Who Owned Obama’s Home And Who Paid His Taxes? - Updated

Published by AJStrata at 12:30 pm under 2008 Elections, All General Discussions

Keep Checking Updates At The End

One of my stellar readers, SBD, has been doing some research on Obama’s home in Hyde Park, Chicago. As the story goes the Obama’s bought the home in 1993 and subsequently sold it in 2005. But if you look at the records on the property they are very confusing and suspicious. Before we dive into the details, as we see them, I want to bring in Tony Rezko and his plea dealing efforts.

From Hillbuzz there is news that convicted felon (and Obama associate) Tony Rezko is about to turn states evidence, and the rumor is he has an interesting target in his sights:

(2) We just spoke with someone well-connected in Chicago politics who told us that the bank Sneed is talking about has to be Broadway Bank, which is owned by the politically-connected Giannoulias family. We were told that Sneed’s column confirms rumblings people we know heard independently that Tony Rezko is giving up the Giannoulias family to Patrick Fitzgerald — Rezko and the Giannoulias family are as close and tied together as anyone in Chicago could be. If Rezko is turning on them, then Rezko is going to give up Governor Rod Blagojevich and Obama too.

…

4) The Giannoulias family was involved with Obama as far back as his first state senate campaign in 1996. It has been long rumored here in Chicago that Obama obtained a sweetheart deal on his first town home here in Chicago — which he could not have afforded otherwise — and guess who the financing came from for that house? We’ve been told it was Broadway Bank, the Giannoulias bank. Now, this sets up a scenario where the Giannoulias family helps Obama with his campaign finances and gets him deeper in their pocket with his sweetheart mortgage deal (for the first home he owned that he could not afford) – all in exchange for quid pro quo to be determined later.

This post just came out yesterday, as SBD was putting the finishing touches on his research. I don’t believe these two events are independent or coincidental. What could Rezko be singing about? Well, let’s see what SBD has developed.

Basically it is a lot of questions about a lot of conflicting records - no smoking gun (yet). We are throwing this data out to the blogosphere to bring more minds and tools to the problem. It may be nothing, and it may be the fatal October surprise that always seems to comes about. And no, I am not coordinating this with anyone, and neither is SBD who contacted me a week ago and was actually going down a different path until all the data came in.

Here is the summary of what was found in the records:

1. A Lexis property search for Obama in Illinois shows the Hyde Park property in Obama’s name beginning in 1998, but Obama supposedly bought the property in 1993.
2. All tax assessments from 1998-2004 are in the name of Emil - is this the person paying taxes on the property for the Obamas until they sold the property in 2005?
3. Obama Records have a different Legal Description than the original owner’s documents.
4. Cook County Recorder shows completely different information than Lexis: Emil owns the property from 1986-1989, so why is he listed as paying taxes from 1998-2004 in other records?
5. The property is passed via Warranty Deed to Stephen Anderson in 1989, then via Warranty Deed to Obama in 1993, then via Warranty Deed to Elling in 2005 - which aligns with the sequence one would expect given the standard news reports.
6. There is the Warranty Deed to Obama from Anderson in 1993, however release of the Anderson Mortgage is not recorded until 1998, and there is a requests it be sent to Obama’s former Law Firm.
7. The Obama address in the 1999 records was shown as 927 W. Argyle 1W, not Hyde Park.
8. The mortgage from Hyde Park Mortgage lent in 2002 is originally recorded and sent to Chase Manhattan Mortgage Company. Then assigned from Hyde Park Mortgage to Chase Manhattan Mortgage Company, Then it is supposedly Assigned again from Hyde Park Mortgage to Chase, but this last transaction says the original lender was Barbara Hill for an amount $30,000, property address 2772 E. 75th Street, Unit 3G S.
9. Finally, a 2005 Release from GREATER IL TITLE CO is listed as a record of payment and there is another seperate Release from Hyde Park Mortgage, even though it had been assigned twice to Chase Manhattan Mortgage.
10. The final sale by the Obamas was financed by Northern Trust, the same company that was used to purchase Obama’s new mansion which partially paid for by Rezko, who bought part of the land which he later sold to Obama.

SBD has produced various detailed reports and made copies of the materials he has gathered. The complete list of his work is linked below. We are offering this information up to the blogosphere and public in hopes they can help unravel what may be going on here with these records.

To be fair, this could be nothing more than bad record keeping - but somehow given the Rezko connections and all these interesting names on the record of this one house it would seem worth investigating. There may be information other people have which may tie into this as well.

What is clear is we only have a few weeks to do the job the lazy and smitten news media should have done vetting our presidential candidates regarding possible corruption. SBD and I look forward to hearing from folks on what this might be and what other information they may have to add to this picture as it finally comes into focus.

SBD detailed reports: [Folks, meant to test the links before posting, they all work now!]

Summary Report

Full Chronology Of Property Records

Lexus Property Records

1993 Purchase Anderson-Obama File 1

1993 Purchase Anderson-Obama File 2

1998 Property Release

1999 Property Release

2002 Obama Mortgage with Hyde Park Mortgage

2002 Mortgage Assignment

2002 Mortgage Assignment Barbara Hill

2005 Elling Mortgage From Northern Trust

2005 Obama Mortgage Release

2005 Chase Manhattan Release

Update: Some details on the Rezko-Obama dealings regarding Obama’s first house.

Update: It seems Obama’s friend, the State Treasury Secretary, has a history of making bad loans - which in the current financial meltdown is the kiss of death.

Udpate: This paragraph at the end of the Hillbuzz post linked above caught my eye because now there is a 3rd Obama property deal in the mix:

Just thinking that last paragraph out, Obama’s defense in the Rezko business was that he never did anything for Rezko so there was no quid pro quo. What the Giannoulias and Broadway Bank stuff proves is that Obama sits in people’s pockets for a while before the favor is given. He bought that town house sometime between 1997-2000 or so, since he lived there for a few years before trading up to the Obama Mansion with Rezko’s help in 2005, after he was in the United States Senate.

Hmmm…

Update: Seems even Bill Ayers isn’t exempt from this mess. One of the financial institutions tying Obama to Rezko was also used by Ayers and Obama for the Woods project.

Update: From this Free Republic post we find that Joseph and Rowena Emil appear to be legitimate, and sadly deceased:

EMIL, JOSEPH
Chicago Tribune - August 23, 2002
Joseph Emil , 82, beloved husband on Rowena; adored father of Carla Emil (Rich Silverstein) of San Francisco, CA, Jeffrey (Barbara) Emil of Tampa, Fl, Pamela Emil of New York City and Glen Emil of Chicago, IL; loving grandfather of Benjamin Emil and Matt Rogers; dear brother of William. Everyone who knew him, loved him and he will be greatly missed. Contributions made in his memory to a charity of your choice will be appreciated. Memorial to follow.

//

EMIL, ROWENA
Chicago Tribune (IL) - March 13, 2006
Rowena Emil, nee Clyman, 79, loving wife of the late Joseph Emil ; beloved mother of Carla (Rich Silverstein) of San Francisco, Jeffrey (Barbara) of Tampa, FL, Pamela of New York City and Glenn Emil; grandmother of Benjamin Emil and Matt Rogers; sister-in-law of William (Sandy) Emil. A memorial service will be held at a later date. Please send donations to the charity of your choice.

This lets State Senator Emil Jones pretty much off the hook.