He needs a bail-out. He was lied too, he says so himself.

Never mind he’s a big enough ‘investor’ to have speculated in places all across the country from San Diego, Salt Lake City, Florida.

He went for it and now it failing and he isn’t taking ownership of it.

Schadenfreude on my part, but instead of taken his small beating in Florida and running, he’s going to go down with the ship. It’ll take his Salt Lake city stuff with it and anything he owns locally too since he’s draining his primary residence with HELOCs to the tune of $3000 a month.

I stand by my original supposition. The damage in the market from loan resets etc will work regular home-owners, but Casey Serin and Jeff will be leading the way when they bust on 5,6,7,8 or more properties across multiple states.

There are a lot of these guys and they’re all holding the bag on several properties. That really concerns me.