@simonateba You tell him, Simon. Btw, Don didn't submit fraudulent claims. Youvcan value your property at whatever you want but the bank is going to take the appraiser's figure, not yours, when it comes to loaning money. That's not an opinion, that's a real estate fact.
@johnnybluenote @simonateba That reality is lost on every Trump hater. If you could just tell the bank what you own is worth a billion to get a billion we'd all be billionaires. Even applying for a credit card- you can say your income is whatever you want but Visa makes its own decision of your card amount.
@johnnybluenote @simonateba What makes this even weirder is it wasn't based on one property value, the loan was based on the estimated value of a real estate portfolio. The real estate portfolio that is owned by many entities, not only Trump...
@johnnybluenote @simonateba That’s not what Trump did though. He lied to pay lower taxes while also lying to banks when trying to get loans.
@johnnybluenote @simonateba Does that include LYING about how many sq ft your apt is? Those weren’t fraudulent submitted claims? Or a value of one prop of rentals that used numbers that ignored current NYC rent control? Were those fraudulent claims? Etc etc etc.
@johnnybluenote @simonateba The problem is very simple. Trump yo yo’d his worth. When tax time came he undervalued his property. But you all forget something. YOU. CANNOT LIE ON YOUR BUSINESS FORMS! Trump signed those forms and claimed he told the truth. If you lie to me to get a sale. I can sue
@johnnybluenote @simonateba Appraisals are only performed for the underlying RE collateral for the loan. Trump, lied and over inflated the value of ALL his assets in order to comply with a minimum net worth clause in exchange for a lower interest rate. In banking we call that fraud.
@johnnybluenote @simonateba Huh. Good thing we have courts to sort out these "real estate facts".