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If the Republicans win in 2024 it is you that will be crying. More and more it looks like Trump will win if Biden runs. People are beginning to realize that Joe Biden is a subject of elder abuse by being expected to perform as our President.Poor baby. Democrats are just so mean to you.
Certainly. My husband and I are not only assessed on the value of the property we need to borrow to buy or improve or whatever, but our current income and probability of the stability of it, our credit record, and other factors go into the bank's assessment of a) our ability to repay the loan and b) our track record on repayment of loans.Technically Trump’s other properties weren't used as collateral. The statement of financial condition was more to reflect the overall health of his businesses, which were not subject to the type of scrutiny that the properties used as collateral were.
The lender may get an independent appraisal on the property for collateral but did not for every property on Trump’s financial statement.Certainly. My husband and I are not only assessed on the value of the property we need to borrow to buy or improve or whatever, but our current income and probability of the stability of it, our credit record, and other factors go into the bank's assessment of a) our ability to repay the loan and b) our track record on repayment of loans.
And certainly if we were borrowing millions rather than the relatively modest mortgages or auto loans that my husband and I can qualify for, there would be financial statements and other documentation requested and those can of necessity at times be somewhat subjective.
But no matter what documentation I furnished the lender, the lender would not take my word alone for the value of the collateral underwriting the loan.
I'm sure some banks are and some are simply operating under whatever laws are put in place for them. But banks do not accept the word alone of the borrower for the value of the collateral underwriting a loan.
This suit is ridiculous and will most certainly be reversed on appeal.Certainly. My husband and I are not only assessed on the value of the property we need to borrow to buy or improve or whatever, but our current income and probability of the stability of it, our credit record, and other factors go into the bank's assessment of a) our ability to repay the loan and b) our track record on repayment of loans.
And certainly if we were borrowing millions rather than the relatively modest mortgages or auto loans that my husband and I can qualify for, there would be financial statements and other documentation requested and those can of necessity at times be somewhat subjective.
But no matter what documentation I furnished the lender, the lender would not take my word alone for the value of the collateral underwriting the loan.
Depends on what you consider a 'lie'. When we were still operating our business, among other things I looked at many hundreds of payrolls, income statements, tax forms, P & Ls etc. of many businesses and I can tell you that financial statements can be somewhat subjective just as can appraisals and other criteria used to evaluate net worth or financial conditions.The lender may get an independent appraisal on the property for collateral but did not for every property on Trump’s financial statement.
Regardless, you are not allowed to lie on financial statements. It is bank fraud.
We can only hope.This suit is ridiculous and will most certainly be reversed on appeal.
A New York judge’s Tuesday ruling valuing Donald Trump’s sprawling, headline-making Florida estate at $18 million has left industry experts perplexed.In Normal World, when you overstate the value of your holdings on official documents for the purpose of obtaining loans, that's known as "fraud". When you VASTLY overstate them, that's known as "another day in TrumpWorld™".
Defrauding people is "bad" It's "dishonest". People who commit fraud are "lying".
Here are just a few examples of how Trump commits fraud on financial documents to MAKE IT SEEM that he has a LOT more money than he does.
Trump Tower Triplex
Trump's claim: 30,000 sq ft
Actual appraisal: 10,996 sq ft
Seven Springs Estate Value
Trump's claim: $291 million
Actual appraisal: $30 million
40 Wall Street
Trump's claim: $527 million
Actual appraisal: $220 million
Mar-A-Lago
Trump's claim: $612 million
Actual value: $27.6 million
TNGC Briarcliff and TNGC LA
Trump's claim: $73 million
Actual value: $16 million
============
So I guess the question is, why are his followers so willing to overlook blatant fraud like this? Would any of you like to answer that question?
Let the deflection and personal attacks begin!
Source: Page 21 and beyond, DocumentCloud
nypost.com
A lie is claiming your apartment is 30,000 square feet instead if 10,000. Wouldn’t you agree?Depends on what you consider a 'lie'. When we were still operating our business, among other things I looked at many hundreds of payrolls, income statements, tax forms, P & Ls etc. of many businesses and I can tell you that financial statements can be somewhat subjective just as can appraisals and other criteria used to evaluate net worth or financial conditions.
When I was executive director of a large social agency, when we did our accounting to qualify for grants or United Way funds or whatever, we were accused by the few who opposed us of using numbers we liked to see instead of the actual financial situation. I would show how we did our accounting and why we did it the way we did and why it was effective for our clientele, and we were rarely turned down for a grant or funding.
But even lending is subjective. When we wanted to fund and staff a preschool at our facility we didn't have the funds to do the necessary building modifications to meet the required codes.
We sent in grant request after grant request citing services for low income people, disadvantaged people, and other wording intended to stir emotion, but we were rejected again and again. Then one of my staffers came up with the brilliant idea to say 'pre-delinquent kids' instead of low income kids. And we got our grant.
Lie? You might say so since we had absolutely no reason to think these kids were going to be delinquents. But you do what you have to do.
No system is perfect. Certainly Fannie Mae and Freddie Mac got into serious financial trouble by making overly speculative loans and ignoring all the warnings and warning signs, ignoring wise financial practices. And when the unwise loans began defaulting it crashed the housing market so even the good loans were seriously under water on their collateral. Many good people who borrowed in good faith were seriously damaged financially.Odd, they accepted fraudulent numbers from the ratings agencies for years.
Only if the intent was to defraud and other factors are not included. And I do not trust Leticia James who campaigned on taking Trump down or anybody else with that kind of vicious motive to tell the truth about that.A lie is claiming your apartment is 30,000 square feet instead if 10,000. Wouldn’t you agree?
In 2020, Trump agreed that it was worth $26.6 million.A New York judge’s Tuesday ruling valuing Donald Trump’s sprawling, headline-making Florida estate at $18 million has left industry experts perplexed.
In his verdict, Manhattan Supreme Court Justice Arthur Engoron delivered a bombshell ruling that the former president committed fraud by inflating the value of his wealth, with details including the monetary value associated with Mar-a-Lago in Palm Beach.
This decision, which came down without a jury, has sent shockwaves through political — and real estate — circles, especially that $18 million base value for the property.
One prominent Palm Beach real estate broker, speaking on the condition of anonymity, told The Post, “It’s utterly delusional to think that property is only worth $18 million.”
The insider added, “If that property were on the market today, I would list it at around $300 million, minimum … at least. He also has the separate golf course minutes away.”
Real estate insiders bewildered by judge’s $18M valuation of Trump’s Mar-a-Lago: ‘Would list at $300M’
Justice Arthur Engoron’s ruling raised eyebrows by valuing the former president’s Mar-a-Lago estate at $18 million when comparable lots nearby ask much more.
themessenger.com
No system is perfect. Certainly Fannie Mae and Freddie Mac got into serious financial trouble by making overly speculative loans and ignoring all the warnings and warning signs, ignoring wise financial practices.
And when the unwise loans began defaulting it crashed the housing market so even the good loans were seriously under water on their collateral. Many good people who borrowed in good faith were seriously damaged financially.
I doubt the Deutsche Bank made any unwise loans to the Trump organization.
You aren’t really paying attention to the trial, are you?Only if the intent was to defraud and other factors are not included. And I do not trust Leticia James who campaigned on taking Trump down or anybody else with that kind of vicious motive to tell the truth about that.
And I have a hard time respecting the intelligence and or motives of those who take her or her ilk's word for it over anybody else's.
I agree with our tax assessment every year too and the tax evaluation on our house is a fraction of what it should sell for on the market in any given year.In 2020, Trump agreed that it was worth $26.6 million.
Trump’s Tax Representative Said in 2020 He ‘Agrees’ With $26.6 Million Appraisal of Mar-a-Lago (Exclusive)
A letter obtained by The Messenger shows a contrast between what Trump's tax representative told local officials and claims his South Florida club is worth more than $1 billion.
Sure he agreed it was worth that. For taxes. And so you know, a property assessment and a property appraisal are two very different things,In 2020, Trump agreed that it was worth $26.6 million.
Trump’s Tax Representative Said in 2020 He ‘Agrees’ With $26.6 Million Appraisal of Mar-a-Lago (Exclusive)
A letter obtained by The Messenger shows a contrast between what Trump's tax representative told local officials and claims his South Florida club is worth more than $1 billion.
I check in now and then. But when you have a prosecutor who is working with a partisan DOJ and who campaigned on taking down a person she (and they) hate and want destroyed, I have enough integrity to believe everything won't be on the up and up.You aren’t really paying attention to the trial, are you?
Sounds like you already decided the case without actually hearing the facts based on a personal opinion of the prosecutor.I check in now and then. But when you have a prosecutor who is working with a partisan DOJ and who campaigned on taking down a person she (and they) hate and want destroyed, I have enough integrity to believe everything won't be on the up and up.
I think I am with all honorable people in that regard.
I haven't decided anything. But is it integrity to accuse or infer guilt of somebody being tried by a George Soros backed prosecutor who campaigned on taking down the defendant?Sounds like you already decided the case without actually hearing the facts based on a personal opinion of the prosecutor.
Thats not exactly integrity.
