Posted on 07/01/2008 10:41:27 PM PDT by Kleebo151
Shortly after joining the U.S. Senate and while enjoying a surge in income, Barack Obama bought a $1.65 million restored Georgian mansion in an upscale Chicago neighborhood. To finance the purchase, he secured a $1.32 million loan from Northern Trust in Illinois. This Story
The freshman Democratic senator received a discount. He locked in an interest rate of 5.625 percent on the 30-year fixed-rate mortgage, below the average for such loans at the time in Chicago. The loan was unusually large, known in banker lingo as a "super super jumbo." Obama paid no origination fee or discount points, as some consumers do to reduce their interest rates.
Compared with the average terms offered at the time in Chicago, Obama's rate could have saved him more than $300 per month
(Excerpt) Read more at washingtonpost.com ...
Yes, the President’s home near Crawford is a place of simplicity, desert style - and it is “green” —— while the Algoron’s monstrosity continues to be an environmental humongous disaster.
No doubt if Obamadamadingdong gets anywhere near the White House, it will be ransacked in such a way that the Clinton Crime Gang’s thievery will look like child’s play.
Same to the US Treasury and the wallets/bank accounts of millions of Americans whose accumulated savings/goods/401K accounts will become “fair game” for Obama’s Chicago mafia corruption kingpins.....
The WaPo is bringing this out now.
It would have helped Hillary, so they’ve waited until she is toast. And bringing it out early will provide innoculation against it in the fall.
How suprising.
I got about the same rate, with no discount points, on my home loan 2.5 years ago. Doesn’t seem to be a big deal to me.
“They received an oral commitment on Feb. 4, 2005”
That’s not the only “oral commitment” he got!
I have noticed that obama appears to be getting darker skin lately. Is there no length to which he would not go to appear an ‘authentic’ black.
Dream on. The MSM will gloss over it. They will probably link it to the Keating Five scandal. We will start seeing stories that "everybody lies about mortgages."
I sugggest you read the whole story, including the part about Obama's subsequent relationship with the mortgage company.
Is his math correct?
Yes. The article says he saved about $300 per month, which works out to $3,600/yr. Multiply that by the 30 years of the mortgage and you get $108,000.
1 paper!
where did they live before Feb 2,2005?.....that would really be interesting.
MSM: Nothing to see here. Keep Moving.
In the cesspool called “Chicago politics”, this is insignificant. Obama was raised partially as a Muslim out of the country and partially as a Chicago politician. The biggest threat to this nation comes from the latter.
On a People Search engine , it says that Obama lived in
LOCATIONS FOR BARACK OBAMA:
6 Addresses in CHICAGO, IL
2 Addresses in WASHINGTON, DC
1 Address in SOMERVILLE, MA
https://www.intelius.com/purchase.php
IIRC, A few months ago, either Barack or Michelle gave a speech encouraging young people to forgoe “the money of the corporate world...” and do community service, or some such rot...so why to the Obamas need a $ car garage, and all those bedrooms and baths...?
5.625%
doesn’t sound like a sweetheart deal to me.
Obama could share at least one experience with today’s Winter Hill resident: the plague of parking tickets. When he left town in 1990 he left behind $400 in unpaid fines and late fees because of traffic violations in Cambridge and $72.63 in excise taxes and $45 in late penalties in Somerville. Those fines went unpaid for almost two decades until in 2007, a few months into his campaign, Obama paid the fines and cleared his name as a scofflaw.
Winter Hill is a slightly scary neighborhood. For a long time it was the home of the Irish mafia (not the Kennedys — that branch of the Irish mob lived in Brookline)http://www.concurringopinions.com/archives/2008/02/sharing_an_apar.html
But wait, didn’t Pelosi Galore and Reid the walk dead tell us that only Republicans did horrible things like this.
Besides this is just racial bs from bitter white Americans, who could get a loan like this to buy more guns.
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