Housing Bubble, credit bubble, public planning, land use, zoning and transportation in the exurban environment. Specific criticism of smart growth, neotradtional, forms based, new urbanism and other top down planner schemes to increase urban extent and density. Ventura County, California specific examples.
Monday, March 12, 2007
My Klown Sense Is Tingling
Something about Chris Record? I don't know, just a feeling. Forget I said anything.
KC can be so poetic at times: It was a nice warm spring day today. Different auctioneer, same trashcan and only 4 investors showed up. No bids on anything. Everything went to the bank, including my Burdett.
Isn't it odd how his writing style changes for the better IMHO yet his outward video appearances get flatter and flatter...Certainly Nigel isn't writing for him. P.S. Op Return to Sender take Nigel.
Casey said It was a nice warm spring day, the kind that puts a little moisture under your balls but not enough to leave a bad odor. Reminds me of the musky smell of sweet swaby's crotch after he takes a dump. It was a different auctioneer, new hat, but same dry intonation of "back to the bank it goes". Not as many scavengers er..investors today. Only 4 sharks showed up, and they didn't bid on anything. I was recognized by one of the investors, who told me he would pay me a finders fee for any foreclosures that I could bird dog for him. I guess he realizes that I can spot a great ooportunity from a mile away..I am smarter now, stronger, faster, I have made myself invincible. When my beatiful burdett went up for auction, I could hear the crickets in the background..the trash can gave the auctioneer a dry hollow sound, kind of like my heart, or the sound that echoed in sweet G's privates in the past, something like a large, bottomless pit, wonder why that was? I glanced at my cell phone, hmm, no calls from sweet Nigel, and 42 calls from cashcall. I looked at the sun overhead, still hard to believe that about a year ago today I was looking at that same sun but was in a completely different financial situation; money in the bank, exotic and expensive trips, walking and talking like a success, getting laid every now and then as long as I promised Galina that she could go out and buy something right after. I felt the gentle squish in my pants as I involuntarily defecated...damn that Nigel, he said there would be no ill effects. Luckily he wasn't big enough to cause too much damage. I will FAIL forward dammit! I will rise from the ashes of other people's money like the legendary phoenix!
Personally, I think Casey here thinks that once all the houses are foreclosed on, his troubles are over and he is off the hook. Frankly, he didn't lose any money, he didn't take any risks, and he was able to live off of borrowed money quite extravagantly though obtained via illegal means.
I bet you if Casey had even just 1000 dollars in any of the houses he would be fighting tooth and nail to save it, look how upset he got when Wells Fargo deducted 1000 of his own money out of his account(though he still owed them like 50k), yet he loses his lender 100 grand and could give a shit, it's all just a big joke to him and his little adventure is coming to an end. All the players have moved on, Rich Dad Poor DAd, local rich dad poor son, Chris Record, Duane, the prlink ladies, his houses, the haters, Galina (though he doesn't know it yet) and all he has left is Nigel, but then again, you would have to surgically remove Nigel from Casey's body.
yeah air is nice and clean, they don't call it big sky for nothing, and homeschooled means you learn at home, you don't go to regular or public schools.
"you would have to surgically remove Nigel from Casey's body."
It would be pretty complicated surgery. In a lot of ways its like removing a tick. You have to twist the head just right, or risk decapitation and leaving the head behind to infect and inflame the surrounding tissue.
Unfortunately, on account of poor Uzbecki anal hygiene and Nigel looking so much like a turd, it will be very difficult for the surgeon to ascertain whether or not what's left behind is Nigel's head or a long neglected cling-on.
legion @ 9:56 PM: I bet you if Casey had even just 1000 dollars in any of the houses he would be fighting tooth and nail to save it...
Totally. That's one of the reasons for the tradition of requiring 20% earnest money down on a home purchase--requiring that the buyer put money down (that they generally earned from many hours of work at their J-O-B) is quite effective at keeping them from walking away from their part of the mortgage contract.
Anyway, teh US has a negative savings rate. The only people who could probably come up with down payments these days already own houses (for the most part).
Oh well.
When's casey going to the big house, that's what I want to know.
It must have hurt Casey a lot to post that someone offered HIM a few bucks to birddog a deal. He does not see himself as a birddog, but a dealmaker/principal.
The only time that I ever think about Chris Record is when KC talks about a third party in his cashback deals. Record appears to be KC's closest personal RE Guru, and I also think that KC trusts him enough to handle the cashback@closing. Record may well have been the architect of this whole house of cards.
"The only people who could probably come up with down payments these days already own houses (for the most part)."
I don't know about that. My wife and I don't quite have 20% (assuming $350k), but we could come up with 10-15% tomorrow if we needed to. However, between being somewhat ambivalent toward staying in Sacramento longterm and belief that the market still has another 15-25% to fall leaves us in the position of just renting for the foreseeable future.
Right now, we're working toward homeownership by saving (approximately 15-20% of our gross each month) and minimizing our backend ratio (paying down student and car loans, totals of which is about $15k). Within 18 months, we should be debt free and have a significant chunk of money to not only invest in our first home, but also retain a 3 month cash reserve.
Man people are greedy (or Casey is certifiable). Why the hell would a guy want Casey to find him foreclosures?
In a few months the guy should have his pick of foreclosures with the subprime meltdown hitting it's stride (yes, Nigel ol' boy, IT IS TRUE). Why pay a boy to do what any experienced man can do for nothing but a few minutes of research?
I'm not suggesting that there are *no* renters that can afford downpayments. In fact, I am willing to bet that somewhere in the US there are probably a few renters, that have enough liquid assets to buy pretty much anything they pleased.
What I am saying however, is that given that the savings rate for the under 34s is about -17% (or something equally atrocious), I just don't see a whole lot of downpayments coming from first time buyers.
Granted, if and when housing prices drop 70% or so and actually saving a 20% downpayment within something less than 20 years becomes feasible, the dynamic may well change. But even then, it will be years before it is noticeable.
And don't forget that part of the reason for the miserable saving rate for the under 34's is a combination of ruinous student loans and illegitimate transfer of wealth from the young to the old through stealth and other taxes, so unless housing prices actually fall well below historic valuations, the day of the 20% down + traditional fixed mortgage is history because the downpayments will always be virtually unobtainable.
Basically, I see complete paralysis in the housing market for at least a decade if 20% becomes mandatory. Then going forward, in real terms, housing will all be a money losing purchase. (I.e. it will be impossible to buy at the bottom, because it will never hit bottom, just crash, then flatten at a new low equilibrium).
Of course, long before that, there will be social upheaval anyway, lost generations, yada yada yada. The point is housing - amongst other things - has become so screwed that there is no 'prudent' thing to do anymore. All actions lead to pain.
I feel your pain. Clowns are truly the stuff of nightmares and I've never understood their appeal. (Personally, I've always found Ronald McDonald really creepy.)
Rob Dawg -- what are you trying to do to us? First Nigel's photo and now this!! Eek!!
California housing won't drop 70%. At least, it won't in the good parts of LA. California home prices have decent fundamentals. Their prices will drop, but not so far as to make it profitable for everyone to buy and then turn around and start renting.
I bought a condo in LA for $345,000 and then turned around and sold it at $401,000. I had intended to live in LA permanently and wanted a home. The market made me nervous so I left. When I calculated what the house price would have been if it appreciated normally (using rough guesses), the real value was something like $215,000 or so. Then, I took the current rent rates in the area where that condo was. To my amazement, the rents would have paid a loan in the low 200's.
Therefore, the market could drop some more; however, they'll never drop so far as to make a profit for everyone who wants to be a renter. People will pre-emptively buy and hold for the long-term as soon as they see that short-term rental fundamentals and long-term appreciation offset the short term "slight" overpayment on any given property.
If I were to make a guess, my old condo could fall as far as $250,000-$260,000, but no more than that. The market seems to magically adjust such that rent yields will always be weak in most situations and most properties are generally bad deals [unless you want to live in them.]
And to go off-topic for a moment... well Rob, it looks like LEND is going to take it in the shorts soon. They are seeking strategic funding options. A lot of "strategery" going on for them. Looks bad. One recent after-hours trade at 10.5ish. LEND could hit single digits by days end.
Strategic funding...Sounds like Casey's strategic partnerships i.e. one sided deals that benefit only LEND, or in Casey's case, Casey.
BTW, I have a couple of observations on Casey's post
1. Zero fanfare at this auction, no bids and goodbye Burdett. No pictures, no murse, no blue shirt. No big long post to talk about it. Casey's in a down cycle but knew he had to post something.
2. "only two houses left" reads like "just two more houses to unload and I'm finally out of this mess!"
He has plenty to be down about, after the 28th he won't have short sales or auction drama to distract himself with. I am sure his new BF "G" has not called with any sweet cash back checks either so he feels jilted. At this point the CC card companies and cash call are calling his cell constantly, that would be unnerving and depressing for anyone, even Mr. Oblivious.
Is it just me or is IAFF slowly fading out. He won't answer shit, he runs around like a complete spazz, and we have to rely on the Clown for any juicy info. Moderation is at a stand still. Casey, do something for christ sakes or the blog is gonna tank faster than NEW. And WTF DOES he do all day? Certainly not G. Now that the anal discomfort of his trip to Utah has slowly faded into glowing memories, whats left?
After the 28th the banks have actual losses now, not just impending foreclosures, and the wheels of justice might start creaking towards the end-game for Turnip Head.
Right now, a very visible media story taking him to court to face fraud charges would do more for the mortgage industry's rep than anything, as the media uncovers more and more fraud -they can make it look they're "tough" on fraud, and give the authorities a slam dunk for their publicity department to use to as well.
Meanwhile, Turnip Head is simply washing his hands of the dirty pennies, and trying to get set up to get some more in Utah. Great! It'll distract him while the authorities get their cases ready.
IF Turnip Head is still a free boy next year, then the IRS gets him all to themselves.
Better make sure it's all legal and on the level, Turnip Head. You are going to be under some close scrutiny for the next couple years. No "grey areas" or "Everyone is doing it" nonsense - because more than likely your new scams will have to be explained at the same time as the houses you stole.
Dead Murse Walking. It's only a matter of time now, stupid.
Hey, maybe you can hire an attorney in exchange for some sweet contacts!
Now that "KKFOS" is available on discount DVD there's no reason everyone should not be in on the joke. Oh, and Steph, if you watch this kult klassic you'll probably get over your fear of klowns. The movie plays off of that same fear in a uniue gorey slapstick fashion. Cotton Candy anyone?
"So for first time home buyers, the game has changed a little bit, but not too much. There are plenty of programs available that with a credit score of 620 will allow low or no down payment options. Let’s not forget about FHA loans either, which were designed specifically to foster home ownership in America."
You *do* realize you just took ownership of Turniphead? He let it through because he was afraid NOT to.....and it gives him time to try and diffuse and deflect the question. If he wasn't concerned, he would have blown you off. If he deleted the comment, that would trigger the threat to contact CashCall. His only choice was to let it through and "buy time".....pun intended. You OWN him right now....don't let him slither off the hook.
Anon: You *do* realize you just took ownership of Turniphead?
Yes :-) I thought the threat of informing CashCall might galvanize him to post the comment. I can only hope some of the Haters™ will follow up on that threat if he doesn't answer.
I should have done this a while ago, but I managed to get in today anyhow. I shorted CFC @ $34.55 today at around 10:50AM (EST). They arne't going to close that morning gap because there were sellers at around $34.60 holding the line and the futures weren't going to help either. I'm hoping the market will drag them down too.
As far as fundamentals -- it's almost a certainty the value in their loan portfolio is inflated if they're doing things like giving the Casey Serins of the world promissary notes to repay. That value has to be reflected on their books, and there's almost certainly more people who attempted to get out of their financial situation. Either way, their exposure to sub-prime is cause for a drop.
It's from another F'd borrower.com, where the author will be posting more of this nonsense from the lending world. Notice the offer says "1 Day out of BK" , however it claims to be a full doc program, so KC might not be able to do it. But if Nige is the LO, who know's.
BTW - it looks like there is a tightening of lending standards and programs like these are probably a thing of the past.
One of my friends is terrified of clowns, even to this day (she's in her 20s now), because her older brother made her watch Stephen King's "It" when she was a kid.
yes. it hit 3.96 but is now up to 4.16. daytraders are playing it now for quick dime gains. I think it closes in low 4's today. will probably bleed slowly over the coming days.
Legion said... Casey said It was a nice warm spring day, the kind that puts a little moisture under your balls but not enough to leave a bad odor. Reminds me of the musky smell of sweet swaby's crotch after he takes a dump.
Stopped by the good people at the Mortgage Bankers Association. They are not having a fun time.
They're also well aware of Mr. Serin, fyi.
Also, we are now on Day 3 of " Will Nigel approve an actual economist's rebuttal of his simplistic thoughts?" So far, the Magic 8 Ball says no.
I've got work meetings all day and wedding planning. Anyone care to contact the good ole Sac office at 916-481-9110? Just point em to iaff. I think they are already aware of it though, not confirmed yet.
I do not know if anyone cares, but housing isn't the only investment bubble going on.
I've heard from "investors" in vintage guitars that "prices on old guitars never go down". Of course, this is demonstrably false.
I wonder how many of those $35K pre-CBS Strats were purchased with cash "freed" from home equity? (Hint: about half or more of the vintage guitars on sale are pirated...)
sid, My BIL collects and trades guitars. You are correct in some segments. In others many manufacturers have been serializing since the 1930s and provenance is traceable to the freakin' tree that went into the inlay. Oftentimes the "axe" [they don't cvall them axes] even comes with "service histories" of manufacturer tuneups and/or repairs. Some of his collection have shown up on manufacturers' calendars as a reference point that he knows his stuff. I don't, so don't ask me about it, I just admire the workmanship.
Rob: you'd be surprised how good some of the pirates are. They may not be able to fool your BIL, but they can fool a lot of people in the business.
Fender guitars are easiest to pirate - the design is modular and parts are readily available. Serial numbers and dated parts as well. Hell, you can buy decals for most collectible Fenders on Ebay, although quality can vary wildly.
Faking a Gibson is harder, and acoustics are generally harder to fake than electrics.
@bemused guy Not a chance!!!! There are few things in this world that make my skin crawl, but those things really do. I'll stick to good old traditional slaughter movies. Thanks.
86 comments:
...or maybe not first... got error when posting.
Ok.. first and second.. and 0th, that didn't come through..
How to take out this clown? shoot him in the nose..
I found out what Casey's been up to over the past couple of days.
Casey has become a priest and started his own church. Think of the possibilities:
http://www.flickr.com/photos/7322016@N04/
Casey has become a priest and started his own church.
Our Lady of Perpetual Debt? :-)
Yo dawg, you've got truncation on previous blogs......
anon, thanks and for the emails but I cannot reproduce the issue.
Still, had to be done.
Gaysey's madea new post about the Burdett foreclosure.
So Rob, what did Homey tell ya about Chris Record? DISH IT :-)
KC can be so poetic at times:
It was a nice warm spring day today. Different auctioneer, same trashcan and only 4 investors showed up. No bids on anything. Everything went to the bank, including my Burdett.
Isn't it odd how his writing style changes for the better IMHO yet his outward video appearances get flatter and flatter...Certainly Nigel isn't writing for him.
P.S. Op Return to Sender take Nigel.
Ain't leaving until you confess your sins.
Casey said
It was a nice warm spring day, the kind that puts a little moisture under your balls but not enough to leave a bad odor. Reminds me of the musky smell of sweet swaby's crotch after he takes a dump. It was a different auctioneer, new hat, but same dry intonation of "back to the bank it goes". Not as many scavengers er..investors today. Only 4 sharks showed up, and they didn't bid on anything. I was recognized by one of the investors, who told me he would pay me a finders fee for any foreclosures that I could bird dog for him. I guess he realizes that I can spot a great ooportunity from a mile away..I am smarter now, stronger, faster, I have made myself invincible. When my beatiful burdett went up for auction, I could hear the crickets in the background..the trash can gave the auctioneer a dry hollow sound, kind of like my heart, or the sound that echoed in sweet G's privates in the past, something like a large, bottomless pit, wonder why that was? I glanced at my cell phone, hmm, no calls from sweet Nigel, and 42 calls from cashcall. I looked at the sun overhead, still hard to believe that about a year ago today I was looking at that same sun but was in a completely different financial situation; money in the bank, exotic and expensive trips, walking and talking like a success, getting laid every now and then as long as I promised Galina that she could go out and buy something right after. I felt the gentle squish in my pants as I involuntarily defecated...damn that Nigel, he said there would be no ill effects. Luckily he wasn't big enough to cause too much damage. I will FAIL forward dammit! I will rise from the ashes of other people's money like the legendary phoenix!
Quite good, Legion. Are YOU the guy in Montana :)?
yep, we gets homeschooled heah.
I'm a rather small person myself so in that sense I feel sorry for him...yet sometimes the smallest warriors (NOT KC) are the strongest ....
Legion,
I'm not familiar with "homeschooled" but the air must be nice and clean.
Personally, I think Casey here thinks that once all the houses are foreclosed on, his troubles are over and he is off the hook. Frankly, he didn't lose any money, he didn't take any risks, and he was able to live off of borrowed money quite extravagantly though obtained via illegal means.
I bet you if Casey had even just 1000 dollars in any of the houses he would be fighting tooth and nail to save it, look how upset he got when Wells Fargo deducted 1000 of his own money out of his account(though he still owed them like 50k), yet he loses his lender 100 grand and could give a shit, it's all just a big joke to him and his little adventure is coming to an end. All the players have moved on, Rich Dad Poor DAd, local rich dad poor son, Chris Record, Duane, the prlink ladies, his houses, the haters, Galina (though he doesn't know it yet) and all he has left is Nigel, but then again, you would have to surgically remove Nigel from Casey's body.
yeah air is nice and clean, they don't call it big sky for nothing, and homeschooled means you learn at home, you don't go to regular or public schools.
"you would have to surgically remove Nigel from Casey's body."
It would be pretty complicated surgery. In a lot of ways its like removing a tick. You have to twist the head just right, or risk decapitation and leaving the head behind to infect and inflame the surrounding tissue.
Unfortunately, on account of poor Uzbecki anal hygiene and Nigel looking so much like a turd, it will be very difficult for the surgeon to ascertain whether or not what's left behind is Nigel's head or a long neglected cling-on.
-walt526
legion @ 9:56 PM:
I bet you if Casey had even just 1000 dollars in any of the houses he would be fighting tooth and nail to save it...
Totally. That's one of the reasons for the tradition of requiring 20% earnest money down on a home purchase--requiring that the buyer put money down (that they generally earned from many hours of work at their J-O-B) is quite effective at keeping them from walking away from their part of the mortgage contract.
Hm. It seems Casey is still looking for a sweet deal with the finder's fee and etc.
Why didn't he just tell the investor, "Well, I have two more properties that'll be up for foreclosure shortly!"?
Ha.
Oh and Rob? Dish, dammit. Your public is eagerly awaiting your news on Chris Record.
Seriously, with a name like that does the guy even exist?
Down payments? Heresy.
Anyway, teh US has a negative savings rate. The only people who could probably come up with down payments these days already own houses (for the most part).
Oh well.
When's casey going to the big house, that's what I want to know.
It must have hurt Casey a lot to post that someone offered HIM a few bucks to birddog a deal. He does not see himself as a birddog, but a dealmaker/principal.
The only time that I ever think about Chris Record is when KC talks about a third party in his cashback deals. Record appears to be KC's closest personal RE Guru, and I also think that KC trusts him enough to handle the cashback@closing. Record may well have been the architect of this whole house of cards.
"The only people who could probably come up with down payments these days already own houses (for the most part)."
I don't know about that. My wife and I don't quite have 20% (assuming $350k), but we could come up with 10-15% tomorrow if we needed to. However, between being somewhat ambivalent toward staying in Sacramento longterm and belief that the market still has another 15-25% to fall leaves us in the position of just renting for the foreseeable future.
Right now, we're working toward homeownership by saving (approximately 15-20% of our gross each month) and minimizing our backend ratio (paying down student and car loans, totals of which is about $15k). Within 18 months, we should be debt free and have a significant chunk of money to not only invest in our first home, but also retain a 3 month cash reserve.
-walt526
I just read that some in Germany are seeking to posthumously stripped of German citizenship:
http://news.yahoo.com/s/nm/20070312/wl_nm/germany_hitler_citizenship_dc
My question to EN lawyers out there: might this be possible under US law?
If the whole "posthumous" part is an obstacle, I'm willing to take the steps necessary to overcome that minor hurdle.
-walt526
Man people are greedy (or Casey is certifiable). Why the hell would a guy want Casey to find him foreclosures?
In a few months the guy should have his pick of foreclosures with the subprime meltdown hitting it's stride (yes, Nigel ol' boy, IT IS TRUE). Why pay a boy to do what any experienced man can do for nothing but a few minutes of research?
Rob, my dear, dear friend. I just wanted to thank you for the
NIGHTMARES!!!!!!!!!!!!! OMG!!!!!!!!!!!!!!!!!!!!!!!!!
I f*cking HATE CLOWNS!!!
I am SO CREEPED OUT!! Now I won't sleep.
(love Steph)
It's why I added for the most part walt.
I'm not suggesting that there are *no* renters that can afford downpayments. In fact, I am willing to bet that somewhere in the US there are probably a few renters, that have enough liquid assets to buy pretty much anything they pleased.
What I am saying however, is that given that the savings rate for the under 34s is about -17% (or something equally atrocious), I just don't see a whole lot of downpayments coming from first time buyers.
Granted, if and when housing prices drop 70% or so and actually saving a 20% downpayment within something less than 20 years becomes feasible, the dynamic may well change. But even then, it will be years before it is noticeable.
And don't forget that part of the reason for the miserable saving rate for the under 34's is a combination of ruinous student loans and illegitimate transfer of wealth from the young to the old through stealth and other taxes, so unless housing prices actually fall well below historic valuations, the day of the 20% down + traditional fixed mortgage is history because the downpayments will always be virtually unobtainable.
Basically, I see complete paralysis in the housing market for at least a decade if 20% becomes mandatory. Then going forward, in real terms, housing will all be a money losing purchase. (I.e. it will be impossible to buy at the bottom, because it will never hit bottom, just crash, then flatten at a new low equilibrium).
Of course, long before that, there will be social upheaval anyway, lost generations, yada yada yada. The point is housing - amongst other things - has become so screwed that there is no 'prudent' thing to do anymore. All actions lead to pain.
That Killer Klown was an unexpected blast from the past. I thought I was the only one who ever saw that kult klassik.
@Stephanie J.
I feel your pain. Clowns are truly the stuff of nightmares and I've never understood their appeal. (Personally, I've always found Ronald McDonald really creepy.)
Rob Dawg -- what are you trying to do to us? First Nigel's photo and now this!! Eek!!
I'm going to hide under my bedcovers now.
Yorkshire - that isn't a clown, it's Nigel dressed up for clubbin'.
I will say this - if you guys haven't seen Killer Klowns From Outer Space, you HAVE to see it!
@11:26:
California housing won't drop 70%. At least, it won't in the good parts of LA. California home prices have decent fundamentals. Their prices will drop, but not so far as to make it profitable for everyone to buy and then turn around and start renting.
I bought a condo in LA for $345,000 and then turned around and sold it at $401,000. I had intended to live in LA permanently and wanted a home. The market made me nervous so I left. When I calculated what the house price would have been if it appreciated normally (using rough guesses), the real value was something like $215,000 or so. Then, I took the current rent rates in the area where that condo was. To my amazement, the rents would have paid a loan in the low 200's.
Therefore, the market could drop some more; however, they'll never drop so far as to make a profit for everyone who wants to be a renter. People will pre-emptively buy and hold for the long-term as soon as they see that short-term rental fundamentals and long-term appreciation offset the short term "slight" overpayment on any given property.
If I were to make a guess, my old condo could fall as far as $250,000-$260,000, but no more than that. The market seems to magically adjust such that rent yields will always be weak in most situations and most properties are generally bad deals [unless you want to live in them.]
Oops, I meant "for everyone who wants to be a land lord" in that last one. Tee hee.
And to go off-topic for a moment... well Rob, it looks like LEND is going to take it in the shorts soon. They are seeking strategic funding options. A lot of "strategery" going on for them. Looks bad. One recent after-hours trade at 10.5ish. LEND could hit single digits by days end.
@ratlab
Strategic funding...Sounds like Casey's strategic partnerships i.e. one sided deals that benefit only LEND, or in Casey's case, Casey.
BTW, I have a couple of observations on Casey's post
1. Zero fanfare at this auction, no bids and goodbye Burdett. No pictures, no murse, no blue shirt. No big long post to talk about it. Casey's in a down cycle but knew he had to post something.
2. "only two houses left" reads like "just two more houses to unload and I'm finally out of this mess!"
@ratlab
Why wait until the end of the day? In the premarket, LEND is now trading down 45% at about $6.30.
Wasn't Rob saying something about a bounce in the subprime lenders last Thursday?
Holy shit! LEND is 6 and change pre-market. Only strategy now is how to avoid jail and keep their own houses.
LEND will be down under 5 within the first half hour of trading
If it doesn't get halted first.
Snowflake sure seems pretty deep in the "down" cycle today he?
I agree with Tony S....he does seem to be in down mode. An act for sympathy?
He has plenty to be down about, after the 28th he won't have short sales or auction drama to distract himself with. I am sure his new BF "G" has not called with any sweet cash back checks either so he feels jilted. At this point the CC card companies and cash call are calling his cell constantly, that would be unnerving and depressing for anyone, even Mr. Oblivious.
Is it just me or is IAFF slowly fading out. He won't answer shit, he runs around like a complete spazz, and we have to rely on the Clown for any juicy info. Moderation is at a stand still. Casey, do something for christ sakes or the blog is gonna tank faster than NEW. And WTF DOES he do all day? Certainly not G. Now that the anal discomfort of his trip to Utah has slowly faded into glowing memories, whats left?
How do you do that "TM" thing anyways?
After the 28th the banks have actual losses now, not just impending foreclosures, and the wheels of justice might start creaking towards the end-game for Turnip Head.
Right now, a very visible media story taking him to court to face fraud charges would do more for the mortgage industry's rep than anything, as the media uncovers more and more fraud -they can make it look they're "tough" on fraud, and give the authorities a slam dunk for their publicity department to use to as well.
Meanwhile, Turnip Head is simply washing his hands of the dirty pennies, and trying to get set up to get some more in Utah. Great! It'll distract him while the authorities get their cases ready.
IF Turnip Head is still a free boy next year, then the IRS gets him all to themselves.
Better make sure it's all legal and on the level, Turnip Head. You are going to be under some close scrutiny for the next couple years. No "grey areas" or "Everyone is doing it" nonsense - because more than likely your new scams will have to be explained at the same time as the houses you stole.
Dead Murse Walking. It's only a matter of time now, stupid.
Hey, maybe you can hire an attorney in exchange for some sweet contacts!
Tony Soprano: How do you do that "TM" thing anyways?
Turn on NUM LOCK ... then ALT+0153, and voila ---> ™
Alternatively, you could just copy and re-paste an existing ™ sign. heh.
Now that "KKFOS" is available on discount DVD there's no reason everyone should not be in on the joke. Oh, and Steph, if you watch this kult klassic you'll probably get over your fear of klowns. The movie plays off of that same fear in a uniue gorey slapstick fashion. Cotton Candy anyone?
I quizzed Gaysey about the four CashCall loans under the various e-mail addresses, and amazingly he let it through.
... the hell is up with this kid??
Benoit™ said...
Tony Soprano: How do you do that "TM" thing anyways?
Turn on NUM LOCK ... then ALT+0153, and voila ---> ™
Alternatively, you could just copy and re-paste an existing ™ sign. heh.
On a real computer it is opt+@. The Macs have a whole slew of intuitive chars like opt+$ = ¢ and opt+R = ®. ∞ more friendly.
Sweet™
Thanks er except I'm on my laptop right now..
Ooo, let me try...
Stephanie is hot™
heheh... Awesome™
Never leave your buddies behind. ALT+0153
Nigel
Nigel new post.
"So for first time home buyers, the game has changed a little bit, but not too much. There are plenty of programs available that with a credit score of 620 will allow low or no down payment options. Let’s not forget about FHA loans either, which were designed specifically to foster home ownership in America."
I'm guessing this is his market.
Benoit,
You *do* realize you just took ownership of Turniphead? He let it through because he was afraid NOT to.....and it gives him time to try and diffuse and deflect the question. If he wasn't concerned, he would have blown you off. If he deleted the comment, that would trigger the threat to contact CashCall. His only choice was to let it through and "buy time".....pun intended.
You OWN him right now....don't let him slither off the hook.
@8:34. Good point.
Casey will probably just continue to ignore it though. Seems like his blog is winding down.
Awesome job to the posters here on digging up the Cashcall info. And in Casey's case, I don't think it's unethical. Not even a little.
Weird, I never used ASCII codes with the number lock before.
Rob, the papier maché clown head is still giving me the total heebiejeebs. Could you start a new thread or two so I don't have to look at it.
:::::shudder:::::
LEND punching through 5..wow...
Anon: You *do* realize you just took ownership of Turniphead?
Yes :-) I thought the threat of informing CashCall might galvanize him to post the comment. I can only hope some of the Haters™ will follow up on that threat if he doesn't answer.
Steph, y
You get rid of those Killer Klowns by taking the Doc Martens to the nose.
You need to Netflix that film & watch it some night!
I should have done this a while ago, but I managed to get in today anyhow. I shorted CFC @ $34.55 today at around 10:50AM (EST). They arne't going to close that morning gap because there were sellers at around $34.60 holding the line and the futures weren't going to help either. I'm hoping the market will drag them down too.
As far as fundamentals -- it's almost a certainty the value in their loan portfolio is inflated if they're doing things like giving the Casey Serins of the world promissary notes to repay. That value has to be reflected on their books, and there's almost certainly more people who attempted to get out of their financial situation. Either way, their exposure to sub-prime is cause for a drop.
re:
>>Alternatively, you could just copy and re-paste an existing ™ sign<<
I keep an icon for Windows' included Character Map program on the quick start area of my taskbar. It instantly displays every available character and allows one or more to be copied to the clipboard with a click. It easily permits unwelcome shenanigans such as:
©ª®¢£¤¥¼½¾¶µџҐґӘәӨө⅓⅔⅛⅝⅞←↑→↓
◄█►▲▼█▓▒░▒▓█☼♀♂♠♣♥♦◘◙◦●╤╦╧╣
€₪₧‰№Ω†, man others, and of course the superfun ™.
Hey sports fans,
Wondering why failed flippers can still stay optimistic. Check out this image of a loan product circulated amongst brokers:
http://img85.imageshack.us/my.php?image=img0147lf2.jpg
It's from another F'd borrower.com, where the author will be posting more of this nonsense from the lending world. Notice the offer says "1 Day out of BK" , however it claims to be a full doc program, so KC might not be able to do it. But if Nige is the LO, who know's.
BTW - it looks like there is a tightening of lending standards and
programs like these are probably a thing of the past.
One of my friends is terrified of clowns, even to this day (she's in her 20s now), because her older brother made her watch Stephen King's "It" when she was a kid.
Shit, LEND is gonna bust 4 before the day is out!
tony,
it just did!
I don't have Level 2 anymore. Is that real time?
yes. it hit 3.96 but is now up to 4.16. daytraders are playing it now for quick dime gains. I think it closes in low 4's today. will probably bleed slowly over the coming days.
Hey Nigel,
Freddie Mac just announced they won't take questionable subprime loans anymore. If they aren't backed with a down and aren't fixed they won't buy.
You are an idiot aren't you?
Legion said...
Casey said
It was a nice warm spring day, the kind that puts a little moisture under your balls but not enough to leave a bad odor. Reminds me of the musky smell of sweet swaby's crotch after he takes a dump.
LOL! That's just friggen foul.
What happened to the clown image? I liked it.
Rob Dawg,
I just typed in "nigel swaby ass kisser" and the first couple links are your site.
Not very funny,
Nigel
P.S. Ditto for "nigel swamby cock sucker."
@ T and Legion.
Actually, it smells more like wheatgrass according to Casey. I can't reach it but I keep trying.
Nigel
Oh good. He's back!
Stopped by the good people at the Mortgage Bankers Association. They are not having a fun time.
They're also well aware of Mr. Serin, fyi.
Also, we are now on Day 3 of " Will Nigel approve an actual economist's rebuttal of his simplistic thoughts?" So far, the Magic 8 Ball says no.
I've got work meetings all day and wedding planning. Anyone care to contact the good ole Sac office at 916-481-9110? Just point em to iaff. I think they are already aware of it though, not confirmed yet.
Till next,
R-Boy
Loyal and Faithful Government Servant.
Call the FBI Sac Office (916) 481-9110, or hit them up at fbitips.gov.
Also, thought I would throw a few gems out there since Homey is gone, someone has to step up
Duane isvisiting IAFF
(IP 216.235.129.###)
Anonymous said...
@ T and Legion.
Actually, it smells more like wheatgrass according to Casey. I can't reach it but I keep trying.
Nigel
*dry heaves*
I do not know if anyone cares, but housing isn't the only investment bubble going on.
I've heard from "investors" in vintage guitars that "prices on old guitars never go down". Of course, this is demonstrably false.
I wonder how many of those $35K pre-CBS Strats were purchased with cash "freed" from home equity? (Hint: about half or more of the vintage guitars on sale are pirated...)
sid,
My BIL collects and trades guitars. You are correct in some segments. In others many manufacturers have been serializing since the 1930s and provenance is traceable to the freakin' tree that went into the inlay. Oftentimes the "axe" [they don't cvall them axes] even comes with "service histories" of manufacturer tuneups and/or repairs. Some of his collection have shown up on manufacturers' calendars as a reference point that he knows his stuff. I don't, so don't ask me about it, I just admire the workmanship.
Now this is scary: http://blog.wfmu.org/freeform/2007/03/missionary_enco.html
R-Boy said...
Anyone care to contact the good ole Sac office at 916-481-9110? Just point em to iaff.
Done.
Rob: you'd be surprised how good some of the pirates are. They may not be able to fool your BIL, but they can fool a lot of people in the business.
Fender guitars are easiest to pirate - the design is modular and parts are readily available. Serial numbers and dated parts as well. Hell, you can buy decals for most collectible Fenders on Ebay, although quality can vary wildly.
Faking a Gibson is harder, and acoustics are generally harder to fake than electrics.
Thanks T,
How'd it go?
It went ai'ight. This is the second time I've called. They're aware, will look into it, blah blah blah.
@bemused guy
Not a chance!!!! There are few things in this world that make my skin crawl, but those things really do. I'll stick to good old traditional slaughter movies. Thanks.
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