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 ...
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
Blockbuster ...
Breaking news, ya think?
I’m sure McCain will blame the Republicans.
http://therealbarackobama.wordpress.com/2008/07/01/preliminary-notes-on-the-obama-mortgage/
...have you not yet learned that with the Obamas every question answered just leads to another hall of mirrors?
If this is true, it’s ripe with hypocrisy.
Obama canned Jim Johnson from the VP vetting process for this very reason.
“In sum, the piece notes that Jim Johnson, one of the three people Sen. Obama chose to help him select his vice presidential running mate, received below-market interest-rate mortgages from Countrywide Financial while he was the CEO of Fannie Mae, and did not disclose the sweetheart deals to Fannie’s board. This while he was pulling down $21 million in pay. Obama has called Countrywide’s CEO—who arranged the special loans for Johnson—one of the people responsible for the mortgage crisis.”
Should qualify, Obama is ripe with hypocrisy.
~~~DING, DING!
Nah. No story here. This will be on page D-57 of the NY Times...
He’s a Dem. He’s allowed. Different rules apply vs us little people.
BTTT!!!
Magic Bus.. do do do do...
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
I’m really suprised Hillary didn’t bring this out in the primaries.
I thought everything was already out..
I seem to remember the Clintons even accusing Obama of doing and dealing drugs at one point.
A friend informs me that this amount to a $108,000 discount for Obama, throughout the life of the loan.
Is his math correct?
Abuse of power?
Alan Colmes will defend this as “Don’t all politicians do this?”
He says that every time. Newsflash Alan! That doesn’t make it right!!
There needs to be a windfall lack of profits tax on government teat suckers. Investigate Big Community organization, and big hospital diversity management. Social... nationalize, take them over and run their scams.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.