In commercial real estate, theoretically overvaluing properties A and B, while getting a loan on property C has absolute zero bearing on the loan terms for property C. Lenders underwrite the property they would loan against. Furthermore, lenders are more interested in the Principle's net liquidity than they are net worth.
Lib Host Jon Stewart Overvalued His Home By 829% After Saying Trump Civil Case Is 'Not Victimless'
- Thread starter RicoSuave102954
- Start date
Both things can be and are true here: Trump committed fraud and the effort to nail him was politically motivated.
Wasn’t the issue more with lax mortgage rules that allowed people to buy homes for no money down along with other creative financing options that resulted in huge numbers of mortgages becoming upside when home values plummeted as the economy tanked?
LACK OF OVERSIGHT back then….yes. Lack of oversight and failure to invoke rules in place to prevent mortgage fraud. Coupled with wild greed in the stock market that enabled brokers to hide this fraud and make it appear legitimate by using false bond ratings on bundled mortgages.
And the barn door was shut after the cows had wondered away….
Not your best effort. More attune to the cows being put back into the barn,and the door closed, but renigging on the terms to get them back.
But for Trump that same thing was a crime that warranted a $429 million fine? If you can't see the hypocrisy in that you are either mentally incapacitated or a full blown Dem Marxist lemming. I wonder when the NY AG will indict Jon Stewart?
Stewart must have legally inflated his value, because he stated Trump illegally inflated his. I'm sure there is a rational difference.
Him chastising trump on knowingly paying lower taxes as fraud and them him doing the same thing is the very definition of hypocrisy.
I have no problem with what Stewart did here, but he is talking out of both sides of his mouth on the tax part.
Stewart didn’t use it to get better loan terms. How bout mar a lago then. He isn’t paying taxes on a 1.8 Billion dollar value.
Stop, just stop, you're embarrasshing yourself.😒
My last home listed and sold for double its assessed value. This is not the same. I'm embarrassed for you buffoons.
Thr value your bank has for.your home and your property taxes are two different things,it gets even funner when you realize the value your insurance company has is going to be an even different number.
And you certainly don't want to increase the value of your holdings for insurance purposes. The higher the insured value, the higher the premium. Insurers actually determine the insured value of the properties. Owners have zero say in it.
Correct. And unlike the bank note the insurance company doesn't have to insure the ground when determining reconstruction cost, which a ba k will always account for the value of the dirt.
There isn't another person in this country that would take out a loan, repay said loan, and then have someone come back and say the borrower is responsible for the contract not the FI and they can be found of wrong doing, again, after repaying an agreed upon loan.
This is 100% politics and if you can remove.yourself.from republican and Democrat no sane person should be OK with what this court is attempting to do.
One more example of what they are doing to Trump is nothing more than a modern day assassination. Everyone that has a brain knows it is bogus. Ask the lender that gave him the loans what they think about him.
Newsflash- they can't.
This is bad for the country and not to mention businesses in NY.
So basically John bought a home, paid the assessed taxes on it and sold it on the open market?
The funny part is, the laws were put in place to protect the borrower, so banks didn't over lend on property and allow people to become super upside down. Trump put himself in MORE risk than should have legally been allowed if you want to.say what he did was wrong. But again, the bank, decides the value of the collateral.
one guy sold his home for more than it was assessed
one guy used "questionable" assessments while securing loans
regardless of how you feel about the case against trump...these aren't the same things
one guy used "questionable" assessments while securing loans
regardless of how you feel about the case against trump...these aren't the same things
The bank decides who does the assessment.
This issue should have been between the FDIC and the FI, but Trump just offers too much meat..
Bernie Madoff who stole BILLIONS - $10M Bond
Donald Trump who paid off everyone - $450M Bond
so you don't understand the difference between bail and a civil penalty?
How can fraud take place when the bank accepts your personal appraisal?
I do and should have qualified. Ultimate point here is the degree of actual damages. Trumps so-called damages are purely subjective, while BM was clearly defined.
and you think the only punishment bernie madoff got was the $10M bail bond?
regardless of how you feel about the trump case, i think we can all agree that the guy who ended up dying in prison (in addition to all the assets seized) was punished more than trump - and deservedly so!
Which is why it is nothing more than a show / election interference / mockery of actual justice.
I giggled when I read the OP and other individuals trying to make this a gotchya lol.
???? Just re-upped insurance on my commercial property holdings this week and what you say above was about exactly opposite of what actually happened for me. Yes, higher insured values does translate into higher premiums, but higher insured values also allow the owner to collect more $$ if there is a loss.
Now then, the insurers did NOT determine insured values, they asked me as the owner what the value is and I told them. Yes, if I gave them some wacky number there may have been more scrutiny, but the process was not at all how you described it.
