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Started By
Message
re: CNN: “Everyone in America commits mortgage fraud!”
Posted on 10/10/25 at 8:13 am to BuckeyeGoon
Posted on 10/10/25 at 8:13 am to BuckeyeGoon
quote:Can't be everyone in America because my house is paid off. I have no mortgage up in this house!
Oh yeah everyone in America takes out mortgages for multiple properties in different states.
0
Posted on 10/10/25 at 8:14 am to Bigdawgb
Yes 4 units is the cut-off for mortgage and insurance before it is considered commercial.
Posted on 10/10/25 at 8:15 am to stout
My family lives on investment property. Never has my father I or my sister ever lied on any loan application. It’s not worth the risk to me
Posted on 10/10/25 at 8:15 am to stout
quote:
kasie Hunt
Is obviously committing mortgage fraud.
quote:
Everyone
quote:
The U.S. homeownership rate was 65.1% in the second quarter of 2025
quote:
around (3%) of homeowners owned more than one property, which would include vacation homes and rental properties.
quote:
In 2018, 6.7% of individual tax filers reported owning rental properties, which would include multi family primary homes and secondary rental properties.
Sounds like a 1% problem where people own a primary home and a different rental home.
Posted on 10/10/25 at 8:16 am to stout
quote:But democrats and the MSM only want to charge OMB for this utterly meaningless crime.
CNN's @kasie Hunt, who rivals CNN's @abbydphillip for the "dumbest news anchor on television," attempted to defend Letitia James by claiming that everyone in America who buys a house does the same thing as James but doesn't get investigated.
Posted on 10/10/25 at 8:17 am to winkchance
What is the cost of those apples have to do situation at hand ? They aren’t talking about the value of those apples as much as the loans it took to buy them to sell. You borrowed money to buy them and lied about the facts saying you were going to eat them so they gave you a cheaper interest rate. Not only did you know you were planning on selling them therefore beating them out of interest rate charge but incorporated other people to help you with the purchase and the lie.
Posted on 10/10/25 at 8:18 am to stout
But everyone in America does not indict a Presidential Candidate to affect/“rig” the election.
Everybody knows what went down. More mind games and lawyer BS. These are the same people that think Charlie Kirk had it coming. Ignore them. “Full speed ahead, damn the torpedos”.
Everybody knows what went down. More mind games and lawyer BS. These are the same people that think Charlie Kirk had it coming. Ignore them. “Full speed ahead, damn the torpedos”.
Posted on 10/10/25 at 8:20 am to stout
But...TRUMP
Posted on 10/10/25 at 8:22 am to Nosevens
quote:
Not only did you know you were planning on selling them therefore beating them out of interest rate charge but incorporated other people to help you with the purchase and the lie.
Exactly, primary home rates are lower, because the risk is lower.
If you stop paying you lose your home.
quote:
The chance of default and uncertainty around rental income make interest rates for investment properties higher than those for primary homes.
If you stop paying on a rental, you can still collect rent and walk away with a lot of cash.
If you stop collecting rent, you might default on a secondary.
It's more risky and she hid the risk from the bank.
Posted on 10/10/25 at 8:24 am to stout
I'm not defending CNN because they are dead wrong.
But more than once in buying rental properties, Ive been told by a real estate agent to claim it as a primary residence to get a better rate and had lenders that were willing to send it to underwriting like that.
Real estate agents are typically failures that are attractive enough not to be homeless.
But more than once in buying rental properties, Ive been told by a real estate agent to claim it as a primary residence to get a better rate and had lenders that were willing to send it to underwriting like that.
Real estate agents are typically failures that are attractive enough not to be homeless.
This post was edited on 10/10/25 at 8:27 am
Posted on 10/10/25 at 8:26 am to Nosevens
quote:
They aren’t talking about the value of those apples as much as the loans it took to buy them to sell.
To be fair, values do come into play because if she had been honest about the use of the house, her down payment would have been required to be larger. On multi-family family you are usually looking at 30% down vs 20% down for a SFH rental and as little as 3% down for a primary residence.
Posted on 10/10/25 at 8:27 am to The Torch
quote:
These people are nothing but paid actors, they have people telling them what to say.
And the more bizarre the more clicks they get
And then they get all indignant when people no longer trust them.
Posted on 10/10/25 at 8:30 am to stout
the deflection for James is a baaaad look for the dems. She screwed herself with all of her "I'm going to get Trump" and " no one is above the law" rhetoric and now she's been busted doing essentially what she accused Trump of. Except her case is actual fraud and not some made-up crime.
Posted on 10/10/25 at 8:33 am to stout
Also when has the excuse everyone else is doing it ever worked?
If you get pulled over for speeding can you just tell the cop everyone else was speeding too and then be let go with no ticket?
If you get pulled over for speeding can you just tell the cop everyone else was speeding too and then be let go with no ticket?
Posted on 10/10/25 at 8:34 am to Vacherie Saint
Posted on 10/10/25 at 8:34 am to Vacherie Saint
quote:
Except her case is actual fraud and not some made-up crime.
Yea the lower rates isn't as concerning as lying about a 5 unit complex. I think she could walk if it was just about lying to get lower rates on her second home but lying about 5 units vs 4 to obtain a residential mortgage with a lower downpayment requirement is the one that will nail her.
Posted on 10/10/25 at 8:36 am to winkchance
quote:
This idea that I have apples to sell and I think they are worth 50 cents and you think they are worth 40 being somehow fraudulent is childish and ignorant Marxism playbook BS.
that's not what this was jethrine this was about mischaracterizing of a rental property as a primary residence that's a big no no.
you see aunt pearl when you buy a rental property you pay a higher interest rate and it requires a larger down payment, something that will never concern you, as you'll own nothing and like it!
Posted on 10/10/25 at 8:38 am to stout
Everyone in media who agrees with that should be investigated for mortgage fraud
Posted on 10/10/25 at 8:39 am to stout
Again... the left or evil bastards and as usual they think everyone does evil crap just like they do. They can't comprehend that some people are decent law abiding citizens that don't lie with ever word they speak. It is totally foreign to them.
Posted on 10/10/25 at 8:40 am to anc
quote:
Ive been told by a real estate agent to claim it as a primary residence to get a better rate and had lenders that were willing to send it to underwriting like that.
Yea Real Estate agents look at a 5 digit pay day and are willing to tell you to commit fraud...
It's on you if you follow through with it, they will deny it, and it's your signature on the application.
Once they made the sale they couldn't care less if you go to jail.
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