Remember John Devaney from a previous post? Good news. His yacht "Positive Carry" and Aspen Aspen home are for sale. According to the yacht broker's listing, the yacht has accommodations for 10 passengers in its five staterooms, along with space for a crew of seven. Its amenities include his and her baths in the master suite, and four guest bathrooms with Jacuzzi tubs and showers and cherry wood interior throughout.
It has two 2,250-horsepower engines and a range of 3,500 nautical miles.
...
The Aspen Times reported in November that he bought that house, for $16.25 million, and that property includes a 16,000-square-foot main house and carriage house which include 16 bedrooms, 18 full bathrooms, two fireplaces, three kitchens and two caretaker bedrooms with bathrooms.
Perhaps some enterprising reader can make a package deal offer on both?
76 comments:
Rob:
"Perhaps some enterprising reader can make a package deal offer on both?"
Keep the yacht fully insured, then wreck it.
Use the proceeds to pay off the house.
Win-win
First build a jetty by the house, second, wait till polar melting makes it ocean-front property.
SAVE THE IMPLODE-O-METER!
goal: $50,000
Isn't that what he paid Casey?
I've been watching that too. I don't know Aaron Krowne and I don't have any info. I don't even know why the judge held the suit over or why Krowne wants IAFF. We need more before commenting IMO.
Only two fireplaces in a 16,000 sf pad with 16 bedrooms? I demand at least a 2:1 bedroom:fireplace ratio. NO DEAL!
New face in IAFF... Aaron has posted his summary on Casey's history.
I just checked at IAFF like Costarican...geez, that blog is gonna die faster than one of Casey's deals, or his marriage. What's he gonna do to keep the hits up..make up stories about Casey?
All this time we have been told by Casey (and lied to just like his wife) that "Good things are coming" and that "It's all good!" WE have seen him screw over potential partners left and right..we have seen him make the wrong decisions over and over again. That Steve Cook deal seemed like a good bet, except that Casey was "mesmerized" by the chance to meet Rich Dad, who pretty much told him he was an idiot. I mean come on Casey, Steve Cook was willing to fly you out to check the place out, and now we know that you pretty much begged someone to sponsor your trip to see Rich Dad.
I guess the most despicable act was the way he treated his wife. Look back at some of his earthblog posts where Casey said Galina was coming along fine with "the business". Like you would know Casey, you don't even know what your business was, no plan, no plan B, no job, no money.
The worst Caseyism is "I have always been entreprenurial even when I was young!" No casey, you have always been a sucker for get rich quick scams sine you were young; chain mail, fraud on the internet, vending machine bullshit, real estate gurus, illegal deals, cash back which you considered profit, a dumb book about your mistakes. Geez Casey, why don't you go gambling the write the "BlackJack Code" about how you were able to lose 100 grand playing blackjack and how others can avoid the same fate...ie..don't play blackjack.
Galina I wish you the best and stay away from this moron, he has abused you enough
Duane you are an honorable fellow in my book, and always have been.
Nigel, I laughed when I heard Casey say that you "brought nothing to the table" and when Marty said you weren't a "real businessman". Like those two charalatans would know.
Casey, everything that happens to you from now on..you deserve...hope it hurts
Will Aaron be the last victim? Hey, maybe Aaron has a master plan. Maybe with his suit he settles by selling IAFF to the lending group that is suing him.
Legion; good summary as we close out this chapter.
AHM is still not trading. The REITs are getting creamed in sympathy.
Check out Novastar. NFI is "up" 250% today. Oh, did I mention the 1:4 reverse stock split over the weekend? Staying even would be up 300% so 250% is actually down 12% or so.
Oooops!
Rob Dawg, forgot about you. Thanks for giving us Haterz a place to congregate. Sometimes I couldn't figure out why so many people were pissed about you leaking info and then not elaborating. It's the ME generation I guess. Everybody feels entitled, Casey is a classic case. People don't seem to understand that you and Duane OWED them NOTHING. Not info, not explanations, not apologies. Can you imagine how bad it would have been if they were paying a suscription fee? Lol.
As for Aaron, geez hasn't he been watching or reading? Everyone that touches Casey gets screwed over one way or the other.
I don't think Aaron has to worry about getting thrown under the bus.
The domain is already transferred to him, and he's controlling it now. At this point, there's nothing Casey can do to screw it up.
And here's some rampant speculation:
Is this the same Aaron that posed as "Michelle" to get Casey's Aussie cell phone?
http://www.caseypedia.com/wiki/Michelle
Hey Dawg...
The other day on CHC Duane made a post to Casey. If I recall correctly, he asked why Casey sold IAFF for less than he (Duane) was offering. If that is true & if Duane told the truth about his original offer, that means the blog went for less than 20K, US.
@Seb
"At this point, there's nothing Casey can do to screw it up."
If you think that, I guess you're new to the Serin saga?
Let me see if I have the politics of the board:
Casey, Nigel, Marty = Bad
Rob, Duane, Mark = Good.
Okay, I think I have it now.
@Bemused Guy
What is there left for him to screw up in terms of the IAFF transfer?
The money is presumably in Casey's hands, and the domain now belongs to Aaron.
Unless mark or Duane lawyer up and try to reverse the sale, I have a feeling this story is pretty much over.
I have a feeling the next time we hear about Casey is in the newspaper.
Hey Kidz,
Don't forget to play 6 Degrees of Casey Serin to The Cat in the Hat. It may be one of the last games...
@Seb
Casey can still screw Aaron over, when prlinkbiz ladies and Mark V decide to make good the contract Casey has signed with both regarding rights to the domain. Yep, Casey already has the money, like his cashback, and the buyer gets screwed.
Re: How Casey can screw up the IAFF transfer..
iaff built up its hits based on his story - He's the brand. When people sell such property they usually agree to non-compete clauses - I'd expect Casey to have signed such a clause.
But, if you look at how the phone companies started their own phone directory AFTER selling off their Yellow Pages for vast sums of money - if you look at new restaurant chains started up after the original branded version has been sold off - getting past the non-competes isn't too difficult - and I'm giving examples of companies with scruples - with something to lose.
Whereas with Casey...
-K
I read one of the articles at the new IAFF about how to avoid foreclosure. I thought this little bit at the end was interesting.
There are many many homeowners who have fallen significantly behind (90-120-150-180 days) on their payments and they have not received a phone call or any type of letter demanding payments. This is due to the fact that Wall Street firms who bought the loans from local lenders have not gone forward with Notices of Default (NODs) because the information would become public and the bonds they created that are collateralized by your home loan would go down in value. Wall Street is forestalling the inevitable, sending misleading signals to borrowers and the market. Ultimately, all home values may go down 20% or more. You should be prepared for this!
So it's very likely that the numbers we're reading are vastly understating the case. Yikes.
@BG:
The other day on CHC Duane made a post to Casey. If I recall correctly, he asked why Casey sold IAFF for less than he (Duane) was offering. If that is true & if Duane told the truth about his original offer, that means the blog went for less than 20K, US.
Eh, not necessarily. I remember Duane said something like, less than I was offering over the course of a year. Remember that little 50% of income part? Casey did NOT want to wait a year to get that money (even though it may have been more) and continue his relationship with Duane. Duane estimated that at $10K I think, because the whole package was supposedly going to be $30K.
So A.K. could've offered $25K upfront. That's what I thought because of Duane's wording.
Hmmm:
"Wall Street firms who bought the loans from local lenders have not gone forward with Notices of Default (NODs) because the information would become public and the bonds they created that are collateralized by your home loan would go down in value."
Interesting and entirely believeable scenario, due to the natural human/bureaucratic nature to sweep mistakes under a rug.
One wonders if we wouldn't all benefit by making de jure what may already be de facto.
Namely, that you're not considered in default until 6 months have gone by.
Good for the Street, good for the homeowner.
Just tossing it up there.
Another thing is that if you're in trouble, and you're not getting notices, it might give you a false sense of security and worry less about getting the $$ together than if someone is breathing down your neck.
Could also take a lot longer to uncover fraud -- people who borrowed inflated amounts then skipped the country.
I vaguely remember reading somewhere that the reason some Wall Street firms/banks are not pushing on default and doing workouts is so they don't have to pay on the default swaps they also issued.
There were some hedge funds barking about it a month or so ago. It's basically fraud, as I remember.
Oh well, those are the waters.
It's over anyway though. From what I've heard, the secondary market is dead and the end of easy mortgage money is effectively over. Even if these institutions manage workouts, it probably won't matter all that much because the underlying asset which colateralized this paper is only going to be worth a fraction of what it once was. E.g., and 80% LTV loan becomes a 120% LTV turning it from 'prime' to 'alt-a/subprime'.
Everyone is going to take it in the shorts.
Everyone is going to take it in the shorts.
Don't be so fast. Maybe you don't remmeber the 70s. People were paying 3.5% on low 5 digit mortgages with full deductibility. I fully expect to be able to "buy" my sub 5% mortgage back at NPV (huge face value discount) within 24 months. Sweeeet.
Alright. Not everyone. Some people will come out ahead. But I still believe that the vast majority of people are going to take a hit somewhere. If no other reason than this is going to effect pension funds and insurance companies as well as just house prices.
Not to mention that the stupid government is bound to end up meddling, which will only make things worse.
Everyone who depends upon credit for revenue will lose. Everyone who depends upon managing the processing of credit for income had damn well better lose. I doubt the last.
Not to mention that the stupid government is bound to end up meddling, which will only make things worse
Ain't that the truth. Although this ain't no $3 billion airline bailout. We're talking trillions down the tubes.
But Bernake himself has stated numerous times that inflation is the bigger threat to the economy than a few local bubble zone housing markets taking a bath. Which leads me to believe he'll have no choice but to continue to raise rates to shore up the dollar.
Everyone who depends upon managing the processing of credit for income had damn well better lose. I doubt the last.
Not a chance. Like the Global Crossing CEO, they'll golden parachute out. Oh, a few players here or there will get tossed to the Federal wolves. (Mozilo from Countrywide is likely at the top of that list)
But for the most part, 98% of those slimeballs will fade into obscurity as very wealthy men. The smart ones have likely already headed south ahead of the storm to ensure their names are long since forgotten.
Rob said:
Don't be so fast. Maybe you don't remmeber the 70s. People were paying 3.5% on low 5 digit mortgages with full deductibility. I fully expect to be able to "buy" my sub 5% mortgage back at NPV (huge face value discount) within 24 months. Sweeeet.
Can you elaborate on what that means? I'm just an engineer trying to learn what to do with my money, but it sounds intriguing.
Thanks
Eric,
Excellent question. The naswer is "mark to market." Hypothetical; A 0% $100k loan over 30 years is $278 per month. A 10% $100k loan over 30 years is $878 per month. Same outstanding balance, vastly differnt payments. Inflation, inflation expectations, cash flow, reserve requirements all play a part. I expect in about 16-28 months that reserves will squeeze the lenders like never before. Then "we" move. My $200k loan at 5% for $90k now in your vault.
Rob,
By your statements, I am assuming you see a repeat of the end of the 70s whereby interest rates skyrocket?
Interest rates Skyrocket? No. Firstly there is no benefit. Caution has returned such that unreasonable rates will never return. Second, tough times are coming; we can't inflate and deflate at the same time. One will win or both will fight to a tie. The latter.
Second, tough times are coming; we can't inflate and deflate at the same time. One will win or both will fight to a tie
Not sure about that. Now while changes are happening in the credit and lending industries, the Fed is still printing currency at a rapid pace. I am not sure how you can alleviate the general inflationary effect of that policy if you don't raise rates accordingly. Unless you are saying that they will reign in the money supply? Bernake doesn't seem likely to do that. Especially with a war going on.
Disease is spreading.
Hellooo... testing 1, 2, 3. Is there anybody here?
"Everyone who depends upon credit for revenue will lose.."
Which is a large chunk of the economy.
My sense on interest rates is that helicopter ben will stand pat until the tightening cycle ends overseas.
Thanks Rob.
I do have some understanding of the "time value of money" equation, so in your example 200K is the future value, or the Pv? I think I see the reasoning, a fist full of cash now is better than the payment stream if you can lend it at an even higher rate, right? You can make the note holder such an offer? Never did really understand how the bond market works.
I guess it has something to do with sweet arbitrage.
Well back to designing your next cell phone.
If Krowne is so broke he needs to hold a begathon for his legal defense, did he perhaps use that donated money to buy IAFF instead, thinking he could leverage the domain to raise more $$ than he was getting in donations?
One wonders if his donors would approve.
To hell with your cell phone, I refreshed my memory with the NPV formula instead, thank you wikipedia. So how high would interest rates have to go to make your scenario a possibility?
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Libel suit against Mortgage 'Implode-O-Meter' to proceed
Judge rules lender may have been damaged by site's postings
Monday, July 30, 2007
By Matt Carter
Inman News
A judge in California has ruled that a popular Web site that maintains a list of "imploded" mortgage lenders must defend itself against a libel suit by a lender that was placed on the list and described as "gone" in a blog post heading.
The Loan Center of California Inc. sued Aaron Krowne, a computer scientist and digital librarian who operates "The Mortgage Lender Implode-O-Meter" Web site in his spare time, after Krowne published an anonymous e-mail in April from a person claiming to be a laid-off credit officer.
If Krowne is so broke he needs to hold a begathon for his legal defense, did he perhaps use that donated money to buy IAFF instead, thinking he could leverage the domain to raise more $$ than he was getting in donations?
According to his own website, Krowne has stated that he has only received $4000 in donations thus far. So that wouldn't be able to pay for IAFF. Unless he got some sweet cash back from something else.
Or Casey was stupid enough to let him pay on an installment plan. :P
@ Tom,
RE: Which leads me to believe he'll have no choice but to continue to raise rates to shore up the dollar.
*************************
Another way to look at it is that
the NAU wants the dollar to tank, with intent and aforethought.
Make way for the Amero.
Also, weak dollar, lighter Government International (and consumer mortgage) debt service.
Interest rates will not go up or they will stay flat, imo.
A quote from www.roccland.blogspot.com
and a Must SEE TV interview about the REIC! Un f&*(^^*)_#%%ing believable.
Keith at HP sez Cramer pumped houses till he sold all of his RE investments!
Hat tip to housingdoom.com
**********************
Richard said....
Cramer says walk away from your mortgage...
Bwhahahahahahahahahahahahhahahah!!!
No F'n shit genius.
Add to the credit cards...student loans...
Anyone think they are gonna "retire" is delusional.
http://tinyurl.com/yq5uhn
@Rob Dawg
Second, tough times are coming; we can't inflate and deflate at the same time. One will win or both will fight to a tie. The latter.
I have to disagree here. We can inflate and deflate at the same time. If you increase money supply (the printing presses).. you inflate. If you increase interest rates (you deflate). The combination of two has happened before (1970s).
We can't lower rates to spur things out of a recession because we are running a deficit and have to finance it with treasuries or printing money. If we have to do it by treasuries, the interest rate has to be high enough to entice foreign buyers to pick them up despite the risk of devaluation of the dollar. If it is done by printing money, we have to apply a technique to keep down the inflation that results (increase interest rates)..
re Lost Cause
Hellooo... testing 1, 2, 3. Is there anybody here?
Looks like Lost Cause has selective hearing. He can only hear something if the name "Casey" is spoken!!..
The Final Sharkcast is still on, and yes Casey is still going to be there. I just reconfirmed with him not ten minutes ago about it.
This will more than likely be his FINAL APPEARANCE in any type of public forum for a long time to come.
Casey has proposed a NO SPIN cast and has asked me and others to hold him to it.
Since he will not have mute capablilities then him and I will have a back door communication in case someone is approaching a subject he cannot talk about.
Exerpt from Casey's Email
"> Here are the subjects I want to address:
>
> * how much I sold the blog for
> * how I waffled about what I'm going to do with the money and how I
> started to consider shiny things instead of following through my
> promise
> * how I came to my sense and decided to do the right things with the
money
> * how I started to waffle AGAIN
> * what is the status of the money now
> * what is the status on paying off G's cards
> * what happend to traffic ticket
> * what happend to my deal with Mark and attorney fees its costing me
> * what is happening with FBI and criminal defense
> * what is my plan for employment
> * what is my plan for business, etc...
> * address the page marriage issues as truthfully as possible
>
> Answer any other questions."
Other things he will address (paraphrased)
--The truth behind the Australia trip in regards to his marriage.
---His Use of Bible quotes to G and to others.
---POINT BLANK QUESTIONS about gray areas, whether he lied and/or manipulated G, His last post with the letter to G, and whether he told half-truths throughout this entire ordeal. When I say point blank, I mean point blank...I will pull no punches.
I was going to approach this with kid gloves, but casey has asked me to take the gloves off.
PS if someone can put the final sharkcast up on Caseypedia please...apparently I have lost my posting rights there.
Dude, if it's really you (and not the spoofed you) you have major contacts in the Haterz™ community to discover why you can't edit at Caseypedia™.
WTF?
No disrespect, trolling, or any nefarious intentions intended.
Sharky, I think you've been spoofed by a Serin.
But that's just my opinion and IANAL.
Cheers!
Beginning to get fliptard withdrawal already ... massive focused semivegan koi ... its all good ... so, anyone got any Aaronisms? Throw me a bone. I haven't been this upset since the Grateful Dead stopped touring. (Hyperventilating) I'm loosing (tm) it!
@Sharky: "Wall Street firms who bought the loans from local lenders have not gone forward with Notices of Default (NODs) because the information would become public and the bonds they created that are collateralized by your home loan would go down in value."
I've considered that possibility before, but there's a problem. Very few of the loans are serviced by the same entities who hold the complete rights to the revenue streams from those loans. On the contrary, most loans are sliced up into multiple revenue streams owned by multiple people, and often the servicer has little or no portion of that.
The servicer can pretend that the loans aren't in default all they want, but there won't be any pretending that the MBS or CDO isn't paying out what it should be. Given that everyone and their dog in the securitization world is leveraged to the hilt, when the revenues stop coming, the banks who have issued the lines of credit that were used to buy those securities will be asking why there isn't revenue, and what those securities are really worth. The mortgages themselves may not go into default through clever financing (Default Ignore Mode™), but that won't prevent the MBSs and CDOs from getting marked down or even going into default themselves.
@Sharky: "Keep the yacht fully insured, then wreck it."
They tried that stunt on "Arrested Development". Note to self: if committing insurance fraud, make sure that "G.O.B." Bluth is not trusted with delivering the insurance payment :D .
By the way, "Arrested Development" has almost miraculously forecast many of the exact troubles that the real estate industry has gone through. I have to wonder if David Crisp is driving around the stair car now that the jet got repo'd . . .
APV - that show was brilliant. Thanks for the smile.
Looks like CHJTS remembered his password -- I went to add to CaseyPedia but he got there before me.
@BJ
No, I was testing my keyboard. Really.
And I wasn't really trolling. I really feel that way. Honest.
Where are we going to find another one like Snowflake? He was one in a million. (Thank God!)
That Krowne lawsuit has a lot of implications for the Bubble Bloggers, content aggregators, the press and free speech. I hope he beats them. If it drags on, he might outlive them.
Check out this photo of the boat...POS indeed!
Alright everybody, here is my submission for how Casey is gonna bullshit his way thru the following questions, I'm gonna keep some hard liquor ready and do a shot for each one that is correct.
"> Here are the subjects I want to address:
* how much I sold the blog for
50K, half to me, and half maybe..like if someone takes me back, half to the other person.
how I waffled about what I'm going to do with the money and how I
started to consider shiny things instead of following through my
promise
Should I pay off Galina's debt? Why should I, she left me right..hell she's not going to jail, I AM! After all the dirty secrets she laundered on the internet, forget it..maybe as a bribe for her to keep her mouth shut. I was thinking of sinking the money into that perpetual energy thingamajiggy. Or I can teach people about scams and how to avoid them. The scam Code..yeeehaaa
how I came to my sense and decided to do the right things with the
money
Simply put, wit Galina opening her mouth..I am sunk. Big time. Duane has my receipts and evidence of fraud. Galina can become a witness against me and she knows all the bullshit I have told people from day one..including her. I gotta shut her up. Sigh..guess I pay of her debt..
how I started to waffle AGAIN
If I use this money to pay off Galina's debt..she may leave me anyway. But..and this is a big but! If I can somehow invest it or entrepreneur it into millions..I can pay off all her debt, my debt, and win her back!
what is the status of the money now
I don't know what I owe on taxes, I don't know what I owe cashcall, I don't know what I owe any of my credit cards..I don't even have a spreadsheet for all my debt. All I know is that I can't borrow anymore money right now.
what is the status on paying off G's cards
I'll give you one guess..and she isn't gonna like it.
what happend to traffic ticket
I'm building up massive fines for failure to pay. In 3 months I'll owe about 568 dollars, since I ride a bike these days..they can stick that revoking of driving priviledges crap where the sun don't shine. Sides, I intended to pay it, and I didn't realize that I had not paid it..things have been CRAZEEEEE!
what happend to my deal with Mark and attorney fees its costing me
I'm fucked, and as for paying the lawyers?!?!? LOL, they can get behind cashcall and the rest of my lenders when it gets time to collect.
what is happening with FBI and criminal defense
I'm fucked, I swear if this 1800-lawyer guy doesn't do his best for 24.95 I'm gonna scream!
what is my plan for employment
Make at least 1000 dollars an hour..and passively.
what is my plan for business, etc...
It's all in my head, and besides, how can I make a business plan if opportunities spring up left and right. Golden niggets boys, and juicy deals..bigfatjuicy deals in fact..har har har
address the page marriage issues as truthfully as possible
Well, you know I've lied about everything in the past..this time thought it's gonan be the truth! And Galina has to believe me, or else I'm gonna be someone's new wife in prison...
Answer any other questions.
Same way I always have...lie my ass off.
Other things he will address (paraphrased)
--The truth behind the Australia trip in regards to his marriage.
Gonna try and spin this shit so it makes it seem that I wanted to sell my body on the streets of Australia so Galina wouldn't have to. It was all for you Galina, my love. It wasn't for me, it was for you Galina. That's why I was willing to have someone else pay for the trip, and that's why I mooched off of a bunch of supporters. The reason I left so quick, I didn't want to hurt Galina with long goodbyes.
His Use of Bible quotes to G and to others.
Don't all people, particularly criminals turn to god when they are facing prison time? The magic real estate beans didn't work, the SECRET book didn't work, hell, why can't I believe in a wish granting genie?!?!
I don't even know why we give this piece of shit a mouthpiece, you know it's gonna be more bullshit and spin, now that he doesn't have a blog anymore, and I guarantee he is gonna be kissing Galina's ass throughout the program.
So why then do we listen? Because it`s still some of the best net entertainment around. Actually I don`t listen live but download it later. This way I can skip the boring calls (about half) and grab to good ones.
About Galina's debt.. too bad we can’t hear from the lawyer because he’s the one with the answers. If Casey has 50 grand in his pocket the lawyer(s) want their cut likely right now. O.k. next up the wife and what kind of damage can she do should this go to trial? Judging by the net gossip that marraige is done so unless she's going to be trouble (in court) Casey should worry about keeping his lawyers happy (read: paid) and staying out jail
Unfortunately, it’s going to became harder to follow the saga now that Casey’s sold his blog.
@john
So why then do we listen? Because it`s still some of the best net entertainment around. Actually I don`t listen live but download it later.
I don't know.. I'll probably not listen, except if Galina has gotten 'Annie training' and calls in to ream Casey a new one, then kicks him into next week.
@Lost Cause
Where are we going to find another one like Snowflake? He was one in a million. (Thank God!)
ROTFLMAO..
Humm... what scares me is that with the world population at 6,608,668,345, umm oops 6,608,670,412 keeps changing each refresh, that means we have 6,608 of them!!
That Krowne lawsuit has a lot of implications for the Bubble Bloggers, content aggregators, the press and free speech. I hope he beats them. If it drags on, he might outlive them.
If Krowne was smart, he would contact all other bubble-bloggers as well as EFF and ACLU.
This looks like a SLAPP lawsuit.
Although I eager to hear the Tuseday talk cast I find it amazing how the guy just can’t keep out of the limelight. His appearance will only feed more fodder to the hatters. I’ve got no doubt should he actually skate any serious criminal charges our man will to return to the internet.
So let me get this straight..in his interview with Marty, Casey admits that he was using his wife's credit cards to buy those real estate seminars? He even admits that she was getting nervous about it but he reassures her with "Don't worry, I'll be able to pay it off soon".
As for the foreclosure code..So casey was going to write a book about all the shit he learned at these seminars (plagiarizing topics and methods from the various gurus) write about how using these methods he failed misreably and actually lost all his money and then some...and then they were going to write a 47 dollar special report about how to use your wife's credit cards to pay for all this crap?
unbelievable.
John,
It is not a matter of casey coming back into the limelight.
I have been going back and forth with him since the beggining of the haterzcasts to get him to come on.
He agreed to this appearance before his last fraudcast and is using it as an opportunity to come clean on allot of things.
As much as I simply can barely stomache what he has done to his wife, I for one am interested in what he has to say.
Noone needs to call in if they dont want too....I am sure casey and I can fill a couple of hours alone with just the two of us.
I too look forward to the Talkcast but if Prince Sadim doesn't control the mute button then I think he will be walking out of it long before the scheduled end.
@CHJTS
Ask Casey if he EVER really had a team of investors to invest in various properties(like he liked to proclaim)...or if he was just full of shit as usual.
I'd rather Galina was being interviewed. Hell...I wiould pay for an EBOOK by Galina giving us the real lowdown on her exhusband and what a colossal asshole and loser he is. Think about it G, "The shithead Code!"
Actually I don't think there's much left for Casey to say. We know the story and his wife's affairs? Unless it's something new like he's given her money or she wants to call in what's the point? His debt, his wife, Duane, LossMitPro are all old hat. The last thing we need are more "explanations" or "clearing the air" about past issues.
Let's keep it on the now and the pending legal issues if possible.
>> at 1:10PM, Rob Dawg said...
Don't be so fast. Maybe you don't remmeber the 70s. People were paying 3.5% on low 5 digit mortgages with full deductibility. I fully expect to be able to "buy" my sub 5% mortgage back at NPV (huge face value discount) within 24 months. Sweeeet.
Wow Dawg, I completely forgot about that. I remember the in-laws phone ringing off the hook as the bank wanted to close out their 5% loan. Then again, I was paying on a 16.5% mortgage so the banks did make a buck or 3.
Sure would be sweet to pay "pennies on the dollar" to pay off the homestead.
But with most mortgages owned by Wall Street, will such deals really happen?
Who are the loan processors to sell out the assets at discount? To an investor, any of us who can afford to pay off our loan in a lump sum, are not the folks who are getting foreclosed upon. We are their revenue stream.
H.
H Simpson,
All the note holders care about is NPV and soon reserve/leverage. They are going to be forced to deleverage big time IMO. Fewer loans to reserves ratios means they'll have to get rid of some. To some extant they can get rid of we underperforming types far easier than the more recent toxic loans. In a liquidity crunch those with liquidity will dictate the terms. Heck, I may not write the check but take out a new high rate loan for the tax advantages depending on the situation at the time.
You remembered correctly about the banks and those loans but very very few of us do and even fewer know why and fewer still are in a position to do something about it when the time comes.
$100k at 5% is 536.82
That's the same as $73k at 8% and $56k at 11%.
I can see 11% as we protect the dollar and start owning up to the true inflation rate. Heck, go to the same damn bank and trade loans. 56 cents on the dollar, they get a much better LTV on the books, you get the deductibility and in a few years swap back when rates go down. Happy happy joy joy.
Thanks Dawg
I may be able to pay this house off and have enough left to upgrade the boat to a "proper" yacht, though nothing like Mr Devarney jots about in. Or a winter home in Vegas (see below).
Now if I can just get madman Crammer to STFU. He did a glowing review of my favorite stock on thursday.
Has cost me $30k as EVERYONE and his brother is now going the other way and punishing the stock. Some influence.
See this sign of the death spin this am?
http://money.cnn.com/2007/07/31/real_estate/bc.usa.economy.foreclosures.reut/index.htm?postversion=2007073108
Looks like Nevada is chock full of Caseys. Slime covered pools & associated homes ought to be a heck of deal in 24 months too...
Just be real careful about taxes and HOAs. California and Prop 13 are the only safe bets in the coming implosion. If even a quarter of the houses in an association fall behind the whole association collapses. The math is a death spiral. Reduced revenues, everyone other owner is overleveraged due to comps, costs skyrocket as insurance and delayed mantainence go up, etc.
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