Elizabeth Warren Consistently Charged Her Brother Above-Average Interest Rates
Donald Trump accused Massachusetts senator Elizabeth Warren, a crusader against greed and “lousymortgage(s),” of buying foreclosed homes in order to make “a quick killing” Wednesday—an assertion that has revived memories of Warren’s house-flipping hobby.
During Warren’s 2012 run for senator, the Boston Herald reported that Warren had turned a profit from flipping houses, some of which were cheap foreclosed properties. The Massachusetts senator and her husband earned $240,500 or more from remodeling the homes (without deducting the costs of remodel), according to National Review.
In response to the 2012 report, Warren’s campaign issued a statement explaining that the loans and house flipping were altruistic.
“Elizabeth and (her husband) Bruce are fortunate to be in a position where they can help their family. They have been able to help relatives buy their homes and her nephew – a contractor – fix up houses,” the statement said. Warren’s spokeswoman Lacey Rose echoed the declaration Wednesday, and an aide to the Massachusetts Democrat said Warren “didn’t profit from the arrangement with her family members or intend to,” according to the Boston Globe.
However, Warren has charged her family members above average interest rates on mortgage loans, some over short terms, at least eight times since the 1990s, according to Oklahoma county records.