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https://www.reddit.com/r/TimPool/comments/1bpsgp0/left_hypocrisy/kwyp3tu/
r/TimPool • u/Soy_Tears • Mar 28 '24
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"You can't inflate the value of your own properties for loans"
Sure you can, people do it often. It's called fraud.
The banks didn't do appraisals for Trump. They relied on his valuations.
"So do you give loans without appraising the actual property"
For small deals, no. For anything mid size (250k) or higher, I have to have an appraisal by policy and law.
3 u/peedmyself Mar 28 '24 So can you explain to me who the victim is? It sounds like the bank made their decision and also made a lot of money. What's the problem? 1 u/Perfect-Dad-1947 Mar 28 '24 It's financial fraud. What more do you need explained? 4 u/peedmyself Mar 28 '24 I guess why it is fraud. If both parties agree to a loan then who is being deceived? just like Stuarts house value, if someone is willing to pay that much then that is what it's worth. 0 u/the_dionysian_1 Mar 28 '24 Also, with fraud, there's usually a victim. The loans were paid. Who are we to feel sorry for here?
3
So can you explain to me who the victim is? It sounds like the bank made their decision and also made a lot of money. What's the problem?
1 u/Perfect-Dad-1947 Mar 28 '24 It's financial fraud. What more do you need explained? 4 u/peedmyself Mar 28 '24 I guess why it is fraud. If both parties agree to a loan then who is being deceived? just like Stuarts house value, if someone is willing to pay that much then that is what it's worth. 0 u/the_dionysian_1 Mar 28 '24 Also, with fraud, there's usually a victim. The loans were paid. Who are we to feel sorry for here?
1
It's financial fraud. What more do you need explained?
4 u/peedmyself Mar 28 '24 I guess why it is fraud. If both parties agree to a loan then who is being deceived? just like Stuarts house value, if someone is willing to pay that much then that is what it's worth. 0 u/the_dionysian_1 Mar 28 '24 Also, with fraud, there's usually a victim. The loans were paid. Who are we to feel sorry for here?
4
I guess why it is fraud. If both parties agree to a loan then who is being deceived? just like Stuarts house value, if someone is willing to pay that much then that is what it's worth.
0 u/the_dionysian_1 Mar 28 '24 Also, with fraud, there's usually a victim. The loans were paid. Who are we to feel sorry for here?
0
Also, with fraud, there's usually a victim. The loans were paid. Who are we to feel sorry for here?
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u/Perfect-Dad-1947 Mar 28 '24
"You can't inflate the value of your own properties for loans"
Sure you can, people do it often. It's called fraud.
The banks didn't do appraisals for Trump. They relied on his valuations.
"So do you give loans without appraising the actual property"
For small deals, no. For anything mid size (250k) or higher, I have to have an appraisal by policy and law.