momopi_IHB
New member
Was browsing through news.com and saw this:
http://news.com.com/2300-1028_3-6183330.html?tag=nefd.gallery
Casey Serin started a now-famous Web site, <a href="http://www.iamfacingforeclosure.com/">iamfacingforeclosure.com</a>, after spending around $30,000 on real estate "guru" courses that purported to teach him how to flip homes at a profit. Unfortunately, he tried this near the height of the housing bubble, a move comparable to buying dot-com stocks on margin in March 2000. At one point, the 24-year-old immigrant was unemployed but had nevertheless managed to purchase eight homes by, as he admits, lying on mortgage applications about his income, making him something of a poster child for the housing bubble.
Serin, who may be one of the most hated bloggers on the Internet because of his financial irresponsibility and penchant for publicity, bounces on a blue ball in his home office in West Sacramento, Calif. He has lost all of his eight homes and now lives with his wife's sister. He was a few months behind on rent but now says he's caught up through July.
Serin sits in front of a Jamba Juice in West Sacramento, Calif. Five of his homes have been foreclosed upon and banks were forced to sell others at a loss. He's more than $170,000 in debt. Because he doesn't want to get a job, his wife, Galina, now cleans homes. This would be a normal tale of woe except for Serin's tell-all posts on his Web site, including financial statements, that have drawn the same kind of highly attentive crowd that might assemble to watch a train wreck.
http://news.com.com/2300-1028_3-6183330.html?tag=nefd.gallery
Casey Serin started a now-famous Web site, <a href="http://www.iamfacingforeclosure.com/">iamfacingforeclosure.com</a>, after spending around $30,000 on real estate "guru" courses that purported to teach him how to flip homes at a profit. Unfortunately, he tried this near the height of the housing bubble, a move comparable to buying dot-com stocks on margin in March 2000. At one point, the 24-year-old immigrant was unemployed but had nevertheless managed to purchase eight homes by, as he admits, lying on mortgage applications about his income, making him something of a poster child for the housing bubble.
Serin, who may be one of the most hated bloggers on the Internet because of his financial irresponsibility and penchant for publicity, bounces on a blue ball in his home office in West Sacramento, Calif. He has lost all of his eight homes and now lives with his wife's sister. He was a few months behind on rent but now says he's caught up through July.
Serin sits in front of a Jamba Juice in West Sacramento, Calif. Five of his homes have been foreclosed upon and banks were forced to sell others at a loss. He's more than $170,000 in debt. Because he doesn't want to get a job, his wife, Galina, now cleans homes. This would be a normal tale of woe except for Serin's tell-all posts on his Web site, including financial statements, that have drawn the same kind of highly attentive crowd that might assemble to watch a train wreck.