Who would lend $300,000+ for a condo worth $160,000?
....someone with Muslim backers
Was the mortgage issued by Nationwide? If so, perhaps the upcoming congressional investigation into “sweetheart” mortgages issued by Nationwide will “out” scumbag Zero.
Well, the condo went up in value since their original purchase. Also, at the time they re-financed and got the lines of credit, it was easier to qualify for such financing than it is today.
I think Obama knows that he’s set for life, financially. If he loses re-election in 2012, he will go on the lecture circuit and write more books. Obama is well aware that the Clintons raked in about $100 million after Bill’s term of office was over. Obama will be able to tap into that money stream, whether he gets re-elected or not. So this knowledge that he will never have to worry about money may have helped create this pattern in their spending.