Norm Coleman: 1 house, 14 years, 12 debt terms

[DogPoundPup]

Source: The Star Tribune

U.S. Sen. Norm Coleman and his wife, Laurie, have refinanced or changed the terms of their mortgage on their St. Paul house 12 times in the past 14 years.

Ramsey County property tax records indicate the Colemans have assumed greater and greater debt, increasing from a 30-year $172,900 mortgage in 1994 to a 30-year $775,000 mortgage the couple took out in March 2007.

Their house on St. Paul's Osceola Avenue has a 2009 estimated market value of $615,000, according to property tax records, suggesting they may owe substantially more than the property is worth.

The extent of the Colemans' refinancing, first reported Thursday by the online political website Politico, comes to light as Coleman faces continued scrutiny over his personal finances. Allegations have been made in two lawsuits that multimillionaire Nasser Kazeminy attempted to steer $75,000 to Coleman last year from an underwater services company in Texas that Kazeminy controls. In addition, Coleman has also faced questions about his living arrangements in Washington and his relationship with businessman and Republican insider Jeff Larson, who owns the million-dollar Capitol Hill row house where Coleman rents a bedroom and bath.

Read more: http://www.startribune.com/politics/national/senate/37369749.html

[Idealism]

1. Wow

I know plenty of jackasses in my trade who would be willing to write these contracts over and over again, but it still is shocking when I hear about this type of abuse. Just amazing!

[waiting for hope]

2. Interesting ...

Coleman has also faced questions about his living arrangements in Washington and his relationship with businessman and Republican insider Jeff Larson, who owns the million-dollar Capitol Hill row house where Coleman rents a bedroom and bath.

Don't most Senators have residences of their own in DC? And for all the refinancing, I don't buy the "low interest" rate explanation, it looks like they were living above their means.

[harmonicon]

9. not too strange

I don't mean to be patting Normy on the back here, but at least he's using his paycheck at home and renting a modest place in Washington. I think it's more common for House members to do that, because they could only be there for two years, but I don't think it's unheard of. Minneapolis airport is also a hub, so I'm sure that going from there to DC once a week isn't too taxing. Perhaps he's renting the room at substantially lower than market value, or perhaps he uses most of the house but only pays for the room.... I don't care. What I don't like is the wink-wink implication that two men living together = homosexual relationship = evil.

[wellstone dem]

14. I've never heard anyone imply "wink wink"

Norm is a well-known womanizer. The think is he wasn't renting a modest place. He was paying substantially less than market rate, getting a deal from a political operative. And now it looks like he may have gotten some special favors on financing his house. This on top of some special treatment of his wife.

No wonder Norm is fighting so hard for Paul Wellstone's senate seat, he needs the money, not from the salary but from the perks.

[Baby Snooks]

15. Only if they're very, very rich...

Some rent and some "room" because Washington ain't cheap and "housing" is not one of the perks of the job. Most keep their living arrangements out of the press, supposedly for "security" reasons which most of the media respects, but most would probably be embarrassed regardless of whether they are "rooming" in a "row house" near the Capitol or living in a nice big house in Kalorama or a nice big townhouse in Georgetown.

Quite a few have borrowed against their equity all around the country particularly when values began to increase and interest rates began to decrease.

Quite a few are wishing they hadn't and that of course is the next chapter of the great economic collapse - the defaults on the home equity loans. And the Colemans may be among them. He may have continued to protest the recounts simply because he needs the money. But then that is probably true in most cases at this point. It's a "cushy" job that has a lot of perks despite their having to pay for their own housing.

[pattmarty]

20. Better look for the dreaded "hooker connection".

[LiberalFighter]

22. They had something on the news about a dozen members sleeping in their office.

Some in Congress choose couch over D.C. housing

Neither Rep. Jeff Flake nor Rep. John Shadegg own or rent housing in the Washington, D.C., metro area. Instead, they sleep most Tuesday, Wednesday and Thursday nights in the spacious inner offices of their respective office complexes on Capitol Hill.

They are among legions of U.S. senators and representatives who merely bunk rather than reside in Washington. Most congress members who sleep in their offices slumber on sturdy leather couches that otherwise are used to receive staff, constituents and other guests.

"The truth is - I don't know what the figure is - but there are dozens and dozens and dozens and dozens. I would put the figure probably at, probably, I don't know, 60 or 70 or 80 members that do that," he said.

Stories are rife in Washington of congressional members who rent dank basement apartments in brownstones and others who crowd three or four into rental houses to split the cost.

[Alexander]

3. Who cares about Former Senator Norm Coleman?

It's not like he's in office any more.

:evilgrin:

[Hulk]

4. Exactly. He's just one more "f*cked over citizen by the banking and loan corps".

I know it's not the banks fault...but this is why they are in the deep cess pool THEY are in. They keep lending and lending until you are in debt up to your eyeballs and beyond.

Welcome to America...the land of the indentured servitude.

Nation of f*cking morons.

[Fearless]

5. Just because we don't like his politics doesn't mean that his family should suffer.

Could he get thrown out onto the street? Maybe by the looks of it. Coming from a background of debt and so on, I feel for his family, and for him who ideology aside still wants to provide for his family. That, I find is respectable.

IMHO.

[JI7]

6. i thought they would be rich from this thing his wife invented

https://www.bloandgo.com/index.asp

[Fearless]

7. LOL

[azurnoir]

8. Wasn't that his Dad?

http://anti-strib.blogspot.com/2006/07/norman-bertram-coleman-sr-american.html

[dw]

12. Now THAT'S funny!

[formercia]

13. Sounds like a name a hooker thought up n/t

[w4rma]

11. His politics is why his family suffers. He supports the con that banks are pulling on Americans.(nt)

[Fearless]

26. Should I pity him less because of his greed and ignorance then?

It is a very versatile emotion, with the capacity to be used on people you agree with and people you don't.

[pattmarty]

21. Oh, c'mon for Christ sake. Everybody has to be responsible........

........for the choices they make in life. I didn't see anything on this board that commented on his family. The guy is a conservative ass hole that fucked up (and the story is still unfolding) by spending himself into a huge financial hole. Who the fucks fault is it? There are many more people out there that I REALLY feel for because of financial problems that they didn't bring on themselves like Coleman did.

[Fearless]

25. Even if he deserves it...

Even if he made his bed and has to sleep in it, I can still pity him for his ignorant choices. It does not mean that I condone his actions, it just means that I think that anyone who doesn't get how to live a productive and honest life is pitiful nevertheless.

[pattmarty]

28. I just don't feel as charitable toward him as you do..............

..........I don't believe in "fate" or "Gods will" or shit like "what goes around, comes around", but I can't help myself when somebody that actually "deserves what he/she gets", gets it. Character flaw, I suppose.

[T Wolf]

23. EXACTLY WRONG! Until those that the thugs care about suffer because of their actions, they will

continue to act in ways counter to the welfare of the ENTIRE country.

Those are the only consequences they recognize.

[Fearless]

24. You see in black and white.

I don't. He can be completely wrong but nothing you can say is going to make me feel less for him or his family. In fact I may pity him and his more so because of his ignorance.

[dflprincess]

29. His wife, Laurie, is only suffering because

she has had to stay in Minnesota so long this year because of this election dragging on. I'm sure once she gets back to California and her life as an "aspiring actress and model" (she's in her early 50s for God's sake - I think that ship has sailed) she'll be happy and out of her misery.

[Hawkowl]

32. Yes, they SHOULD suffer

Policies and politics have consequences. Coleman has been a grade A corporate shill and fanatical partisan for fraud and deregulation. Let him reap the whirlwind. The Coleman's deserve pain.

I feel sorry for all the poor people who have tried to work hard and play by the rules. I feel sorry for good people who have been screwed and ripped off by criminal politicians, banks, and their minions.

[Aggie]

10. I'm shocked

...that anyone could refinance or change the terms of their mortgage that many times in such a short span of time. I guess that's what no oversight or regulation brings.

I'm just happy Norm won't have a say in our nation's finances. The economy is screwed up bad enough without the input of someone who clearly doesn't know how to manage his own money.

[Caretha]

16. Looks like he

was using his home as an "ATM Machine". Typical Repub. Spend, spend, spend like there is no tomorrow.

[lanlady]

17. Norm seems to have plenty of money for lawyers

Contesting an election is going to cost him big time.

[liberal N proud]

18. 12 times in 14 years? That is fucked up

The system shouldn't allow anyone to refinance that often.

[EFerrari]

33. Why? If you can get a better deal, why not?

[pattmarty]

19. Not only was Coleman a shitbag, he was a STUPID shitbag.

[GinaMaria]

27. where was he on the bailout? Did he fight for the average

American to be bailed out? Anyone know his voting record? It wouldn't surprise me, but I would shake my head to learn he was voting against his own interests and not just the American people's interest. Did he think with all the talk about people refinancing and getting into big debt, it didn't apply to him? I understand how someone could dig themselves into a hole and then the only way to survive is to keep digging. It can't be a pleasant feeling to have that hanging over you nonstop. However, if he could relate to other Americans' financial woes and voted to protect those who made this situation so insanely off balance without voting for consumer protections or help for Main street... I will have less pity for him than for the people his decisions have impacted.

[liberal1973]

30. When will we see those numbers in a mug shot?

11412- smile for the camera Norm!

[Vinca]

31. Wonder what he's using the money for. We know it's not plastic surgery. nt