Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Barack Obama got cheap loan to buy Chicago mansion
The Australian ^ | July 3,2008

Posted on 07/03/2008 7:09:21 AM PDT by AmericanMade1776

WASHINGTON: Democratic presidential nominee Barack Obama received a discounted home loan in 2005, along similar lines to that received by a former adviser to his campaign who was forced to resign after it became public, The Washington Post revealed yesterday.

Former Fannie Mae chief executive James Johnson resigned abruptly as head of Senator Obama's vice-presidential search committee last month after The Wall Street Journal reported he had received favourable terms for a jumbo home loan with help from the CEO of Countrywide Financial - a major actor in the sub-prime mortgage mess.

Senator Obama had previously spoken out against Countrywide's role in the sub-prime calamity, in which home loans were extended to borrowers who were unable to meet the interest payments at market rates triggering a worldwide credit crisis.

But yesterday, The Washington Post revealed that, shortly after joining the US Senate and while enjoying a surge in income, Senator Obama secured a $1.32 million loan from Northern Trust in Illinois at a discounted rate to buy a restored Georgian mansion in an upscale Chicago neighbourhood.

(Excerpt) Read more at theaustralian.news.com.au ...


TOPICS: News/Current Events; Politics/Elections; US: Illinois
KEYWORDS: 110th; chrisdodd; corruptdems; countrywide; mortgage; northerntrust; obama; perks
Obama...Hypocrite!
1 posted on 07/03/2008 7:09:21 AM PDT by AmericanMade1776
[ Post Reply | Private Reply | View Replies]

To: AmericanMade1776

Not only did you buy the house with a loan that gave you special perks, you had your pal Tony Rezko’s(slum lord convicted for corruption) wife buy the lot next to you at full price and then sell you some of that lot to make your lot bigger, to makeyou look bigger and more important....


2 posted on 07/03/2008 7:12:17 AM PDT by AmericanMade1776
[ Post Reply | Private Reply | To 1 | View Replies]

To: AmericanMade1776

while enjoying a surge in income, Senator Obama secured a $1.32 million loan


3 posted on 07/03/2008 7:15:32 AM PDT by BenLurkin
[ Post Reply | Private Reply | To 1 | View Replies]

To: AmericanMade1776

Now you have a house with six bedrooms, 4 fireplaces, a four car garage, and 5 1/2 baths, a double steam shower .marble powder room, a wine cellar, a music room, a library, and a solarium, ..... Wonder what kind of electric bill you pay for that house..bet your house is not energy friendly.... HYPOCRITE! And endorsed by Al Gore too..what hypocrites.


4 posted on 07/03/2008 7:15:48 AM PDT by AmericanMade1776
[ Post Reply | Private Reply | To 2 | View Replies]

To: AmericanMade1776

Bump!


5 posted on 07/03/2008 7:15:51 AM PDT by visualops (artlife.us -nature photography desktop wallpapers)
[ Post Reply | Private Reply | To 1 | View Replies]

To: AmericanMade1776

doesn’t everyone have a friend who will coincidentally buy neighboring property when you coincidentally cannot afford the entire parcel?
And isn’t it the friendly thing to do to sell it at a later date for less than the purchase price?

Don’t we all have friends like this?


6 posted on 07/03/2008 7:18:28 AM PDT by Scotswife
[ Post Reply | Private Reply | To 2 | View Replies]

To: AmericanMade1776

I wonder what the heating source is? Oil?
Imagine the bill.
Imagine the carbon footprint.


7 posted on 07/03/2008 7:19:47 AM PDT by Scotswife
[ Post Reply | Private Reply | To 4 | View Replies]

To: BenLurkin

Since 1990, Northern Trust employees have donated more than $739,000 to federal campaigns, including $71,000 to Obama, according to the Center for Responsive Politics.

http://www.cbsnews.com/stories/2008/07/02/politics/washingtonpost/main4226733.shtml


8 posted on 07/03/2008 7:21:04 AM PDT by AmericanMade1776
[ Post Reply | Private Reply | To 3 | View Replies]

To: AmericanMade1776
He's just sitting on the four-legged stool of liberalism:
1. Thinks he's the smartest person in the room
2. Loves to hear himself talk
3. Sense of entitlement
4. Huge hypocrite
9 posted on 07/03/2008 7:21:18 AM PDT by Edgar3 (My SUV just ate your Pius)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Scotswife
Scotswife wrote: doesn’t everyone have a friend who will coincidentally buy neighboring property when you coincidentally cannot afford the entire parcel? And isn’t it the friendly thing to do to sell it at a later date for less than the purchase price? Don’t we all have friends like this?

but...t...t... Obama didn't really know Rezko! (sarcasm)

10 posted on 07/03/2008 7:22:17 AM PDT by AmericanMade1776
[ Post Reply | Private Reply | To 6 | View Replies]

To: Scotswife

The Carbonfoot print on Obama’s house must be HUGE! HUGE!


11 posted on 07/03/2008 7:23:12 AM PDT by AmericanMade1776
[ Post Reply | Private Reply | To 7 | View Replies]

To: AmericanMade1776

He didn’t know Rezko, AND he made a boneheaded decision, AND Rezko isn’t the man he didn’t know back then.


12 posted on 07/03/2008 7:24:12 AM PDT by Scotswife
[ Post Reply | Private Reply | To 10 | View Replies]

To: AmericanMade1776

I just wondered about Obama’s speech when he secured the nomination.
Didn’t he say that was the moment healing would start? when oceans would quit rising?

How’s he gonna pull all that off living in a mansion like that?


13 posted on 07/03/2008 7:27:49 AM PDT by Scotswife
[ Post Reply | Private Reply | To 11 | View Replies]

To: AmericanMade1776

I see the MSM has been all over this story — NOT!


14 posted on 07/03/2008 7:35:20 AM PDT by Mad_Tom_Rackham ("The land of the Free...Because of the Brave")
[ Post Reply | Private Reply | To 1 | View Replies]

To: AmericanMade1776
Senator Obama secured a $1.32 million loan from Northern Trust in Illinois at a discounted rate...

How discounted was the rate? Several years ago, our family received a discounted home mortgage rate because the seller moved to Rhode Island to work for a bank there. Nowadays only dumb losers pay full price for mortgages and other financial instruments.

Why should low intelligence be required for Democratic candidates when it hasn't affected the Bushbots' blind affection for GWB and for the guy who finished 684th out of 689 in his class at Annapolis?

15 posted on 07/03/2008 7:35:33 AM PDT by MurryMom
[ Post Reply | Private Reply | To 1 | View Replies]

To: Scotswife
Obama on Faith and stewardship of the earth:"One of the things I draw from the Genesis story is the importance of us being good stewards of the land, of this incredible gift. And I think there have been times where we haven't been [good stewards], and this is one of those times where we've got to take the warning seriously [about climate change]. And part of what my religious faith teaches me is to take an intergenerational view, to recognize that we are borrowing thi planet from our children and our grandchildren. And this is where religious faith and the science of global warming converge: We have to find resources in ourselves to make sacrifices so we don't leave it to the next generation. We've got to be less wasteful, both as a society and in our own individual lives. I think religion can actually bolster our desire to make those sacrifices now. As president, I hope to rally the entire world around the importance of us being good stewards of the land. " Source: 2008 Democratic Compassion Forum at Messiah College Apr 13, 2008 Yeah , Obama... like yeah .that is why you need a five car garage and five and half bathrooms... great stewardship.. on your part..way to sacrifice.(please note sarcasm)
16 posted on 07/03/2008 7:37:00 AM PDT by AmericanMade1776
[ Post Reply | Private Reply | To 13 | View Replies]

To: AmericanMade1776

Dodd, Conrad and Obama should be investigated.
And any clowns in the Congress who got deals, Republicans and Dems.


17 posted on 07/03/2008 7:37:09 AM PDT by sweetiepiezer
[ Post Reply | Private Reply | To 1 | View Replies]

To: Edgar3

Obama is all talk, and no action.


18 posted on 07/03/2008 7:37:38 AM PDT by AmericanMade1776
[ Post Reply | Private Reply | To 9 | View Replies]

To: AmericanMade1776

Nothing to see here-move along. The media told us there is nothing here... Sarcasm!


19 posted on 07/03/2008 7:48:27 AM PDT by crazydad
[ Post Reply | Private Reply | To 1 | View Replies]

To: AmericanMade1776
>"Obama...Hypocrite!

No no no... This is just the parable of the banker who gave freely.

Book of O chap1 v1.

Render unto Caeser that which is Caesers, render unto Obombrmessiahs what is Obombrmessiahs (Which is also Caesers)

Ye of little faith!!!!

20 posted on 07/03/2008 8:28:27 AM PDT by rawcatslyentist (I will stand with the Muslims ~B Hussein Obomber Verito Possumus~Verified Sleeper!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: AmericanMade1776

The Australian. I have to go to Australia to read about this.


21 posted on 07/03/2008 8:28:54 AM PDT by popdonnelly (Does Obama know ANYONE who likes America, capitalism, or white people?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Scotswife

Since Obama wants to save the Earth, it’s only fair that he pay more for his oil than the rest of us.


22 posted on 07/03/2008 8:30:22 AM PDT by popdonnelly (Does Obama know ANYONE who likes America, capitalism, or white people?)
[ Post Reply | Private Reply | To 7 | View Replies]

To: AmericanMade1776

You can bet that if McCain got a special deal from anyone, it will be front-page news.


23 posted on 07/03/2008 8:32:10 AM PDT by popdonnelly (Does Obama know ANYONE who likes America, capitalism, or white people?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Scotswife; AmericanMade1776
doesn’t everyone have a friend who will coincidentally buy neighboring property when you coincidentally cannot afford the entire parcel?

From what I have read, the press has missed (or is covering up) part of the story. Before the Obamas bought this place, the adjoining lot and house were a single property. It was divided up at the Obama's request. Michelle sat on some Historic Preservation Board where she got advance notice that the homeowners wanted to sell, she wanted the place, and proceeded to arrange things from there. The homeowners were agreeable to dividing the property but told the Obamas that there was one condition: both house and lot had to settle on the same day. IOW, the Obamas had to come up with a buyer for the lot or no deal.

I posted a blog piece that explained all this maybe six weeks or so ago.

24 posted on 07/03/2008 9:11:12 AM PDT by freespirited (A Democrat is a person who lives in fear that someone, somewhere is proud to be an American.)
[ Post Reply | Private Reply | To 6 | View Replies]

To: popdonnelly
popdonnelly wrote: The Australian. I have to go to Australia to read about this.

nawww.but you would have to read about it at the Washington Post or via AP... Would rather go to Australia to read it.

25 posted on 07/03/2008 9:29:13 AM PDT by AmericanMade1776
[ Post Reply | Private Reply | To 21 | View Replies]

To: MurryMom
MurryMom wrote: How discounted was the rate? Several years ago, our family received a discounted home mortgage rate because the seller moved to Rhode Island to work for a bank there. Nowadays only dumb losers pay full price for mortgages and other financial instruments. Why should low intelligence be required for Democratic candidates when it hasn't affected the Bushbots' blind affection for GWB and for the guy who finished 684th out of 689 in his class at Annapolis?

Murry Mom from Pennsylvania , surprised you have time to come out and defend Obama's partnership with Tony Rezko, and him getting an unfair loan on his house. Obama said you were bitter, clinging to your guns and religion, so it was really nice you could take time out of your bitterness to come forward and defend Obama and bash those of us who Appreciate President George W. Bush, and who will vote for McCain over Obama.

Osama...errrr Obama supports late term abortions , gay unions, tax increases, and Amanutjob from Iran... glad you think he is worthy of defense...

26 posted on 07/03/2008 9:37:54 AM PDT by AmericanMade1776
[ Post Reply | Private Reply | To 15 | View Replies]

To: AmericanMade1776

The obamessiah shall not be questioned!


27 posted on 07/03/2008 2:12:12 PM PDT by vpintheak (Like a muddied spring or a polluted well is a righteous man who gives way to the wicked. Prov. 25:26)
[ Post Reply | Private Reply | To 1 | View Replies]

To: freespirited

“The homeowners were agreeable to dividing the property but told the Obamas that there was one condition: both house and lot had to settle on the same day. IOW, the Obamas had to come up with a buyer for the lot or no deal.”

Wow.
And how crazy is that?
Someone they didn’t know just happened to buy the lot that same day!
The wonders never cease!


28 posted on 07/03/2008 5:08:11 PM PDT by Scotswife
[ Post Reply | Private Reply | To 24 | View Replies]

To: popdonnelly

“Since Obama wants to save the Earth, it’s only fair that he pay more for his oil than the rest of us.”

Sounds very fair!

If he can forever muse about what is “fair” then why can’t we?


29 posted on 07/03/2008 5:10:10 PM PDT by Scotswife
[ Post Reply | Private Reply | To 22 | View Replies]

To: AmericanMade1776

oohh..that’s a gem you got posted there!

I like this part...

“And part of what my religious faith teaches me is to take an intergenerational view, to recognize that we are borrowing thi planet from our children and our grandchildren.”

What does your religious faith teach you about murdering babies Barak? the born and the unborn, as you have publicly supported the killing of both?

How does your “intergenerational view” get along with the notion that one generation is given the “right” to wipe out another generation?

How are we going to turn the planet over to children, when people like you think killing children is a “right”?


30 posted on 07/03/2008 5:26:26 PM PDT by Scotswife
[ Post Reply | Private Reply | To 16 | View Replies]

To: vpintheak
vpintheak wrote: The obamessiah shall not be questioned!

Obamessiah... will be questioned ... he better get use to it, he did a terrible job of being questioned by the press today... I think even the Press realized Obama is kind of a dud.

31 posted on 07/03/2008 10:27:49 PM PDT by AmericanMade1776
[ Post Reply | Private Reply | To 27 | View Replies]

To: Scotswife
Scotswife wrote: What does your religious faith teach you about murdering babies Barak? the born and the unborn, as you have publicly supported the killing of both?

How does your “intergenerational view” get along with the notion that one generation is given the “right” to wipe out another generation?

How are we going to turn the planet over to children, when people like you think killing children is a “right”?


32 posted on 07/05/2008 4:30:45 AM PDT by AmericanMade1776
[ Post Reply | Private Reply | To 30 | View Replies]

To: AmericanMade1776
Interesting I went over to DU and they had an article up regarding Obama and the life issue.

Seems he is beginning to change his stance on the life issue.

It was an AP article so I could not bring it over.

I'll see if I can find another source for the article.

33 posted on 07/05/2008 4:32:43 AM PDT by mware (F-R-E-E, that spells free. Freerepublic.com baby)
[ Post Reply | Private Reply | To 32 | View Replies]

To: MurryMom
"Why should low intelligence be required for Democratic candidates"

Good question - for the answer you will need to ask all the Demagogue morons who vote for dim bulbs like Jon Carry, Albore, Barack Obambi, Chris Dodd, Joe Biden, Nancy Pelosi, Harry Reid, et al. There are so many dimwits among the Demagogue candidates.... has to do with the low character and intelligence that allows someone to be a shameless Demagogue.
34 posted on 07/08/2008 4:26:05 PM PDT by Enchante (OBAMA: "That's not the Wesley Clark I knew!")
[ Post Reply | Private Reply | To 15 | View Replies]

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.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson