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 ...
Maybe Barrack could claim racism if Hillary got an even better deal.
LOL...the media will be sure to cover this tomorrow...especially the hacks over at MSNBC...just like the Dodd story..it will go nowhere.
However, if this were McCain?!? LMAO. Well...you know how that would play out.
“They chose a house with six bedrooms, four fireplaces, a four-car garage and 5 1/2 baths, including a double steam shower and a marble powder room. It had a wine cellar, a music room, a library, a solarium, beveled glass doors and a granite-floored kitchen.”
How’s that carbon footprint?
Methinks so.
Commie bottom feeder PING
"This is not the ba-Rack Hussien Obama I knew before...."
So true...I can hear Colmes right now in my head saying “Hey...so and so..isn’t this really a non-issue and another way for Republicans to toss anything they can at Obama...with a weak opponent like McCain this is the best they got...don’t most politicians have some sort of deal like this in their past?”
I can hear it now.
The Demonrat Party = party of
Lawlessness
Privilege for the few
Corruption and graft
Death
Yet according to the “polls” - it is always 50% of voting Americans who support this TRASH.
Either these polls continue to be MADE UP by the Clintonista pollsters - or America is sicker than I really think she is...
<... a house with six bedrooms, four fireplaces, a four-car garage and 5 1/2 baths, including a double steam shower and a marble powder room. It had a wine cellar, a music room, a library, a solarium, beveled glass doors and a granite-floored kitchen...>
THIS is called “Plantation Envy”. (As per a book written by Collin Powell, describing his wife’s desire for a really big house.)
——Driving the recent debate is concern that public officials, knowingly or unknowingly, may receive special treatment from lenders and that the discounts could constitute gifts that are prohibited by law.——
Here’s the convenient out for Obama...”Hey, I didn’t know I was getting any special kind of deal. They told me this was the standard package.”
It’s hard out there for a pimp.
Jumbo loans are for amounts up to $650,000, but the Obamas' $1.32 million loan was so large that few comparables are available.
***********
Man .. the fix was in all thru ChiTown and IL politics, the Machine's networks and the glitterati ... this deal was set in stone before we ever heard of him. Hand picked chosen one.
I think you're right about. They sure couldn't have him living in a little townhouse, could they?
Who OWNS Borat Obama?...
I saw it on Foxnews today.
It was actually the Clinton’s campaign manager that said something early on in the primary.
I’ll look deeper to see if I can find it.
Especially that last part.
That is his standard answer to defend any political wrongdoings.
He says that EVERY NIGHT
****The Obama campaign called the rate “consistent with Northern Trust policies, and it reflected the base rate set for that period discounted to address the competition for the account and other opportunities, such as personal financial services, that the relationship would bring to Northern Trust.”****
I guess they have a more...shall we say...in your face explanation.
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