White House Denied Third Mortgage

September 10, 2003 | Issue 39•35

WASHINGTON, DC—In light of recent budget concerns, President and Mrs. Bush attempted to take out a third mortgage on the White House Monday, but were denied. "Unfortunately, we're unable to serve the president's needs at this time," Washington Mutual loan officer Judy Schamanski told reporters. "Within the next 30 days, Mr. Bush will receive an adverse-action notice in the mail, which will outline the specific reasons for the denial. But, for starters, I would suggest that he get current on his second mortgage before he even considers a third." Schamanski added that Bush is more than welcome to reapply in the future, should his credit profile improve.