It seems awfully odd that Joe Biden would refinance his home every 17 months. He’s not doing it for better interest rates and lower payments. The way DailyMail describes it, Joe and Jill “have been using their homes as an ATM, taking out multiple mortgages and refinancing their Delaware properties an astonishing 35 times.” That’s one way to look at it. Considering that three congressional committees believe that the family’s been taking payments from several foreign countries, this could also be a great way to launder the “influence peddling” proceeds. That would explain why he paid $4.2 Million over the years, for a lot which cost $350K and a house he built from scratch.
Biden Borrows a lot
Joe Biden has borrowed a lot of money since 1975, using his home for collateral. He has no trouble at all paying the money back, which makes one wonder what it is he would need to take all those loans out for.
DailyMail exclusively broke the story and they aren’t speculating on anything. Except, to note “the constant refinancing raises the question of why the Bidens, who have a reported net worth of $10 million, needed a constant flow of extra cash.”
Joe Biden grew up in Delaware. He bought his first home in Wilmington, in 1975, and sold it in the late 1990’s. That’s when he moved on up to the “current three-bed, 4.5 bath Wilmington mansion.”
Joe and Jill Biden have been using their Delaware house for fast cash – refinancing 20 times with loans totaling $4.2M since buying the $350k home ???? https://t.co/SfD4hL9s8n
— RNC Research (@RNCResearch) June 24, 2024
Publicly available records reveal that “the Bidens have borrowed a total of $6 million on both properties.” When they sold the first property, “records show the property had a total of 15 mortgages and lines of credit attached to it.”
They paid 350K for the dirt their primary residence sits on in 1996. In 1997, they took out two construction loans totaling 899,900. Today, there is an outstanding $541,000 mortgage on the mansion.
Joe and Jill Biden also bought a six-bedroom house on Rehoboth Beach in June 2017 for $2,744,001 cash. That property has no mortgages attached to it.
Home credit agreements
As confirmed by all the documents DailyMail sorted through, the lakefront mansion has been used as collateral on 20 different home credit agreements and mortgages totaling $4.23 million.
Their reporters note the “property data suggests that the 46th president and his wife, 73, have needed money fast – and have used their homes’ equity as the main source of credit over the years.” We all know Joe Biden is a career politician and Jill a college professor. They paid taxes on an income of $620,000 in 2023.
It seems that around $7 million, of the $10 million net worth Joe Biden admits to, is tied up in real estate. His mansion property is mortgaged to the hilt. Besides loans tied to the property, the Bidens also hold “a term loan of about $15,000 and a loan against a mutual fund for about $50,000.” LA realtor Tony Mariotti observes it’s a mistake to be doing that.
What public servant needs 20+ shell companies & off shore bank accounts? Biden’s in-fact did receive millions from our foreign enemies (bank records). Biden’s didn’t pay taxes on any of it. @CNN Jake Tapper Biden wants you to ask him when he will be paying his fair share? pic.twitter.com/nS2rvV2WVy
— Star S.⭐️⭐️⭐️⭐️⭐️ (@DominguezH31015) June 24, 2024
“I don’t understand why anyone would view their home as an ATM. Constantly pulling money out of your home. I understand to some that equity can feel like dead money that’s sitting there doing nothing, but over time, mortgage fees really add up.”
There’s another little possibility to consider, which makes more sense. Money laundering always comes with stiff fees. What’s a little interest money when it allows you to spend money you can’t admit you have. Nobody at the Treasury Department will get one of those suspicious activity reports if you buy a car on a credit line loan. Nobody seems to care where the payments come from either.
When the loan company gets a wire transfer from a corporate account in a legitimate bank, there’s nothing to raise any eyebrows. Nobody needs to know that the money came in from the “effing spy chief of China” through one of those shell companies Hunter Biden set up. That’s something Congress is going to want to ask Eric Schwerin about, the next time they question him.
