Reply to What is going on with all the mortgage fraud?

Forum Index » Political Discussion

Reply to "What is going on with all the mortgage fraud?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Sheesh, stop paying attention to the lies from right wing media.[/quote]

Are you claiming that applying for mortgages on two properties, more or less simultaneously—and claiming both as your primary residence—is not mortgage fraud?[/quote]

MAGAs told me it’s not fraud unless you don’t pay back the loan and the bank loses money.[/quote] You get a lower rate if it’s your primary residence, but you have to swear to that effect. [/quote]

Donald Trump got a lower rate when he lied to banks about his assets.  MAGA said that was fine because he paid the loan.[/quote]

No, he actually didn’t, which is an important point.  He simply made a representation as to what his property was worth in attempting to secure a loan.  Properties are worth what someone is willing to pay at any given time, so the banks had an opportunity to conduct their own independent assessment; they did not dispute his assessment and granted the loan.  He did not receive any reduced rate, unlike Lisa Cook, and the bank did not suffer any harm.[/quote]

Lisa Cook just made a representation as to the property.  The banks had an opportunity to conduct their own independent assessment and granted the loan.  She didn’t get a reduced rate and the bank didn’t suffer any harm.[/quote]

Are you stupid?  There’s no gray area in designating a primary residence – you’re either telling the truth or you’re lying.

There is a lot of gray area in assessing the value of a property. That’s why properties sit on the market for months or a year and have multiple rounds of price reductions. It’s quite normal for a property owner to think their property is worth more than it actually is.

[b]Not to mention the rank hypocrisy of someone being essentially in charge of setting interest rates for the country and also cheating to get a lower interest rate for herself.[/b][/quote]

+1 The public trust is further eroded by this fact.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics