Casey Serin started a now-famous Web site, iamfacingforeclosure.com, 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.
May 14, 2007 3:55 AM PDT
Photo by: Declan McCullagh/CNET News.com
