Over the Fourth of July Weekend, the Washington Post revealed Obama had also secured a reduced mortgage for the same home, on top of the Rezko's discount, saving him more than $300 a month in mortgage payments. "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,” Post reporter Joe Stephens wrote.
Obama’s ties to shady mortgage deals extend beyond his own home, too.
Obama’s vice presidential “vetter” Jim Johnson, a former Fannie Mae CEO, also received a discount mortgage. Johnson was dismissed from the Obama campaign after details of his sweetheart mortgage deal were revealed to the public.
Amanda Carpenter
Amanda Carpenter is the author of “The Vast Right-Wing Conspiracy's Dossier on Hillary Clinton,” published in October 2006.
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