A year later, the couple refinanced for $500,000….What was curious was the source of the increased mortgage. It was a new private bank catering to ?affluent investors and institutions? ? whose officers have contributed $24,000 to Santorum?s political action committees and re-election campaign ? called Philadelphia Trust Company.
….The 12-page deed on file in the Loudoun County courthouse does not provide much information about the loan, although it does state that the term is just five years, with repayment of the $500,000 due by November 1, 2007.
Let’s see. At an interest rate of, oh, let’s say 4%, that’s $110,000 in payments per year. Or else a mighty big balloon payment in November 2007, which as Will points out, is conveniently just a few months after Santorum’s current term expires.
But I’m sure we’re all being unduly suspicious here. There’s nothing wrong with friends helping friends, is there?