By Steven Robinson
Recently US Senate candidate Jim Deakin’s home went into foreclosure. Anyone aware of our nation’s tremendous financial problems can understand and even sympathize with Jim’s financial plight. No one wants to see anyone go through that painful process. However, in this case you must take a closer look to understand, that IN SPITE of his ‘conservative rhetoric”, Jim Deakin spends money just like the US government he is so fond of criticizing. That is to say, he borrows with the “promise to pay in the future” SO he can spend it today!! In this case, Jim does it with government underwritten loans. You only have to look at the public records to discover Jim and Adonia Deakin’s spendthrift habits.
Many people who obtain loans do so with the intent to pay down the mortgage and in time, own the home free and clear. Their goal is to have a home that is debt-free, with no monthly payment. In theory the federal government would ALSO operate this way, keeping the debt in check, allowing for some valid reasons to borrow, such as war. However, we know that our federal government has borrowed so much money over the last 40 years to finance outrageous spending, guaranteeing re-election by ‘buying’ support of the voters and the companies to whom they dole out this money. (The Taxpayers future earnings)
So let’s get back to Mr. Deakin. As Jim has stated, he bought his current residence in 1995. He paid, $148,659 with a VA loan for just over $141K, was for a very nice home in North Phoenix. Unfortunately Jim endured a divorce and he refinanced the home into his name. The new loan for $164,400 closed in August 1999, borrowing $25,000 more equity, perhaps used to buy out his ex-wife. Nothing unusual with this loan.
In 2001, Jim married Adonia, and just one year later, in August 2002, Jim and Adonia obtained a $20,000 Home Equity loan (HELOC) in both their names. Again, there is nothing unusual about this loan; people have used their equity for a variety of purposes. There is one interesting note: Adonia’s home on East Sequoia Drive was paid off two months later. We don’t know whether these funds were used to pay off Adonia’s loan, just that the loan was paid off. More on that later.
However, less than 18 months later, in January 2004, Jim again refinanced, borrowed an ADDITIONAL $32,000 more, with a $216,000 loan. More significant about this loan is that Jim obtained financing as a “Single man, his sole and separate property”! NOW the financing activities are getting curious; after all, isn’t Jim married!?
Then, in May, Jim obtained another equity loan (HELOC), THIS time for $54,000, and again as “his sole and separate property”. Weren’t Jim and Adonia married? It’s Confusing, to be sure. Yet the critical point is that again, Jim is borrowing on his ‘future ability to pay’; and with another $54K to spend.
In May 2005 Adonia sells the home on East Sequoia Drive, she had originally purchased in 1997, and had refinanced in 2000. This is the loan that was paid off in 2002. So, when the home sold, a very nice home at that, Adonia cleared over $100,000 at the sale, perhaps more.
Then, in June 2007, Jim and now Adonia, refinanced again! This time the loan is a WHOPPING $376,000!! After paying off the existing liens, Jim borrowed an additional $106,000! Again, it’s based on Jim’s ‘future ability to pay’.
So here is the situation, In FIVE short years, beginning in August 2002 through June 2007, Jim and Adonia borrowed an total of additional $212,000. Furthermore they received another $100K from the sale of Adonia’s original home. NOW, after MORE THAN DOUBLING the mortgage loan balance, Jim Deakin NOW tells us HE and Adonia are “upside down” in their mortgage!? Well no wonder! They’ve spent over $300,000 in FIVE short years; by borrowing most of these funds, based on Jim’s ‘future ability to pay’! This is a 130% increase in his debt over five years. When you contrast this with the National Debt over the same time period, the is ONLY a 10% increase! Yet Deakin wants to lecture the Congressman about spending? I guess Jim knows how to better manage our country’s finances.
Yet, JUST WHO does Jim Deakin blame for HIS financial difficulties? In his first press release to Fox10 here is what Jim says: “Small businesses have been struggling because of the burdensome taxation and regulation implemented by both of my opponents.” What? How did taxation and regulation cause Jim to borrow and spend so much? He then says, “HUD amendments enacted by my opponents and the repeal of the Glass-Steagall Act allows greedy bankers to create the derivatives market resulting in the crisis we have all experienced since 2008.” SO THE ‘GREEDY BANKERS’ made him do it!?
No, Mr. Deakin looks for sympathy as he seeks to walk away from his obligations. His home is in foreclosure, NOT because of the economy; BUT due to his irresponsible borrowing!
One thing is for certain; Jim understands and shares the Democrats’ HUGE appetite for debt! Clearly he borrows and spends money like, well like “like a drunken sailor”; or rather “like a drunken Congress” to coin a phrase! IS ANYONE beginning to question Jim Deakin’s claims of being conservative?
This begs the question; will Jim Deakin add insult to injury and avail himself of Obama’s government programs to get “Free Money” with subsidized interest and a lower monthly payments, defer part of the principle balance, partial loan forgiveness, or some other taxpayer subsidy? Is this what Deakin means when he calls himself an “individualist”? Is THIS why Jim let his mortgage get so far behind in the first place? Does the term “Huckster” come to mind? ‘Inquiring minds’ want to know.
Wow! Impressive! Steve does math! Beyond that, none of it means anything.
Since it is important to you thought, how long before you do a reverse entry posting because the note has been brought current and there is no foreclosure?
Wow…have you considered decaf? Don’t you see how silly you sound and how this constant barrage is getting soooo old?
One might think you are secretly working for McCain since you are so off-putting with your Deakin fatigue syndrome.
J.D. used taxpayer money to pay for his stomach stapling. Next time buy a treadmill huckster!!!
Stephan what are you smoking, once in forclosure it cannot be made current the whole balance is due so then you say Deakin paid off the full 376,000?
or are you still in denial about this also why is the forclosure document still on the recorders office? http://156.42.40.50/UnOfficialDocs/pdf/20100647095.pdf
and your bold claims are not supported by any paperwork as opposed to official forclosure document still on file at the recorders office
Nothing get unrecorded. It’ll be there forever.
@ former Deakin supporter:
Get a life moron: ARS 33-743. Notice of election to forfeit and reinstatement of purchaser’s interest.
Robinson, Your Tea Party endorsement of Hayworth, #10 on the list – are you a 527 PAC?
McCain doesn’t listen.
Hayworth has too much baggage.
Deakin the Citizen Candidate wins.
Jimmy Lee Deakin Jr. U.S. Senate Arizona
http://www.jimdeakin.com
http://www.youtube.com/watch?v=AiNhX2fxDHs&feature=youtu.be&a
Stephen and Joe will go down with the failed ship of deakin. Deakin has tried to pull off a mortgage scam but time ran out before the election. He has fooled some of his supporters but not all.
Thanks RAP for that post, I am sending this to all Tea Parties so they can distribute it to their members in case any supporters remain in their ranks.
A vote for Deakin is a vote for Mccain.
VOTE JD HAYWORTH A TRUE CONSISTANT CONSERVATIVE!!!!!!!!!!!!
What’s going to be fun is when Shane, DSW and four more, Hayworth’s Director of Field Operations and owner of the Sonoran Alliance, a pro Hayworth paid for site starts deleting and censoring our comments – so much for free speech. Copy everything off people – we have interfaced fair and by the rules everywhere else now can they do the same???????????????????
Deakins home is still in active forclosure the Bank has not filed paperwork showing the loan is re-instated until the bank files these papers and are recorded the house is still in forclosure , all you Deakin minions are so foolish , wish we knew what Deakin did with all that money he borrowed, I find it impossible to trust a Senator who can’t manage his own money, let alone with this on his record he wouldnt pass security clearance to sit on certain commities thats not the kind of represention the people deserve, Deakin will lose regardless of you Deakinites trolling the blogs. I signed his petition and now regret doing so. I should have done more research on this Phoney.
Great research Steve! There is nothing “conservative” in that financial history.
The primary can’t be over soon enough. I feel like I have entered the Twilight Zone.
……………..
JPD Says:
August 5th, 2010 at 4:19 pm
What’s going to be fun is when Shane, DSW and four more, Hayworth’s Director of Field Operations and owner of the Sonoran Alliance, a pro Hayworth paid for site starts deleting and censoring our comments – so much for free speech.
………
The martyr whine about a ridiculous hypothetical being “censored” off a private citizen’s blog. A citizen whose blog long predates the primary and who has stated on the record on this blog NUMEROUS times he is currently working on the Hayworth campaign.
Never SEEN such whiny entitlement parasites.
How much money does DSW have to put out to keep this active, and bet you’d flee if you had to PAY even a $1.00 a month to access the blog – but not before whinging and sneering about “rights” first.
DSW has FAR more patience than I do for this sort of nonsense.
…………………….
“IS ANYONE beginning to question Jim Deakin’s claims of being conservative..?”
…………….
You betcha. AS you highlighted – this excuse for his financial troubles:
“HUD amendments enacted by my opponents and the repeal of the Glass-Steagall Act allows greedy bankers to create the derivatives market resulting in the crisis we have all experienced since 2008.”
Thought it was NANCY PELOSI’s quote.
Democrat Party class-envy, redistributionist drivel. Something a genuine Conservative wouldn’t be caught dead uttering.
Deakin is getting old, he is down to less than 5 supporters, JPD who is Joe hiding and slivering around like a slimy worm, Stephen kohut who has argued with many over Deakin, geting Steven Robinson taken off resistnet and trying to tell all he never endorsed Deakin. These people who want their citizen candidate please get one who is at least honest. Please get one who is not hired by the oposition candidate to be a spoiler and take votes from the true consistant conservative, Oh who may that true conservative be, why JD Hayworth of course.
A VOTE FOR DEAKIN IS A VOTE FOR MCCAIN.
PLEASE VOTE FOR JD HAYWORTH HE WILL SERVE US PROUD AND NEVER NEVER VOTE LIKE A DIMocRAT.
What is truly amazing is that the more all the JD sychophants spend on beating on Deakin the worse JD does in primary polling and the worse his favorable/unfavorable ratio gets. You would thing folks could recognize a losing game plan and make some type of adjustment because it sure ain’t workin’.
StephenK you can only dream. If JD loses it will be to your failed candidates spoiler conspiracy with John McCain. Jimmy will not get elected dog catcher, but we will be watching very close what happens next.
If Deakin is down to less than five supporters then why you so worried about him?
CharlotteW,
I’d love to hear how I got Steven Robinson booted from Resistnet since I’m just a member there and that decision was made by those with admin authority. Steven, along with his cabal of ranting JD sychophants, got booted from a lot of sites with stricter policies due to their posts. They broke those sites rules and they paid the price. What a thought, logical consequences for unacceptable behaviour.
I take politcs very serious and play it very clean. You don’t like my positions or who I endorse, that’s fine with me. I’m not losing any sleep over it. I’ve got too much to do to GOTV for the primary to worry about what the SA bloggers think about me.
Joseph Peter Danielek, (JPD) you show your lack of decency by name-calling and lying, see below:
JPDSays:
August 5th, 2010 at 3:59 pm e
“@ former Deakin supporter:
“Get a life moron”
JPD Says:
August 5th, 2010 at 4:19 pm e
“What’s going to be fun is when Shane, DSW and four more, Hayworth’s Director of Field Operations and owner of the Sonoran Alliance, a pro Hayworth paid for site starts deleting and censoring our comments”
Here and in your many posts on local Tea Party sites you deliberately make false claims that, unless YOU ARE A MORON, you would know to be false. SO the ONLY alternative is you are deliberately lying. You’ve posted comments here under other people’s names or blog names to cause it to appear that the other person is making the outrageous statements! That kind of conduct is despicable. It shows your character Mr. Danielek.
You’ve also threatened those who challenge you and refuse to let you get away with your unsavory behavior. With your extensive background in computer programming, you certainly have the capacity to wreak havoc on unsuspecting computers and/or websites. Take care in regards to your actions and threats. There are consequences (legal) for actions or words that constitute ‘tortious acts”
Both John McCain and John Hayworth have taken millions from out of state donors, millions from unions, insurance companies, financial firms, lawyers, but neither has contributed a dime of their own money to their campaigns. So they both seem to feel it’s OK to owe favors to out of state interests and unions, but to contribute zero dollars to your own campaign.
The Founders pledged their lives, fortunes, and sacred honor to their cause.
Both Deakin and McCain have pledged their lives with military service. Deakin has contributed to his own campaign, unlike McCain or Hayworth.
As for sacred honor, both of the professionals have sold out to special interests repeatedly, and JD even sold out his conservative values to tout the spending of “hundreds of millions” of taxpayer money doing a Billy Mays impersonation.
Stephen Kohut said earlier, at August 5th, 2010 at 1:06 PM, “Wow! Impressive! Steve does math! Beyond that, none of it means anything.
“Since it is important to you thought(sic), how long before you do a reverse entry posting because the note has been brought current and there is no foreclosure?”
Mr. Kohut, Would the parents of Casa Grande students want such a juvenile talking person on their school board? I wonder if they’d love to see you defending that kind of financial mismanagement in the school district!
First, There would be NO reverse entry posting because the issue here is NOT that he was in foreclosure, but rather, his spendthrift habits of borrowing from the future (his children’s!) to have his lavish lifestyle. What kind of fiscal discipline is that? So yes, ALL of it MEANS EVERYTHING!
So, claiming to be a “fiscally prudent” candidate while allowing his OWN home to go into foreclosure, smacks of utter hypocrisy! Further, for Deakin to claim he is “under water” in his mortgage loan due to the economy, WHILE He increased his DEBT to 230% of the post-divorce loan amount, shows either a lack of personal integrity or worse yet, deliberate deception.
HERE’S some really serious questions that you won’t answer: IF Jim did indeed catch the mortgage current, along with the legal fees, etc., WHERE did Deakin get the money? Who GAVE or LOANED it to him? IF he HAD the money, and was hoarding it, WHY didn’t he simply fulfill his contractual obligation to make the payments on time!? If his creditors can’t trust him, WHY SHOULD THE VOTERS??? Was he possibly planning use his hoarded money to get into another, cheaper home, with the market prices so low, and LEAVE THE TAXPAYERS STUCK WITH THE BILL?
Again, inquiring mings want to know!
Steven Robinson AKA RAP,
Yes inquiring mings(sic) everywhere want to know. I see that I’m not the only one who finds blogging without spell check a challenge then you type hunt and peck style.
“issue here is NOT that he was in foreclosure, but rather, his spendthrift habits of borrowing from the future (his children’s!) to have his lavish lifestyle.”
Wow! The first thing that you and the rabble posted everywhere and anywhere was foreclosure, foreclosure, foreclosure … Either that didn’t get you guys the bang for the buck you wanted or people let the hot air out of that trial balloon because now it’s mismanagement, mismanagement, management, ….
You do have Jim’s personal net worth and cash flow statements as well as his business general ledger accounts in hand to make those claims, right? If not, then you really have no idea at all and this is just another round of find something, anything and pray it sticks. Having been around in the world for a while it is very easy to make all sorts of assumptions from the outside and have not a one of them be correct. That wouldn’t be the case again, would it? Unlike you, Steven, I make no assumptions and will not attempt to read the tea leaves of a person’s or a business’ finances from the outside. It doesn’t work. Without access to financial records everything is speculation.
No matter what the case, none of it is relevant at all. I’ve done a lot of industrial construction management, done design/build on first-of-a-kind plants, built my own home, etc. and have a lot of contacts in construction. I’ve watched a lot of good people and good companies in that industry go under through no fault of their own because it is the hardest hit of all the economic sectors. I watched a former general I used go from doing >$200M a year in contacts to having 5 people left in the company. Anyone in construction that has managed to stay in business with the lights on is doing very well. Jim is in construction. The fact that he is still in business screams success and not failure. Get a clue on how things are out in the real world.
Hello Stephen, First things, If you have the google tool bar or google tool-check you can use spell check, for me it’s more of a fumble fingers matter. Second, the designation “(sic)”, which is a Latin term is exclusively used when you quote someone and to preserve accuracy quote their misspelling. You quoted me without the quotation marks. Just trying to be helpful to you!:-)
Second, You used an exclamation point with “Wow!”, impressive! I didn’t know you believed in them. Unfortunately, I really believed you were above Mr. Danielek’s juvenile antics including name-calling, when you write, “…you and the rabble posted everywhere…” in discussing those who vehemently disagree with Jim’s dishonest and deceit-filled campaign.
Third, BOTH the mismanagement and going into foreclosure are VERY RELEVANT for someone who claims to be an ‘ordinary citizen’. He attacks JD Hayworth as a ‘pork-spender’(falsely, in fact!) yet cannot show self-control in his own borrowing and management habits. I’m reminded of Jesus’ warning about going into ‘war’ (Politics, for sure!) without ‘counting the the cost’. Or constructing a building, and leaving it half-finished and it becomes a ‘monument’ to your foolishness.
IF Jim really was planning to run a campaign to win, he was REALLY PATHETIC AND INCOMPETENT!!! It’s a monument to his complete incompetence and utter stupidity! HOWEVER, I do NOT believe Jim Deakin is stupid! His success in his business and previously at Tyco, Int’l proves me right.
IF HOWEVER, Jim had no such intentions, but really was trying to be a spoiler on behalf of McCain, THEN he’s done EXACTLY as planned! Don’t invest any of his money, just time, etc. Make sure he received ‘compensation’ for his efforts (Payoffs) and sit back and smile! He had no real political ambitions, and has said he won’t run again. No, I’m quite certain that he planned this, with McCain’s henchmen no doubt, quite well.
If you are a real patriot as you claim and not a McCain sycophant (McCain’s people are VERY happy with Deakin’s campaign!), then you are utterly blinded by your loyalty! Jim could be a axe-murdering serial killer and you would defend him!! I don’t think you are that stupid, Stephen. I won’t comment on your integrity, though.
What sad choices!!– McCain the turncoat who you can never depend on; Deakin the financial coniver or Hayworth the pork Barrel feeder!