Bidens use Delaware homes as ATM, refinancing
35 times with loans totaling $6M: report
BizPac Review,
by
Frieda Powers
Original Article
Posted By: ladydawgfan,
6/24/2024 10:24:51 PM
Despite being reportedly worth upwards of $10 million, President Joe Biden and First Lady Jill Biden have refinanced their Delaware home multiple times over the last few years.
The constant refinancing has raised questions about the fast cash provided by the renegotiated loans on the Delaware properties which the Daily Mail noted occurred “an astonishing 35 times.”
Since 1975, the Bidens have lived in two houses in Delaware with their first property in Wilmington being sold in the 1990s. The couple reportedly secured a “new mortgage or credit deal on both homes every 17 months,” according to the outlet.
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Reply 1 - Posted by:
NorthernDog 6/24/2024 10:39:04 PM (No. 1742990)
It's one sweetheart deal after another for Uncle Joe. I wonder if he's getting a below-market interest rate?
23 people like this.
Reply 2 - Posted by:
DVC 6/24/2024 10:51:48 PM (No. 1742996)
And you can bet that NONE of that was paid back, or the money it was paid back with was being laundered and from overseas crooks bribing Joe.
27 people like this.
Reply 3 - Posted by:
LadyHen 6/24/2024 11:06:09 PM (No. 1743002)
fta: For nine years up to July 2012, the Bidens reportedly secured six separate home equity credit agreements, all with the same bank.
“Many of these lines of credit deals lasted just a few months, before being paid off, then the Bidens moved onto the next refinance deal,” the outlet reported.
(snip) Notably, Biden’s son Hunter was hired by MBNA that year, 1996, and soon went on to become a senior vice president with the company.
--
Who paid off all this debt and with money from who/where? This is very suspicious behavior especially when the charges of influence peddling, payoffs, and money laundering, much of which is tied to Ukraine, have been floating around for a decade.
34 people like this.
Reply 4 - Posted by:
EJKrausJr 6/24/2024 11:22:00 PM (No. 1743010)
The Big Guy makes money again, this time through refi. 35 times, this time. Grifting, grifting, grifting, 35 times. The Big Guy knows how to get money. MBNA is his bag.
20 people like this.
Reply 5 - Posted by:
Starboard_side 6/24/2024 11:27:20 PM (No. 1743016)
Sounds very suspicious and leads one to think someone who's had much of their expenses paid (especially as VP for 8 years) had a money problem.
18 people like this.
Reply 6 - Posted by:
planetgeo 6/24/2024 11:49:40 PM (No. 1743028)
Sounds like a very likely case of felony loan fraud for some enterprising Republican Attorney General to follow up on.
24 people like this.
Reply 7 - Posted by:
john56 6/24/2024 11:55:09 PM (No. 1743030)
Before Sleepy Creepy Crooked President Uncle Joe made it to the big time as VP for Emperor Obama the First, he and his clan honed their bagman skills with various Delaware and other USA based firms.
17 people like this.
Reply 8 - Posted by:
wilarrbie 6/25/2024 12:10:18 AM (No. 1743038)
87,000 newly hired armed IRS agents. Sic 'em.
21 people like this.
Reply 9 - Posted by:
Flyball Dogs 6/25/2024 12:26:09 AM (No. 1743045)
“ However, Biden, a career politician, and Jill, a college professor, are estimated to be worth around $10 million, …”
A career politician worth $10 mil.
(Only $10?)
17 people like this.
Reply 10 - Posted by:
DVC 6/25/2024 1:46:20 AM (No. 1743068)
Money laundering. Straight up fraud.
21 people like this.
Reply 11 - Posted by:
MissTX 6/25/2024 2:11:00 AM (No. 1743073)
I’ll ask the obvious…why would he even need a loan on any home with the amount of $$$ he rakes in? It cannot possibly be that he needs the moulah.
10 people like this.
Reply 12 - Posted by:
mifla 6/25/2024 3:41:41 AM (No. 1743080)
Hunter, do us all a favor and rat out your Dad for a lighter sentence.
13 people like this.
Reply 13 - Posted by:
Digger 6/25/2024 3:54:06 AM (No. 1743087)
At best, this is personal financial irresponsibility. He obviously can’t handle little things and has shown supreme inability to handle finances on a national scale. What part does “Dr.” Jill play in all this? Is she the instigator, the co-conspirator or an innocent bystander? It’s not necessary to smell a rat when it’s right there in plain sight.
10 people like this.
Reply 14 - Posted by:
Trigger2 6/25/2024 4:30:00 AM (No. 1743101)
No wonder Joey needs al that China money.
8 people like this.
Reply 15 - Posted by:
anniebc 6/25/2024 4:51:19 AM (No. 1743119)
Leftists can't run a lemonade stand, but they sure can run a scam.
17 people like this.
Reply 16 - Posted by:
Petronius 6/25/2024 6:19:46 AM (No. 1743138)
Money laundering and tax dodge, Old Joe takes out a "loan", someone else pays it off for him.
20 people like this.
Reply 17 - Posted by:
JackBurton 6/25/2024 7:40:26 AM (No. 1743180)
Suggestion:
Read the last two paragraphs first... and then read the rest of the article. It will make a little more sense.
4 people like this.
Reply 18 - Posted by:
smak90 6/25/2024 7:58:53 AM (No. 1743190)
Pure and simple money laundering. Get clean money from the loan, pay it back over the next few months with bribes from China. Rinse and repeat 35 times. If anyone else did it the bank and IRS would be on them in minutes.
11 people like this.
Reply 19 - Posted by:
rushie 6/25/2024 8:01:58 AM (No. 1743191)
MBNA a credit card company. I recall that Biden was involved in some kind of legislation that greatly benefited credit card companies.
14 people like this.
Reply 20 - Posted by:
tootall 6/25/2024 8:30:11 AM (No. 1743212)
Joe has been hustling Corporations in Delaware his whole career. Delaware has VERY favorable laws for Corporations (especially tax law) and a leading choice for them to domicile. How does that happen?
8 people like this.
Reply 21 - Posted by:
Venturer 6/25/2024 8:49:23 AM (No. 1743229)
I can imagine what my bank would tell me if I tried to renegotiate any loan for 35 times.
That has to be a record. Is there any case where anyone has done that before?
11 people like this.
Reply 22 - Posted by:
Hazymac 6/25/2024 9:17:23 AM (No. 1743240)
Remember, too, that concerning the Bidens, there have been over 170 Suspicious Activity Reports (SARs) from at least six major banks. One hundred seventy SARs must be a record for suspicious activity. The "first" family appear to be a bunch of money launderers who have taken in ten of millions of dollars from some very bad international actors. And for what? (Did they report the bribes and pay taxes on same? If not, that could be a problem a few months down the road, especially if American voters jettison FJB in November. The cheating will be feverish.) But they're wastrels, as most useless, crooked people are, and can't seem to get ahead financially without outside help. Thus, this profusion of home loan financings. Round and round they go. It's coming to an end.
7 people like this.
Reply 23 - Posted by:
Mushroom 6/25/2024 9:20:53 AM (No. 1743244)
The important question is did he ever over value his home in these loans?
8 people like this.
Reply 24 - Posted by:
mc squared 6/25/2024 9:41:26 AM (No. 1743256)
Is there any truth to the rumor that the Biden have started a 'Go Fund Me' page to pay their expenses?
5 people like this.
Reply 25 - Posted by:
ADNova 6/25/2024 9:50:16 AM (No. 1743265)
I’ve refinanced 2 homes 3 times in 25 years so 35 refinancings isn’t weird at all.
3 people like this.
Reply 26 - Posted by:
MickTurn 6/25/2024 9:54:48 AM (No. 1743272)
This smells like money laundering.
8 people like this.
Reply 27 - Posted by:
LC Chihuahua 6/25/2024 11:44:55 AM (No. 1743338)
Corruption, incompetence, and debt all go hand in hand. That this was allowed to happen shows how broken beyond repair we really are.
4 people like this.
Reply 28 - Posted by:
franq 6/25/2024 1:04:32 PM (No. 1743369)
Until I saw Ldot explanations, I couldn't conceive of such a thing.
2 people like this.
Reply 29 - Posted by:
bighambone 6/25/2024 7:11:32 PM (No. 1743515)
Obviously during his decades in the US Senate and as Obama’s Vice-President, Biden took care of the Delaware banks and in turn the Delaware banks took care of Biden!
1 person likes this.
Reply 30 - Posted by:
pensom2 6/25/2024 8:28:12 PM (No. 1743534)
This is simpleton money laundering. No checks from Hunter or Jim to Joe or Dr. Jill; money to make loan payments is wired to the bank by Hunter or those he directs. When the loan is paid off (quickly and early), Joe and Jill do another re-finance and pocket another $1-2 million, and that second loan is paid off the same way over 2-3 years with big wire transfers. Meantime, while Hunter was also paying all the utilities, repairs, and property taxes on the homes. It's not like they leave a trail of $80,000 monthly checks from Hunter to Joe. And Joe can narrow his eyes and raise his voice and scream that Hunter has never paid him a dime.
1 person likes this.
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Yeah, there's nothing suspicious about this!! /sarcasm