Posted on 08/16/2025 10:32:05 AM PDT by DFG
Sen. Adam Schiff (D-CA) is paying just 3% on both his Maryland and California homes since refinancing his mortgages in 2020, even lower than the 5.625% rate at the center of a federal mortgage-fraud investigation against him, newly released documents reveal.
The Department of Justice is accusing the junior senator from California of claiming two homes as primary residences for more than a decade – to score lower mortgage rates and property taxes. A grand jury in Maryland is currently weighing a criminal indictment against the former 12-term congressman.
The newly released annual financial documents show that even after Schiff finally designated his Potomac, Maryland property as a second home in 2020 – after 16 years – he got the exact rock-bottom mortgage rate as his California residence when he refinanced both that year.
The average 30-year mortgage interest rate in 2020 was 3.10% for primary residences in the US, with secondary residences usually subject to rates up to 0.5% higher.
Those terms padded his wealth, since the California Democrat would have saved somewhere between $30,000 to $50,000 over 16 years, an analysis by The Post found.
That spacious 3,420-square-foot home, in one of DC’s most affluent suburbs, where neighbors say Schiff actually spends most of his time, is now worth $1.4 million – almost double what he paid for it in 2003.
Schiff also benefited from a homeowner’s tax exemption by declaring his much smaller 650-square-foot one-bedroom, one-bathroom condo in Burbank, California a primary home, resulting in a $7,000 reduction in property taxes.
(Excerpt) Read more at nypost.com ...
How much is he evading in taxes?
Disregard post #2. If I would’ve just read the article.
Why is he not being charged with tax evasion? His fellow Marylander, Spiro Agnew, was driven from office for tax evasion.
In November of 2020, we took a mortgage out and our interest rate is 2.875. we have excellent credit.
It's not A primary home, it's HIS primary home. Unless the word "primary" no longer means what it used to mean.
He's above the law because he's a Democrat.
I refinanced in 2020 as well. Trump’s wholesale destruction of the US economy resulted in some very low interest rates.
Babble-on, you obviously haven't taken responsibility for the whole Ukraine war mess, which you were fully responsible for causing, either.
Short drop, sudden stop.
It’ll make his eyes bug out even more than when his pal Ed Buck schtupped him.
We’re a 2.75%. And, no fraud involved. 😂👍
On your 2nd primary residence?
How long before Schiff cries, “ antisemitism”?
The issue might not just be the rate but WHO is paying the mortgage, a well known way to hide money.
I am paying 2.25% on my CA home.
> If I would’ve just read the article. <
Permit me jump in here. Anyone who’s been on Free Republic for more than five years doesn’t have to read the article. Just read the excerpt.
And I’ve got even better news for you. Anyone who’s been on Free Republic for more than ten years doesn’t even have to read the excerpt. It’s enough to just glance at the headline.
It’s tradition. And we must all respect tradition.
🙂
He listed both his California home and his Maryland home as his “primary residence.”
A Democrat federal judge will order full restitution and deliver a serious lecture to the now humbled Schiff.
If Schiff was a Republican, he would be doing a public perp walk, and at least five RINO Senators would be demanding his immediate resignation.
Was it tax evasion too? I thought I recalled him being handed envelopes of cash bribes accusations?
All I can say is I hope it goes beyond these investigations and leads to indictments and prison time for these domestic enemies because if it doesn’t these domestic enemies are going to go gangbusters on Trump once he leaves office. He’s got 3.5 years left - 1.5 if the domestic enemies take the house
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