aggiehawg said:

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FTAC2011 said:

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Biden is an idiot.. however, refinancing your home to pull out cash tax free to invest in other real estate or business deals is an extremely common investment strategy.

It's literally the principle of BRRRR investing in real estate

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He has no other real estate. And according to his "reported" tax returns, few investments. A mutual fund but not much else...on paper.

But don't ignore the timing on these. Only a few months apart in many cases. That is just a very suspicious pattern and for those who have gone through the process of application, approval, funding of loan after loan after loan, that's supposed to be a lot of work with updated financial information each time.

Can't just keep handing them old appraisals and old financial statements. Unless one is a US Senator, apparently.

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Oddly enough, many of his minor grandkids have/had very successful businesses. Guess they got a knack for business that Joe just didn't have

It was a clever laundering scheme. He either gets the money from his brother in repayment of a "loan" and pays the money back. Or Hunter makes the payment on his behalf as part of the 10%. He made millions from the scheme.

FTAC2011 said:

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You don't have to do business deals I'm just giving examples of why to cash out refinance

The principal of this discussion (the cash out refi)… there is nothing wrong with it. What he did with the money could very possibly be wrong.

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You are assuming he and Jill actually paid the debt service and the principal in full each time while pulling out more cash. They have both been over 65 for a lot of years now. Do a reverse mortgage.

Almost all percentage of our government is corrupt.

annie88 said:

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I've owned three homes in 28 years and have never refinanced.

Not that there's anything wrong with that.

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If the rates dropped significantly, you should have.

I've refinanced my current home twice since I moved here. Rates kept dropping. Of course I also wanted to move to a shorter term.

That has nothing to do with the fact that what Biden has done looks a lot like corruption and/or money laundering.

35 > 34

I paid all my homes off within just a few years, so it's been a little different for me. But I completely understand why people do that, but in this case this is corruption again with this jerk.

FTAC2011 said:

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Biden is an idiot.. however, refinancing your home to pull out cash tax free to invest in other real estate or business deals is an extremely common investment strategy.

It's literally the principle of BRRRR investing in real estate

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Couldn't he just borrow the money from Bernie Sanders?

We have owned two homes and pouring the slab in the morning on our new one. Only refinanced once and that was with our first home. When we bought it, the interest rate was 17.25%, but was a buydown mortgage, starting at 14.25% and going up one percent each year. Refinanced at 12.75 and thought we had hit a home run, lol.

All that debt biden has had on homes, bet he got the funds to pay off the loans via nefarious schemes, including from Hunter later in the game. Money had to come from somewhere.

zephyr88 said:

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The best way to make 'shady money' is to make the money trail hard to follow.

This is certainly not normal behavior for anyone.

The Biden crime family knows how to cover its tracks.

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I suspect they get legal advice from lawyers, but
more than that, these are lawyers practiced in helping
various Dem lawmakers get rich using political power.

I wonder if he still has a note on that 1970's Vette he parks there, next to all the classified documents.

Dude is just so incredibly sharp that he became a multimillionaire on a gov salary. Impressive!

Shooting fish in a barrel with the loan documents that contain numerous federal crimes.

TRADUCTOR said:

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Shooting fish in a barrel with the loan documents that contain numerous federal crimes.

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If they were properly documented in the first place and still exist, that is. Not at all sure of either one at this point.

Wow, that should have wrecked his credit rating to have so many HELOC and refinances in short order, and likely rolling over existing debt into new debt.

MouthBQ98 said:

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Wow, that should have wrecked his credit rating to have so many HELOC and refinances in short order, and likely rolling over existing debt into new debt.

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Fully agree with that. When I was doing real estate closings, getiing the title report on that property with all of that debt and new debt just months later? I would be reviewing those loan packages pretty closely if there was to be a mortgage title policy issued. A lot of consultation with underwriter's counsel.

Friend of Angelos?

akm91 said:

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Friend of Angelos?

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I was actually a little surpised Countrywide was not involved in a few of those since former Senator Dodds and Biden were such good buddies.

I can't believe refi'ed 35 times and it didn't raise any flags. Must be nice to be a politician