"Bloomberg reports that in 2007, Bessent, a gay billionaire, signed mortgages on a Bedford Hills, New York, manor and a Provincetown, Massachusetts, beach house, each of which was designated his "principal residence." Both loans, part of a $21 million financing package, came from Bank of America. The bank later confirmed it understood the homes to be secondary properties. Mortgage experts said such contradictions are common paperwork quirks, not fraud."
"Reuters reports that Ann Arbor officials found "no reason to believe" Cook violated property tax rules on her Michigan home. The city confirmed she was permitted to rent the house short-term without losing her tax exemption. Georgia officials likewise told Reuters that Cook never declared her Atlanta condo as a primary residence for tax purposes. Mortgage rates she received were consistent with prevailing terms."
Scott Bessent signed mortgages in 2007 that listed two separate homes as his principal residence while Bank of America later treated them as secondary properties. Mortgage experts characterize such inconsistencies as common paperwork quirks rather than fraud. Lisa Cook signed mortgages in 2021 listing a Michigan home and a Georgia condo as primary residences, with one lender already categorizing the Atlanta property as a vacation home. Ann Arbor and Georgia officials found no property-tax violations, confirmed permissible short-term renting, and noted mortgage rates aligned with prevailing terms. Despite those findings, President Trump dismissed Cook, citing gross negligence.
Read at Advocate.com
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