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 ...
He needed to pay for Hunter’s habit.
He can pay it back in hyperinflated $$$$.
They have TWO MANSIONS!!! Biden bought a DUPONT MANSION when he was a simple Senator.......HOW THE HELL DID HE AFFORD THAT???n hmmmmmm.
Is this a way for Big Guy to launder money?
I suspect this is just a pay-to-play scheme by someone to funnel money to Biden in exchange for ... favors.
Like Mrs. Bill Clinton turned $1,000 into $100,000 in about 6 months in the cattle futures market years ago. Someone paid for favors.
Who did they “borrow” the money from and are they actually paying it back?
its an ironic microcosm of why the USA needs to be at war with the world to continue to support its house-of-cards debt habit.
Won’t the Secret Service spend money fixing up a president’s home security wise?
Electrical improvements, lodging improvements for agents, walls, gates, maybe landscaping changes, perhaps structural improvements like bullet proof windows and such?
Dead wife’s insurance money.
Is that TRUE?
Just speculating.
Powerful Democrats have many hidden talents, great real estate talents, wonderful stock market instincts, some sort of strange democrat creative bent that wins their presidents and first ladies accumulations of Emmys, Oscars, book awards, TV awards, Nobel Prizes, Golden Globes, and all types of such awards.
Sounds completely sketchy to me. Aside from the sheer hassle factor, the transaction costs on a refinance, while not huge, would add up fast. At a minimum, this suggests a collusive arrangement with the appraisers and lenders.
I don’t know the local market, but it looks like a very nice house in a very good neighborhood. The property value increase over a couple of decades does not set off any alarms in my mind. (We bought our humble abode, a standard rowhouse on Capitol Hill in DC, back in Marion Barry days. We’ve lived through the DC gentrification miracle, and our house has appreciated more than Biden’s.) But I can’t imagine that there weren’t easier and cheaper ways to get fast cash.
The thought that comes to mind is that Biden was using the cash to cover activities that he wanted to conceal. Given that he has to report loans on his financial disclosure statements, perhaps hiding quick transactions in a mortgage refinance offers a bit of camouflage.
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%.
Exactly. This is what they do to show payments as loans.
This is what the notes on the checks to Biden's brother kept using- Loan Repayment.
...to buy someone's silence ?
They've surely got lots of "stuff" to cover-up. Delaware has long been the state into which to incorporate. I smell something rotten and the long-time senator has his nose in it, one would assume.
You need almost a full point drop to make refinancing worth while. Unless, rates drop so fast that you just refinance with the same lander. Who may not require some of the same closing costs and title searches.
I just counted. I have owned three different houses since 1900. I have had five mortgages. First one was 10.375%. Refinanced that to 6.75% no points. Sold that house. bought the next at 6.375%. Refinanced to 3.75%. Sold that house. Bought next @ 2.375% for 15 years. Paid it off a couple years ago.
There is a recap of the lenders and amounts at the end of the article. I assume DE banks were anxious to get his business and they probably set up large competition to service Biden.
I remember a story from years ago and was going to post what I remembered. Instead, I looked it up and this is what I found - I’ll have to go back and find a link..when I copied the excerpt, I thought it WAS the link at the end...
*****”A couple of years into his Senate career, Biden had a dream of living grandly by buying on the cheap a former
du Pont manse, together with a huge chunk of land, for $200,000. The house was boarded up and soon, probably, to be torn down. But Biden saw something in it. Sure, it needed some fixing up. Never fear, Joe is here! Joe is a can-do fellow.
The first winter he and Jill spent in the house, it used up 3,000 gallons of fuel oil. It turned out the third floor was wide open, to the stars. Squirrels were living up there. Oops. The judgment on display here is not great. Next year, Biden starting selling off bits of the land for development to pay for improvements such as storm windows.
Small problem here: One of the lots he sold off was his own driveway, and the new owner blocked it off so he couldn’t pass through it. So Joe built a second driveway, which turned into a swamp in winter. He sold off another piece of property that, it turned out, included the front of that second driveway, so he couldn’t use that one anymore either. So I built a third. He hated that one for being a dumpy little thing. Eight years went by, and he made a deal to buy back the original driveway, the one he sold off when he first bought the house. Which cost him a fortune in landscaping to reshape.”
It’s worth the time to click over and read the whole thing.””*****
The link to the excerpt I posted:
https://www.diogenesmiddlefinger.com/2021/01/the-guy-who-once-sold-his-own-driveway.html
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