Property values are all time and place based estimates and still as arbitrary as a Roulette Wheel in the Vatican. So are interest rates and pay back strategies. You have absolutely no idea how or why the Bank picked the interest rates they did. For all you know, a Bank across the street offered Trump a lower rate, and they matched oe under bid their competitor, to secure the business.
Free Enterprise is just that……… free to negotiate an acceptable deal between two willing parties and go forward, or walk away. This ain’t communism yet, where some Bureaucracy decides values and interest rates and dictates what one individual is required to pay or charge for a service. Companies including Banks hire the people they want to make decisions for the stock holders. If you have enough stock you can fire them for incompetence or you can sell your shares and buy into the Bank across the street. Apparently the stock holders liked how their employees managed their business.
If this charge holds through the Supreme Count, your as screwed as Trump will be.
If you bought a house in Boise last spring, you lost 20% of your investment in the last 12 months. The house you bought in Boise was estimated at $500,000.00, you could have negotiated for a cheaper price, maybe you did, regardless you bought it, now it’s worth $400,000.00 and interest rates are twice what they were a year ago. You won on the interest rates, lost your ass on the price.
Absolutely no dishonesty or falsified values placed at that time and that place, but it all charged in 6 month……… because real property estimates and interest rates are time and place arbitrary.