Obama refinancing would be bad move, experts say (skirting mention of the Rezko dough)
Chicago Tribune ^ | 4-9-09 | John McCormick
http://www.freerepublic.com/focus/f-news/2226040/post
.......snip
The Obamas, however, do not need to worry about lowering their monthly expenses as much as most Americans, and their Washington housing is free. Back in Chicago, they have a mortgage locked in at 5.625 percent, compared with the current national average of about 4.87 for a standard home loan.
The Obama loan, however, is what bankers call a “super jumbo,” which is larger and often harder to finance in today’s market conditions. At the time they received the loan, the average for similar-size mortgages was estimated in the range of 5.93 percent to 6 percent, according to news reports.
Their rate, an Obama spokesman said in 2008, was because of a competing loan offer and the fact that the couple already had several million dollars deposited at Northern Trust Co. Such loan adjustments are common among lenders competing for banking and investment relationships with wealthy families.
.....snip
Investigators Take Closer Look at Rep. Jackson in Blagojevich Case
NY Times ^ | April 13, 2009 | SUSAN SAULNY and CHRISTOPHER DREW
FROM:
http://www.freerepublic.com/focus/news/2228562/posts?page=1
The Chicago Tribune reported Friday that the United States attorney for the Northern District of Illinois, Patrick J. Fitzgerald, who is known for the energy and sweep of his investigations, had subpoenaed several people who had helped Mr. Nayak set up the fund-raiser to benefit Mr. Blagojevich. The Chicago Sun-Times reported on Monday that Mr. Blagojevich’s people had been told that Mr. Jackson would raise up to $5 million in campaign cash for Mr. Blagojevich.
...snip
Representative Jesse L. Jackson Jr. went to see the Illinois governor in December to press for an appointment to the United States Senate seat being vacated by Barack Obama.