Presidential Campaign Sets Off Probe into Marco Rubio's Finances | MyCentralOregon.com

Lorenzo Bevilaqua/ABC News(MIAMI) — Presidential hopeful Marco Rubio has seen his personal finances come under scrutiny as he continues his campaign for the White House. On Tuesday, The New York Times published a detailed examination of the finances of Rubio and his wife, Jeannette Dousbedes, who live with their four children in West Miami.

The story included a rundown of some of Rubio’s most recent financial transactions, including liquidating a retirement account, payments from a book deal, the purchase of a boat and the lease of a luxury car. The newspaper also detailed some of his real estate dealings, including the purchase of a West Miami home in 2005.

ABC’s George Stephanopoulos interviewed Rubio on the day of his presidential announcement in April, getting a rare inside glimpse of the home.

Here’s what The Times reported:

Within a few years, Mr. Rubio had landed a job at a high-profile Miami law firm paying him $300,000 a year. As he would later do with the proceeds from his book, Mr. Rubio spent heavily.

First, he bought a house in Tallahassee with another state lawmaker for $135,000, again putting no money down.

Then, by the end of 2005, the Rubios completed the purchase of a new home, twice the size of their previous one, for $550,000. The house, among the more expensive in West Miami, stood out from the aging homes nearby: It includes an in-ground pool, a handsome brick driveway, meticulously manicured shrubs and oversize windows.

Within a few weeks of the home purchase, Mr. Rubio, then a Republican leader in the House, borrowed $135,000 through a home equity line to pay for improvements to the house, from a politically connected Miami-based bank, U.S. Century, after the house was reappraised at $735,000.

Responding to The Times story, Rubio spokesman Alex Conant said: “Getting rich is not what has driven Senator Rubio’s financial decisions. His goal at this stage in his life is to provide his four children with a good home, a quality education, and a safe and happy upbringing.”