Friday March 28, 2008

Rev. Wright's retirement home...

Is pretty much a mansion. The church secured a $1.6 million mortgage on the house and took out a loan for $10 million dollars to give him a line of credit:

A two-week FOX News investigation, however, has uncovered where Wright will be spending a good deal of his time in retirement, and it is a far cry from the impoverished Chicago streets where the preacher led his ministry for 36 years.

FOX News has uncovered documents that indicate Wright is about to move to a 10,340-square-foot, four-bedroom home in suburban Chicago, currently under construction in a gated community.

[...]

Documents show Wright sold the property to his church, Trinity United, in December 2006, with the proceeds going to a living trust shared with his wife, Ramah.

The sale price for the land was just under $308,000, about $40,000 less than Wright’s original purchase two years earlier.

Public records of the sale show Trinity initially obtained a $10 million bank loan to purchase the property and build a new house on the land.

But further investigation with tax and real estate attorneys showed that the church had actually secured a $1.6 million mortgage for the home purchase, and attached a $10 million line of credit, for reasons unspecified in the paperwork.

Also, Glenn Beck interviewed Anthony Bradley of Covenant Theological Seminary on black liberation theology. Justin Taylor has the video and other related links.

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Filed Under: casting stones, Democrats, Obama, presidential election, Wright

posted by Michele McGinty @ 8:24am Permalink Email This Add to: