Santorum Defends Use Of Exclusive Mortgage Lender, Donor

[sabra]

http://www.thepittsburghchannel.com/news/7370460/detail.html

Santorum Defends Use Of Exclusive Mortgage Lender, Donor


LEESBURGH, Va. -- When Sen. Rick Santorum refinanced the loan on his 5,722-square-foot home in this distant Washington suburb, the mortgage came from a private bank that caters to wealthy investors and has donated to his charity.

The $500,000 loan was signed by the bank's president and chief executive officer, Michael Crofton, who has given money to his campaign, court records show.

...

Santorum, who has six children, earns $162,100 as a U.S. senator. During a stop in Pittsburgh on Tuesday, he said he did not think Philadelphia Trust was an exclusive bank. He said he sought refinancing through the bank because it seemed as good of a place as any. He said he knows Crofton because of his philanthropic work.

"One of the things about Mike is, in the years I've known him, he's never lobbied me for anything, never asked me for anything, never did anything that was related to my professional capacity," Santorum said.

[Virginian]

1. I guess he will be selling that house next year.

Refinancing is an expensive action for someone who will be selling that house next year after he loses his reelection bid.
The interest rates are higher now than when he bought, he will have to pay the closing costs -- it doesn't make economic sense to refinance that house unless maybe he had an interest-only or balloon mortgage. But then, who ever said he had any sense in the first place.

PS: We don't put that silent "H" on the end of Leesburg (or Petersburg either).

[KC21304]

3. I believe I read that he indeed does have a $500,000

balloon payment in 2008. I'm sure there is some nice Christian organization that will give him an obscene salary after he gets booted out of office.



On edit. I see this info is in the story. Should have read all before I posted.

[Virginian]

6. But don't leave him down here...

Send him back where he came from. Let his kids be homeschooled in his home state.

[mahatmakanejeeves]

14. Oh, he won't be leaving.

He'll end up on the faculty of that school William Farris is running in Purcellville. They never leave. Loudoun County is infested with ex-Raygun freaks.

[Ecumenist]

2. Of course, Ricky.....

Why would anyone have the nerve to think that you called in a few markers to get this mortgage, as I'm sure that the fact that this banker donated to youe "charity" just happens to be an unfortunate coincidence. Tsk, Tsk, tsk. It's just a damn shame that people are so cynical and jaded nowadays. Just a damn shame.:nopity:

[bleedingheart]

4. His home in Virginia... Yet he is supposed to represent PA

[gratuitous]

5. Oh yeah, my bank's always trying to lend ME money

I mean, heck, I don't make $162,000 a year, but you wouldn't believe how many times a day my bank calls me up just to see if I need some extra money, and how eager they are to lend me three or four times my annual salary just on my good looks. They never expect anything in return, either, Rick.

Ain't life wonderful?

[bleedingheart]

7. that happens to you too?

I feel so left out...

:sarcasm:

[gratuitous]

10. Sure! And there's this guy in Nigeria . . .

I expect to see some return on the money I sent him last month. Should be lots and lots of $$$!

[brer cat]

13. lol I've know a few folks who actually got excited over these

emails...all republican, need I add. They aren't just greedy bastards, they are stupid greedy bastards.

When your money comes in, any day now I'm sure, buy us all a cold one. :beer:

[AlCzervik]

8. this mortage thing is a pretty large sweet deal so what other things is

he getting a sweet deal on?

[Ilsa]

9. Is this really a "private" bank?

Very few of those private charters exist any more. I thought all new banks had to have a state or federal charter.

[corporatemedia]

11. It's all part of his bag of TRICKS!

Abracadabramoff!

Rick Santorum (R-VA)

aka:
Tricky Ricky
Tricky Rick
T-Ricky

http://santorumcybergate.blogspot.com/

[Occulus]

12. I've never known declaratives issued by Republicans to have

even the slightest truth.

I think that statement deserves investigation.