Judge rules Donald Trump defrauded banks, insurers while building real estate empire (paycheck, states)
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The attempt to handwave it all away and deflect is so intense, the wind factor has increased 10x. It almost matches the hot air that comes out of Donnie's mouth, but not quite.
The fun is how pretty much every defense starts with admitting Trump's guilt.
OK, so he did it, but the statute of limitations ran out, I think, and so it's unfair to prosecute!
OK, so he did it, but the banks didn't try to stop him, and how unfair is that?
OK, so he did it, but everybody does it and it's unfair to single him out!
OK, so he did it, but his lawyers asked for summary judgment and probably shouldn't have, and the judge did what they asked, and that's totally unfair!
Absolutely none of the backers are entertaining the idea that Trump didn't do what he's accused of, and ain't that a kick in the head?
Among others, he has lost all but one of his defamation suits, he lost his Trump University suit, he lost a suit against the tenants of 100 Central Park South, and a whole bunch of others.
How do you "massively overvalue" assets time and time again and the bank never figures it out.
Aren't the banks the experts as to how much a property is worth?
Right now Zillow has a home valued for 500K but the owner thinks it's worth more along the lines of 650K because a neighbor's house sold for 635K and the owner believes his home has w-a-y better updates than that other guy's home did.
Which value should he list the property for? 500K, 635K or 650K? If he goes to get a HELOC or insurance on his home, which value should he use on his application?
Real estate agents and appraisers will use the recent sale prices for homes in the area. Zillow takes that into consideration so it unlikely that zillow will be that far off but even if it were, the actual authorities on the value would be the appraiser who will look at the recently sold homes to come up with an ball park subject to an inspection. If the owner is correct that a home with fewer updates recently sold for 635 and there are other homes that also went for a similar price, then his home can be listed for $650K. The same applies for a HELOC, appraiser is the final word but the appraiser will use recently sold homes nearby to estimate the price.
This is the basics of how the housing market works, how you think a home gains equity?
Location: 23.7 million to 162 million miles North of Venus
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Quote:
Originally Posted by shellymdnv
This hasn't been my experience. I recently applied for a HELOC and while an appraisal was required the appraiser apparently just drove past my property, I honestly don't think they got out of the car, then called me the next day to ask me a couple of questions about the house and what I thought it was worth. There was no physical inspection of the inside of the home so I could have been concealing a host of issues that devalues the home and the bank wouldn't have known.
Now if they are doing that for my modest property, I'm sure they are doing the same if not allowing a larger risk for someone that appears to have larger pockets.
There is much more involved in appraising property than just visiting the property, or driving by it.
This is a common legal procedure. It is a summary judgment based upon the documentation.
LOL Even the New York Times, which hates Trump, had to grudgingly admit this was a "surprising decision."
The judge rules in a summary decision for the death penalty for entire Trump empire. This is akin to a civil case brought against a defendant for fraud, over claims he was over inflating the price of a home he was selling. The judge rules that the only way to address this accusation of fraud, is to decide in a summary ruling that the defendant deserves the death penalty.
Giving the death penalty in a summary ruling? No trial? The defendant should lose their entire life's work, with the corporate death penalty, and not even be granted a fair trial?????
Real estate agents and appraisers will use the recent sale prices for homes in the area. Zillow takes that into consideration so it unlikely that zillow will be that far off but even if it were, the actual authorities on the value would be the appraiser who will look at the recently sold homes to come up with an ball park subject to an inspection. If the owner is correct that a home with fewer updates recently sold for 635 and there are other homes that also went for a similar price, then his home can be listed for $650K. The same applies for a HELOC, appraiser is the final word but the appraiser will use recently sold homes nearby to estimate the price.
This is the basics of how the housing market works, how you think a home gains equity?
Well the point is that the homeowner doesn't know how much his properties are worth until the real estate agent does the market analysis based on comps. And just because the real estate agent thinks that the buyer could get 700K for a property because a house down the street sold for 700K does not mean that the house will appraise that high or that the bank or an insurance company will agree that the house is worth 700K.
As others have pointed out, if the offer comes in at 700K and the appraisal comes in at 600K then someone is going to have to come up with an extra 100K some way, somehow or the deal isn't going to fly.
Behind every great fortune is a great crime.
Honore de Balzac
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And Donald Trump could commit mass murder in plain sight and you would think he's innocent and the prosecution against him is a witch hunt because you worship him. No matter what bad things Trump did, or would do, he's innocent in your eyes.
Not quite.
He's not innocent. Nobody ever says he's innocent.
What they say is that they don't care, everybody does it so why pick on Trump?
My question is who's the next developer the New York Attorney General is going to go after for the same offense? I know many, many developers and every single one of them overvalues their holdings. The banks go along with it and know it's happening.
ehh, sure but when you undervalue your tax filing the same year you kinda shoot yourself in the foot.
How would he "know" that, are you saying he is psychic?
It doesn't seem fair that the left leaders yank the TDS cult members hopes around with all of these thousands of investigations in their attempt to "Get Trump by any means necessary".
As has already been covered and explained here, Trump has already got got, through fraud committed by his own hand. He is not only no longer in business in New York, he is banned from ever having a business license there again.
He had better hope that A) He has enough cash on hand to satisfy the judgement that is coming, or that B) His equity in his former assets that will be liquidated is great enough to satisfy the judgement. If not, he’s bankrupt.
Either way, ghis is just s warmup for the criminal trials yet to come.
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