMitPro said...

@ Dumbfounded:

That's funny! Thanks for the chuckle...

Mouse And Pencil said...

Well, well, well.

LMP, you tied your horse to the IAFF wagon, it's now your problem to untie yourself, the shenanigens that will ensue are of no concern to me. Sue to have a nom de plume taken off a blog? Go for it, Sparky, make a fool out of yourself in front of a judge.

Moving on, I still stand by my Constitutionally protected opinion of you, that you are no "tough guy", you are a coward.

You "made nice" here last time, talked all kinds of smack about how you were going to talk to Casey on his fraudcast, proceeded to make an utter fool of yourself there, then high-tailed it out of here saying 'make of it what you will". Which we DID, especially in the light of your new-found soapbox on IAFF where you could enjoy your slice of the limelight.

Now, after you've been burned by Casey, as you were *amply* warned, you want to come back here and still have a shred of credibility? NOW you want "safe haven" status here?

Sorry, homeslice, that don't play here. Perhaps you are a truly innocent player with good intentions, but your actions speak louder than words, bub.

I just keep an old saying in mind, about the road to hell. Remember that one?

Make of THAT what you will.

Endgame said...

lurker,

Yes, excellent point.

KC has been facing the possibility of lawsuits from unsecured lenders, 1st mortgage lenders, 2nd lenders, Cashcall and others for many months now. But it doesn't seem to have affected his actions.

BUT, a publisher threatens to sue him (as you say - for what ?!?) for not blogging and he's back online RIGHT NOW! They pushed his blog attention whore button ...

... or he pretended they did. Yep, I'm SURE some Galina manipulation took place.

Poet said...

Thanks for the explanation LMP. I believe you.

Please don't help that guy anymore.

Fear The Murse™ said...

"Yes, we could be sitting on the eve of destruction with bears ready to pounce, or we may have Goldilocks with us for quite some time. "

Stocks could go up today or they could go down.

It could rain, or it could be sunny.

I could score tonight, or I could strike out.

IAFF could be up today, or it could be down.

Why does this twit continue wasting pieces of cyberspace?

Fear The Murse™ said...

Swaby's predictions are awful
Has he done anything that's unlawful?
The man in the pleather
Accurate as the weather
He now shall be known as The Waffle.

casey "fluff post" serin said...

Hi guys, I'm back. I'm honoring a contract for once! You should be proud of me! This time it's because the contract allows me to weasel out of my obligations in another contract. I wish I could say more, but I now am also conveniently honoring non-disclosure agreements as well. Be sure to check back daily to hear me vaguely hint that "crazy things been happening" and be sure to click a lot of ads while you're here. Due to the new substance-free format at IAFF, anything interesting will henceforth be discussed at EN.
Thanks!
Snowflake

Nigel Swaffle said...

Hey, you guys quit making fun of my waffling.

I have fish and stuff. So there.

Mouse And Pencil said...

But Nigel, you old queen you, waffling is actually something you could make money with, you could sell them on freeway offramps, alongside the fruit vendors.

(Do we need point out that waffles are not, in fact, created by the sun.)

LossMitPro said...

FlyingMonkeyWarrior @ 6:20 AM:
”What WAS in it for you, IF, and IF is a big word in Casy's business dealings, but IF things had gone as you planed?”

I had initially contacted Casey through Nigel, to interview him for a series I’m crafting for Real Estate agents (dealing with mitigating mortgage losses -- long term project). Casey and I spoke and he (not I) kept suggesting I look deeper into his cases, and offer suggestions. Well, it’s not that easy, he’s dealing with some complex issues.

Long-n-short, by helping Casey I was far more interested in the details than money or publicity. I was hoping to use my experience with his mortgage issues as case studies to bolster my RE Agent project, which (again) is a longer term project and speculative as to any profit. I felt it was a good trade off, considering Serin’s mortgage issues aren’t insurmountable -- they just need in-depth attention!

There you have it, plain and simple. Yes I wasn’t working for nothing, but was giving Casey my best professionally. I wasn’t getting paid in dollars, yet stood to gain some valuable insights. And, all-in-all methinks the latter item was achieved.

And Lurker? The only person defeated here is CASEY, quite frankly. Very few of the cases I take on end in failure, not that I’m “all-that” but because I have a keen knack of playing the angles (from a mortgage perspective)... Of course, knowing what lenders will likely accept and won’t helps a great deal too.

In any case, for those wondering? It was NEVER my intent to negotiate any discounts whatsoever, concerning Serin’s mortgages. All would have been set with payment plans for full restitution, correlated against Casey’s ability to pay. And THAT was projected at $1,000 per month for all eight lenders... Talk about sweet deals?

So yeah, Casey loses big time not I.

Mouse and Picel @ 6:48 AM:
”Now, after you've been burned by Casey, as you were *amply* warned, you want to come back here and still have a shred of credibility? NOW you want "safe haven" status here?”

Try and keep up, will you? I WAS ASKED TO POST HERE, read the thread above; it requires only a pittance of grasp, surely a feat even YOU can manage? Otherwise, get a life, if not a distinct clue you’ve serious Freudian issues. (Tell us about you mother?)

Poet @ 6:52 AM:
”Please don't help that guy anymore.”

ROTFL, not at you, just over the thought of my ever lifting a pinky to help our little Vegan ever again! ;)

... And Astro The Wonder Dog? What; did I repo your car, garnish your wages, tap your till? In any event, let me assure you; I’ve been told worse by better. Keep trying though, maybe that neurotica will dissipate?


~Mark

KC said...

What can anyone sue Casey for? Go ahead and take him to court. He is worth negative millions.

Mouse And Pencil said...

”Now, after you've been burned by Casey, as you were *amply* warned, you want to come back here and still have a shred of credibility? NOW you want "safe haven" status here?”

Try and keep up, will you? I WAS ASKED TO POST HERE, read the thread above; it requires only a pittance of grasp, surely a feat even YOU can manage? Otherwise, get a life, if not a distinct clue you’ve serious Freudian issues. (Tell us about you mother?)

I saw the posts you reference - can YOU grasp that not everyone wants you back here? Hmm? That not everyone trusts you, or even likes you? Just because you have the gall to come back here and prattle does not mean that I'm going to change my opinion of you.

By the way, for someone who wants their nom de plume disconnected to the drama you willingly plunged into, you sure are making sure your name STAYS connected to it. Interesting, that. I'm sure Freud would have MUCH to say about that. Anyone with a shred of self respect would be handling this offline, in private, where it belongs. Yeah, you're SO professional, airing private business laundry online. Yeah, I want to use YOU.

Freud? IF one buys into Freudian analysis, which I don't, you show you don't understand it.

I have issues with YOU, and how YOU act. That has nothing to do with any 'mother issues" or any other Freudian prattle, it has to do with YOU. Nice try at deflection, but it won't sell here.

PS - you WISH you had my life. I've accomplished things people only dream about, and I enjoy my life immensely - which includes being part of the Greek Chorus here over morning coffee and on breaks at work.

Figures you'd fall back on the "get a life" attack - those with nothing to stand on generally do. Next, you'll probably accuse me of being a virgin, or something silly like that. *yawn* Peddle your bullshit elsewhere.

Astro The Wonder Dog said...

Mark Anthony Villasenor, AKA LossMitPro, AKA the idiot who threatened Casey's detractors with legal action, then threatened Casey with legal action, then threatened Casey's detractors with legal action, and is now unhappy with Casey and his detractors... said:

"There you have it, plain and simple. Yes I wasn’t working for nothing..."

So.

We have established what you are.

We are just haggling over price now, eh?

lurker said...

@LossMit

By defeated, I meant you were unable to pull ethics from Casey. That is the norm, you are merely a mortal after all.

$1000 a month to pay off all the lenders? That sounds like Nigel numbers. The lenders lost about $500,000 (unless you were planning on stiffing the second mortgages). At $1000 a month even with 0% interest, it would take 40 years to pay off. And $1000 a month is big money to Casey. You know the industry better than I, but I think your numbers are pipe dreams

Sac RE Agent said...

Hey LostPro, how could Casey ever pay for "full restitution"? Where in the hell does he have any kind money near the amount needed? Please explain further.

LossMitPro said...

Mouse and pincel @
”PS - you WISH you had my life. I've accomplished things people only dream about, and I enjoy my life immensely - which includes being part of the Greek Chorus… [yada, yada, yada…]”

Yeah ok, you’ve established you’re bitchin; I’m not. Albeit, I’ve never aspired to sing with a “Greek” chorus; men in tights aren’t my thing, thanks. But hey, if that’s your bailiwick, knock yourself out!

Lurker @ 7:32 AM:
”1000 a month to pay off all the lenders? That sounds like Nigel numbers. The lenders lost about $500,000 (unless you were planning on stiffing the second mortgages). At $1000 a month even with 0% interest, it would take 40 years to pay off. And $1000 a month is big money to Casey.

Well, the grand a month was a projected tentative interim fix for 48 months. This would have allowed Casey time to perform on his “sweet deals” (and pay more toward principle, pursuant to contract) after which payment upon related balances could have extended (at the lender’s option) or collections pursued.

Moreover, I calculated Casey’s actual responsible loses to be around $350k (estimated number), after liquidations but we never got far enough into the process to determine hard and fast numbers. So you’re $500k take could be just as accurate.

Think of the end of this 48 month term to be a call period, where Casey would have had to put up or shut up; facing eight (effective) balloon payments. Remember this was always intended to be an interim plan, to give Serin some time to perform (walk-the-talk) such as with this publishing deal?

The aim here was to get all mortgage lenders under a coherent repayment plan. If Casey failed (within or) after that, they still have options. Not much else a lender can do with a guy that has limited resources, other than toss him in jail... And court orders for restitutions wouldn’t fair much better, all things considered.

~Mark

Mouse And Pencil said...

”PS - you WISH you had my life. I've accomplished things people only dream about, and I enjoy my life immensely - which includes being part of the Greek Chorus… [yada, yada, yada…]”

"Yeah ok, you’ve established you’re bitchin; I’m not. Albeit, I’ve never aspired to sing with a “Greek” chorus; men in tights aren’t my thing, thanks. But hey, if that’s your bailiwick, knock yourself out!"

Yup. that's what I thought. You got nothing, so you attack by questioning my sexuality.

All the while, avoiding the issue.

Real class act you are.

StephanieS said...

Everybody just needs to calm down...

@LossMit
Thank you for responding...A few more questions?

Why would Casey agree to pay back the lenders? The foreclosure's would clear up any outstanding loans? At least that was my understanding about the type of foreclosure's he has done...

Also, does he or doesn't he own 50k to Countrywide?

Hobbes said...

Hey LossMitt, you still holding to the opinion that people who hate Casey do so because they wish they had his guts?

Like you said on a blog somewhere a few months ago?

And be a little less prolix, like Rob said. Did your word of the day calendar have "albeit" on it recently.

Mouse And Pencil said...

@Steph
Aw, man. You never let us have any fun. Fine.

(I pretty much proved what i wanted to, and as usual he's oblivious.)

lurker said...

@lossmit

Good answer, I think Casey would have failed to get his act together in the 4 years, but he would have had a shot at it. I have no idea if $350K or $500K is the real debt.

Sac RE Agent said...

Thanks for the response LossPro. Something being paid back is better than nothing. In Casey's defense, what would have been the benefit to him? His credit is f&*ked for a few years. The foreclosures will stay on his credit report. If lenders aren't going to prosecute him for loan fraud, he's a free man. I'm having trouble seeing where is the win win for our buddy.

flailing forward said...

LMP,
Just curious as to why you didn't recommend bankruptcy as Casey's best option. Casey making full restitution doesn't seem particularly realistic, and as you yourself have said, the banks likely have some culpability in this mess. You said that in reference to why Casey would not likely go to jail. However, if they are reluctant to press charges due to their own complicity, then why should they not also eat some of the loss?

I see no reason why a bankruptcy judge would not let Casey out of the entirety of his unsecured debt, and from the sounds of things, the only way he can be permanently stuck with his secured debt is if those lenders level charges of fraud. Assuming that only a few of his lenders might actually take it that far, is it not likely that he could walk out of BK proceedings with only the deficiencies on a couple of homes hanging over him?

That would mean seven years of moderate financial hardship for him opposed to what would probably take the rest of Casey's lazy ass life to make full restitution.

Anonymous said...

Nigel doesn't know a damn thing about the economy.

He tries to play it off like he does with stupid little subjective stories that are bullsh#t anyways.

It's amazing that a Olympic pin salesperson could become a Real Estate and Economicists in 2 short years!

F@ck Nigel and his hot tips!!

Anonymous said...

I can't even spell economist right cause I'm so pissed at this pleather azz morman.

flailing forward said...

@ 8:36
I'm pretty sure he just meant the hamburger sector. And as we all know, the hamburger and housing sectors are closely correlated.

LossMitPro said...

Mouse and Pencil @ 8:05 AM:
”…that's what I thought. You got nothing, so you attack by questioning my sexuality.

Whoa, hold up there Haus; who attacked or questioned your “sexuality?” Although if my comments struck a nerve, hey, deal with it: closets and wire coat hangers notwithstanding. Other than that you may want to try lightening up a little..? (Geeze, and people say “I” take things too seriously???)

StephanieS @ 8:10 AM:
”Why would Casey agree to pay back the lenders?

For many reasons: 1) that would give him a clear break to deal with unsecured creditors more effectively; 2) he’d gain great authority toward his long-term goal of making a name for himself in Real Estate circles (a creditable name that is, not just one as a loser); 3) the issues wouldn’t follow him in an uncontrolled way (sneaking up when he least expected it); 4) because he said he would, and promised the world as much (myself included); and, 5) paying back the lenders would be a natural (but not a certain) defense to mortgage fraud. Doesn’t mean the latter would have prevented fraud charges, only that he would have demonstrated a TRUE willingness to address the issues without court compulsion. He could still be prosecuted, even if financial deals were cut. (One cannot bargain away a crime with this much light on it.)

Casey owes Countrywide more than $50k.

Flailing Forward @ 8:36 AM:
”…as you yourself have said, the banks likely have some culpability in this mess. You said that in reference to why Casey would not likely go to jail.

Well, not likely, but that’s speculative. The safest bet is to deal with the lenders to address their losses, and let the chips fall where they may. Remember the lenders (their agents, staff, et al) aren’t out broadcasting to the world that they participated in fraud loans; Casey is. He’s the target, not the lenders irrespective whatever culpability they may or may not bear. But that’s a defense lawyer’s thing; mine was simply to cut the deals.

As far as your BK questions, well, you’re getting into some areas that I shouldn’t address. That’s what lawyers are for. But let me just say that even after filing a BK, Casey has dug himself a hole by being so vocal about his exploits. BK at the wrong time could trigger all sorts of nasty things with respect to mortgage lenders, which I’m sure Bubba (the jailhouse enforcer) would relish.

Perhaps we can get into these another time, when I have more time to phrase appropriate answers?

~Mark

flailing forward said...

Ok. I'm just curious to hear your take on specific parts of the various processes. I have no legal background at all and I'm trying to get a handle on what kinds of things could or could not happen and why. Maybe I shouldn't have phrased it as what you would advise Casey to do. I'm really just looking for answers in more general terms.