Posted on 06/24/2024 8:13:31 AM PDT by artichokegrower
Joe Biden and First Lady Jill have been using their homes as an ATM, taking out multiple mortgages and refinancing their Delaware properties an astonishing 35 times, a DailyMail.com investigation has revealed.
The president has lived in two houses in his home state since 1975, when he bought his first property in Wilmington that he later sold in the late 1990s.
But records obtained by DailyMail.com show the couple have had a habit of negotiating a new mortgage or credit deal on both homes every 17 months
(Excerpt) Read more at dailymail.co.uk ...
Only one conclusion one can draw from this - the guy isn’t exactly a genius when it comes to anything financial - OR anything else for that matter!!!! How he fooled so many people for so many years is anyone’s guess.
BTW, as if they ever had to make a payment, what is the mortgage payment on $4million?
Trump tells us time and time again, the news is fake news (90% or more). We've known this, or should know this, ever since Dan Blather's gem, "fake but accurate".
The bidEn's are NOT millionaires, they are Billionaires. Any news item on their finances would of course try to continue the fake narrative, MINIMIZING their ill-gained wealth.
Someone paid for favors.
Pelosi smiling too
That seems the most likely answer. Most of these seem to be lines of credit (HELOC), where he was borrowing large sums of money and almost immediately paying it back. Had anyone else done this, it would have attracted the attention of the IRS, FBI, etc.
There is absolutely no way of telling how much Joe and his counterparts in Washington & elsewhere have squirreled away unreported and off-shore. I’ll bet the intelligence services know, and use it to coerce certain actions from the crooks. Money corrupts everything it touches, and the bigger the money the greater the degree of corruption.
And you know they got each one of these mortgages and lines of credit rubberstamped.
Who did they “borrow” the money from and are they actually paying it back?
I believe these refinances and lines of credit have been since 1996
.....the transaction costs on a refinance, while not huge, would add up fast.
At a minimum, the Biden finagling suggests a collusive arrangement with appraisers and lenders.
And appears to be a handy Biden flim-flam......to hide the flow of illegal money in his possession.
‘I don’t understand why anyone would view their home as an ATM. Constantly pulling money out of your home,’ he told DailyMail.com.
Exactly.
A loan that is not paid back is a gift. A tax free gift.
The “lender” was seeing that the Biden Crime Family got their regular dumps of cash. I’d like to see the pay-back records. My guess is that they’re fairly simple....as in nothing.
In 1974, Joe Biden bought a dilapidated mansion for $185,000 that once belonged to the famous Delaware du Pont family.
He fixed it up and, 22 years later, in 1996, he sold it it for $1.2 million.
Hmmm, might bank records shine some light?
Question is:
Did they overvalue it on the loan app?
If Mar A Lago is only worth 18 million, Joe’s shack is probably around $55,000. How much did they inflate it?
“no one is above the law” Lol!
“They have TWO MANSIONS!!! Biden bought a DUPONT MANSION when he was a simple Senator.......HOW THE HELL DID HE AFFORD THAT???n hmmmmmm.”
Joey has always been the lapdog for DuPont.
Joe graduated close to the bottom of his law school class at Syracuse University. I believe he was number 75 out of 82. Not quiet the bottom, but close.
What he is really good at is lying and fabricating stores. At least he WAS.
“ Most likely chasing lower interest rates.
After Reagan crushed inflation in 1981-1982, interest rates declined for almost 40 years.
The US 10 Year Treasury Bond was 16% in 1982.
In 2020 - it was 0.65%.”
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But there are a multitude of fees connected up with every single refinancing. Even if interest rates go down 2%, it is a coin toss as to whether that will make sense over the next 5 to 7 years. If rates went from 16% down to approximately zero, that would indicate a maximum of eight refinancings, none of which would’ve had the requisite 5 to 7 year breakeven period. Something is very suspicious about this, and when it involves someone as obviously corrupt as Biden, it is a guarantee that something else was going on.
The Dupont mansion was a dump when he bought it. The land was worth more than the house. A developer would have torn the house down and subdivided up the land. Biden did sell off multiple lots from it to pay for the rehab. So, like always there is a little more to the story. It is still extremely fishy how many times they refinanced.
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