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Obama Got Discount on Home Loan


USS Redskins

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Compared with the average terms offered at the time in Chicago, Obama's rate could have saved him more than $300 per month.

Wow, are we talking about switching car insurance or a mortgage on a multi-million dollar house? A total non-story. Good job, WaPo.

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He got a 5.6 rate when the avg was a 5.9 rate is hardly a big deal. He had companies competing against each other and credit rating wasn't a issue.

Avg rate when I closed my loan for my type of loan, credit score, and amount was .25 higher then what I got since I had CB, Eloan, and countrywide all competing against each other....

Or was it because I am a Redskins fan?

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Okay, this is what I don't get... many are opposed to roll back the tax cuts, because they think that would be proportionally unfair. Yet at the same time, they are opposed to the rich negotiating a better deal on their home loans?

Smacks of inconsistancy to me. When I bought my home I wrangled for everything I thought I could get away with and the lender wanting my money gave on a few issues to make me happy. I even played groups against each other. Now, A rich dude, more likely to buy mulitple residences more often, isn't allowed to do the same?

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Get ready for the fury of TEAM OBAMA. I see the burning tires in the distance...the troops are on their way

Did you notice all the Republicans who said this is a non-story?

I could dig up tons of :pooh: on McCain thats a bunch of baloney, talk about his divorce, claim he sold secrets when he was tortured, post stuff about the Hotel Hanoi, demand that his wife release her tax returns....

But I don't. I want to talk about the issues and "TEAM OBAMA" as you refer to us is sick and tired of people posting stuff about Obama that is irrelevant, not based in fact or in this case a sensational story that contains nothing illegal or even sketchy.

Excuse me I have to go tend my tire-fire.

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Looks like Obama is just like any other rich dude who wanted the best rate available on the mortgage for his mansion.

Shocking.

Honestly, if he DIDNT do that, i would call him financially irresponsible and THAT would be what people are hitting him with. :laugh:

Seriously, there are a lot of things to hammer Obama with, but this one is just ****ing retarded.

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There is nothing shady about that at all. The company gave him a great loan to keep a valuable client when faced with competition. It's not a special favor it's how business works. You fight to hold onto your better clients if you want to stay in business.

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