Not exactly the same, Jon Stewart sold his suite at 829% over estimate is not the same as Trump going to the bank asking for a loan and inflating his property value and fudge square space and whatever to make it happen. I know this is not the audience for it but it's not a good argument. I'm basing this off getting a loan from the bank and overinflating the asset used as collateral is a bigger deal because if you default on the loan the bank take the asset and finds out they can't hock it for the amount to recoup the debt they can come after your ass for lying. That said, people like me have to go to the bank hat in hand while they checked me for polyps to get a home loan, getting hundreds of millions in loans approved and the banks don't do their own assessments? Bull fucking shit.
I didn't watch Jon Stewart's video but I read parts of it and he said Kevin O’Leary said the quiet part out loud. No shit sherlock, that's not the point, the point is everybody does it AND THE BANK LETS THEM DO IT. You don't think the bank read the fucking loan applicant and go hmm... maybe this guy's bathroom isn't four stories tall and 15,000 sq ft. (too late and lazy to pull actual numbers)
Only difference is New York only went after Trump for it with a bullshit carney law and an even more carney judge.
You want to go after everyone and fine the banks and all those DNC backing New York businesses with the same thing? No? So it is just about getting Trump. Then we got nothing to talk about. Fucking hypocrites. Yeah Stewart, Kevin said the quiet part out loud, that's the point, it doesn't expose him, it exposes you.
It's pretty much the same thing. When I take loans on a property, I always argue for a higher value. When I pay taxes on it, I always dispute for a lower number. It's the same thing for selling.
When you go the bank for a loan, the bank themselves will check the property and assess if it can be sold for that value if you default. They don't just take whatever figure you give them. If they can not get that value back on your loan (and banks are generally VERY conservative about this value), then either something shifted majorly in the market or they had a very bad assessor on their part.
US Banks hate, hate having to deal with real estate, due to all the regulations involved if you default on the loan. So they purposefully setup alot of gatekeeping hoops to prevent you from getting said loan.
For example, if you, like me, wanted to buy raw land(no development, no house), you're shit out of luck unless you go specifically to a bank designed to handle such things. And you're still going to be jumping through hoops - land evaluation, land surveys, checking with laws in the local county, ect, ect.
This is why the entire Trump prosecution blows my fucking mind on how blatantly political it is. The far reaching repercussions are going to be insane, and we probably won't see full results for several decades - and by then they'll make excuses as to why all said bullshit happened.
unless you go specifically to a bank designed to handle such things
That doesn't sound like a bad thing. Getting a mortgage from Bank of America isn't exactly this spectacular win. Especially if they won't understand what you're doing.
Not exactly the same, Jon Stewart sold his suite at 829% over estimate is not the same as Trump going to the bank asking for a loan and inflating his property value and fudge square space and whatever to make it happen. I know this is not the audience for it but it's not a good argument. I'm basing this off getting a loan from the bank and overinflating the asset used as collateral is a bigger deal because if you default on the loan the bank take the asset and finds out they can't hock it for the amount to recoup the debt they can come after your ass for lying. That said, people like me have to go to the bank hat in hand while they checked me for polyps to get a home loan, getting hundreds of millions in loans approved and the banks don't do their own assessments? Bull fucking shit.
I didn't watch Jon Stewart's video but I read parts of it and he said Kevin O’Leary said the quiet part out loud. No shit sherlock, that's not the point, the point is everybody does it AND THE BANK LETS THEM DO IT. You don't think the bank read the fucking loan applicant and go hmm... maybe this guy's bathroom isn't four stories tall and 15,000 sq ft. (too late and lazy to pull actual numbers)
Only difference is New York only went after Trump for it with a bullshit carney law and an even more carney judge.
You want to go after everyone and fine the banks and all those DNC backing New York businesses with the same thing? No? So it is just about getting Trump. Then we got nothing to talk about. Fucking hypocrites. Yeah Stewart, Kevin said the quiet part out loud, that's the point, it doesn't expose him, it exposes you.
It's pretty much the same thing. When I take loans on a property, I always argue for a higher value. When I pay taxes on it, I always dispute for a lower number. It's the same thing for selling.
When you go the bank for a loan, the bank themselves will check the property and assess if it can be sold for that value if you default. They don't just take whatever figure you give them. If they can not get that value back on your loan (and banks are generally VERY conservative about this value), then either something shifted majorly in the market or they had a very bad assessor on their part.
Question: Are you saying that the bank checks your health before giving you a loan, in the States..?
That's pretty wild, to me, if so...
That's most definitely not a thing here, so good to know, if that's the case...
Depressing, but good to know.
It's a sarcastic expression that they're so thorough they even looked inside my asshole for a loan.
US Banks hate, hate having to deal with real estate, due to all the regulations involved if you default on the loan. So they purposefully setup alot of gatekeeping hoops to prevent you from getting said loan.
For example, if you, like me, wanted to buy raw land(no development, no house), you're shit out of luck unless you go specifically to a bank designed to handle such things. And you're still going to be jumping through hoops - land evaluation, land surveys, checking with laws in the local county, ect, ect.
This is why the entire Trump prosecution blows my fucking mind on how blatantly political it is. The far reaching repercussions are going to be insane, and we probably won't see full results for several decades - and by then they'll make excuses as to why all said bullshit happened.
That doesn't sound like a bad thing. Getting a mortgage from Bank of America isn't exactly this spectacular win. Especially if they won't understand what you're doing.