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Joe Biden turns his Delaware home into 'personal ATM', earns $4.2mn from $350K property: Report

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Joe Biden turns his Delaware home into 'personal ATM', earns .2mn from 0K property: Report


United States President Joe Biden and First Lady Jill Biden are believed to have treated their various real estate holdings in Delaware as their personal ATM for years by using them for various mortgages and refinancing them for not less than 35 times, according to a report.

The couple, whose reported net worth is $10 million, have allegedly borrowed $6 million against their properties for many years. 

The dealings over their homes in Delaware are likely to have started in the late 1970s just after Joe and Jill got married.

According to a report published in the Daily Mail, the mortgage or credit deals were negotiated by the couple after approximately every 17 months. Such frequent refinancing has left the finance experts puzzled.

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“It doesn’t make a lot of sense unless they were desperate for cash,” said a finance expert, while speaking to Daily Mail.

The revelations made in the report have further added mystery to the financial past of his family as the president faces scrutiny over financial transactions. 

Biden’s murky financial transactions

The current residence of Bidens is a mansion which was purchased in 1996 and has an outstanding $541,000 mortgage after nearly three decades, as per records. 

“Why would anyone view their home as an ATM?” LA realtor Tony Mariotti said while speaking to the Daily Mail.

“Over time, mortgage fees really add up. Paying off a mortgage… is like a forced savings account that bears modest interest,” Mariotti added. 

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As per the records, in 1996 the current four-acre spread was purchased by Bidens for $350,000 and they have since leveraged it with 20 different home credit agreements as well as mortgages totalling $4.23 million.

Watch: US: Biden & Trump prep for key Presidential debate

Bidens’ other major property is a summer home in Rehoboth Beach which was purchased in 2017 for $2.74 million. It was a cash purchase and had no mortgages attached to it.

However, financial records of Bidens show that they have significant debt and have a mortgage on the Wilmington home as well as an equity loan on the same property.

The family’s total liabilities fall between $350,000 and $850,000. Their estimated assets fall between $1 million and $2.6 million.

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According to the records, the Bidens have sanctioned 13 home loans and two credit agreements between 1978 and 1994 which totals $1.72 million.

(With inputs from agencies)

Prisha

Prisha is a digital journalist at WION and she majorly covers international politics. She loves to dive into features and explore different cultures and histories

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Delaware

DSBF Final: Odds On Put Option prevails in Ramona Hubbard – State of Delaware News

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DSBF Final: Odds On Put Option prevails in Ramona Hubbard – State of Delaware News


Odds On Put Option, driven by Tim Tetrick, won in 1:54.1 at Bally’s Dover on Wednesday

DOVER — Odds On Put Option parlayed a pocket trip into a lifetime-best 1:54.1 victory in the $110,000 Ramona Hubbard Delaware Standardbred Breeders’ Fund championship for 2-year-old pacing fillies on Wednesday, Nov. 26, at Bally’s Dover.

Tim Tetrick sent Odds On Put Option to the lead from post 6 right at the opening bell, clearing even-money favorite Just Applause (driven by Jason Bartlett) through a :27.4 first quarter before yielding control to Warrens Charm (Art Stafford Jr.), who brushed from third, with a circuit to go. After stalking unabatedly from the pocket through middle splits of :56.2 and 1:25.4, Odds On Put Option was boxed on the final turn by Just Applause, who re-emerged to mount a first-over rally and engage Warrens Charm.

Odds On Put Option won her fourth career race in her seventh start Wednesday as the 2-1 third choice.
Odds On Put Option, the 2-1 third choice in Wednesday’s race, won her fourth career race in her seventh start.

Just before the top of the stretch, Just Applause broke stride, enabling Odds On Put Option to angle off the pegs at the eighth pole and overtake Warrens Charm to win by a widening 1-1/2 lengths. Meemaw’s Column (Russell Foster) finished third, another 6-1/4 lengths in arrears.

Scott DiDomenico trains Odds On Put Option, now a four-time winner with $107,075 in earnings from seven starts, for Odds On Racing. As the 2-1 third choice, the He’s Watching-Odds On Hollywood filly returned $6 to win.

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The DSBF series for 3-year-olds begin Monday, Dec. 1, with a single $20,000 first-round preliminary event for sophomore trotting fillies kicking off a 15-race card. First post is 4:30 p.m. 

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Delaware

Sen. Coons calls appointment of Delaware’s acting U.S. attorney ‘probably illegal’

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Sen. Coons calls appointment of Delaware’s acting U.S. attorney ‘probably illegal’


What are journalists missing from the state of Delaware? What would you most like WHYY News to cover? Let us know.

Is Delaware’s “acting” U.S. attorney, a loyalist of President Donald Trump who chaired the state Republican Party immediately before her appointment, serving in the post illegally?

That’s a question now being asked about Julianne Murray as federal courts around the country have ruled that five other U.S. attorneys were unlawfully put in their posts on an “interim” or “acting” basis by U.S. Attorney General Pam Bondi.

Bondi installed Murray as Delaware’s “interim” U.S. attorney in July. The 120-day limit for interim appointments ended this month, when Bondi changed Murray’s status as Delaware’s chief federal law enforcement officer to “acting.”

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But U.S. Sen. Chris Coons of Delaware, a member of the Senate Judiciary Committee that vets candidates for U.S. attorney posts, told WHYY News he thinks the steps Bondi took to keep Murray in the post are “probably illegal.”

The nation’s 93 U.S. attorneys are critical law enforcement administrators who guide prosecutions in their jurisdictions for a wide range of federal cases, including gang violence, narcotics trafficking, firearms crimes, kidnapping, bank fraud, money laundering and tax evasion.

Under the U.S. Constitution, federal law and longstanding practice, U.S. attorneys are nominated by the president and must be confirmed by the U.S. Senate.

Bondi, however, has chosen a nontraditional route with some appointments, only to have her end-around maneuvers declared unlawful in New Jersey, Virginia, Nevada, New Mexico and California.

The latest reversal came Monday. In a dramatic decision, a judge ruled that former Trump personal lawyer Lindsey Halligan — an insurance lawyer with no prosecutorial experience before Bondi made her interim U.S. attorney for the Eastern District of Virginia in September — was illegally installed. Bondi immediately pledged to appeal.

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Perhaps more importantly, the judge’s order that Halligan’s appointment was unlawful also dismissed two high-profile cases — the criminal indictments against former FBI director James Comey and New York Attorney General Letitia James. Trump had publicly called for their prosecutions and Halligan, within days of taking the job, obtained grand jury indictments against them.

Meanwhile, the status of Alina Habba, another of Trump’s former personal attorneys who Bondi put in the New Jersey post this year, only to have her actions declared unlawful in August, is also in limbo. The case is now before the 3rd U.S. Circuit of Appeals, whose decisions govern New Jersey and Delaware.

From left, the appointments of Alina Habba of New Jersey and Lindsey Halligan of the Eastern District of Virginia have been ruled illegal. (Associated Press/The White House)

While no formal legal challenge has been brought against Murray’s appointment, the details surrounding her installation have similarities to the others that have been contested and ruled invalid.

Murray and the others have not been nominated by Trump and confirmed by the Senate.

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And like Habba in New Jersey, the judges in the U.S. District Court for Delaware decided not to reappoint Murray to the post after her initial 120-day “interim” status ended Nov. 11.

Federal law says that after 120 days, a district’s judges may put someone in the post until the vacancy is formally filled.

In New Jersey, the judges named Habba’s top assistant to the post, but Bondi promptly fired her. Then, Bondi took several legal steps to make Habba the “acting” U.S. Attorney, using another federal law that lets someone fill a post for 210 days.

Even though a judge ruled Habba’s appointment unlawful in August, she remains in the post while the Trump administration appeals.



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Housing advocates urge Wilmington officials to do more to address homelessness

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Housing advocates urge Wilmington officials to do more to address homelessness


Mayor John Carney vowed to address homelessness in his first year in office. He is proposing allowing unhoused people to camp in one of the city’s parks. But all other encampments would be banned.

“As we attempt to provide support for the unhoused here in Wilmington, we have a responsibility on how, on behalf of the residents of neighborhoods, to ensure that Wilmington operates in an orderly and lawful way,” he said in October.

Raquel Cruz said she doesn’t think the mayor’s plan goes far enough.

“The mayor needs to do much, much more than just shuffle the unhoused around rather than try to pursue better outcomes for them,” she said.

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Raquel Cruz and Noel Camacho joined the rally at Wilmington City Hall to advocate for more services for the homeless. (Sarah Mueller/WHYY)

Housing advocates argue a ban on sleeping outside criminalizes homelessness. They said Wilmington needs more shelter beds and affordable housing.

Carney said city officials would provide restroom facilities and clean water for Christina Park residents and will explore adding a shower facility there. On-site security is also part of the plan.

The city is also working with the Wilmington Housing Authority and the Ministry of Caring to open a dining hall for the homeless at the WHA site a block away from Christina Park.

People marching on the sidewalk and holding up signs
Marchers walk to the Wilmington city hall as part of a progressive movement meant to rally support for homeless services. (Sarah Mueller/WHYY)

The mayor has also argued that Philadelphia’s efforts to clean up Kensington, an area known for an open-air drug market and homeless encampments, is adding to Wilmington’s homeless population looking for shelter and services.



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