Back to episode — Episode 2985 CWSA 10/11/25
Context —
just change the reality. So the reality was it looked like we were some kind of enemies and he just reframed it to we're friends. Oh, we're friends. You're my buddy. I'd like to come visit my friend. And then suddenly it didn't really make sense to be threatening each other with nuclear annihilation because he just reframed reality to why enemy? Who's your enemy? I'm not your enemy. I'm your frien…
← Previous segment →tance to Trump than there is. They might keep the government closed. Like that would be one of the reasons to keep it closed. Oh my god, our government is terrible. At least half of it is.
Anyway, well, I don't know if that's the real reason, but I saw one of the organizers of that No Kings rally, and he was walking this real fine line because he wanted people to feel outraged about what's happening in the country so that they would be incentivized to go to the protest. So he wants them to feel unhappy to go to the protest, but he wanted to sell the protest as a good time so that more people would go because he's in the business of organizing protests. So he tried to tell you how much fun you would have with meeting new people and having friends and it'd be a nice day out. And he was trying to sell them at the same time that we're suffering this existential threat to our democracy. And by the way, it'll be a good time. Yeah, it's like a party. Oh, did I mention it's an existential threat to the entire country, but you'll meet some nice people. It's more about the nice people you meet along the way. And he totally can't sell it because you just can't do those same things at the same time. And watching how artificial and fake it is and then hearing that they might keep the government closed just to get enough people to go to the fake stupid completely irrational protests. Wow, good work, Democrats.
So one of the questions people had about this Letitia James indictment for bank fraud, they say, is are these claims going to hold up or is it just a bunch of BS and her lawyers will get it wiped away pretty soon? Well, I saw a gentleman on X who goes by the name SMB Attorney and he had an explanation about what probably went on with this bank loan fraud stuff based on his experience as years as a mortgage banker. Right? So he's going to give you inside information about a mortgage banker's knowledge of how this may or may not have happened. Now, what I'm talking about is Letitia James, the AG, who's been indicted for bank fraud, allegedly. Let's see what she claimed that she classified a property intentionally wrong or accidentally wrong. So that's what we're going to determine. But here's SMB Attorney describing what you need to know, some context.
All right. So first of all, he has lots of experience in that business. He was a mortgage lender for years, mortgage banker for years. He goes, "Here's the deal. How you classify a property as a primary, secondary, or investment home changes everything about the loan. The down payment, the interest rate, the underwriting, all of it. Primary or secondary homes can get by with as little as 3 to 10% down. Investme
Context —
nt property usually requires 25% or more. So if you're a brand new real estate investor with limited cash, there's a big incentive to call something a second home instead of an investment property. But that's why lenders make you sign a second home rider, a separate document where you specifically promise you'll use it as a second residence and not rent it out. You also assert like nine times in t…
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