It’s become very evident these last couple years that the housing market isn’t what it used to be. People have taken large hits on home purchases that they bought with the simple intention of “flipping” in a few short years. A good portion of people used “creative financing” to purchase a large house for a [...]
In June of 1989, Donald Trump bought an aircraft which became known as the Trump Shuttle. It was a luxury shuttle painted white and sporting maple wood veneer, and gold fixtures. The airline was very advanced for its time, being one of the first to implement the self check-in kiosk system that we are all [...]
Like the Taj Mahal Hotel and Casino, the Trump Plaza Hotel had it’s share of financial problems. Trump was forced to give up 49% of the hotel to Citibank and various lenders that needed to collect something for the millions of dollars The Trump Organization owed in towering debt service payments. Under this plan, Donald [...]
In 1989, during the recession, Donald Trump was finding it harder and harder to pay off business loans. Financing the Taj Mahal, his third Casino mostly on junk bonds, Trump found himself in quite a fix. The Taj Mahal was $1 Billion project. After several attempts to delay loan payments and taking out additional loans, [...]
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