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Can Trump be in legal trouble for getting loans on his properties by inflating the value of the property?
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February 3rd, 2023
from iPhone
I don’t understand it. My husband said on MSNBC today they were talking about Trump getting a mortgage, or maybe it was a line of credit, on a property that he bought for $5 million, but then Trump said it was worth $60 million.
Why does it matter at all what Trump said it was worth? Loan officers decide what risk to take, and usually they rely on appraisers. Appraisers have rules and laws they have to follow to estimate the value of a property, they can’t just write down any old number just because the owner likes the number.
I don’t see how Trump has any legal culpability, but I’m assuming I’m missing something, so I came to the collective to explain it to me.
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