Rick Santorum Took Multiple Mortgages on $2 Million Estate

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Rick Santorum houseA search of land records for the $2 million Great Falls, Va., home of Republican presidential candidate and former Pennsylvania Sen. Rick Santorum turns up a series of mortgages that at times equaled and exceeded the sales price of the property.

The industry guideline is that usually mortgages should not exceed 75 percent of the appraised value of a property, according to mortgage experts. The assessed value of Santorum's Great Falls home, which is set by Fairfax County, has fallen since Santorum bought it in 2007.

Property values have fallen throughout the Virginia county -- even in the wealthiest communities of McLean and Great Falls -- because of the recession.

Read the full story on the McLean Patch

Also see:
Mitt Romney's 'White House North' Could Spur Local Economy

Rick Perry's Real Estate Deals in the Crosshairs

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