coderanger posted:
This is similar to the Trump case where he is charged with inflating assets\property for his loan, which is weird, the lenders were happy with this value Trump stated for his properties.... the lenders were paid back, only the State of New York had a problem, during an election year, not during the year of the transaction.
Response:
My wife gave me another analogy when this issue broke:
Assume you wanted to borrow 20K to remodel and use your home that you valued at 100K as collateral.
The lender felt your home was only worth 75K but approved your loan anyway.
The loan was repaid, the bank profited from the interest, the home was remodeled, the contractor was happy to be paid promptly, and years later, you get arrested.
Last edited by chuck; 06/12/2024 06:16 AM. Reason: typo
