Jon Stewart benefited by 829% ‘overvalue’ of his NYC home even as he labels Trump’s civil case ‘not victimless’

[Geoist]

“Fraud” has a loose meaning these days. Is it “fraud” to represent that a property is worth far in excess of its appraised value while only paying taxes on the lower appraised amount? If so, Stewart is just as guilty.

Show me the law that says it's illegal to sell your property far above market value.

 

[Airyaman]

“Fraud” has a loose meaning these days. Is it “fraud” to represent that a property is worth far in excess of its appraised value while only paying taxes on the lower appraised amount? If so, Stewart is just as guilty.

False. There is no fraud in selling or listing a property above it's appraised value. Please learn some basics.

Should You Pay Above The Appraised Value Of A House?

In today’s highly competitive housing market with scarce supply, buyers around the country are finding that the only way to win a bid on a house is to go all out, often paying well above the home’s appraised value. On the surface, this might seem like a risky move. You’re essentially starting wit

www.forbes.com

 

[CaughtInThe]

Do you understand the difference between what Trump and Stewart did with their properties?

Jon selling to the highest bidder has them frothing.

 

[Geoist]

i've always said that a TON of Americans suck at math and science.

i could add a lot of other things.

Economics and tax policy is definitely up there.

 

[ttwtt78640]

I think the Tish James prosecution, and specifically the penalty, to be unseemly and wrong….

Exactly, since the lender was content to issue the ‘secured’ (by a property lien) loan which was repaid. It’s not as if the lender ended up losing money by having to take possession of collateral worth less than the loan amount (after a default).

But this with Stewart is not remotely like what Trump was sued for, other than both involve properties valued in varying ways

It’s “remotely similar” for the buyer if they got a loan based on some allegedly ‘artificially inflated’ value (asking price set by the seller).

 

[Taylor]

Are you going to actually contribute to a conversation/debate for once or are you just going to waste bandwidth space as usual?

Go cry elsewhere.

 

[Taylor]

Do you understand the difference between what Trump and Stewart did with their properties?

Do you?

 

[ttwtt78640]

it's a sale

Yep, for an ‘inflated’ value, which was likely accepted by a (mortgage) lender.

 

[Napoleon]

False. There is no fraud in selling or listing a property above it's appraised value. Please learn some basics.

Should You Pay Above The Appraised Value Of A House?

In today’s highly competitive housing market with scarce supply, buyers around the country are finding that the only way to win a bid on a house is to go all out, often paying well above the home’s appraised value. On the surface, this might seem like a risky move. You’re essentially starting wit

www.forbes.com

According to you folks it is. At the core, Trump and Stewart did the same thing. They represented to third parties that the value of their property is far in excess of the appraised value they were paying taxes on and they “profited” from those representations.

 

[Simon W. Moon]

Jon Stewart benefited by 829% ‘overvalue’ of his NYC home even as he labels Trump’s civil case ‘not victimless’

Jon Stewart is facing online backlash after saying Donald Trump’s case overvaluing his properties was “not victimless,” and sleuths found his own records.

nypost.com

LOL the usual lib hypocrisy. If Trump got taken to court then so should Jon Stewart, but since he's a lib we know thats not gonna happen. Rules for thee but not for me.

the value assigned to my house by the tax assessor is MUCH lower than the value assigned to my house by the real estate assessor
by a factor ten, iirc

I did not participated in either evaluation of my house's value


How does the tax assessment system work where you are?

Do you get a chance to tell the tax assessors how to value your house?

 

[lwf]

Yep, for an ‘inflated’ value, which was likely accepted by a (mortgage) lender.

Did the lender accept it because Stewart submitted a fraudulent appraisal?

 

[samiam5211]

Jon Stewart benefited by 829% ‘overvalue’ of his NYC home even as he labels Trump’s civil case ‘not victimless’

Jon Stewart is facing online backlash after saying Donald Trump’s case overvaluing his properties was “not victimless,” and sleuths found his own records.

nypost.com

LOL the usual lib hypocrisy. If Trump got taken to court then so should Jon Stewart, but since he's a lib we know thats not gonna happen. Rules for thee but not for me.

He sold his home for what someone would pay for it.

People are really showing their ignorance here.

 

[CaughtInThe]

Yep, for an ‘inflated’ value, which was likely accepted by a (mortgage) lender.

wait. are you coming out against capitalism now?

 

[WillyPete]

It seems to me if there's anything shady here it's some sort of intentional overpayment as a perk for Stewart.

If the Trump had been honest in his disclosures and the banks, with the accurate information, decided to still give him the same terms he got in reality, that would also have been fine.

 

[samiam5211]

Yep, for an ‘inflated’ value, which was likely accepted by a (mortgage) lender.

Were they lending money to Stewart?

 

[Simon W. Moon]

According to you folks it is. At the core, Trump and Stewart did the same thing. They represented to third parties that the value of their property is far in excess of the appraised value they were paying taxes on and they “profited” from those representations.

Have you ever heard of equivocation?

It's a logical fallacy where you use the ambiguity of words to find to dissimilar things which can each have the same word applied to them and then you argue that because the same words apply to them they are the same sorts of things.

 

[Napoleon]

Did the lender accept it because Stewart submitted a fraudulent appraisal?

There is no shot that a lender would finance a purchase at ~21 times the appraised value. So either false representations were made to a lender or the purchase was in cash.

 

[j brown's body]

I think the Tish James prosecution, and specifically the penalty, to be unseemly and wrong….

But this with Stewart is not remotely like what Trump was sued for, other than both involve properties valued in varying ways

Misinformation has become an integral part of the GOP.

 

[Geoist]

Exactly, since the lender was content to issue the ‘secured’ (by a property lien) loan which was repaid. It’s not as if the lender ended up losing money by having to take possession of collateral worth less than the loan amount (after a default).

Bank fraud is illegal, whether or not you pay back.

 

[Napoleon]

Have you ever heard of equivocation?

It's a logical fallacy where you use the ambiguity of words to find to dissimilar things which can each have the same word applied to them and then you argue that because the same words apply to them they are the same sorts of things.

This is the same thing. If it is a fraud to represent to third parties that a property’s value is far in excess of its appraised value for the purpose of profit then Stewart is guilty.

 

[Taylor]

the value assigned to my house by the tax assessor is MUCH lower than the value assigned to my house by the real estate assessor
by a factor ten, iirc

I did not participated in either evaluation of my house's value

Tell that to Judge Engoron. He claims Trump overvalued his property by "at least 2300%" using a comparison to the value assigned by the country tax assessor.

 

[Geoist]

There is no shot that a lender would finance a purchase at ~21 times the appraised value. So either false representations were made to a lender or the purchase was in cash.

Considering the wealth of these people, it was more than likely in cash.

 

[Simon W. Moon]

He sold his home for what someone would pay for it.

People are really showing their ignorance here.

d-e-s-p-e-r-a-t-i-o-n

We ain't seen nothing yet.

As it becomes more obvious Donnie is going to face consequences for his actions, the rationalizations will become more unhinged

 

[LouC]

Has the New York Post handed over their unquestionable evidence to Letitia James that Jon Stewart committed the identical fraud crime that KING MAGAT did with his properties?

 

[lwf]

There is no shot that a lender would finance a purchase at ~21 times the appraised value. So either false representations were made to a lender or the purchase was in cash.

That should be easy to prove.