Ramsey County property tax records indicate the Colemans have assumed greater and greater debt, increasing from a 30-year $172,900 mortgage in 1994 to a 30-year $775,000 mortgage the couple took out in March 2007.I understand we've all got money issues, but a debt-to-value ratio raises some big questions:
Their house on St. Paul's Osceola Avenue has a 2009 estimated market value of $615,000, according to property tax records, suggesting they may owe substantially more than the property is worth.
- Who was granting these loans to the Colemans?
- Why was a public official/US Senator so cash poor as to need to overmortgage his property?
- How did the Coleman's property value increase by 500k in 15 years - was it due to permanent improvements on the property?
- How did the comparable worth of neighboring properties increase (or not) during the same time period?
- What connection or signal does this send that adds to the legitimacy of the lawsuits filed by an investor against Nasser Kazeminny for allegedly, and inexplicably, diverting $75,000 of his company's cash to Laurie Coleman for dubious "services rendered"?