How Kamala Harris and Doug Emhoff took out ten loans totaling $13million on their LA and DC properties - from bank she prosecuted for BILLIONS

UK Daily Mail ^ | 08/14/2024 | Chris White

[DFG]

Presidential hopeful Kamala Harris and her husband Doug Emhoff have refinanced their luxury properties on the east and west coast ten times with loans totaling $13M.

The second couple, both 59, have borrowed way in excess of what they’re worth – their joint fortune estimated at $8 million by Forbes.

And, surprisingly, their various home loans and lines of credit are all with Wells Fargo Bank, the lending giant Kamala battled when she was Attorney General of California.

Harris was in litigation for years with Wells Fargo just as she and Emhoff were living in a luxury property in the Los Angeles celeb enclave of Brentwood, propped up by the bank's millions.

The Democrat presidential hopeful helped build her legacy as California’s Attorney General who 'beat the big banks’.

In February 2012 after the financial crash, Harris won $18 billion in compensation for Californian homeowners facing foreclosure, who she claimed were the victims of predatory lending.

She negotiated with five large lenders – Wells Fargo, JPMorgan Chase, Bank of America, Citigroup and Ally Financial – to stump up the cash.

Along with five county district attorneys, she also successfully sued Wells Fargo in 2016 for $8.5M over privacy violations including recording consumer’s phone calls without the correct consent.

So it is perhaps surprising that she should use the same bank to finance her homes.

Situated just a stone’s throw from the likes of Gwyneth Paltrow and LeBron James, Kamala and her husband have borrowed heavily on the $7 million Brentwood property for over a decade.

Entertainment lawyer Emhoff initially bought the swish pad for $2.7M in June 2012 and immediately saddled it with a $2M mortgage with an initial interest rate of 2.5 per cent – and was handed a separate $160k line of credit.

[Lizavetta]

The way I understood it the Bidens would take equity (cash) out of their home and then "someone" would put that amount back in. And they'd do it over and over and over.

But this scheme only works if your home is increasing in value, right?

[SomeCallMeTim]

How is this even possible ?

[griswold3]

Biden refi’d 20 times. After all he is in Delaware right ?

[bray]

They are both lawyers and know how to do it “legally”. Bet there are some interesting deposits.

[CaptainK]

No way they are worth only $8 million. It has to be more.

[piasa]

Those “homeowners” in California whom Kamala went to bat for... weren’t just ordinary homeowners who actually lived in their homes as I recall- weren’t they mostly high risk loans to illegals and house flippers who had been given loans by Golden West financial, which was owned by 2 Democrat donors- the Sanders, and then these bad loans were sold off to Countrywide and Wells Fargo?

[minnesota_bound]

Biden had 36 mortgages for 2 homes.
It is a way to launder money.

[minnesota_bound]

Correction, it was 35 mortgages.

Here is one way Joe Biden is laundering money.
He has never made enough to own his homes to begin with except thru bribes.

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

POTUS and first lady refinanced their two homes 35 times over the years
Current Wilmington house has outstanding $541k loan 28 years after purchase
https://www.dailymail.co.uk/news/article-13547165/Joe-Jill-Biden-Wilmington-Delaware-home-refinance-mortgage.html

[Svartalfiar]

Presidential hopeful Kamala Harris and her husband Doug Emhoff have refinanced their luxury properties on the east and west coast ten times with loans totaling $13M.

So each refinance, on average, was $1.3MM. I mean that is a lot of refinancing, but so?