Question For DU Attorneys

[DemocratSinceBirth]

Is this correct:

"detrimental reliance is a necessary element in the filed civil claim against Trump."

Can you lie to secure a loan even if you can pay it back?

Thank you in advance.

[underpants]

1. 👀

Just here for the info.

[KPN]

2. Not an attorney, but isn't the fact that TFG and his kids have

filed bankruptcies proof of detrimental reliance — at least in those instances?

[missingthebigdog]

3. Probably not.

I haven’t had time to read any of the NY pleadings;I was savoring the 11th Circuit’s Opinion, but if Trump lied on paper, he is probably going to lose.

I am not sure where you are getting the information that detrimental reliance is a necessary element. Typically, detrimental reliance only comes into play when there are questions about whether a contract exists.

Lenders base their decisions about whether to lend money on numerous factors- it isn’t just whether you can pay it back. And, except for criteria that would be considered discrimination, those factors can be just about anything. Generally, any misrepresentation of a material fact is going to be considered fraud.

[Tomconroy]

4. It could be that you get better loan terms if you lie

about your assets.

[moonshinegnomie]

5. not an attorney but you cant lie

the issue is if you lie (for example inflating the value of a property) you can secure better terms for the loan

for example if you get a mortgage of a 300k house and make a 15k (5%) down payment you will be charged a certain interest rate

if instead you put down 60K (20%) your rate will be in all likely hood lower since you are perceived as less of a credit risk.

same idea with a building loan like TFG did.
its one thing to borrow 50m against a 100m building and quite another to borrow that 50m against a 500m building as an example.

thats fraud