Trump Case:New York Executive Law 63(12) - empowers the attorney general to go to court and seize assets. what precedents are there?

[DBA]

I had a VA buyer once.

100% disable Nam vet.

The VA appraised my home $30k under the agreed sales price and would not give the 100% DISABLED VETERAN THE LOAN.

They wanted me to eat $30k.

FUCK OFF.

It sold 2 weeks later for $40k above the VA appraisal.

THE BUYERS BANK APPRAISED MY HOME $40,000 higher than the VA a mere 2 weeks later.

My point is that THE FUCKING LENDER RUNS THE SHOW AND HOLDS THE CARDS.

Have any of you cult fucks ever actually owned a home?

The answer is no, most of these Democrats still live with their parents or pay rent. They have no clue about the real world.

 

[OldFlame]

I had a VA buyer once.

100% disable Nam vet.

The VA appraised my home $30k under the agreed sales price and would not give the 100% DISABLED VETERAN THE LOAN.

They wanted me to eat $30k.

FUCK OFF.

It sold 2 weeks later for $40k above the VA appraisal.

THE BUYERS BANK APPRAISED MY HOME $40,000 higher than the VA a mere 2 weeks later.

My point is that THE FUCKING LENDER RUNS THE SHOW AND HOLDS THE CARDS.

Have any of you cult fucks ever actually owned a home?

My guess is that none of them have ever done a real estate transaction or worked with a bank. Their naivete is obvious and they're too stupid to understand that.

 

[ColonelAngus]

My guess is that none of them have ever done a real estate transaction or worked with a bank. Their naivete is obvious and they're too stupid to understand that.

I have put it out there I will buy anyone’s property for the taxable assessed amount from the county.

Just send me their tax bill. I will buy the home for that amount.

Astonishingly…no takers.

Weird.

It bothers me the tens of millions of property owners refuse to admit this case is completely frivilous. ANYONE WHO HAS EVER PURCHASED REAL ESTATE OF ANY KIND KNOWS THIS IS BULLSHIT.

 

[OldFlame]

Trump was found liable for fraud for the 3rd time.



He was found liable for fraud...for the 3rd time.



The banks didn't estimate his apt at 11k ft when it was actually 33k feet. Banks also didn't overvalue his apt by 2300 percent.



Trump's guarantee would have been worth squat if he declared bankruptcy.



What does that have to do with Trump committing fraud by lying on forms?



Exaggerated is an understatement. He committed fraud.



The interest rate is irrelevant, Trump lied on his forms.


You don't know this and it doesn't matter. Trump lied on the forms.

Can you link where you are getting this at? I am curious what outlet is feeding you this nonsense.

You want a link to billion dollar business practices and banking processes that you apparently know nothing about. You are out of your league, and only regurgitate what you read and hear on left wing media. It's utterly fascinating how you pontificate on a subject that you have zero knowledge of, you sound like a complete fool.

 

[OldFlame]

...

You are just repeating the same old tired talking points as if they are new.

So are you, you've said the same thing ad nauseum in every thread on this topic.

 

[OldFlame]

That IS how it works.

This is all bullshit and the left knows it.

They all know the lender appraises the property. They just have TDS and the law be damned.

I challenge ANY of you to prove you got a FIRST MORTGAGE OR A NEW CONSTRUCTION LOAN on a property new to you from a lender that did NO APPRAISAL on your home.

PLEASE POST THE EVIDENCE YOU GOT THOSE LOANS WITH ZERO APPRAISAL OF THE PROPERTY FROM THE LENDER.

You will not...because it never happens.

It's amazing how many people are willing to support corruption to 'get' their political enemies. I always asked how the German people allowed Hitler to happen, over the last 7 years it's very clear how it could easily happen. They turn a blind eye to the corruption and stank simply to support their 'party', and don't give a damn about true justice.

 

[OldFlame]

Yet, like I said, there is a correlation..



Those teams do not authorize Trump to submit fraudulent documents.


Johnathan Turley says whatever gets him click bait revenue from Trump supporters who want to be told what they want to hear. The judge addressed victim hood in his report.

So he should lose 500 million dollars and all of his assets because, as you believe, he submitted an incorrect number on a bank loan form?

 

[struth]

What did Stewart value the apt at...meaning what did he tell banks the apartment is worth when he attempted to secure better interest rates?

that's not relevant according to the DA. Moreover, that's just silly, what I value my property at doesn't secure any sort of interest rate from a bank.

 

[ColonelAngus]

How is it the lenders were not able to testify on behalf of Trump and show the court their due diligence on these loans?

They wanted to, the court refused.

How is that fair?

 

[OldFlame]

that's not relevant according to the DA. Moreover, that's just silly, what I value my property at doesn't secure any sort of interest rate from a bank.

That's an excellent point actually, the value of the property has nothing to do with the interest rate you receive.

 

[OldFlame]

How is it the lenders were not able to testify on behalf of Trump and show the court their due diligence on these loans?

They wanted to, the court refused.

How is that fair?

I've never seen any details of the deal made, if the bank did their own evaluation of the property and what they found as worth, and if the property was even used as collateral against the loan. Has any of that information been released?

 

[Lesh]

What a totally stupid thread.

Appraised value for taxes is determined by the taxing authority NOT the owner of the property.

WTF?

 

[Lesh]

That's an excellent point actually, the value of the property has nothing to do with the interest rate you receive.

Appraised value for collateral absolutely “has something to do with the interest rate you receive “.

In fact that and income and credit history DETERMINE that interest rate

 

[OldFlame]

Appraised value for collateral absolutely “has something to do with the interest rate you receive “.

I’m fact that and income and credit history DETERMINE that interest rate

No it does not. The only way it may come into play is what percentage you are borrowing against the collateral, but that's not significant either.

 

[Dragonlady]

Eh? Trump was not charged with fraud in any degree.

He wasn't even charged with the misdemeanors of falsification of business records, because that would have required a trial, and a conviction would have required proof of scienter (which was not shown in the case).

The banks made their own assessments. They estimated Trump's net worth at $2.4 Bn. They also said they routinely use 50% of the borrower's estimates.

The loan was a "full-recourse" loan, meaning it had Trump's personal guarantee. The lender was the investment bank division of Deutsche Bank.

The interest rate the judge used for comparison was based on a "non-recourse" (no guarantee) loan from the Commercial division. That was not an "apples-to-apples" comparison.

Trump exaggerated his net worth, but the banks made their decision based on his actual net worth, which matched other estimates like Forbes and Bloomberg- not an inflated value.

The low interest rate reflects the full-recourse type of note. Banks don't want to own property, especially something like a golf course. So the no-recourse loan has a high interest rate to protect them from having to dispose of a hard-to-sell property in the case of a default.

They were not at risk of that, because Trump had the money to cover the loans. The banks also said they weren't worried because they knew Trump would put a lot of his own capital in the project, so there was very little chance of the value going down.

It is completely and utterly useless for you to parrot the idiotic talking points that Trump tried to use at trial and which failed to move the Judge, who ruled these arguments to be invalid either in fact or in law, or in Trump's case, BOTH.

 

[Lesh]

No it does not. The only way it may come into play is what percentage you are borrowing against the collateral, but that's not significant either.

The per centage you are borrowing IS the interest rate and it is significant

WTF?

 

[Catsnmeters]

1. That 2300% correlation proved that Trump is right.

No it didn't.

2. Those risk management teams mean that the numbers on the form are meaningless, every number needs to be verified and corrected before the loan is approved.

So your saying that people can put anything they want in the form?


Why even ask the question then?

3. Jonathan Turley is a Law Professor who knows the LAW. The appeals court addressed victim-hood when they reduced the ridiculous bond amount. Further appeals should get Letitia's politically based charges dropped.

Turley has spent the last few years spewing what the right wing wants to hear...and he gets paid handsomely for it.

Many legal scholars disagree with Turley. Did you simply dismiss them because you didn't like what they said.

 

[Dragonlady]

that's not relevant according to the DA. Moreover, that's just silly, what I value my property at doesn't secure any sort of interest rate from a bank.

Bullshit. If you plan on using your property as collateral, it damn well better be worth what you claim it is, because banks have strict rules about mortgage lending, which are completely different from other forms of collateral - and many of which are determined by laws and regulations meant to protect the banks' depositors. If too much of the bank's portfolio is in mortgages, a crash like 2008 can bankrupt the lender.

If you're borrowing 25% of the value of the property, and it's in good shape in a prime neighbourhood, lenders will line up to give you a good rate on your loan. If you're asking for a maximum value loan on a commercial property which isn't generating enough income to cover the mortgage payments, I'm charging YOU a higher rate of interest, and looking around for some additional collateral security - personal guarantees, additional properties to add to the mortgage. I'm also looking at any capital costs that may be coming up, because you're really vulnerable here. I think I want an "acceleration clause" too. The full loan comes due if you mortgage, sell or convey the property.

 

[OldFlame]

The per centage you are borrowing IS the interest rate and it is significant

WTF?

You're so clueless...

 

[Catsnmeters]

You want a link to billion dollar business practices and banking processes that you apparently know nothing about. You are out of your league, and only regurgitate what you read and hear on left wing media. It's utterly fascinating how you pontificate on a subject that you have zero knowledge of, you sound like a complete fool.

Honestly nearly everyone here is out of their league.

What are we doing except reiterating other peoples legal opinions on this thread when in reality none of us are lawyers.

Are you claiming to be a legal scholar and subject matter expert whose knowledge exceeds that of the judge, defendants and prosecution?

If Trump's appeal fails to apply your reasoning will you finally accept that Trump was giulty of fraud (FOR THE THIRD TIME) or will find more people to parrot that tell you it isn't fair and Trump is a victim?