How Fred Trump’s Children Became His Bankers | NYT News

Spread the love
How Fred Trump’s Children Became His Bankers | NYT News
Rate this post

How Fred Trump’s Children Became His Bankers | NYT News
The family mortgage, when you obtain a mortgage from a relative rather than a bank, its known as a family Mortgage in the 1940s Fred Trump Donald Trump’s father, bought the land where he would build Shorehaven. A massive apartment complex in Brooklyn to pay for the construction fraud got traditional mortgages from a bank in the 1980s Fred Trump transfer, these mortgages to Donald Trump and other family, turning them into his Bankers. So now his children, not the bank or receiving the regular interest payments, Fred Trump executed, similar family mortgages, teen other properties he owned, often Fred Trump paid his family members higher interest rate that he would have with a traditional bank loan. These mortgages were extremely lucrative over several decades. The mortgage is paid Donald equivalent today of more than seven point, eight million dollars
In the 1980s, Fred Trump made an important structural change to his empire that produced a large new source of revenue for Donald Trump and his siblings; using family mortgages, Fred Trump made his children his bankers.

Read the story here: https://nyti.ms/2xRO9vK
Subscribe: http://bit.ly/U8Ys7n
More from The New York Times Video: http://nytimes.com/video
———-
Whether it’s reporting on conflicts abroad and political divisions at home, or covering the latest style trends and scientific developments, New York Times video journalists provide a revealing and unforgettable view of the world. It’s all the news that’s fit to watch.

NAN, , , , , , , , , , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *