dirty real estate deals

Everything About Rick Santorum Is Gross, Like His ‘Creamcup Trust’

Santorum, Creamcup, Sack All DieToday’s Santorum scandal du jour — which means “a frothy mix, etc.,” in Santorum’s native language of Gay Obsessed — involves the various mansions he purchases through shady mortgages, in Virginia. But really, did he need to name his sketchy tax dodge “The Creamcup Trust,” and did he have to involve somebody named “James Sack”?

Rick Santorum is scheduled to win the South Carolina GOP primary as soon as he announces his plans to revoke the 13th, 15th and 19th amendments. So it is worthwhile to continue posting about his sleazebag real-estate scams, right?

Something called The Patch reports:

The Creamcup Trust took out a mortgage for $1.5 million from American Home Bank in Lancaster, PA. On the same day, the Santorums took out a mortgage for $200,000 in their own names from the same bank, according to county records. The two mortgages represent 85 percent of the sales price. The family repaid the $200,000 loan a year later, according to the records.

Now things get a little more complicated. In June 2009, the trust transferred ownership to the Santorums, so the home is now listed in the names of Richard and Karen Santorum.

Sponsored Video

In February 2010, the Santorums took out a $999,950 mortgage on the home that continued to carry the $1.5 million mortgage. That’s nearly $2.5 million in mortgages on a home that sold for $2 million.

And it continues like this, one sleazy insider deal after another, mortgages that wildly exceed the old inflated sales price of mansions now worth half that, etc. How many rimjobs behind the mortgage office is Santorum giving these banker buddies every time he cashes another dirty check from a Wall Street mortgage broker? [The Fairfax City Patch]

Related

About the author

Wonkette Jr., everybody! Hooray!

View all articles by Wonkette Jr.

Hola wonkerados.

To improve site performance, we did a thing. It could be up to three minutes before your comment appears. DON'T KEEP RETRYING, OKAY?

Also, if you are a new commenter, your comment may never appear. This is probably because we hate you.

128 comments

  1. Texan_Bulldog

    But he believes in Jeebus!!!!!!1!!!!!1!! People who believe in Jesus are not crooked, corrupt, hypocritical douche bags. Oh wait…

    1. BaldarTFlagass

      That happened to me in Phuket, Thailand. Helpful hint, if this happens to you (in my case, too much Singha beer and Mekong whisky and spicy Thai food), take the lid off the toilet tank and sit backwards on the hopper.

  2. prommie

    Purchased a tract mansion in 2007, huh? Gee, its well known that was the best time to buy, prices were at their peak, and have fallen rapidly since. Wait, have I got that wrong?

    1. ShaveTheWhales

      You go with the mortgage scam you have, not with the mortgage scam you would have liked to have gotten a few years back.

      1. Fare la Volpe

        I had a buddy who showed up to a Huntsman rally with the sign:

        "Will Sleep with Men for Huntsman Votes"

        And damn if he didn't try his hardest.

  3. FNMA

    You know, stuff like this happens and it makes think there really is a God and she has a very bent sense of humor.

  4. Terry

    I'm looking forward to the day when Rick Santorum is out of the public limelight and is mostly remembered as a punch line.

    1. BaldarTFlagass

      I remember thinking the same thing about David Lee Roth back in about 1984, and my prayers were finally answered.

  5. Schmannnity

    How can they afford another house on Creamcup Lane when they already have that big place over on Scrotum Circle?

  6. HarryButtle

    Wait…so you're saying that AFTER Dan Savage successfully turned the man's name into a synonym for frothy anal juice, he decided to name his trust fund "Creamcup?" Really?

  7. spends2much

    To be fair, who wants to buy a mansion with Santorum all over it?? No wonder their mortgages are underwater!

  8. Baconzgood

    Lancaster eh? They makes me some high quality furniture there. It's also a great place to play Baconz favorite game: I'm Mr. Punchy, Amish Country Edition.

    1. HarryButtle

      Careful, man, the Amish are goin' gangsta…cuttin' off people's beards n' shit. Next time you knock ol' Jebediah out of the carriage, he may just put a cap in yo ass!

  9. SayItWithWookies

    I'm sure Rick Santorum could easily have gotten a $2 million mortgage on his $175,000 salary without having to form a trust with some rich developer/loanshark — and then deliberately taken out more loans for more than the house was worth. Hell, isn't that exactly what he and the other right-wingers are alleging was going on all the time with poor homeowners who were taking out huge loans they couldn't afford, and whom they blame for destroying the economy?

    Well they've finally got a solid example of the kind of thoughtless greed on the part of the consumer that they've been using as a bogeyman for the last three years. It's just too bad their sole example is one of their own, but that shouldn't stop them from blaming Rick for our fucked-up economy, right?

  10. ClydeMydia

    From public records:
    10607 CREAMCUP LN,
    GREAT FALLS, VA

    Tax assessment 2011: $1,255,270

    Purchased in 2007 for $2,000,000…………oops!!

  11. actor212

    Folks are fast, man. A Google search on "Creamcup" turned up the Zillow.com listing for the address at position seven.

    By the end of the night, it'll be number two!

  12. OneYieldRegular

    If there's not some San Francisco dessert place already working on having a "Santorum Creamcup" on the menu by this evening, then they're all just sleeping on the job.

    1. Negropolis

      I know, right? If they haven't put it on the menu, they can ship them all to Afganistan, and non one will have lost any.

  13. Eve8Apples

    "In February 2010, the Santorums took out a $999,950 mortgage on the home that continued to carry the $1.5 million mortgage. That’s nearly $2.5 million in mortgages on a home that sold for $2 million."

    Yip, sounds like he's the right guy to tackle the federal spending problem. "My house is worth 2 million so I will borrow 2.5 million against it." That is fiscal conservatism everyone can appreciate.

  14. DaRooster

    "That’s nearly $2.5 million in mortgages on a home that sold for $2 million."

    And I can't get a fucking refi?!

  15. Gl████Mc██████

    Sack, Creamcup, Santorum.
    The internet doesn't need censoring, reality does.

  16. DemonicRage

    You know, if somehow bizarrely, he was ever elected, his first Executive Act would be to rename the country Creamcup Nation, and instead of Amurkins, we'd all be 'lil Creamers."

    1. reliefsinn

      Please don't start suggesting that we could ever have a Pres. Santorum, and what his first Executive Act would be, please. There aren't enough drugs.

  17. BS4Dummies

    Creamcup Trust/ James Sack
    Angel of Adoption award for Jerry Sandusky, gay obsession. I think I'm beginning to see a pattern here.

  18. Dashboard Buddha

    Santorum formed the Creamcup Trust with James Sack

    People against SOPA broke the Senate's servers with so many emails…

    Barry showed some sack on the pipline…

    Could today get any better??

  19. MinAgain

    Creamcup. Really.

    So, do Teh Gays know they have a new word just waiting to be assigned a perverse sexual meaning?

  20. Warpde

    That's why the only form of Birth Control Sanny agrees with is swallowing.
    Does his wife know he's been getting cream from a sack?

Comments are closed.