Sunday, December 5, 2010

Can Mike Huckabee afford to leave his Fox job to run for President?

In addition to poor fundraising, clemencies gone bad, and an apparent disdain for presidential politics, here’s another reason Huckabee is unlikely to run:

Mike Huckabee’s $3 million home
Mike Huckabee, who left Arkansas, where he built the platform for his media success and which, incidentally, has an income tax, is putting down expensive roots in a beach development in Walton County, Fla., east of Destin — a $3 million home. David Koon reports:

Paperwork filed in Walton County, Fla. shows that Huckabee and wife Janet are building a new multi-million dollar home on Blue Mountain Beach. The building permit for the three-story beachfront house lists the projected cost of construction at $2.2 million. This is in addition to the cost of the land, which Walton County most recently appraised at $853,062. The land was purchased for $800,000 in 2009 by the Angus B. Wiles Trust. The trustee is Bryan Jeffrey, a Little Rock accountant who handles Huckabee’s accounting matters. A Florida official said records indicate Huckabee is the owner of the trust. Trusts are frequently established in Florida as a means of shielding the identity of property owners from easy Internet searches. County records for the trust show an $800,000 mortgage with Centennial Bank filed Nov. 20, 2009, modified in an unspecified way in June, and a $2.25 million mortgage with Centennial filed June 23. It’s unclear from records if the first mortgage became part of the second. The records also indicate a pool or spa is in the works.


Read the entire article HERE


Doug NYC GOP said...

If I read that mortgage info correct, is Huck 100% leveraged? If so, a presidential run might be a little troublesome.

Right Wingnut said...
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Right Wingnut said...

You can't take out a $3 million mortgage on a $3 million home. It looks like he's financing 75%, which is standard for a jumbo loan. Still, at current jumbo rates of around 5%, he's staring at a $12,000/ month P & I for the next 30 years. Taxes are going to be a bear too.

Right Wingnut said...

Also from the article...

Janet Huckabee is often seen in town, recently at an upscale design store picking out furnishings for the new Florida home.

By the way, I checkout the ROS thread on the topic. Craig "Iowa: Huck #1" can be a little much. Why does he keep posting the same stuff over and over again in rapid fire fasion?

kelly said...

Huckabee is a loser!