Obama got discount on Home Loan

[nathanhulick]

Wonder if this will play in the media.

http://www.washingtonpost.com/wp-dyn...070103008.html

The Obamas had no prior relationship with Northern Trust when they applied for the loan. They received an oral commitment on Feb. 4, 2005, and locked in the rate of 5.625 percent, the campaign said. On that date, HSH data show, the average rate in Chicago for a 30-year fixed-rate jumbo loan with no points was about 5.94 percent.

[c1ue]

Re: Obama got discount on Home Loan

The loan itself doesn't seem that bad - 0.3% under average:

$1,300,000 @ 5.625% on 2/4/05

Let's compare to Jim Johnson's loans:

$392,950 @ 6.375% on 10/23/98
$1,300,000 @ 5.25% on 11/8/01
$971,650 @ 3.875% on 6/20/03

Plus an assortment of other CFC loans totalling over $7M

But the problem, of course, is that this loan is in conjunction with the big house Obama moved into - where the yard was augmented by a part of a simultaneously purchased lot next door contributed by Tony Rezko's wife.

The whole situation stinks - especially for someone who is supposed to be 'new' and 'different'.

[Jim Nickerson]

Re: Obama got discount on Home Loan

The loan itself doesn't seem that bad - 0.3% under average:

$1,300,000 @ 5.625% on 2/4/05

Let's compare to Jim Johnson's loans:

$392,950 @ 6.375% on 10/23/98
$1,300,000 @ 5.25% on 11/8/01
$971,650 @ 3.875% on 6/20/03

Plus an assortment of other CFC loans totalling over $7M

But the problem, of course, is that this loan is in conjunction with the big house Obama moved into - where the yard was augmented by a part of a simultaneously purchased lot next door contributed by Tony Rezko's wife.

The whole situation stinks - especially for someone who is supposed to be 'new' and 'different'.

Anyone who spends time thinking/wishing/hoping that any long-term politician might be different from any of the worst of those caught in misdeeds may as well spend time blowing smoke up a hogs ass. If the guy seems clean, it is only because he has not been caught and might never be.