Cohen's mystery 3rd Client

[Darkballs]

^^^ A liberal feigning outrage over perfectly legal real estate transactions.

You see no issue with HUD giving $17 million in loans that are supposed to be to increase the number of homeowners in the US, to a guy who makes $60 million a year by jerking off this administration on air?

No conflict in millions of taxpayer dollars being used to increase the wealth of a party supporter instead of the middle/lower class?

 

[Fawlty]

Michael Cohen case shines light on Sean Hannity's property empire

When Sean Hannity was named in court this week as a client of Donald Trump’s embattled legal fixer Michael Cohen, the Fox News host insisted their discussions had been limited to the subject of buying property.


“I’ve said many times on my radio show: I hate the stock market, I prefer real estate. Michael knows real estate,” Hannity said on television, a few hours after the dramatic hearing in Manhattan, where Cohen is under criminal investigation.


Hannity’s chosen investment strategy is confirmed by thousands of pages of public records reviewed by the Guardian, which detail a real estate portfolio of remarkable scale that has not previously been reported.


The records link Hannity to a group of shell companies that spent at least $90m on more than 870 homes in seven states over the past decade. The properties range from luxurious mansions to rentals for low-income families. Hannity is the hidden owner behind some of the shell companies and his attorney did not dispute that he owns all of them.


Dozens of the properties were bought at a discount in 2013, after banks foreclosed on their previous owners for defaulting on mortgages. Before and after then, Hannity sharply criticised Barack Obama for the US foreclosure rate. In January 2016, Hannity said there were “millions more Americans suffering under this president” partly because of foreclosures.


Hannity, 56, also amassed part of his property collection with support from the US Department for Housing and Urban Development (Hud), a fact he did not disclose when praising Ben Carson, the Hud secretary, on his television show last year.

...

The Georgia purchases were funded with mortgages for $17.9m that Hannity obtained with help from Hud, which insured the loans under a program created as part of the National Housing Act. The loans, first guaranteed under the Obama administration, were recently increased by $5m with renewed support from Carson’s department.

Hannity, who is reportedly paid $36m per year for his television and radio shows, was criticised this week following Cohen’s court hearing, after it became clear he had defended Cohen and Trump on the air without disclosing that he also consulted Cohen for legal services.

He also declined to note his financial interest when he hosted Carson on Fox News last June for a discussion about Hud and housing. Hannity praised privatisation plans pushed by Trump and Carson.

“I know you’ve done a good job,” Hannity told Carson.

...

The Georgia mortgages supported by Hud were guaranteed as part of a program aimed at protecting investors such as Hannity who buy rental apartment buildings. The government promises to cover losses if borrowers default on their mortgages. Borrowers pay an insurance premium to Hud in return. Bigger loan guarantees are available if the building houses low-income families.

Paperwork relating to the agreements with Hud, which was filed to county authorities, named Hannity as the principal of the shell companies used to buy the apartment complexes and to borrow the funds. Hannity personally signed several of the documents. A Hud source said Hannity was identified in non-public filings as the 100% owner of the apartment complexes.

Late last month, Hannity’s mortgages were replaced with loans for $22.9m that were rewritten with Carson’s Hud and a new bank. There was no indication that Carson was personally involved in the process. Carson does, however, have the authority to allow Hannity from 2019 to convert the rental complexes into condominiums for sale, which could be lucrative for the television host.
​

https://www.theguardian.com/media/2...y-real-estate-ben-carson-hud?CMP=share_btn_tw

TL/DR - Attacking Obama for foreclosure rate while benefiting from the foreclosures by buying properties at discount from banks after previous owners defaulted on mortgages . Lamenting about home ownership at 51 yr low while buying up hundreds of properties to rent out. Praising Carson for doing a good job while benefiting directly from the very programs and not disclosing it - and could really cash in in 2019 from his HUD dealings (where Carson would have personal authority on the HUD decision).

So this is what it has come to- HUD is there to help Sean Hannity...

 

[bobgeese]

You see no issue with HUD giving $17 million in loans that are supposed to be to increase the number of homeowners in the US, to a guy who makes $60 million a year by jerking off this administration on air?

No conflict in millions of taxpayer dollars being used to increase the wealth of a party supporter instead of the middle/lower class?

You clearly are misunderstanding the situation. There is no controversy here. He’s simply buying houses that are “as-is”, they are on the market already as hud homes. You or I could go buy them as well.


“A HUD home is when a government-insured loan (FHA) gets foreclosed and the Federal Housing and Unban Development pays the defaulted loan off, and then puts the home on the market.
Many people are interested in buying HUD owned houses because of a possible low market value of the home. HUD does list the homes for a reasonable value, however, some great deals are available depending on the home and the price negotiated between the buyer and the listing HUD agency.
To purchase a HUD owned home you must work with a HUD registered real estate broker that can put in a bid on a home for you.
HUD owned homes are sold as is with no warranty of any type. It is your responsibility to get the home inspected in order to identify any potential or existing problems with the home.
HUD homes that are for sale can be a great way to purchase your own home or find opportunities for real estate investment properties.”

 

[Darkballs]

You clearly are misunderstanding the situation. There is no controversy here. He’s simply buying houses that are “as-is”, they are on the market already as hud homes. You or I could go buy them as well.


“A HUD home is when a government-insured loan (FHA) gets foreclosed and the Federal Housing and Unban Development pays the defaulted loan off, and then puts the home on the market.
Many people are interested in buying HUD owned houses because of a possible low market value of the home. HUD does list the homes for a reasonable value, however, some great deals are available depending on the home and the price negotiated between the buyer and the listing HUD agency.
To purchase a HUD owned home you must work with a HUD registered real estate broker that can put in a bid on a home for you.
HUD owned homes are sold as is with no warranty of any type. It is your responsibility to get the home inspected in order to identify any potential or existing problems with the home.
HUD homes that are for sale can be a great way to purchase your own home or find opportunities for real estate investment properties.”

And what is the point of this program? Are you gonna sit here and try and sell us the idea of the Fed using tax dollars to buy up property and put them back on the market, shouldn't be for the lower/middle class, as the program was designed, but instead would be for multi-millionaires to use shell companies to increase their vast real estate portfolio?

And it certainly isn't 100% legal if there was some inside dealing as to who was benefiting from these federal loans. And I have reservations of Sean fucking Hannity just happening on a set of loans from this administration. And I doubt the intelligence of anyone in this administration to have sufficiently covered their tracks. We'll get the rest of the info in the next two weeks. Not that it will matter to supporters. Here you are already defending the misuse of millions to tax dollars because it's "technically legal."

 

[bobgeese]

And what is the point of this program? Are you gonna sit here and try and sell us the idea of the Fed using tax dollars to buy up property and put them back on the market, shouldn't be for the lower/middle class, as the program was designed, but instead would be for multi-millionaires to use shell companies to increase their vast real estate portfolio?

And it certainly isn't 100% legal if there was some inside dealing as to who was benefiting from these federal loans. And I have reservations of Sean fucking Hannity just happening on a set of loans from this administration. And I doubt the intelligence of anyone in this administration to have sufficiently covered their tracks. We'll get the rest of the info in the next two weeks. Not that it will matter to supporters. Here you are already defending the misuse of millions to tax dollars because it's "technically legal."

You’ve gone full potato.


The reason these are available is so that foreclosed homes don’t pile up on your street and devalue the surrounding properties.


It’s not the misuse of tax dollars, it’s doing exactly what it’s meant to. Getting rid of foreclosed properties.


Did you think this was to get poor people to buy homes? If so, then you’re a complete idiot, because poor people don’t buy houses.


Literally real estate 101 brah, clearly you don’t.

 

[Darkballs]

You’ve gone full potato.


The reason these are available is so that foreclosed homes don’t pile up on your street and devalue the surrounding properties.


It’s not the misuse of tax dollars, it’s doing exactly what it’s meant to. Getting rid of foreclosed properties.


Did you think this was to get poor people to buy homes? If so, then you’re a complete idiot, because poor people don’t buy houses.


Literally real estate 101 brah, clearly you don’t.

Bullshit. That can be part of the missions statement of HUD. By that I mean keeping real estate values high/steady, is a portion of their mission. That doesn't specify loaning to already huge real estate portfolios. Fuck, the biggest crisis the HUD had in the '90's were loans to real estate speculators who sold at an inflated profit (to other speculators) and devastated the NY housing market.

So what the fuck do you think is going on here? That despite Hannity saying explicitly (when caught mind you; this fair and balanced journalist didn't disclose this very favorable loan when he sucked off Carson on air for Fox) that he worked with HUD for investments ("some guys play the stock market, I like real estate), you think this is actually part of developing urban housing? And it's just a stunning coincidence that the number one cheerleader of the trump administration gets to personally benefit financially from this?

Try again you russian twat.

 

[bobgeese]

Bullshit. That can be part of the missions statement of HUD. By that I mean keeping real estate values high/steady, is a portion of their mission. That doesn't specify loaning to already huge real estate portfolios. Fuck, the biggest crisis the HUD had in the '90's were loans to real estate speculators who sold at an inflated profit (to other speculators) and devastated the NY housing market.

So what the fuck do you think is going on here? That despite Hannity saying explicitly (when caught mind you; this fair and balanced journalist didn't disclose this very favorable loan when he sucked off Carson on air for Fox) that he worked with HUD for investments ("some guys play the stock market, I like real estate), you think this is actually part of developing urban housing? And it's just a stunning coincidence that the number one cheerleader of the trump administration gets to personally benefit financially from this?

Try again you russian twat.

LOL,


They don’t give a shit who’s buying the house, they just want to sell the house. Again, poor people don’t buy houses. People with the money to buy houses, who are eligible to check all the little boxes, buy houses.

I mean, did you even think about this? Even a little?

How long has Carson been at hud? How long has Hannity been in real estate? What percentage of those deals were done before Carson was at hud? On top of that you have to realize Carson would be so far separated from the decision making involved in these home sales, that to even suggest there’s somehow any type of impropriety action involved is just the lowest tier of political discourse.




Listen, we get it, you fell for a lefty outrage porn article about something you have no understanding of. Just admit this is a faux outrage piece and move on with your life.

 

[Darkballs]

LOL,


They don’t give a shit who’s buying the house, they just want to sell the house. Again, poor people don’t buy houses. People with the money to buy houses,

People who can get loans are the ones that buy houses. Now, at least $17 million worth of homes won't go to lower or middle class people applying for loans, because that money is earmarked for Hannity.

How long has Carson been at hud?

Bit over a year.

How long has Hannity been in real estate?

Who the fuck cares? Hannity could have been investing in real estate for decades or minutes. That has nothing to do with whether or not this deal was ethical. Or whether Hannity's on air praising of the Chairman who signed off on those loans, is just.

What percentage of those deals were done before Carson was at hud?

Zero

On top of that you have to realize Carson would be so far separated from the decision making involved in these home sales, that to even suggest there’s somehow any type of impropriety action involved is just the lowest tier of political discourse.

Carson has to sign off on every one of these loans. Granted, I don't think he cares enough to do his own research, or appoint anyone that would have the decency to appose such a loan, or even let him know about it. Regardless, his signature goes on it, and he's the fucking Chairman. The buck doesn't stop here with this administration? You're ok with "the best people," having a "fuck it, i don't need to understand what I'm signing," job policy?

You still haven't tried to even defend this shit beyond declaring it normal, when the entirety of the HUD's existence is expressly against this sort of favorable dealing. Not to mention the tie between rich-loan-recipient and media-trump-fanboy.

There is no way that trump supporters can argue that they would be ok with an Obama administration chairman giving favorable loans that were designed to help low and middle income American's, to Rachel Maddow, in secret, while she praised the administration and that chairman in particular.

You can call everything a nothingburger, but it's viewed as nothing but whining when taking into account such ethical flip-flopping.

 

[bobgeese]

People who can get loans are the ones that buy houses. Now, at least $17 million worth of homes won't go to lower or middle class people applying for loans, because that money is earmarked for Hannity.




Bit over a year.



Who the fuck cares? Hannity could have been investing in real estate for decades or minutes. That has nothing to do with whether or not this deal was ethical. Or whether Hannity's on air praising of the Chairman who signed off on those loans, is just.



Zero



Carson has to sign off on every one of these loans. Granted, I don't think he cares enough to do his own research, or appoint anyone that would have the decency to appose such a loan, or even let him know about it. Regardless, his signature goes on it, and he's the fucking Chairman. The buck doesn't stop here with this administration? You're ok with "the best people," having a "fuck it, i don't need to understand what I'm signing," job policy?

You still haven't tried to even defend this shit beyond declaring it normal, when the entirety of the HUD's existence is expressly against this sort of favorable dealing. Not to mention the tie between rich-loan-recipient and media-trump-fanboy.

There is no way that trump supporters can argue that they would be ok with an Obama administration chairman giving favorable loans that were designed to help low and middle income American's, to Rachel Maddow, in secret, while she praised the administration and that chairman in particular.

You can call everything a nothingburger, but it's viewed as nothing but whining when taking into account such ethical flip-flopping.

I would have no problem with Rachael Maddow buying a home through perfectly legal measures.


Also, your fantasy doesn’t match up with reality

“HUD committed a total of approximately $1.4 billion in funds to 296 projects from FY 2002 through FY 2007. The average loan amount was $4.9 million.



How many lower class people are getting loans for 5 million dollars?

 

[Darkballs]

How many lower class people are getting loans for 5 million dollars?

Packaged mortgages inflate the average.

But please, continue to educate us all on Real Estate 101.