When I get information best used as a blind item, I consider many things including whether or not I want to put negative information out about the person or persons involved. I originally passed on this blind item mostly because it didn’t make that much sense. But nothing is making sense on this franchise lately so here we go.
This couple with multiple steady income streams purchased a new home a while back and took out a traditional mortgage for about 70% of the purchase price. That seemed excessive to me at the time. But the weird part is that they recently took out a second mortgage with a private lender at a high interest rate to up their debt on the house up to close to 100%. This makes no sense. Again, the couple doesn’t have a cash flow problem.
My source for this blind ftem suspects that the couple is making sure that there is no real financial asset to the house. Why would they do this? There have been numerous lawsuits related to some business dealings recently. Should they lose a major lawsuit, there would be no way to force the sale of the house because there is no equity there and that would just result in the bankruptcy liquidation essentially just paying off their mortgages. This is similar to the way the Teresa Giudice was able to keep her house. Also, Gretchen Rossi did something similar when she was entangled some photographer in a lawsuit.
There are also rumblings that their offshore businesses will allow for assets to be moved out of the courts jurisdiction. Why can’t these rich folks just live within the rules of the law?