r/TrueReddit • u/propublica_ • 4d ago
Politics Trump Is Accusing Foes With Multiple Mortgages of Fraud. Records Show 3 of His Cabinet Members Have Them.
https://www.propublica.org/article/trump-cabinet-mortgage-fraud90
u/propublica_ 4d ago
The White House has targeted opponents, including a Fed governor, for having more than one primary residence on their loan papers. ProPublica found that, in one case, a Trump cabinet secretary got two such mortgages in quick succession.
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u/stay_fr0sty 4d ago
You save a percent on a mortgage if you claim you will live there (owner occupied), and intend to live there for a while.
If you are buying investment property (non-owner occupied) the banks charge you a little extra for the extra risk of you walking away.
I’m pulling numbers out of my ass, but I’d guess at least 33% of people financing two homes participate in this fraud. It’s very hard to prove that you didn’t actually intend to live there and if you make all your payments nobody even looks to see where you are living.
It’s got to be by far the most rampant form of mortgage fraud.
Yes Trump can use lawfare here to go after his enemies, but his cabinet is going to be FULL of assholes that participated in this same scheme. It’s like checking a box to save you $50,000 over the life of a loan with almost no risk of getting caught.
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4d ago
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u/BIGBEAUTIFULPOSTS 4d ago
BIG NEWS 🚨- TRUMP IS A PEDOPHILE. HE IS WITHHOLDING THE RELEASE OF THE EPSTEIN FILES BECAUSE HE IS IN THEM.
GIVING THE PEDO KING CONTROL OF THE FED IS BAD.
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u/Bawbawian 4d ago
understand this.
they don't care even a little bit about hypocrisy.
youre never going to get them in some gotcha moment where you say haha you're doing this illegal thing too.
becaue It doesn't matter. prosecuting people for crimes that they themselves are committing is just another way to flex that the law is little more than their fist.
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u/hydroxy 4d ago
This is what America wanted and the election made it more clear than ever.
The grand aim is to create a strongly divided two tier system where the dominant caste can rule over the subservient caste.
The surprising thing is that both castes are happy to create this system including the subservient caste who seemingly want to fuck over both themselves and their descendants.
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u/karmapopsicle 3d ago
That subservient caste has been convinced that they’re part of the dominant caste. Until one day they finally realize they’ve been under the boot the whole time, and it’s too late to change anything.
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u/mremrock 4d ago
Meanwhile trump lied about the value of his own properties and del like a victim because someone called him on it
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u/digitalnomad_909 4d ago
Now we’re trying to reason with stupidity and no logic. There’s no winning this. I’m sure Trumps cabinet would be okay taking the fall to make sure the Fed becomes all his.
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u/Used_Atmosphere_124 4d ago
didn’t his son just set up a company in Chicago to be able to take payments (bribes) legally..
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u/discoduck007 4d ago
These people wouldn't know their own irony if it was slapping them in the face.
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u/outerworldLV 4d ago
He should know. He’s an expert at mortgage fraud. Always has been and was finally convicted of it, only to have some top secret appeals court rule otherwise. He has always been an informant imo. That’s how he’s managed to avoid consequences over and over again. Don’t know what government agency decided he’d be a good asset but it’s time to out him, maybe have Tulsi do it…
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u/Mountain-Detail-8213 4d ago
Meanwhile, he’s already been convicted of mortgage fraud. What a piece of shit.
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u/GDstpete 4d ago
And we still have no definite proof how many times did Trump lie on commercial applications, overinflated, appraisals, and other nefarious accounting tricks!
Hopefully the AG of New York will reopen investigations !
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u/Necessary_Cheetah_36 4d ago
Dems who try to appear above the political fray by justifying this lawfare will eventually find themselves the targets of this abuse of power.
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u/Frequent_Clue_6989 3d ago
// Trump Is Accusing Foes With Multiple Mortgages of Fraud
Lawfare realpolitik. You can't lawfare without expecting it to be used on you. I say that descriptively, not prescriptively. Accuse the guy down the street of cheating on his taxes, and don't be surprised to have a knock at your door from the IRS "hey, we heard from the guy down the street you cheat on your taxes". In a society with broad goodwill among citizens, we wouldn't have such kinds of political maneuvering. But, when the left lawfares against its opponents, it shouldn't act surprised to see everyone else doing the same thing.
I saw a commercial a few years ago where a thief put on a ski mask right before entering a convenience store to commit an armed robbery. But to his surprise, the cashier also had a ski mask on and was armed with a gun; the customers all had ski masks on and were armed with guns drawn; and the police had ski masks on and guns drawn. The thief was disoriented; his advantage was neutralized, and in just a few seconds, he became scared, noped out of there, and fled the scene as quickly as possible without committing the crime.
Let the lawfare-ing left who has ears to hear, hear!
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u/dover_oxide 3d ago
I might be wrong but wasn't he convicted of multiple cases of financial fraud? I might be confusing him for John Barron or John Miller. /s
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u/FunTulsaGuy 2d ago
It is ok for his people to do this. Don't you understand? His people are "special". They kneel before him and well make him happy!
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u/Apost8Joe 4d ago
I despise Trump as an enormous POS but to be fair this article poorly attempts to reframe the problem by conveniently skirting the real issue - that she took out an owner occupied mortgage then nearly immediately turned around and rented it out. That’s a problem and yes is technically mortgage fraud. Who cares if anybody has a few owner occupied loans on second or third homes - the immediate rental is the fraud.
She has a problem. Very stupid and short sighted thing to do for such a high profile public official.
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u/jacobb11 4d ago
She's playing 4D chess. A few hundred more incidents of similar fraud and she will be eligible to run for president.
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u/Necessary_Cheetah_36 4d ago
In a neutral political climate where the government went equally and fairly after everyone, I might agree with you. But installing officials who abuse their government records access to dig up dirt on opposition figures is clearly an abuse of power.
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u/Apost8Joe 4d ago
You present a false dilemma. Of course Trump's abuse of power is absurd; that asshole should have been in prison since Jan 6 insurrection. But also wrong is mortgage fraud - which Fed lady appears to have committed by immediately renting out an owner occupied mortgage. Nobody really cares about mortgage fraud, and it pales in comparison to Trump's damage. Both can be true.
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u/Necessary_Cheetah_36 3d ago
Fine, then it's about the disparity of consequences. If the Justice Department only goes after Democrats on the Epstein list, the problem is that they're letting Republican sex offenders off the hook, not that any of the Democratic ones are being rightfully prosecuted.
For checking a box on an application? Yeah, I think she should pay a big fine for what she gained. How do you justify kicking her off the Fed Board with no legal authority, no parallel investigations into allied politicians with similar mortgage issues, and most crucially, no conviction. I think for smaller crimes, selectively targeting one party with maximal punishment should be grounds for dismissal.
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u/fuweike 4d ago
Real estate experts say claiming primary residences on different mortgages at the same time is often legal.
How can they honestly claim this? It's contrary to the plain language of what these words mean.
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u/FesteringNeonDistrac 4d ago
Buy a house as your primary residence. Live there a while. Buy another house as your primary residence. Don't sell the old one. Live in new house.
Now, there is no law as far as I know that requires you to refinance the original house.
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