Comments on: Obama got sweetheart deal on home loan Update: Obama says it was competition

By: Even More Obama Humor at Texas League of the South

Even More Obama Humor at Texas League of the South — Thu, 31 Jul 2008 15:57:57 +0000

[...] driven by passion rather than self-control? Drug abusers often have trouble with their finances. The Obama’s went from a $415,000 up to the home they are in now. They obtained fianancing from…. Is it surprising that a former drug user sees nothing wrong with associating with shady [...]

By: Brian Mallard

Brian Mallard — Fri, 04 Jul 2008 01:59:33 +0000

In addition to there being no fee to lock in the rate, there were also no origination fees or points on closing. To lock in the rate for this long would have required a fee of at least 2%. Origination fees would be 1.5%, at a minumum and points on closing for a loan of this size would have most likely been 30. All of this adds up to more than $50,000 up front off the cost of securing this mortgage. The $1,000 (not $300)per month payment differential is worth an additional $161,000 when present valued at the mortgage rate secured. That means Obama received consideration of more than $200,000 on this transaction. Makes me wonder what the lender received as a quid pro quo.

Some have asserted that this is a business strategy to secure rich people’s business. Maybe, but in my world I have yet to find any bank that would offer this deal to just any rich prospect, especially one that had no dealings or prior relationship with the lender. These deals are assessed on their merits. This was and is a high ratio, below cost, and highly subsidized loan that would not have been available to anybody other than someone of influence. If anybody other than Obama received this type of preferential treatment they would have been piloried in the press.

By: Christine

Christine — Thu, 03 Jul 2008 20:01:47 +0000

“The couple wanted to step up from their $415,000 condo. They chose a house with six bedrooms, four fireplaces, a four-car garage and 5 1/2 baths, including a double steam shower and a marble powder room. It had a wine cellar, a music room, a library, a solarium, beveled glass doors and a granite-floored kitchen.” No wonder Michelle looks so angry all the time, she can’t hire illegal immigrants to help her clean the mansion! And, no wonder she said that Barack risks his life pumping gas…their friends who didn’t get such a sweet deal are gunning for him! Wow, if you look and listen between the lines, you can understand anything.
Funny how none of BO’s dirt was discussed when i was visiting my liberal family in Ohio and I was surprised that there were no Obama ‘08 signs in their yards, but it was only June.

By: Dersu

Dersu — Thu, 03 Jul 2008 02:36:56 +0000

This is going to be fun and easy. The demon_crats make it so easy.

Let’s roll.

I hate McAmesty!!

By: Bill_M

Bill_M — Thu, 03 Jul 2008 00:43:20 +0000

Obama and the Dimocrat Party say:

“It’s corruption when it’s for thee, but not when it’s for me!

By: exuggs.com

exuggs.com — Wed, 02 Jul 2008 23:34:57 +0000

Obama got sweetheart deal on home loan…

Barack Obama’s home loan has more questionable aspects than just the Tony Rezko connections, according to the Washington Post. After ten years as a prominent Chicago politician and in his first year in the Senate, Obama got a $1.32 million loan belo…

By: Dan Collins

Dan Collins — Wed, 02 Jul 2008 23:28:59 +0000

Competition, huh?

On the other hand, nationalized health would be super.

By: rplat

rplat — Wed, 02 Jul 2008 23:10:36 +0000

Anybody that believes this jerk please see me . . . I have several large bridges I’d like you to buy.

By: Steve Z

Steve Z — Wed, 02 Jul 2008 21:15:52 +0000

Obama to Wesleyan graduates: Don’t pursue the money culture and the big house, because collective salvation is in service. (subtext: so I can get MY big house and you can serve ME).

If Northern Trust Company missed out on $300 per month for 30 years, or a total of $108,000, what did they get for their “sacrifice”? Maybe the Washington Post (or a Chicago paper) might want to look into THAT!

By: yo

yo — Wed, 02 Jul 2008 20:48:22 +0000

Obama must think we're all stupid. I'm not saying, I'm just sayin':

Kelly King Dibble was the vice president for business development at Rezmar [Rezko's company -yo] and she became the executive director of the Illinois Housing Development Authority once Blagojevich became Governor. She is now an attorney with, The Northern Trust Company, the same company that financed Obama's mansion.

By: NoDonkey

NoDonkey — Wed, 02 Jul 2008 19:59:38 +0000

Anyone who actually works in government (I know, Obama has never actually “worked” at all) knows that we can’t take any benefits from private companies on the basis of our position.

Normal people (not the messiah) and Republicans can go to jail for this stuff.

Once again, we’re all equal, it’s just that Democrat politicians are more equal than us little people.

By: Chakra Hammer

Chakra Hammer — Wed, 02 Jul 2008 19:27:37 +0000

I have noticed that all the MSM have coverd this with weak headlines..
avoiding the use of the word “sweetheart deal”

If Obama would have been a Republican we would be hearing “Sweetheart” all day long..

By: misterpeasea

misterpeasea — Wed, 02 Jul 2008 19:23:15 +0000

Lay off! This really helped Michelle’s kids!

TheBigOldDog on July 2, 2008 at 9:03 AM

Dammit. I’m tired of you people stealing all my lines.

By: Outside The Beltway | OTB

Outside The Beltway | OTB — Wed, 02 Jul 2008 19:15:54 +0000

Obama’s ‘Sweetheat’ Home Loan…

The Manufactured Outrage of the Day comes to us from Joe Stephens and his page A3 piece for today’s Washington Post, “Obama Got Discount on Home Loan.”
Shortly after joining the U.S. Senate and while enjoying a surge in income, Barack…

By: jerseyman

jerseyman — Wed, 02 Jul 2008 19:12:45 +0000

Obama spokesman Ben LaBolt said the rate was adjusted to account for a competing offer from another lender and other factors.

It is good to know that the free market is alive and well in Chicago and the politicians go to the highest bidder!

By: danking70

danking70 — Wed, 02 Jul 2008 18:44:00 +0000

Do Sen. Dodd and Conrad still have their sweetheart VIP rates or have they been raised to regular levels now that the flashlight is shining?

By: Larraby

Larraby — Wed, 02 Jul 2008 18:17:02 +0000

Rest assured that Jim Ruttenberg and his team of McCain investigators will not look into the story. The guys at the NY Times are still trying to find new witnesses who will say that McCain had an affair. The Times will not touch the Dodd Contrywide story with a ten foot pole. After the story broke, the Times did do a feature story on Dodd. I thought it might mention the scandal. Instead it was about how Dodd is a workaholic devoted senator and all round good guy. No mention of the Countrywide scandal that has engulfed Dodd.

By: byteshredder

byteshredder — Wed, 02 Jul 2008 18:14:44 +0000

Obama got sweetheart deal on home loan Update: Obama says it was competition

Leak by bloody leak, the truth is slowly oozing out on this pitiful guy.

Still waiting for Barack Hussein Obama to release an official certified copy of his birth certificate. Because as of date, what has been published on the Daily KOS, and Obama’s Anti-Smear web sites, have been analyzed as fakes.

By: dmh0667

dmh0667 — Wed, 02 Jul 2008 18:01:39 +0000

I remember a day when drudge….

galtg on July 2, 2008 at 1:37 PM

This is not the Drudge I knew…

By: galtg

galtg — Wed, 02 Jul 2008 17:37:24 +0000

has anyone noticed how this story was on Drudge for a whole..what?..5 minutes..?

the national anthem story is buried in black on the left hand side but the negatice McCain story in in the center..in red

I remember a day when drudge….

By: ArmyAunt

ArmyAunt — Wed, 02 Jul 2008 17:27:18 +0000

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

Where in the hell did they get 3 million dollars?

By: jackmac

jackmac — Wed, 02 Jul 2008 16:54:03 +0000

Well, come on, he had to keep up with his mentor/pastor’s new digs.

By: galtg

galtg — Wed, 02 Jul 2008 16:43:44 +0000

another poster already showed that northern trust’s CEO gave to Obama as he did also to republicans..playing both sides..it’s entirely possible he did Obama a favor ..it fits with his MO..make sure whoever gets in office, rep. or dem, owes me something

By: ynot4tony2

ynot4tony2 — Wed, 02 Jul 2008 16:38:57 +0000

Marty on July 2, 2008 at 9:05 AM

Nice to see that they were able to stuggle through all those student loans they paid off while living in their $415,000 condo on the south side.

I’ve been trying to make this point for a while now on message boards, comment pages, and my blog.

Ocarter attended an affluent private school, the best colleges, lived in a plush condo, then a luxury mansion…all without ever having held a real job, near as I can tell.

Has he ever had to get his hands dirty? Has he ever worried about how to pay a bill, or how he was going to afford having kids?

Yet the media still supports his back story with nonsense like the student loan issue. Pathetic.

By: HawaiiLwyr

HawaiiLwyr — Wed, 02 Jul 2008 16:19:44 +0000

I am trying to get a home loan now. I wish I had taken the time to make more “influential” friends first because I am afraid I am going to get stuck with market rates…damn.