Word: loaned
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Dates: during 1990-1999
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...Bill and Hillary, be jointly and severally liable for the mortgage. The terms were easily enough satisfied. McDougal and Bill Clinton simply borrowed the down payment from another bank, Union National Bank of Little Rock, where McDougal had been borrowing since 1970. The bank sought no security for the loan...
...McDougals and Clintons didn't tell Citizens Bank that they were borrowing the down payment. The Clintons agreed to cosign the mortgage and appear at the closing. The risk seemed minimal given the speed with which McDougal expected to resell the property and pay off the mortgage. The loan would be short-term--principal and interest due in six months--and the interest rate would...
...sale, one of the lots bordering the river, in September 1979. Within six months, they'd sold five more lots. But the down payments on the lot sales barely covered Wade's real estate commissions and the closing costs. At the end of May 1980, with the Citizens Bank loan up for renewal and the next quarterly interest payment of $4,352 due, Whitewater Development Co. had less than $2,000 in cash. By this point, the McDougals had invested nearly twice as much as the Clintons...
...partnership with several others, he bought a bank in Kingston and rechristened it Madison Bank & Trust Co. Without telling the Clintons, he took out yet another loan in his own name to retire the $20,000 Union Bank loan that he and Bill had borrowed to make the Whitewater down payment. In late summer of 1980, however, the actual mortgage from Citizens Bank had to be retired or refinanced, and the bank insisted that McDougal and Clinton pay down 10% of the outstanding principal and agree to a regular repayment schedule to retire the principal. The Clintons paid...
McDougal was happy to get an infusion of cash, nearly all of which was used to pay down the outstanding principal of the Citizens Bank loan. Then, to replace the advance he'd made to finance the construction of the modular home, McDougal arranged for Hillary to borrow $30,000 from Madison Bank and take title to the property. The loan would be repaid, he assured her, using proceeds from the sale of the house. She agreed, and henceforth the modular home on Lot 13 became known as the Hillary house...