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

Today’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.

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]