Looks like Donald Trump is upside down on just about everything
For as long as NY Attorney General Letitia James has been targeting Donald Trump for his financial fraud, I’ve been saying that any sizable verdict would likely finish him off financially. Why? He appears to be deeply in debt or upside down on most or all of his properties.
If you sell your house, you only make whatever it sells for minus the size of your mortgage. If the mortgage is as big as the sale price, you make nothing. If the mortgage is bigger than the sale price, not only do you get nothing, you’d have to write a check just to complete the sale.
For a long time we’ve been hearing in the media that Trump might have to sell off this or that property in order to satisfy his court verdict. But if Trump is upside down on his major properties, then there’s nothing for him to sell off that could help him with that verdict. When Trump sold his hotel lease in Washington DC awhile back, I pointed out that he was selling off his most profitable property – something that would reduce his income going forward. It suggested that he needed the short term cash, and that it was the only property he could sell off.
Now MSNBC is finally talking about the fact that Trump is indeed deeply in debt on most of his major properties:
It’s good that we’re finally talking about the fact that Trump can’t just sell off a few properties in order to make this court verdict go away. If he can’t pay off the verdict voluntarily, his assets will be seized and sold off. For all the ridiculous hot takes right now about how Trump is going to magically pay off this verdict, the above numbers are a reminder that nothing works that way.
