Elizabeth Warren seems to have decided to focus her daily outrage on Treasury nominee Steve Mnuchin today, due to his former company’s record on mortgage foreclosures. But on this issue, like so many others, it is clear that Warren is a hypocrite.
Elizabeth Warren has made a lot of money off of flipping houses. And among the dozens of properties she has either bought and sold herself, or financed for family members, are multiple homes obtained at bargain basement prices in foreclosure sales and then sold a short time later for big profits. That’s right, Elizabeth Warren, self-styled warrior for the little guy, got rich off of families being kicked out of their homes.
“Elizabeth Warren is a hypocrite,” said NRSC Spokesman Bob Salera. “Instead of grandstanding about home foreclosures, fake populist Elizabeth Warren should explain why she has made a fortune off of families losing their homes.”
Background:
2123 NW 14th Street, Oklahoma City (Youngs Englewood, Lots 40+41, Block 29)
Warren Bought 2123 NW 14th Street For $4,000 From American General Finance Inc. On March 8, 1993. (Oklahoma County Property Assessor Website, www.oklahomacounty.org, Accessed 12/14/11)
Warren Bought The Property From A Bank That Foreclosed On The Previous Owner
Final Judgment Was Made In The Case On September 22, 1992. (Oklahoma Courts Website, CJ-1992-4634, www.oscn.net, Accessed 12/5/11)
The Property Was Sold At Auction In November 1992. (Oklahoma County Clerk, Book 6366, Page 1549, Accessed 12/8/11)
In 1984, The Former Owners, Richard And Shelley Walter, Took Out A $13,350 Mortgage, With A 17% Annual Interest Rate. (Oklahoma County Clerk, Book 6171, Page 314, Accessed 12/8/11)
The Walters Owed $7,778.08 On The Home When The Foreclosure Notice Was Filed. (Oklahoma County Clerk, Book 6366, Page 1549, Accessed 12/8/11)
Warren Transferred The Property To Her Brother And His Wife On March 8, 2004. (Oklahoma County Clerk, Book 9231, Page 1189, Accessed 12/8/11; Oklahoma County Property Assessor Website, www.oklahomacounty.org, Accessed 12/8/11)
Warren’s Brother Sold The House For $30,000 In February 2006. (Oklahoma County Property Assessor Website, www.oklahomacounty.org, Accessed 12/14/11)
500 NW 18th Street, Oklahoma City (University Add, Lots 15+16, Block 68)
Warren Was Listed As The Mortgagee On A $55,000 Mortgage Taken Out August 19, 1992 By Her Brother John On 500 NW 18th Street, Oklahoma City. (Oklahoma County Clerk, Book 6326, Page 21, Accessed 12/12/11)
The Mortgage Had A 10% Annual Interest Rate, And Was “Payable In One Lump Sum All Principal Together With Interest On Or Before The 13th Day Of August, 1993.” (Oklahoma County Clerk, Book 6326, Page 21, Accessed 12/12/11)
According To The Oklahoma County Property Appraiser, Warren’s Brother Bought 500 NW 18th Street August 18, 1992 For $51,500, And Sold It For $140,000 March 29, 1998. (County Property Assessor Website, www.oklahomacounty.org, Accessed 10/9/11)
Warren Was Listed On A Release Of Mortgage For This Property Dated May 29, 1998. (Oklahoma County Clerk, Book 7322, Page 1868, Accessed 12/12/11)
The Previous Owners Of The Property Were Foreclosed On
The Previous Owners Of This Property Were Foreclosed On In A Notice Filed October 24, 1990. (Oklahoma County Clerk, Book 6104, Page 740, Accessed 12/12/11)
- Sue Trent Owed $111,369.51 To Continental Federal Savings And Loan. (Oklahoma County Clerk, Book 6104, Page 740, Accessed 12/12/11)
The Sherriff’s Office Transferred The Deed For The Property To Continental Federal Savings And Loan On December 31, 1990. (Oklahoma County Clerk, Book 6127, Page 993, Accessed 12/12/11)
D.L. And Sue Trent Took Out A $114,400 Mortgage In 1981 On The Home, With An Adjustable Rate Mortgage Starting At 13.875%. (Oklahoma County Clerk, Book 4741, Page 316, Accessed 12/12/11)
The Trents Took Out A Second Mortgage On The House In 1985 With Transamerica Financial Service Inc. Worth $51,320.36. (Oklahoma County Clerk, Book 5313, Page 1599, Accessed 12/12/11)