Trump U. Explicitly Taught Students To Exploit Our Most Vulnerable People In Worst Way Imaginable
by Rika Christensen –
How do you make a fortune in real-estate, like Donald Trump? Why, be as cold and heartless as possible. Just when we all thought the brouhaha over Trump University was dying down, along come Patrick Caldwell and Mother Jones to throw a stinging dose of reality onto the whole sordid situation. It seems that one of the major things that Trump U. tried to teach was how to exploit poor, disabled people facing foreclosure.
Gary Eldred, a real-estate investment advisor, explained in this particular course that seeking out short sales (situations in which the homeowner can’t pay their mortgage back as it stands, and so a buyer convinces both them and their bank to settle for a lower price) that will be profitable requires looking for people who are “certified destitute.” That means people who are out of work and not likely to be working again anytime soon.
Then Eldred goes on to identify ideal homeowner of whom to take advantage:
“The borrower is out of work, the borrower has $50,000 in unpaid medical claims, the borrower is completely disabled, the borrower has an extraordinarily messy divorce where everything has been squandered.” [emphasis mine]
This could sound good at first – the investor is supposedly helping out someone who’s otherwise stuck and facing financial ruin. However, short sales can result in thousands more in debt for the seller, depending the laws in their state. They can’t sell their house for the balance of their mortgage, so everything they do get goes to the bank.
- It doesn’t go to help pay those medical bills.
- It doesn’t help them reduce other debt.
- It doesn’t help them find a new place to live.
It all goes to the bank. So there’s the potential for a lot of profit for the investor at the expense of the homeowner because they may still owe their bank what’s left on their mortgage, in addition to the thousands they owe elsewhere.
Anybody who would take advantage of the disabled this way is a gold-digger engaged in cold-blooded fuckery. Nothing more.
We shouldn’t be surprised about this, though. The name of the course says it all: “Real Estate Goldmine: How To Get Rich Investing In Pre-Foreclosure Properties.” King Profiteer even started the “class” off with:
“We’re not peddling get-rich-quick schemes, no blue-sky promises or an easy road to riches…
… The sad fact is, more and more property owners are getting themselves in trouble! Defaulting on mortgages and losing their homes or commercial properties. I’m sorry for them, but life goes on, and the fact is, one person’s misfortune is someone else’s opportunity. That’s just the way the world works. This program shows you how to make a lot of money from investing in pre-foreclosures.”
The Profit-Monger-in-Chief, however, has a long history of disregarding disabled people along with denying that he does so. However, like the fraud cases, he’d likely say that he certainly didn’t intend for this course to teach people how to exploit the disabled this way (he loves the disabled, nobody will be better for them than him), or he’d deny that he even knew what was in this course.
Considering that our wannabe President Dunce wants to reopen and oversee Trump U. after the suits are over (which he’s sure will be dismissed, or that he’ll win), this is actually a major bit of news, because he’ll probably once again tell students to use the most vulnerable among us. After all, riches are more important than anything.
Reprinted with permission from Addicting Info