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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. [cont]
UPDATE - See Comment below
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Youse gonna do sumtin about it? I din think so. Maybees youse should mind your own business befores youse has an unfortunate accident. No wha I'm sayin. Hey, how bout dose Cubs?
ReplyDeleteThose Fannie Mae limits apply only to US citizens; the limit for Indonesians is $1.5 million, so he's OK. Now leave him alone and go look for a Republican who was given some nice clothes.
ReplyDeleteLt. Col. Gen. Tailgunner dick
I'm sure Olbermann and Chrissy Mathews will be all over this story.
ReplyDeleteThe previous anonymous was me. It was a case of premature eclickuation.
ReplyDeleteHey, maybe the Republicans will launch an investigation. BWAAAHAAHAHA, an investigation, I kill me.
ReplyDeleteIt's Clinton II alright. The more illegalities we learn of, the less anyone will do about them. So what's the bother, Rodger? We all know this will barely amount to a pile of stinking feces, that will be swept away. It's why I've lost faith and can no longer stomach politics.
ReplyDeleteSad day for the Republic. So much that stood for so long. Expect the disappointments to come faster and harder from now on. Blame? things fall apart.
ReplyDeleteThe author of the article has posted a retraction.
ReplyDeleteFurther research found that the Obama’s obtained a Land Trust Agreement with Northern Trust which means they did not receive a Fannie Mae/Freddie Mac loan over the Federal limit.
It seems that Northern Trust became both the “borrower” and the “lender” regarding the Obama South Greenwood property. The Cook County Tax Assessment lists the “loan” as Fannie Mae/Freddie Mac. What remains to be determined is the Fannie Mae/Freddie Mac loan designation assigned to Northern Trust and what limits companies such as Northern Trust are limited to when seeking a loan.
Hopefully he'll find out what the limits on loans to entities like Northern Trust are.
How long before Madoff is named Treasure Secretary, or promoted to Fed Chief? Move over Bernanke, there's a new thief in town!!
ReplyDelete--Jack