Casey Serin has finally pulled the plug on his I am facing foreclosure web site. He hasn’t given a reason, but I would guess that he was getting quite a bit of heat from his family. The site was getting a large amount of media attention, which was great for his site, but probably not so great for his family.
I bought one of his “sweet links” for $100 a month. The link was only up 8 days, but I got a bit of traffic from it. I didn’t think I would be hearing from Casey again, but he said he would refund part of the advertising fee.
Many people said the site didn’t offer any educational value, but for me it was an interesting insight to some factors of US property and lending practices. I don’t think Australian banks would let someone get into his situation in the first place. I find it totally unbelievable as to how he was able to tell the banks that he was going to live in the property when he was buying it for investment, especially when he lived so far away from the properties.
Perhaps it is these lax lending practices that have fueled the US’s property down turn. Australia’s property market only continues to gain in value creating the situation where young people are unable to afford a house of their own.