Posted on 06/24/2024 8:13:31 AM PDT by artichokegrower
I have one sister who has a 2nd mortgage and another with 3 mortgages. I thought that was a lot.
Does anyone in the USA have as many as Biden?
_______________________
FTA: The first couple released their tax returns in April and revealed their combined income was $619,976 last year and they paid $146,629 in federal taxes.
That is a very low tax rate. I paid a lot more in percent and made far less.
dailymail.com———Bidens Mortgaged To The Hilt
The Bidens bought the Wilmington house for $350,000 in March 1996
1. 21 Jul 1997 - Beneficial National Bank - $400,000 [PAID - 20 Nov 1997, construction mortgage]
2. 20 Oct 1997 - Beneficial National Bank - $499,900 [PAID - 26 Feb 1998, construction mortgage]
3. 24 Nov 1997 - Beneficial National Bank - $134,070.27 [PAID - 8 Jul 1999]
4. 27 Feb 1998 - Chase Manhattan Mortgage Corp - $550,000 [PAID - 25 Aug 2003]
5. 6 May 1998 - Beneficial National Bank - $94,450.04 [PAID - 11 Oct 2002]
6. 16 Jul 1999 - Commerce Bank - $35,000
[PAID - 6 Nov 2000, line of credit]
7. 18 Sep 2000 - Commerce Bank - $80,000 [PAID - 31 Jan 2003, line of credit]
8. 18 Oct 2002 - Commerce Bank - $143,600 [PAID - 18 Sep 2003]
9. 11 Jan 2003 - Commerce Bank - $20,000 [PAID - 17 Oct 2003, line of credit, then extended to $30,000 on 7 Jun 2003]
10. 5 Aug 2003 - Wilmington Savings Fund Society - $649,000 [PAID 3 Apr 2013, balloon rider attached, mortgage modified on 20 Jul 2010 to $564,442.91]
11. 5 Aug 2003 - Wilmington Savings Fund Society - $99,000 [PAID - 31 Mar 2005, line of credit]
12. 11 Feb 2005 - Wilmington Savings Fund Society - $149,000 [PAID - 3 Apr 2013, line of credit]
13. 3 Mar 2010 - Wilmington Savings Fund Society - $10,000 [PAID - 11 Jul 2011, line of credit]
14. 10 Jun 2011 - Wilmington Savings Fund Society - $45,000 [PAID - 6 Feb 2012, line of credit]
15. 4 Jan 2012 - Wilmington Savings Fund Society - $95,000 [PAID - 17 Aug 2012, line of credit]
16. 16 Jul 2012 - Wilmington Savings Fund Society - $115,000 [PAID - 3 Apr 2013, line of credit]
17. 28 Jan 2013 - TD Bank - $541,150
OUTSTANDING
18. 28 Jan 2013 - TD Bank - $260,000 [PAID 18 Mar 2014, line of credit]
19. 19 Feb 2014 - TD Bank - $300,000 [PAID 11 Dec 2018, line of credit]
TOTAL: $4,230,170.31 19 mortgages/lines of credit and one credit extension
dailymail.com
Excerpt——Biden, a career politician, and Jill, a college professor, are estimated to be worth around $10million, and additional financial records show the couple pulled in an income of $620,000 in 2023.
The first couple released their tax returns in April and revealed their combined income was $619,976 last year and they paid $146,629 in federal taxes.
Biden and his wife earned four-fifths of their income from their jobs: he as president and she as a teacher at Northern Virginia Community College.
Additional money came from interest on investments, pensions and a pass-through entity that collects book royalties.
But according to other govt financial forms from Joe, he has had no royalties from his two books: ‘Promises to Keep’ and ‘Promise Me, Dad’ this year.
Financial records from the Office of Government Ethics last month revealed most of the couple’s debt is the mortgage on their Delaware home and an equity loan on that property.
snip
White House stymied bipartisan support for presidential ethics bill, says top House Dem
the hill ^ | June 17, 2024 | Charles Creitz
FR Posted on 6/20/2024, 9:18:20 AM by ding_dong_daddy_from_dumas
House Oversight and Accountability Committee Chair James Comer (R-Ky.) and Rep. Katie Porter (D-Calif.) made sure to line up an equal number of lawmakers from each side of the aisle to serve as co-sponsors when they joined forces on a White House ethics bill last month.
That careful balance soon fell apart, however, after three Democrats backed out of their previous commitments to support the bill — vanishing, Porter said, after the White House reached out to her colleagues. That backing slipped away, she said, on the eve of the bill’s introduction as she was boarding a flight back to Washington, D.C.
(Excerpt) Read more at foxnews.com ...
Some say the Biden WH told 3 Dems who were sponsors at that time
to back out, to protect Biden. A Fox news article details this behind a paywall.
Who said anything about him paying the "loans" back?
Well, the Bidens probably never over-valued their properties on those loan apps to get more cash for themselves…right?
I’d look hard at the banks and loan officers approving this as money laundering.
Courtesy of Freeper Ansel 12’s brilliant insights.
Powerful Democrats have many hidden talents, usually very lucrative:
<><>great talents for real estate deals,
<><>wonderful wealth-creating stock market instincts,
<><>a knack for “being there”
<><>Democrats are always in the right place at the right time
<><>a genius for meeting the “right” people
Who knew just being a Democrat in elective office triggered these great talents?
They also have a strange “creative bent” and no matter what they dream up,
presidents and first ladies, in particular, win an impressive array of awards:
<><>Emmys and Oscars from the cut-throat entertainment biz,
<><>book awards for their heretofore unknown intellectual acuity,
<><>TV production deals, inevitably rewarded with things like Golden Globes
<><>and too numerous to mention similar types of dollar-laden awards.
Writing off the interest is one thing...
but the question is, was the money received from the loan declared at all.
You don’t get a w-4 for money received from a loan
That is very well done.
So glad you like it.....youre a great muse.
Biden secured a $250,000 line of credit on his $2.74 million Rehoboth vacation home in December as federal prosecutors ramped up their tax investigation into son Hunter, records show. Biden took out the line of credit December 5. That came about a month after his lawyer discovered classified material elsewhere..... more documents were found in Biden’s Wilmington garage.
By GEOFF EARLE, DEPUTY U.S. POLITICAL EDITOR FOR DAILYMAIL.COM, 3 February 2023
President Joe Biden took out a $250,000 line of credit on his Delaware beach house in December, it was revealed Friday, in a move that gave him the ability to tap resources as the feds began a classified documents probe.
The mortgage, a home equity line of credit, allows Biden to tap equity built up in his $2.74 million beach house in Rehoboth, Delaware. It is a family retreat that he and first lady Jill Biden purchased after he left the vice presidency.
The FBI this week searched the home as part of the special counsel’s documents investigation. No additional classified materials were found, according to a statement released by the president’s lawyer.
The loan came about a month after the Nov. 2 discovery by Biden’s lawyer of documents marked ‘classified’ at his former Penn Biden think tank office in Washington, DC. That sparked the probe now being overseen by special counsel Robert Hur.
The White House has not responded to a question about what the loan was for. Fox News obtained the loan document, which came about two weeks before additional documents marked ‘classified’ inside Biden’s Wilmington garage.
President Biden has taken out a $250,000 line of credit on his Rehoboth, Del. beach house. The line of credit comes as Biden faces a special counsel investigation into classified documents found at his Wilmington home and a former office
pic— President Biden has taken out a $250,000 line of credit on his Rehoboth, Del. beach house. The line of credit comes as Biden faces a special counsel investigation into classified documents found at his Wilmington home and a former office
Biden presumably is facing mounting legal fees amid a flurry of developments in the case, including FBI searches of at least three locations: the DC office, Wilmington, and Rehoboth.
He earns a salary of $400,000 as president, and earned $30,000 book income during his first year in office. The couple had assets worth between $1 million and $2.6 million, while owing up to $500,000 on their Wilmington residence, according to his 2022 financial disclosure.
President Biden listed having at least $700,000 in cash on his last financial disclosure. The line of credit could indicate he has burned through some of that money
Biden listed having at least $700,000 in cash on his last financial disclosure. The line of credit could indicate he has burned through some of that money Material marked classified was also discovered in the Wilmington garage where Biden keeps his classic Corvette
That form listed between $700,000 and $1.5 million in cash in various accounts (amounts must be disclosed only in broad ranges). Still, if Biden is taking out an equity loan, it is a likely indication that he has burned through considerable savings, unless they were reinvested. Other loans he listed totaled between $30,000 and $100,000.
Hunter Biden, meanwhile, is facing his own legal woes, with his own legal debts reportedly reaching into the millions. He faces a running federal tax probe and a spree of House Republican investigations, and his team this week fired off letters to the DOJ and the Delaware Attorney General seeking probes of people who may have copied or disseminated the contents of his infamous laptop.
Biden’s beach house is a place where he sometimes retreats during weekends in spring and summer, although the vast majority of his weekend getaways have been to his Wilmington home.
He has been known to go bike riding in a state park near the house, and has occasionally ventured out for ice cream. His beach house is close to downtown Rehoboth. When he was a senator, he would often attend Fourth of July beach parades at his home state’s beaches, which are a major travel destination and revenue generator for the state.
Yes, but somewhere there is a paper trail for where all of this money went IF someone in Congress actually wanted to investigate Biden. So far, no one in Congress, including Jim Jordan, wants to know where the money from these loans went, or if the loans were ever repaid.
Right......moving money leaves a trail of paperwork.
We’ve done that with our property (two houses on one lot, a residence and a rental). When rates dropped enough so the payments on the refi stayed in the same ballpark for a larger loan, we took some of the cash out to renovate, raised the rent a bit and did well. it’s not unusual or unethical to use property as a piggy bank!
I’m thinking the loans were paid by ‘parties unknown’ using cash.
Once paid, Joe and crew are all set to ‘re-fi’ the house again.
It’s a payoff using a cleaning service
unless the bank is a ‘friendly’ bank.
i’d guess the branch used was very close to the ‘biden institute’ on the u-del campus.
it’s crawling with chinese and it’d be perfect since they were prolly also picking up/ dropping off boxes for the next round of payoffs.
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