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I think many posters fail to see that homeowners like us may end up in the crosshairs as well.
I use this example before:
I buy a home worth $500,000 but believe it's worth a million because it once belonged to
a very famous person and will sell for that price .
Bank approves loan for a greater amount. Great !
Somewhere down the road "Jesse James" and company steps in.
Sees I inflated property value. Accuse me of fraud. Sue me and fine me for fraud.
Not so great !
The case against Trump set a bad precedent.
Invest at your own risk or leave.
Guess what?
Investors are leaving.
This has been a topic on here for at least a month now and despite that, you seem to omit, or forget, one glaring detail
The square footage was falsely stated
10k sq ft is 30k sq ft in Trumpland
So when you go buy your house worth 500k and its 1700 sq ft
And you want to get a loan using your 500k 1700 sq ft house as collateral.
You go tell the bank
It's 3400 sq ft instead.
Report back and let us know how it works out for you.
__________________
"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
This has been a topic on here for at least a month now and despite that, you seem to omit, or forget, one glaring detail
The square footage was falsely stated
10k sq ft is 30k sq ft in Trumpland
So when you go buy your house worth 500k and its 1700 sq ft
And you want to get a loan using your 500k 1700 sq ft house as collateral.
You go tell the bank
It's 3400 sq ft instead.
Report back and let us know how it works out for you.
Give me any residential address and I can find the sq footage within less than a minute, you think banks just go on your word and don’t actually do their own version of what I do? Sounds like the bank is at fault for not doing due diligence.
Until 08 real estate appraisers added bathrooms and bedrooms on orders to get higher values. I know someone who did this and all the details. That all got shut down and changed after.
This has been a topic on here for at least a month now and despite that, you seem to omit, or forget, one glaring detail
The square footage was falsely stated
10k sq ft is 30k sq ft in Trumpland
So when you go buy your house worth 500k and its 1700 sq ft
And you want to get a loan using your 500k 1700 sq ft house as collateral.
You go tell the bank
It's 3400 sq ft instead.
Report back and let us know how it works out for you.
The following is only an opinion.
Sorry ...............but it appears many haters are stuck on semantics. See it all the time. Cross your T's and dot your I's or else.
What you call unoccupied space, lack thereof ( indoor/outdoor ) I can call livable square footage with legal adjustments.
Like I said....Assessor agreed,Banker Agreed. Loan approved. Loan Paid. No victim...........
But that is where most posters get stuck.......on the wording ........the verbatim.
In that case Trump can easily go after L.J. for making threats to take him down once she came to power.
Another topic of discussion.
Reminds me of a car accident I witnessed many many years ago.
Truck sped thru a red light about 40 miles an hour and injured someone.
In a deposition I wrote 40 miles an hour. In court I said 50 miles an hour.
Man..oh man... the lawyer was on me like a hornets nest.
I turned and went right back in his face.
I don't care if I said 30,40 or 50 miles an hour. The Truck ran the red and a man was injured.
Case closed. Verdict in favor of the injured.
Unfortunatley for N.Y.C. Common Sense is not so common. Let's hope appeals proves me wrong.
Last edited by Mr.Retired; 02-23-2024 at 06:06 PM..
Give me any residential address and I can find the sq footage within less than a minute, you think banks just go on your word and don’t actually do their own version of what I do? Sounds like the bank is at fault for not doing due diligence.
Until 08 real estate appraisers added bathrooms and bedrooms on orders to get higher values. I know someone who did this and all the details. That all got shut down and changed after.
Most municipalities have the sq ft of every structure within its confines recorded, NYC definitely does
I'm surprised they not going after the banks too for this nonsense
__________________
"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
Sorry ...............but it appears many haters are stuck on semantics. See it all the time. Cross your T's and dot your I's or else.
What you call unoccupied space, lack thereof ( indoor/outdoor ) I can call livable square footage with legal adjustments.
Like I said....Assessor agreed,Banker Agreed. Loan approved. Loan Paid. No victim...........
But that is where most posters get stuck.......on the wording ........the verbatim.
In that case Trump can easily go after L.J. for making threats to take him down once she came to power.
Another topic of discussion.
Reminds me of a car accident I witnessed many many years ago.
Truck sped thru a red light about 40 miles an hour and injured someone.
In a deposition I wrote 40 miles an hour. In court I said 50 miles an hour.
Man..oh man... the lawyer was on me like a hornets nest.
I turned and went right back in his face.
I don't care if I said 30,40 or 50 miles an hour. The Truck ran the red and a man was injured.
Case closed. Verdict in favor of the injured.
Unfortunatley for N.Y.C. Common Sense is not so common. Let's hope appeals proves me wrong.
Let's not operate on what-ifs, time is too precious of a thing
__________________
"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
Most municipalities have the sq ft of every structure within its confines recorded, NYC definitely does
I'm surprised they not going after the banks too for this nonsense
Selective persecution. If they do go after the banks (which I doubt), they'd be going after the financial system that supports NYC. Not a good move. NYC has already damaged it's with this court decision.
Selective persecution. If they do go after the banks (which I doubt), they'd be going after the financial system that supports NYC. Not a good move. NYC has already damaged it's with this court decision.
So if its so selective, go request a loan from the bank, put your house up as collateral, and give them the wrong square footage
Let us know how it works out
__________________
"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
How about replacing Leticia James, Alvin Bragg and disrobing Judge Engoron? It's easier than having the masses move!
Won't happen as too many NYers have no idea what they are really doing. Now with the crime, illegals, cost of living in NYC - they may turn against them but I wouldn't bet on it.
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