Another Corrupt Senator - O'Bama Receives Bribed discounts of Mortgage Mansion Loans

[HOLLYWOOD]

Along with U.S. Senators Christopher Dodd (D-CT) & Kent Conrad (D-SD) Senator Barak O'bama received bribes in perks on discounts of Mortgages/Loans/Points/Fees... This time, O'Bama's super Jumbo Mortgage, not only with a lower Interest Rate, but NO charge for Processing Fees, Closing costs or Points. Wow wouldn't we all enjoy all that money back in OUR pockets on saving on these loans?

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.

"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 plus fees and points.

Obama spokesman Ben LaBolt said the rate was adjusted to account for a competing offer from another lender and other factors. "The Obamas have since had as much as $3 million invested through Northern Trust," he said in a statement." LIKE THESE MULTIMILLIONAIRE NEED THE MONEY AND THESE DISCOUNTS.

These politicians need to ALL GO TO PRISON, NOW! Take your pick on the links


http://www.washingtonpost.com/wp-dyn/content/article/2008/07/01/AR2008070103008_pf.html (http://www.washingtonpost.com/wp-dyn/content/article/2008/07/01/AR2008070103008_pf.html)

http://www.thecarpetbaggerreport.com/archives/16067.html (http://www.thecarpetbaggerreport.com/archives/16067.html)

http://www.theaustralian.news.com.au/story/0,25197,23958932-2703,00.html (http://www.theaustralian.news.com.au/story/0,25197,23958932-2703,00.html)

[freelance]

I don't mean to be a spoil sport, but don't people ROUTINELY negotiate favorable concessions from lenders? I'm just asking, because we don't have all of the information. You may be right, but normal people negotiate favorable terms every day.

Just call your credit card company. When you get finished there, call your cable company and threaten to cancel. Then move on to your phone company.

NO ONE needs to pay full retail for anything. So forgive me if I haven't gotten worked up about any of them getting minor breaks on their mortgages. There are MUCH bigger skeletons lurking--EVERYWHERE, on both sides of the aisle.

[IPSecure]

Wonder what kind of collateral (http://en.wikipedia.org/wiki/Collateral_(finance)) he had to put up...

[angelatc]

I don't mean to be a spoil sport, but don't people ROUTINELY negotiate favorable concessions from lenders?

Not when they want to avoid allegations of ethical violations.


According to the couple’s 2006 income tax return, Michelle's salary was $273,618 from the University of Chicago Hospitals, while he had a salary of $157,082 from the United States Senate. The total Obama income, however, was $991,296 including $51,200 she earned as a member of the board of directors of TreeHouse Foods, plus investments and royalties from his books.

That mortgage is big, but making that much money means they qualified.

I just think it's insane to think that so many people think this couple are "common folk."

[IPSecure]

Is Michelle on the note? Did she co-sign? Was her income considered in this deal?

[HOLLYWOOD]

I don't mean to be a spoil sport, but don't people ROUTINELY negotiate favorable concessions from lenders? I'm just asking, because we don't have all of the information. You may be right, but normal people negotiate favorable terms every day.

Just call your credit card company. When you get finished there, call your cable company and threaten to cancel. Then move on to your phone company.

NO ONE needs to pay full retail for anything. So forgive me if I haven't gotten worked up about any of them getting minor breaks on their mortgages. There are MUCH bigger skeletons lurking--EVERYWHERE, on both sides of the aisle.

Been watching too many DITECH commercials?

This is exactly the justification, (Oh, We Negotiated our Mortgage Rate) Our government officials will use to cover their tracks.

I don't no anyone(even with EXCELLENT credit ratings and assets, that had a SUPER SUPER JUMBO size mortgage that received such a steep discount of this level. Beside the desperate people that purchase a mortgage on an over-inflated priced home... who here, DIDN'T have to PAY; Processing fees, Points, closing costs on a Super Super Jumbo Rated Mortgage?

With so many I know and work with in this industry... we know a KICKBACK when we see one.

Time will tell, but following the path on money will lead to the true motives and results. If you buy O'bama's campaign BS response to this, then I have a tower to sell yah in Paris.

[nate895]

I am insulted by your association of Obama with the Irish people.