Joe and Jill Biden have refinanced their Delaware home a remarkable 20 times, reportedly generating $4.2 million in proceeds from the property originally purchased for $350,000 in the late 1970s. According to the Daily Mail, the Bidens have engaged in new mortgage or credit arrangements approximately every 17 months, a practice that has drawn attention and scrutiny.
These revelations come amid ongoing scrutiny of the President’s family finances. Their current residence, purchased in 1996, still carries a mortgage balance of $541,000 nearly three decades later, public records indicate.
Previously, the Bidens owned another home in Wilmington, bought in 1975 for $185,000 and sold in 1996 for $1.2 million. During their ownership, the property reportedly had 15 mortgages and lines of credit. It was later sold to the vice chairman of MBNA, Delaware’s largest employer, which coincidentally employed Hunter Biden starting the same year.
