Why did Obama approach SCUMBAG slumlord Rezko IN 2005 for home financing "advice"?

[rodeodance]

Forum Name General Discussion: Primaries
Topic subject Why did Obama approach SCUMBAG slumlord Rezko IN 2005 for home financing "advice"?
Topic URL http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x4251091#4251091
4251091, Why did Obama approach SCUMBAG slumlord Rezko IN 2005 for home financing "advice"?
Posted by Proud2BAmurkin on Mon Jan-28-08 03:39 PM

After the scumbag's slum empire was already crumbling?

http://abcnews.go.com/Blotter/Story?id=4203278&page=2


Much of the scrutiny surrounding Obama's relationship with Rezko has centered around a real estate deal involving Obama's home on the South Side of Chicago. Obama says he approached Rezko for "advice" as he sought to purchase the house in 2005. The owner of the house was trying to sell the a neighboring vacant lot as a part of the deal, Obama later told the Chicago Tribune he could not afford to buy the lot because "it was already a stretch to buy the house."

[plantwomyn]

1. From the Tribune Feb. 07

"Rezko's wife and Obama bought the adjoining South Side lots in 2005 and then engaged in a series of personal financial transactions to re-divide and improve their parcels. After their dealings were disclosed by the Tribune, Obama said he was "bone-headed" to enter the financial arrangements because Rezko was reported to be under grand jury investigation during that period.

In October, Rezko was indicted in a state government kickback scandal and in an alleged business fraud. He has pleaded not guilty to both indictments.

As he campaigns for president, Obama has distanced himself from his longtime friend.

Rezko's wife appears to have netted roughly $54,500 from her dealings with the parcel, but that figure does not include expenses and property taxes. She bought the parcel for $625,000 in June 2005, the same day Obama bought his home for $1.65 million. Both lots had been part of the same estate, but the owner listed them for sale separately.

In January 2006, Rita Rezko transferred a 1,500-square-foot strip of her land to Obama for $104,500. Her recent sale of the rest was for $575,000."

from Daily Kos
"Obama got a $300,000 discount on the lot on which the house stood. The yard, purchased by Rita Rezko for the full price of $625,000 the Obamas got to use for no cost at all. Obama’s profit is $925,000. Not a bad deal."