From Anti-Mullah at World Views: OBAMA HOME $900,000 OVER MORTGAGE LIMIT
Obama Fannie Mae/Freddie Mac Chicago Home Mortgage $903,000 over Legal Limit
I’m not sure how, but the Obama’s managed to procure a Fannie Mae/Freddie Mac mortage $903,000 over the legal limit.
While researching an article about Obama’s Chicago home about the circumstances surrounding who is the “owner”, I happened across a bit of information: Obama’s home has a Fannie Mae-Freddie Mac mortgage to the tune of $1,320,000. (Page 5 of Cook County Property Assessment Record)
The information comes from the Cook County Clerk’s office where the “owner” of the Obama home is listed as William Miceli, a former supervisor of Obama’s when he worked at the David Law Firm.
What’s unusual about the Obama mortgage is that the upper limits of a Fannie Mae loan on a single family dwelling as of January, 2008, is $417,000 while mortgages in “high cost” areas cannot exceed $729,750.
The Obama’s mortage, through Northern Trust Company, is in the amount of $1,320,000.
The limits for a Freddie Mac single family dwelling is $417,000, with an upper tier of $625,500 for homes located in Alaska, Hawaii, the Virgin Islands, and Guam.
(Continue reading at World Views)
From Monkey in the Middle:
I wonder what shenanigans the Obama's did to get this deal? I know thousands of people who have been turned down for mortgages due to the fact that the home they wanted to buy was over the limit that Freddie Mac established. Nor is it any wonder that Franklin Raines, the former chairman of Fannie Mae is an financial advisor to Barack Obama. Raines who orchestrated the Sub-prime disaster that the nation is facing.
The Media has ignored all these connections, cheering behind the empty suit that has been elected. Now they are seeing the truth, that what they have supported and advanced is nothing more than another corrupt Chicago politician.
3 comments:
Maybe he sold some political favors. I hear they do that in Illinois.
I found out the original source, with many new updates, is Death By 1000 Papercuts:
http://deathby1000papercuts.com/2008/12/obamas-rezko-ties-cook-county-clerks-office-lists-attorney-as-owner-of-obama-chicago-home/
Debbie Hamilton
Right Truth
Rahm Emanuel was on the board of directors of Freddie Mac
Cicero: "A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and he carries his banners openly. But the traitor moves among those within the gate freely, his sly whispers rustling through all the galleys, heard in the very hall of government itself. For the traitor appears not a traitor—he speaks in the accents familiar to his victims, and wears their face and their garment, and he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation—he works secretly and unknown in the night to undermine the pillars of a city—he infects the body politic so that it can no longer resist. A murderer is less to be feared."
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