president Donald Trump paid off the $ 1.2 million mortgage he took out in 1994 for a mansion next to his “Winter White House” Mar-a-Lago, according to a “Satisfaction of Mortgage” instrument that is in the land registers from Palm Beach.
The final payment to lender Merrill Lynch came two years ahead of schedule, which promised luck to the Commander-in-Chief’s real estate empire. The reality, however, is much grimmer than implied.
Trump owes his two largest mortgage creditors, Deutsche Bank and Ladder Capital, $ 350 million and $ 300 million respectively, making his most recent $ 1.2 million payout a drop in the ocean.
Trump’s fortunes are known to have grown and shrunk and – as his many critics like to point out – he has filed for bankruptcy several times.
His secret mansion in Palm Beach, located at 1094 South Ocean Boulevard, is usually empty, with the windows covered and the mailbox sealed. A 5 bedroom, 4 bathroom home that normally houses Trump’s family and Florida guests, if used at all.