A New Investigation has found that Trump (R) has been Accused of Committing Mortgage Fraud. Trump Allegedly Claimed more than One Primary Residence, in a Bid for Lower Mortgage Rates. Mortgages for a Person’s Main Home often Qualify for Lower Interest Rates or more Favorable Terms than Mortgages for a Second Home, or an Investment Rental Property.
The Charges that Trump tried to Skirt the System are Bank Fraud, and making a False Statement, to a Financial Institution, while Securing a Mortgage for an Additional Home.
According to the Non-Profit NNewsroom ProPublica, Trump Signed a Mortgage for a “Primary Home” in Palm Beach, FL, in 1993. Less than Two Months later, He Filed for another Mortgage for a Separate Residence, which He once again Labeled as His “Primary Home".
“In Reality, Trump, then a New Yorker, does Not Appear to have ever Lived in either Home, let alone used them as a Principal Residence,” ProPublica found. “Instead, the two houses, which are next to his historic Mar-a-Lago Estate, were used as Investment Properties and Rented Oout.
The Trump Administration has been Vocal about its Belief that having Two “primary residence” Mortgages is Evidence of Criminality. Mortgage Law Experts who Reviewed the Records for ProPublica, were Struck by the Irony of Trump’s Dual Deals. “Given Trump’s position on situations like this, he’s going to either need to fire himself or refer himself to the Department of Justice,” said Kathleen Engel, a Suffolk University Law Professor and Expert on Mortgage Finance.
“Trump has deemed that this type of misrepresentation is sufficient to preclude someone from serving the country,” She added.
NYC Wins When Everyone Can Vote! Michael H. Drucker
No comments:
Post a Comment