Corruption: Obama Received Discount Mortgage Loan

Monday, February 9, 2009

Judicial Watch has found that in 2005 Obama received a home loan of $1.32 million from Northern Trust at a rate of 5.625%. The average rate for that day was 5.93% to 6%. It was secured without an origination fee or discount points. This saved Obama $300 a month for a total of $108,000, according to the Washington Post.


The FEC dismissed a compalint from Judicial Watch on the basis that Northern Trust gave others of similar power discounts.


The rich get richer and the poor get poorer!

1 comments:

Mortgage is the root of our economic crisis.So it is really important to be updated.Government should really prioritize this issue..

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