A math-doing FBvian did some scribbling on the back of an envelope and suggests that Miers has lied on her financial disclosure form. She claims her holdings are worth $595,000 on the upper end. But our FBvian figures differently:
The Dallas Appraisal District lists Miers’ house with an appraised value of $687,860. Lending laws generally prohibit banks from making residential loans (including home equity second mortgages) in excess of the appraised value. Therefore, if Miers is taking the position that her house if worth $1,100,000 (the list price), then worst-case scenario she has $412,140 in equity in her house. (If the mortgage is lower than appraised value, which is likely, then she has even more equity in her house).
Add on the $7,500 in value on the vacant lot, and her assets in real estate alone are worth about $420,000. That leaves only $175,000 for her other assets (“small stock holdings, a money market fund, several mutual funds”), which seems unlikely.
I think that it’s a felony to lie on the financial disclosure form.
