Donald Trump Pays Off Mortgage On Secret Palm Beach Mansion!

mortgage
Donald Trump just paid off that little house right next to the behemoth Mar-a-Lago property! (Palm Beach Property Appraisers Office photo)

President Donald Trump has paid off the $1.2 million mortgage he took out in 1994 for a mansion adjacent to his “Winter White House” Mar-a-Lago, according to a “Satisfaction of Mortgage” instrument recorded in the Palm Beach land records.

The final payment to lender Merrill Lynch came two years ahead of schedule, suggesting good fortunes for the commander-in-chief’s real estate empire. The reality, however, is a good deal bleaker than implied.

Trump owes his two largest mortgage creditors, Deutsche Bank and Ladder Capital, $350 million and $300 million respectively, making his recent $1.2 million payoff a drop in the bucket.

Trump’s fortunes have famously waxed and waned and—as his many critics are fond of noting—he has filed for bankruptcy a number of times.

Faith Based Events

His secret Palm Beach manor, located at 1094 South Ocean Boulevard, is commonly vacant, with the windows covered and the mailbox sealed. A 5-bedroom, 4-bathroom house, it typically plays host to family and Florida guests of Trump when it’s used at all.

[vc_btn title=”Continue reading” style=”outline” color=”primary” link=”url:http%3A%2F%2Fwww.gossipextra.com%2F2017%2F08%2F16%2Fdonald-trump-pays-off-mortgage-on-secret-palm-beach-mansion-78695|title:Continue%20reading|target:%20_blank|”][vc_message message_box_style=”outline” message_box_color=”blue”]Jose Lambiet, GossipExtra.com, excerpt posted on SouthFloridaReporter.com, Aug. 18, 2017[/vc_message]