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 ...
And to think she wasn’t even quite yet proud
of her country for the first time when she
moved into that palace.
The other shoe drops.
How many POS Congress Critters did not get preferential mortgage loans? Below market mortgages is what our Senators talk about in the Senate cafeteria
rife
OH good grief....and I thought the Clintonista mafia stretched over and under and around and into more corrupt connection sthan anything ever in American politics...
By the way - great investigative post as always....but can you put down a “digest” version of this info? for those of us with short reading attention spans???
thanks
She had cronies running her campaign. Trusted stooges who turned out to be incompetent.
Better yet - how about Gallup running with this poll?
Or even better - how about Zogby?
Where are conservative owned/run polling organizations???
Looks like a good opportunity here.....for an entrepreneur who understands statistics...
Yowsa! And and the beat goes on!
I can just see Michelle threatening to beat the crap out of Obama if he didn’t grab this sweetheart mortgage
Oh I’m so sure ... ;) Ya mean like those typical white persons?
Probably.
EEEEEEEEEEEEK!!!!!!! Whiteys with GUNS! Oh NO!
“That is not the mortgage broker I knew...”
Exactly....
By the way - we need a thread comparing the homes of Dem and Repub Senators (past and present) ..for starters
We have Owlgore’s super duper non-green mansion
We have Johnboy Edwards’ outlandish mansion/estate
We have the Clintons’ two mansions....
I haven’t seen pictures of the Kerry’s abode...
Or that of Diane Feinstein
or how about Pelosi’s?
Just for starters....
President Bush’s ranch in Crawford Texas is beautiful in its understated simplicity in comparison...
And I’d like to see the homes of other Republican leaders - Senators especially....
We need a HOME COMPARISON thread...especially in these times when many “average” Americans are losing their homes....
all the whlie being unqualified for sweetheart deals like the “humble” Obama’s received....
I sit here waiting and waiting for my 30 year fixed FHA to clear underwriting...I bet obama was just waived right through.
****He got a 5% discount in the rate (from 5.94 to 5.625%)****
Yea, on a $1.36 Million Dollar loan.
****He got a 5% discount in the rate (from 5.94 to 5.625%)****
OOPS> Make that...Yea, on a $1.32 Million Dollar loan.
****Better yet - how about Gallup running with this poll?
Or even better - how about Zogby?
Where are conservative owned/run polling organizations???
Looks like a good opportunity here.....for an entrepreneur who understands statistics..****
If you can market conservative polling that is.
At least he has good taste in houses.
IIRC he and his wife had five of them as of 2004.
This article is nothing more than a racist attack on Obama. A candidates loans should be off-limit to criticism just like his wife, his children, his pastor, his dogs, past voting record, drug use, any sexual encounters, etc, etc...
Not really needed but I’ll add it anyway - [/sarc]
The Obamas bought the house for $300,000 less than the asking price of $1.95 million, while Rezko's wife, Rita, bought the neighboring lot for the full asking price of $625,000. Rita Rezko later sold a portion of the undeveloped lot to the Obamas, enlarging the senator's yard.Tony Rezko already had been linked to a grand jury investigation involving public corruption. Last month, he was convicted of 16 counts in an influence-peddling scheme that reached the highest levels of Illinois state government.
I wonder what Tony Rezko had to do with the Obama transaction. Or, as they say in the hood: 'Ca ching, Ca ching'
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.