Posted on 02/25/2024 4:53:35 AM PST by MtnClimber
Like millions of Americans before me, I’ve done exactly what Donald Trump did; namely, sought a loan based upon my best estimate of what my property was worth—and I didn’t look to what the tax assessor said in reaching that value. However, as part of the Democrats’ lawfare, Letitia James twisted a perfectly ordinary act into something evil, and a partisan judge put his imprimatur on her efforts. If it’s allowed to stand, the results will be devastating, not just for the political class but also for normal Americans.
In December 2020, I had to put my home on the market and move 1,000 miles away. Two months before, I’d considered refinancing my mortgage, and the bank gave me a valuation of $285,000. I thought it probably should have been higher, but didn’t really feel like taking the time to investigate because I wasn’t really that worried about it.
That changed in December when I was forced to worry about it. So, I reached out to a realtor friend (an actual realtor, not a guy with a side gig) and asked him to give me an estimate. He thought the house would probably sell for about $305,000, maybe $315,000 tops. Again, I was skeptical, so I started doing my own research. I looked at my community, what was available in my county, and what comparable houses were selling for. I also took note of the neighborhoods, roadways, schools, etc. After all of that, I estimated my house was worth about $400,000. I thought it could sell for $415,000 or even a bit more.
We put it on the market at $405,000 and, ten days later, it was sold with the buyers offering $395,000. We eventually settled for $400,000. I was confident it could have sold for more...
(Excerpt) Read more at americanthinker.com ...
Darn maybe I can donate to Biden’s campaign to throw them off my track. Did I mention Michelle was the most beautiful first lady in US history?
Isn’t it up to the loan-GIVER to have the property value assessed?
You don’t walk into a loan office and say - “hey, I have this 10x10 shed.. I want a $200,000 loan on it!…”
Jay-walking is a much more serious crime than this.
That increase in value is really the drop in value of your money. We cannot live with galloping inflation.
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America actually does have a gestapo now. They don’t go after criminals. They go after Americans who won’t toe their line. Americans aren’t free anymore. I now understand why we heard so much about the Kenyan’s “seventeen intelligence communities” all standing around crying and sobbing on election night when we learned that Donald Trump had been elected.
Trump was still potus when I bought with 2.5 interest rate so that is basically free money being eaten up by galloping inflation.
I have a friend who bought a house I helped flip. He paid about $175k when he was done he listed it at $275k. The buyer was willing to pay the $275k. The bank would only go $250k. Was my friend a criminal for trying to get the $275k?
Remove Trump from the equation. This ruling means ANY politician should be very worried. How many of them have received a loan based on a property value? If there’s any dispute on the value of the property than they’re as guilty as Trump - and this is only one creative way for a DA and a judge to unilaterally apply a ‘fraud’ case, I’m sure there’s other ways.
The D’s do realize this exact same process could be applied to them right?
This is a high crime. They’ve applied excessive fines. They’ve abused their authority. They’ve only applied this to a single, targeted, individual and claim they’re not going to do this to anyone else - violating the concept of laws being applied equally. They’ve wasted taxpayer money.
Not only should they be removed from office, they should lose their licenses and be prosecuted with the potential of prison time. That is the only way this nonsense will stop.
When will the R’s wake up and realize there’s nothing constraining this? It could be applied to any of them tomorrow. Put your hatred for Trump aside and do the right thing.
Only if you’re consumed with hatred for Trump can you contort yourself to believe this is, in any way, justifiable - it’s a complete distortion of the spirit of the law and is plain for all to see.
Well.......if you kiss Obama’s tokus on broadcast TV........
you might have a chance to avoid capital punishment.
Both James and Engoron should be charged with this violation and made to pay damages to Trump under a Malicious Prosecution tort.
Clearly CA has something against cordless drills.
Why now would anyone who makes or takes loans that involve large sums of money stay in New York? This Engoron/James action puts a money target on the backs of everyone who deals in loans and interest. they are all potential sources of money for the State.
Most of the commentary I’ve seen is based on a false equivalency. People talk about selling real estate, while Trump was getting financing using real estate as collateral. The rules are different.
The bank has already let me know how much I can leverage my property to finance another. The bank is not basing this on what I am estimating.
Well exactly. But I keep reading people selling real estate, which is what the author of the Thinker article is writing about.. That’s not the same as seeking financing and using real estate or other asset as collateral. It’s a false equivalency.
This wasn’t even a crime, no matter how much Engmoron twists the law to try to make it one.
And the Supreme Court should revisit the the Fiction they created out of thin air called “Qualified Immunity”, this is the most egregious case of Deprivation of Rights in American History and will not stop until the Court reverses it’s MADE UP LAWS protecting the Government Criminals.
bbb 4 dist
This whole bogus charade really gets me worked up. I already own Boardwalk. I used it as collateral to buy Park Place and the bank agreed to finance. What crooked judge that already hates me, working with an AG that campaigned to get me can now say Boardwalk is only worth 18 million so therefore I overestimated the value and I must pay half a billion in 30 days or else? It is political persecution. Election interference. Do not pass go. The judge and AG must go to jail! If they can do this to Trump they can use it on any real estate transaction...if you are in the wrong party. Meanwhile Biden finances his deals using China as a bankroll. Nothing to see there...move along.
The value of real estate is what someone is willing to pay for it today.
Maybe Ms. James and her co-conspirators might agree that the estimated value of all Manhattan real estate is over $3 trillion dollars, even though it is rumored that the entire island of Manhattan was bought from the Indians living there at the time for $24 worth of beads.
So how does this judge value the price of Manhattan if the ancestors of the original occupants want their repayment?
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