Truth Detector (04-24-2018)
Yep. A lot of people don't go to real estate auctions anyway, and when they are the same handful of folks, it becomes a wink and a nod even if they do not go as far as paying them directly not to bid. Some times karma catches up with 1 or 2 of them. Know one guy who screwed himself big time trying to get around an auction term that the property had to be owner occupied. He was a well known flipper and decided he would out maneuver them and buy it in the name of his son, make it son's official address, and secure himself with only a deed of trust. Gets it, does a ton of renovation/upgrades to the property, and when he goes to sell it he wanted son to convey back to him at which time he discovered that son had a massive number of judgments, including some pretty high child support liens some before and some after the mortgage, leaving the dad upside down on the property if son conveyed it back and him making no money if he foreclosed.
Truth Detector (04-24-2018)
I mean I strongly dislike Hannity but this is the ultimate hit piece. Just blatant outright dishonesty and lies.
First, they blast him for using "shell companies." Yeah, cause they are basically required by lenders so one property doesn't get tied up with all the others in a bankruptcy or workout. HUD probably requires a single asset entity created for each property, which is probably what's going on with the 'shell' nonsense.
The Guardian article in the OP says HUD insures investors against losses. Yeah, they insure the lender from losses, not the borrower, even though borrower pays the premium for lender protection. The article makes it sound like Hannity is insured if the deal goes bad. Nonsense, the lender is protected.
He probably used HUD for low income stuff, cause you can get a sweet rate for a 35 or 40 year loan. I personally think they are way too aggressive in general, as are Fannie/Freddie on conventional deals that life co's or banks would love anyway but they get beat by the government. I think they should all just be focused on funding new workforce housing or low income deals because I think it's true you can't build that shit for the right cost today, hence every new multi deal is a luxury product that needs to hit high rents to make the costs work.
Hannity probably pays someone to take of this sh*t anyway. Regardless the article is F.O.S. regarding how the process works.
Clearly, neither does Sean Hannity, otherwise he wouldn't let himself be made such a total chump out of like that, then appear on TV as a blowhard gasbag know it all about everything else he doesn't know his ass from hole in the ground about.
Still, he's a right wing hero though.
C'MON MAN!!!!
Hanutty is involved in questionable real estate deals. Real estate is the vehicle that the Russians used in their international money laundering schemes,. I can see the Trump/Hanutty connection.
Last edited by Nordberg; 04-24-2018 at 07:14 PM.
TTQ64 (04-24-2018)
Truth Detector (04-24-2018)
"When government fears the people, there is liberty. When the people fear the government, there is tyranny."
A lie doesn't become the truth, wrong doesn't become right, and evil doesn't become good just because it is accepted by a majority.
Author: Booker T. Washington
"When government fears the people, there is liberty. When the people fear the government, there is tyranny."
A lie doesn't become the truth, wrong doesn't become right, and evil doesn't become good just because it is accepted by a majority.
Author: Booker T. Washington
Yes he did.
No I'm not.
Anyone with a functional brain who spends the kind of money he does investing in real estate, should have made it a point to find out for himself what kind of money the guy he's paying paid for the property to begin with.
Basic common sense.
You just shill for any and all obnoxious right-wingers, no matter how much they suck.
C'MON MAN!!!!
If you're buying multiple properties from the same person over a long period of time, you have obviously developed a working relationship and spend time talking to each other about the deals you're making. Especially when you're a high profile media figure like Hannity.
Sounds like maybe they have some kind of kick back scheme working, probably to defraud the govt.
If anyone doesn't know how things work, it's you.
Or else you're just lying to shill for your hero.
C'MON MAN!!!!
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