Quantcast
Connect with us

Kushner family’s real estate company may get mortgage help even if it can make payments: report

Published

on

Jared Kushner’s family business stands to benefit from a provision in the the coronavirus relief package that allows apartment building owners to halt federal mortgage payments on some properties.

Kushner Companies controls thousands of low- and moderate-income housing units across the country, and some of them are funded through an $800 million federally backed loan they obtained last year, reported Politico.

ADVERTISEMENT

The COVID-19 relief package allows building owners to temporarily freeze mortgage payments on those types of properties if they promise not to evict tenants who cannot pay their rent, which essentially shifts the burden of housing low-income renters from landlords to taxpayers.

Kushner Companies establishes buildings as a network of individual LLCs, a common practice in real estate, so they could potentially obtain federal aid for some buildings even if they have enough money to pay their mortgage, according to real estate experts.

“Could he take advantage of it? Yes, his company could,” said Shekar Narasimhan, managing partner for the firm Beekman Advisors. “They’re supposed to have deep pockets, but most owners set each building up to an LLC. So in theory, he doesn’t have an obligation to write a check.”

The 39-year-old Kushner — who is both President Donald Trump’s senior White House adviser and son-in-law — does not play a role in managing the company founded in 1985 by his father, but he still holds a stake in the company.


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

DC mayor trolls Trump by lighting ‘Black Lives Matter Plaza: ‘We turned on the night light for him’

Published

on

Continue Reading

2020 Election

It’s Donald Trump vs Joe Biden: Associate Press reports former VP has clinched the DNC nomination

Published

on

The 2020 general election campaign between two top parties has unofficially been set.

"Joe Biden formally clinched the Democratic presidential nomination Friday, setting him up for a bruising challenge to President Donald Trump that will play out against the unprecedented backdrop of a pandemic, economic collapse and civil unrest," the AP reported Friday. "The former vice president has effectively been his party’s leader since his last challenger in the Democratic primary, Bernie Sanders, ended his campaign in April. But Biden pulled together the 1,991 delegates needed to become the nominee after seven states and the District of Columbia held presidential primaries Tuesday."

Continue Reading
 

Breaking Banner

Trump retweets right-wing video attacking George Floyd’s character — hours after calling it a ‘great day’ for Floyd

Published

on

On Friday, President Donald Trump retweeted a video from right-wing commentator Glenn Beck, which appeared to question the wisdom of calling George Floyd a "hero" — and concurring with Black GOP commentator Candace Owens, who said it "sickens me" he is being "held up as a martyr."

Disgusting. pic.twitter.com/JCJWEFYZww

— David Gura (@davidgura) June 6, 2020

Continue Reading
 
 
You need honest news coverage. Help us deliver it. Join Raw Story Investigates for $1. Go ad-free.
close-image