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Posted by: spkguy 1 year, 4 months ago
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spkguy1 year, 4 months ago
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PC This is a complete piece of garbage a NON STORY!
As far as interest rates concerned the simple fact is...
"So Obama's rate was 30 basis points better than the average. However, the amount of the loan and the nature of the property are not the only factors that determine a mortgage rate. Another major consideration is the creditworthiness of the borrower. According to current rate quotes from myFICO.com, a borrower with very good credit can expect a mortgage rate about 30 basis points better than someone with pretty good credit, and a borrower with excellent credit can expect about a 50 basis point discount.
Unless the Washington Post has access to Obama's FICO score -- and unless it has rented an apartment to him, it probably doesn't -- it is missing a pretty important piece of information on what Obama's mortgage rate ought to have been. What was Obama's FICO score? I don't know, but considering that...
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spkguy1 year, 4 months ago
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--Obama had just gotten a $2.27 million book deal from Random House -- about $1 million more than the value of the mortgage.
--The Obamas each had exceptionally secure jobs that paid them a combined annual salary of about $500,000 per year.
--The Obamas had just sold their condo, on which they had realized a $137,500 profit.
--The Obamas were prominent public figures whose political futures depended in part on maintaining a reputation for responsibility and trustworthiness.
--The Obamas are known to be relatively thrifty and have no credit card debt but substantial savings.
...I would think that the Obamas were exceptionally creditworthy. So indeed, Obama received a "discount" -- the same discount that any borrower in his position would have received.
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pc251 year, 4 months ago
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off course it's a non story........interesting though that AFTER he got the sweetheart loan he steered 3 million into Northern Trust
competition for business how the Obama camp describes that........
and that 3 Million was from where......campaign funds????
"...I would think that the Obamas were exceptionally creditworthy. So indeed, Obama received a "discount" -- the same discount that any borrower in his position would have received."
yeah any home owner that would steer 3 million to be invested through Northern Trust........
From LibsRFunny
"Since," as in, AFTER he got the sweetheart loan. That's what's called a quid pro quo! that is the HEART of corruption.
I can't believe they were dumb enough to actually admit to a quid pro quo. Makes you wonder what the quid pro quo was for Obama's deal with Rezko.
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pc251 year, 4 months ago
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http://www.youtube.com/watch?v=jcOcGNIXAJA
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libsRfunny
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