Will the Trump's be homeless due to NY judges? (Poll)

[playtime]

President Trump will make back everything and then some with the world supporting him! Just open up a funding account.

you're certifiable.

 

[John Edgar Slow Horses]

You still didn't prove that a law says that every number on a loan application needs to be exact.

Nor did you prove that banks do not have to get collateral "appraised" before giving a loan.

This "stealing" of the Trump Organization is "illegal search and seizure" of Trump's personal property.

I don't have to prove anything. The burde of proof is on you to show that the system is wrong. You have not. Trump's people deliberately falsified values to pay lower taxes and to get higher loans.

 

[frigidweirdo]

How does inflating the value of a property get one a cheaper rate? Is it that the more money you borrow, they give you better loan rates? I thought interest rates were mostly fixed based in your credit rating.

You inflate the amount of money and assets you already own. The bank sees you're worth X amount of money that could be used as collateral. Trump is not just going to a bank and looking at the loan rates and deciding which one to take. He's going to different banks and saying "I want a loan, what can you give me?" They offer something, he says "nah, too much, let's go to dinner and here's a bribe, let's see how much you'll offer me now."

 

[frigidweirdo]

When you apply for a loan its up to the bank to verify all of the data.
There are experts called "appraisers" who always give their expert opinions as to what properties are worth.
There is no fucking LAW that requires every fucking number on a loan application to be exact, or you lose your properties.
Caveat Emptor.applies.

Yes, it's up to the bank. The bank, clearly, will not be able to find out a lot of the information on its own. A certain level of trust will have to be there that the person getting the loan is telling the truth.
With insurance, if you lie, and they find out, they won't pay out. But with loans it's a bit difficult as you already have the money.

However there are laws, they are called FRAUD laws.

 

[kyzr]

Yes, it's up to the bank. The bank, clearly, will not be able to find out a lot of the information on its own. A certain level of trust will have to be there that the person getting the loan is telling the truth.
With insurance, if you lie, and they find out, they won't pay out. But with loans it's a bit difficult as you already have the money.
However there are laws, they are called FRAUD laws.

We disagree. In the world of business there is a thing called "due diligence". Google it.

HOW DO YOU KNOW THAT THE BANK USED THE INFLATED NUMBERS?
THEY COULD HAVE APPRAISED THE PROPERTIES (due diligence) AND KNOWN THE EXACT VALUE OF TRUMP'S PROPERTIES.

due diligence

noun​

1. A legally binding process during which a potential buyer evaluates the assets and liabilities of a company.

1 law : the care that a reasonable person exercises to avoid harm to other persons or their property failed to exercise due diligence in trying to prevent the accident

2 business: research and analysis of a company or organization done in preparation for a business transaction (such as a corporate merger or purchase of securities)

 

[frigidweirdo]

We disagree. In the world of business there is a thing called "due diligence".

due diligence

noun​

1. A legally binding process during which a potential buyer evaluates the assets and liabilities of a company.

But that doesn't mean someone who lies to get something, isn't committing fraud, does it?

Say for example I own a home. I want to sell it. The buyer needs to do a survey on the home to find out what problems there are. But say, just for the sake of things, there's something about the property that means the value will drop 50%, the seller knows this, the buyer will not be able to know find this out through a survey. The seller lies about this, saying it isn't so. That's fraud.

 

[kyzr]

But that doesn't mean someone who lies to get something, isn't committing fraud, does it?
Say for example I own a home. I want to sell it. The buyer needs to do a survey on the home to find out what problems there are. But say, just for the sake of things, there's something about the property that means the value will drop 50%, the seller knows this, the buyer will not be able to know find this out through a survey. The seller lies about this, saying it isn't so. That's fraud.

1. Banks always do appraisals. The banks knew exactly how much Trump's properties were worth.
2. If I sell my house my asking price can be higher than the appraised value, so what? Not a crime.
3. Home sales ALWAYS are appraised and inspected. There should be no weird surprises. If there are the inspector better have good insurance, because he inspected the home.

 

[John Edgar Slow Horses]

kyzr, don't teach business or engage in it, because you will end up in trouble like Tramp.

 

[frigidweirdo]

1. Banks always do appraisals. The banks knew exactly how much Trump's properties were worth.
2. If I sell my house my asking price can be higher than the appraised value, so what? Not a crime.
3. Home sales ALWAYS are appraised and inspected. There should be no weird surprises. If there are the inspector better have good insurance, because he inspected the home.

It's not just about how much his properties are worth. It's about how much TRUMP is worth.

You can ask for any price you like for a home. That's not the issue here. The issue here is LYING with an intent on making gain.

3) You totally missed the point I made.

 

[kyzr]

kyzr, don't teach business or engage in it, because you will end up in trouble like Tramp.

LOL! Its not business, its working in filthy democrat run cities and states that got Trump in trouble.

 

[scruffy]

He has other properties in the country.

He has properties all over the world.

The lawfare ruling from this leftard judge won't hurt him in the least.

At most it's a minor inconvenience.

 

[kyzr]

It's not just about how much his properties are worth. It's about how much TRUMP is worth.
You can ask for any price you like for a home. That's not the issue here. The issue here is LYING with an intent on making gain.
3) You totally missed the point I made.

Banks know Trump's net worth. Forbes knows Trump's net worth.
Every time Trump applies for financing, the lenders know the truth about the deal, its their fucking job.

 

[Marener]

Banks know Trump's net worth. Forbes knows Trump's net worth.
Every time Trump applies for financing, the lenders know the truth about the deal, it’s their fucking job.

The banks ask for a statement of financial condition for a reason.

Nothing you said excuses Trump from telling obvious massive lies on that statement.

You don’t get to lie just because you think no one believes you.

 

[toobfreak]

Somehow oddly familiar.

 

[frigidweirdo]

Banks know Trump's net worth. Forbes knows Trump's net worth.
Every time Trump applies for financing, the lenders know the truth about the deal, its their fucking job.

Forbes DOES NOT know Trump's net worth.

They tell you how much he is worth, this is not how much he is worth. You really believe that it's the true figure? It's a guestimate.



"However, it’s worth noting that none of the methods discussed is foolproof or give the exact result due to hugely expensive but undisclosed holdings of people."

"An individual's assets including his stakes in public and private companies, real estate, cars, horses, yachts, art, cash in hand and bank, gold and his debt are to accounted for. People do try to peek into their private balance sheets but not every billionaire is as cooperative as Donald Trump who views the list as a competition and provides unsolicited information to Forbes."

"Private asset value estimation takes a lot of time and efforts of reporters to go through publicly available documents. People like Vladimir Putin (who is likely the richest person in the world) are extremely hard to investigate."

Trump sees it as a competition. Is he telling the truth? In all likelihood Trump is lying to INFLATE his worth even for Forbes.

The thing is, you're dealing with so much stuff and a lot of things can be kept private.

 

[kyzr]

Forbes DOES NOT know Trump's net worth.
They tell you how much he is worth, this is not how much he is worth. You really believe that it's the true figure? It's a guestimate.

"However, it’s worth noting that none of the methods discussed is foolproof or give the exact result due to hugely expensive but undisclosed holdings of people."
"An individual's assets including his stakes in public and private companies, real estate, cars, horses, yachts, art, cash in hand and bank, gold and his debt are to accounted for. People do try to peek into their private balance sheets but not every billionaire is as cooperative as Donald Trump who views the list as a competition and provides unsolicited information to Forbes."
"Private asset value estimation takes a lot of time and efforts of reporters to go through publicly available documents. People like Vladimir Putin (who is likely the richest person in the world) are extremely hard to investigate."

Trump sees it as a competition. Is he telling the truth? In all likelihood Trump is lying to INFLATE his worth even for Forbes.
The thing is, you're dealing with so much stuff and a lot of things can be kept private.

The difference between how much Trump is worth and what some of his buildings are worth fluctuates based on market conditions.
As I said previously, the bank is the lender, they need to know that the borrower is responsible and can afford to repay the loan.
Its up to the bank to do "due diligence" and appraise the value of the properties, if there is a disagreement then the bank can deny the loan. The banks are ultimately responsible to verify the financial details for any loan. Lending is NOT a game of "Liars Poker".

 

[frigidweirdo]

The difference between how much Trump is worth and what some of his buildings are worth fluctuates based on market conditions.
As I said previously, the bank is the lender, they need to know that the borrower is responsible and can afford to repay the loan.
Its up to the bank to do "due diligence" and appraise the value of the properties, if there is a disagreement then the bank can deny the loan. The banks are ultimately responsible to verify the financial details for any loan. Lending is NOT a game of "Liars Poker".

Again, the bank asks the customer to provide information to make that decision. They work on the basis that the person who wants the loan is telling the truth. Why? Because to lie is FRAUD and that's called BREAKING THE LAW.

The bank will go out there and try and figure out if that person is lying or not, but obviously it's not an exact science.

Also, it doesn't really matter, if a person commits fraud, you can't just blame it on the person who was the victim of that fraud. Fraud is AGAINST THE LAW.

 

[meaner gene]

Do you believe that a judge can take personal property? I hope not.
p.s. banks that loaned the Trump's money should know how to value of the various Trump properties, that is their job

This is where people get confused. They think in terms they can relate to. Like when a bank hires an assessor to determine the value of a house for someone getting a mortgage. When dealing with large properties there are evaluating factors that would take looking at the owners books, and Trump wasn't going to show Deutchebank his real books.

 

[miketx]

BIG MACs, KFC, pizzahut....

Your daily masturbation image.

 

[Lesh]

He’ll always have a home

Course there’ll be bars on it