steve66613 wrote:
TOTAL BS! This crap, about Trump, has been completely debunked. Banks don’t lend without careful verification. And, taxes are paid on verified valuations.
Bob: the example would be: you telling the government that your mother’s basement (where you live) is worth more than it is, so she can pay more taxes.
When I got divorced, we owned two houses. The mortgage company wouldn't let us just take our names off the houses. We actually had to get a divorce settlement and then each of us had to apply individually for mortgage loans on the house awarded us in the divorce. Each house had to be "professionally" appraised. We didn't get to tell them what we thought it was worth, we had to prove it. Same thing happened when I used my house as collateral to purchase second property.