Donald Trump, former president of the United States, is facing scrutiny over a significant finding regarding his financial dealings during the 1990s. Records show, however, that Trump signed mortgage documents asserting that two different properties in Florida were his principal residences. This announcement comes as the Trump administration stakes its legal ground against other controversial and high-profile Democrats. Among them is New York AG Letitia James.
By late 1993 and early ’94, Trump had financed loans for two contiguous parcels on Woodbridge Road. These properties are all located directly adjacent to his Mar-a-Lago estate. Those loans were $525,000 and $1.2 million, respectively. Each one of these mortgages had very strict residency/occupancy requirements. In exchange, Trump needed to set these properties as his primary residence within 60 days and stay there for a minimum of one year.
As for the two Florida residences Trump claims – no he never lived there. Shirley Wyner, who went on to be a rental agent for both buildings, said that he never lived there. Instead, the buildings were promoted for use as temporary housing, with the larger of these seven-bedroom houses listed at $3,000 per day in 1997 dollars.
Historical documents show that during the years in question, Trump was mostly living at his home, the Trump Tower in Manhattan. He did not make the change of permanent residence to Florida official until 2019. This new timeline begs the question as to whether or not Trump’s claims making these properties his principal residences were legitimate.
This is rich coming from a guy who once described the exact same behavior—taking out multiple primary residence mortgages—as “rotten and maybe illegal.” This was a direct result of welcoming the mortgage fraud allegations of Federal Reserve governor Lisa Cook. In a letter to Cook, Trump made her firing official. She highlighted behavior that made actions seem incompetent and shady in money dealings.
Now, legal experts are weighing in on the implications of Trump’s mortgage claims. Kathleen Engel, a former law professor at Suffolk University, didn’t pull punches. She contends that Trump’s loans are well beyond the level for fraudulent behavior established by the Trump administration itself. Bill Pulte, director of the Federal Housing Finance Agency, noted that claiming two primary residences would warrant a referral for criminal investigation.
The timing of these revelations is critical. Trump’s administration is currently pursuing several cases against prominent Democrats such as Letitia James, Senator Adam Schiff, and Congressman Eric Swalwell on similar grounds of alleged misconduct. Trump’s legal team would have you believe that this is politically motivated, and the only goal is to destroy his credibility.
“It is inconceivable that you were unaware of your first commitment when making the second.” – Donald Trump
Even as these investigations continue, the prospects for any legal consequences for Trump remain unclear. Multiple national political factions and legal entities are keeping a watchful eye on the former president’s questionable financial practices. Ultimately, all of these practices will continue to remain at the forefront of public conversation and debate.