ExposeObama.com
c/o The National Campaign Fund
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NEWS RELEASE: FOR IMMEDIATE RELEASE
Contact: Bruce Hawkins
July 02, 2008
(202) 465-7192
bruce@exposeobama.com 

Obama’s Preferred Jumbo Mortgage Highlight Hypocrisy

Obama’s early attraction of authenticity shown to be a sham

Washington, DC - Just like other high-powered political insiders, Presidential nominee Barack Obama joins the rogue’s gallery of high-profile Democratic Party members who scammed highly profitable home loans.

Obama, purchased a $1.65 million mansion in Chicago through a “super, super jumbo” loan he received from Northern Trust Bank in Illinois, according to the Washington Post.
 
“The portion of the money financed through the lender ($1.32 million) was offered to the Obamas at an unusually low discount interest rate locked in at 5.625 percent over the life of the 30-year fixed-rate loan, which was below the average of what a typical Chicagoan pursuing a similar low loan rate received at the time,” according to the Post report.

“While Americans are struggling because of the mortgage crisis, Obama was ignoring the abuses of mortgage lenders because he was personally benefitting,” said Floyd Brown, President of the National Campaign Fund.
 
“Barack Obama has set a high standard in his rhetoric about political corruption. Now thousands of Americans will be disappointed that he didn’t live up to his word,” said Brown, adding, “He is just another corrupt politician feeding at the trough of special favors and inside deals.”

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ExposeObama.com
c/o National Campaign Fund - 1101 Pennsylvania Avenue NW Ste. 600 - Washington, DC 20004 - 202 465-7192
bruce@exposeobama.com