Obama's Favorable Home Loan (And the "Other" Lender To Be Named Later? ...)

Posted: Jul 02, 2008 1:53 PM
The Washington Post story “Obama Got Discount Home Loan,” drew some attention this week -- no doubt due to the fact that other prominent Democrats have recently been scandalized for having received special mortgage deals.

Today, the Obama campaign responded, saying that, “anyone with the Obamas’ financial profile could have gotten the same rate on that mortgage.”

Obama's spokesman Ben LaBolt went on to say that,

... the Obama family was flush with cash at the time they were loan shopping and that the bank in question, Northern Trust, sought their business by offering a lower mortgage rate and to respond to a competitive mortgage rate offered by another lender. LaBolt would not identify the lender “at this time.”
(Emphasis mine).

Flush with cash?  I thought he was still paying his college loans???

So his excuse for Obama receiving this "sweetheart deal" is that another company -- whom he won't name -- was offering an even sweeter deal???