(Ken Silva, Headline USA) They say corruption pays. But in the case of President Joe Biden, it apparently didn’t pay him enough to prevent him from borrowing a whopping $4.2 million on a house he bought for $350,000.
According to a Monday report from the Daily Mail, Biden refinanced his two Delaware homes 35 since 1975.
“Over the decades the Bidens have borrowed a total of $6million on both properties – and there’s still an outstanding $541,000 mortgage on their current three-bed, 4.5-bath Wilmington mansion nearly three decades after they bought it,” the Daily Mail said.
“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.”
Citing mortgage documents, the Daily Mail said President Biden and First Lady Jill Biden purchased their current four-acre lot for $350,000 in March 1996. They have reportedly saddled it with 20 different home credit agreements and mortgages totaling $4.23million.
“Their previous five-bed, 2.5-bath home in the same town was purchased for $185,000 in 1975 – and sold controversially for $1.2million in 1996. Records show the property had a total of 15 mortgages and lines of credit attached to it,” the Daily Mail added.
The news that the Bidens use their homes as personal ATMs follows a nearly 18-monthlong investigation by the House Oversight Committee into his family’s finances.
In May, the Oversight Committee released records revealing that more than 20 companies, 12 banks and nine Biden relatives were used in an alleged complex money-laundering scheme.
Perhaps the most shocking revelation from the May records was that one of Biden’s grandchildren was allegedly used in this scheme.
Sen. Chuck Grassley, R-Iowa, has also revealed that the FBI was likely aware of this scheme for years before the 2020 election.
According to Grassley, more than 40 FBI informants “provided criminal information to the FBI relating to Joe Biden, James Biden, and Hunter Biden.” The informants were managed by FBI field offices throughout the country, including in Seattle.
Ken Silva is a staff writer at Headline USA. Follow him at twitter.com/jd_cashless.
