RADIOJune 25, 2024

Is THIS the Shady Reason Joe Biden Keeps Refinancing His Home?!

A report has come out in the Daily Mail that claims, “Joe and Jill Biden have been using their Delaware house for fast cash - refinancing 20 times with loans totaling $4.2 million since buying the $350k home.” That’s a little weird, Glenn says. Why would the Bidens do that? And also, how did the Bidens – a career politician and a teacher – amass a reported $10 million net worth? Well, Glenn decides to see what ChatGPT has to say about this. Why would someone do all this refinancing…if it were a TV show, of course? Well, A.I. gave quite a telling answer …

Transcript

Below is a rush transcript that may contain errors

GLENN: So, Stu, you're -- you know, you like to play around with money and look for different ways of -- of, you know, financing and everything else.

See if this makes any sense to you. Joe Biden and First Lady Jill have been using their home as an ATM, taking out multiple mortgages and refinancing their Delaware property, an astonishing 35 times.

The president has lived in two houses in his home state, since 1975, when he bought his first property in Wilmington, that he later sold in the 1990s. But records obtained by DailyMail.com show the couple have a habit of negotiating a new mortgage or credit deal on both homes, every 17 months.

Over the decades, the Bidens have borrowed a total sum of $6 million on both properties.

There's still an outstanding $541,000 mortgage on their current three-bedroom four-and-a-half Wilmington mansion nearly 30 years after they bought it. The constant refinancing raises the question of, why?

Why the Bidens who have a reported net worth of $10 million need a constant flow of extra cash?

It doesn't make a lot of sense, says financial experts.

Unless, they're desperate for cash. The revelation comes as questions grow. The president's involvement with his son Hunter's shady business dealings.

According to the mortgage documents, the president and First Lady purchased their current 4-acre lot for $350,000 in 1996. But have since saddled it with 20 different home credit agreements and mortgages. Totaling $4.23 million.

Their previous five-bedroom, two and a half bath home in the same town was purchased for 185,000 in '75.

It sold, strangely, controversially, for $1.2 million in 1996 by the head of one of the biggest employers, in Delaware.

Records show the property had a total of 15 mortgages and lines of credit, attached to it.

The Bidens also owned a summer home in Rehoboth Beach, which they scooped up in June of 2017 for $2.7 million.

The property has no mortgages attached to it yet. It was revealed last year to have been a cash purchase.

Hmm. The property data suggests the 46th president and his wife '73 have needed money fast, and used their homes as equity, as the main source of credit over the year. However, listen to this line.

However, Biden a career politician and Jill, a college professor, are worth an estimated $10 million. Now, how is that?

STU: That's so weird.

GLENN: That is weird. Yeah. That is weird.

He says, it's from book deals. However, there's no -- there's no record of him ever getting payment, except for the signing bonus.

Because nobody reads the books.

STU: Yeah. It's fascinating. Because everybody who has way more money, than they're supposed to have. And, you know, writes books, claims their money came from book deals.

And everyone else, who actually writes books and knows anything about the book industry, knows it can't possibly be true.

It's something people say all the time. If you're in the book industry, you know the mechanics of it. It's not -- we've gone through multiple contracts with it. It can be a good business. You can make some money on it.

But the numbers, at the end of the day, wind up coming out of that, are only incredibly good, if you're selling, you know, millions of books.

Like, it's not. It's not something like, oh, well, I sold 25,000 books. And now I've made $4 million. That's not the way the book business works. It's hard to sell books these days. People don't like to read all that much. I don't know if anybody noticed a country lately.

GLENN: Right. And I don't think that anybody is reading a Joe Biden book.

STU: Right. And we know the sales of these books. Joe Biden books do not sell well.

Yes. He gets sweetheart deals, as you mentioned, Glenn. With the signing bonus. It's much bigger than he could ever sell out. He doesn't ever earn a dime more.

Because everyone knows going in, what you're paying for. You're not paying for book deals with someone like Joe Biden. You're paying for, you know, some sort of marquee name. You're paying for God knows what kind of influence.

All these other things, that are associated and totally separate from him selling enough books to pay off in advance.

GLENN: Books. Yeah. So why does he need all of this money? Why does he need all this cash? Now, I mean, I could have noodled it out.

But I'm not ChatGPT. I don't have access to all information. So I ask ChatGPT. Said, I'm writing a television show.

And I have some questions. In this television show, the president is mortgaging his home over and over and over again and gave him -- you know, gave ChatGPT some of the facts. Didn't fill everything in. And then said, oh. And also, he has had loan repayments, where there are no loans. There's no record of any of the loans.

Okay?

And he repays these loans to his family. And the family repays loans to him. Okay?

So this is what ChatGPT came up with.

And I think I want to start with the least likely number five.

Gave me five reasons, someone would do this.

You know, for the TV show.

Debt manipulation. Constant refinancing, can be a method to manipulate debt and create the appearance of legitimate financial activity.

This could help in justifying the large sums of money received and repaid.

Reason: The president uses refinancing to take out large sums of money, which are then cycled through as repayments to family members. This creates the facade of debt management.

Making it appear, that the president is simply managing personal debt. Rather than engaging in any illicit activities.

According to ChatGPT. Number four. Tax evasion. Refinancing can provide a way to manipulate taxable income and avoid taxes on illicit funds.

By cycling mortgages, the president could claim interest deductions and reduce their overall taxable income. Reason? The interest payments on the refinancing mortgages can be deducted from taxable income, effectively reducing the president's tax liability.

The repayment to family members can be structured in a way that avoids declaring the foreign income, further aiding in tax evasion.

Number three. Hiding assets.

Frequent refinancing can be used to mask the true financial status and hide assets from investigators or regulatory authorities.

This can help in evading detection of illicit funds. Reason? The president uses the equity extracted from the refinancing to pay off family members, who then transfer the funds back as loan repayments.

This cycle hides the actual wealth, and the source of the funds. Making it seem like the money is tied up in legitimate debt, rather than illicit gains.

By the way, so far, nothing non-nefarious. ChatGPT didn't come up with a single non-nefarious reason. Two, creating a paper trail. Mortgage cycling can create a complex financial paper trail that makes it difficult for investigators to track the true source, and destination of money. This can also help -- hide illegal financial activities.

Reason. By refinancing frequently. The president can create a maze of financial transactions, that obscure the flow of money.

The complexity can make it harder for authorities to detect the link between the foreign payoffs, and the repayment made to family members. Number one, this is ChatGPT's number one reason for having, you know, 17 mortgages. And keep taking out large sums of money. And remortgaging your house, 17 times.

Frequent refinancing of mortgages, can be a method to launder illicit funds.

By continually cycling mortgages, the president could introduce large amounts of cash, into the financial system. Under the guise of legitimate loans.

Which are then repaid using money received from foreign payoffs.

Reason, the president receives large sums of money from foreign entities, through family members.

To legitimatize these funds. They are funneled into mortgage refinancing process.

The constant refinancing, and the large checks written for loan repayments help disguise the origin of the funds. Making them appear as legitimate financial transactions.

That's ChatGPT's opinion on why you might do what the Daily Telegraph has just revealed what the Bidens do.

STU: If you asked it, and put in Biden's name. It probably wouldn't give you any answer. You would have to write it in a way.

I'm writing a movie script. To get an answer to that.

GLENN: Correct. And looking for legitimate reasons why you would do this.

Why would a character do this?

17 times?

35 times, overall. But on one house, 17 times.

Why would -- why would that happen?

Well, that's what ChatGPT came up with.

STU: Right. And like, there are reasons to do it. I guess, if you're -- as the rates are falling, right?

You might renegotiate your mortgage. Like, I redid my mortgage, when rates were low, right?

I did it once. Maybe you can even think, potentially because they fell so far from where they started. Maybe you do it twice, right?

But you don't get from 35 with low interest rates. You don't get to 35 with an approving credit score. You don't -- there are reasons you might do it more than once. You don't get to 35.

Maybe -- what's interesting. Let's say, you are a person who has -- if you're Joe Biden, you have $10 million. And let's say, that's locked up in -- you know, in investments.

I don't know.

GLENN: He says, it's pension, book sales, and investments.

STU: Right. So let's say you bought Nvidia stock, and it's gone up a lot. And you don't want to sell it, and take the tax hit. To access the money, you can take some of the equity out of your house to spend. The issue of that. You can't just keep doing it. You have to pay it back each time.

Which means you have to have an influx of cash to keep paying off those borrowing --

GLENN: Yeah. He would pay them off sometimes in months. Sometimes in a year. He would take out, you know, a million dollar loan. And then pay it off within the year.

Excuse me?

On a teacher's salary. And a public servant. Huh!

STU: I know. And, by the way, Glenn, I just want to point out the hypocrisy for a moment of a man who says he's got $10 million in investments and doesn't want to pay the taxes associated with the gains.

Right? Like, he's just avoiding the exact types of taxes he's proposing, and trying to implement on everyone else. And saying everyone else is skipping out on their taxes. He's doing the exact same thing. And that is the best-case scenario, here.

GLENN: Of course. I know. I know.

STU: The real truth seems to fit precisely with what we suspect Joe Biden is doing with his family members, when it comes to essentially, allegedly, laundering money through international sources.

GLENN: That's why these people in Washington, DC, say they're going after the rich. They don't mean it. They don't mean it.

They don't mean the really rich and connected rich. They won't ever tax those people. They mean you. They mean the person that has just started a business. And starting to turn those things around. Those are the people that they're really after. They will never go -- as Donald Trump said, look, you don't like the amount I pay in taxes? Then change the laws! Okay?

He knows. Rich people can play the games of avoiding taxes. And they can shelter their money and everything else that helps them. They can do the things that Joe Biden did. In the pest case scenario. From ChatGPT.

Exposed: Obama-Biden Judges’ Shocking Coup to Sabotage Trump’s Agenda

There is a judicial coup happening against President Trump, Glenn argues. Glenn exposes the activist Obama and Biden-era judges who are conducting a full-scale, coordinated assault against the mandate that the American people gave Trump. There’s Judge James Boasberg, who tried to stop Trump from deporting illegal immigrant criminals. Then, there’s Judge Ana Reyes, who halted Trump’s trans ban in the military (and who also has a long history of donating to Democrats). Also fighting Trump are judges Theodore Chang and Amir Ali, who are trying to reverse Trump’s dismantling of USAID. This isn’t normal “checks and balances.” This is left-wing judges using lawfare to play president and fight the dismantling of the deep state.

Watch this FULL episode of Glenn TV HERE.

THE GLENN BECK PODCAST

EU Elites’ Shocking Plot to Sabotage Trump Exposed!

Are European Union elites working to “sabotage” President Trump’s plans for the West? Glenn speaks with Heritage Foundation president Kevin Roberts, who makes the case that Trump is trying to reset the West and stop the “managed decline” of the World Economic Forum’s Great Reset. But many European leaders are so embedded into that old system that they won’t go down without a fight. Glenn and Kevin also discuss Trump’s negotiations with Mexico and Canada, whether former UK Prime Minister Liz Truss was right to call Britain a “failed state,” and why Kevin believes Trump’s cabinet, JD Vance, and one other thing are Trump’s biggest wins.

Former Sniper WARNS Major “Instability” May Hit This Summer

Former U.S. Army Special Forces Sniper Tim Kennedy joins Glenn to warn that “real instability” is coming across many parts of the world, including the Middle East, Haiti, Congo, and other parts of Africa. And one of the main signs of this is “the killing of Christians” at high levels in those regions. With a civil war brewing in Afghanistan, “genocide” level attacks in regions of Africa, and more trouble on the horizon, predictive models have found that things could very likely boil over soon. But Kennedy details how the Trump administration, especially Tulsi Gabbard, Kash Patel, and Pam Bondi, are working overtime to “get ahead of what we know is coming” and keep Americans safe.

Transcript

Below is a rush transcript that may contain errors

GLENN: We're talking to Tim Kennedy. Talking to the president about the border, and what's going on with the border this week. And I said, you know, if I were, you know, a Mexican citizen. And knowing that my government was in bed with the cartels. I would be hoping that some special forces just showed up in the middle of the night. And started killing people. In these cartels. And I said, well, that would be news breaking if I said that was a good idea.

You know, I hope it doesn't come to that. It was clear, that that is on the table. I mean, that really has to happen. Does it not?

I mean, that is a collapsed narco state in Mexico. Isn't it?

MATT: Yeah, we -- the rules of war that we'll be experiencing for the next five to ten years are not the traditional maneuver warfare that people remember from Korea and from Vietnam, and from even -- you know, we know who our enemy is. These are going to be businesses.

These are syndicated criminal organizations, that do not fight fair, and the cartel owns both the businesses, the corporations, and the criminal networks that are involved in that.

So, yes. It's absolutely on the table. And a group of people that are sitting on like the go button, are absolute savages, Mr. Beck.

GLENN: They are. I know some of them. I know some of them.

And they're just like -- and they're just -- they're just champing at the bit to go, I know. I know.

TIM: That's the truth.

We're in conversation with the cartels right now. And the cartels are saying, hey, we don't want to die. We don't want to be wiped off the face of the planet, which we know is not going to happen. So, you know, are there other options. Hey, what if we stopped human trafficking?

What if we stopped fentanyl production entirely?

What if -- what if all of that just goes away. What if we stop and seal the border on the south side. What are you -- will we maybe be allowed to transport some cocaine and some marijuana?

I'm totally fine with this. If we stop fentanyl. Human trafficking. Gun smuggling. And we stop the invasion of our border, I'll -- and we don't have to do a while bunch of killing.

You know, whatever.

But they know they're on the brink of --

GLENN: I hope they do.

TIM: Of existence.

GLENN: I hope they do.

You know, when you look at what's happening here.

And what they're bringing over here.

I mean, it has to stop, dead in its tracks.

It has to stop.

And it has to stop soon. The president is dealing with these courts. Which I just think is judicial insurrection as Mike Lee puts it. And it has to stop.

The president has to protect our borders, and has to protect our cities. This is -- you know, this is the opium wars, done to China by the English.

You know, 200 years ago. 150 years ago. And now they're doing it to us.

That's what -- that's what is happening.

TIM: Yeah.

GLENN: Tell me about the Christians and genocide, that you believe is on the horizon.

TIM: Just yesterday.

Back at the White House yesterday.

Listening to some brief about -- there's some brilliant companies that are able to do predictive modeling.

Using literally every public and classified source of information.

And there's these events that are pretty predictable.

You know, they predicted what would happen in Afghanistan. Predicted what would happen in Ukraine.

They see regionally that on the very near horizon, as soon as like late summer.

We are going to see real instability throughout CENTCOM and the Endo-Pacific region.
And some of those things -- some of the catalysts that are -- the data points are what are the killing of Christians.

And it's happening all over CENTCOM.

And --

GLENN: Explain CENTCOM. Explain CENTCOM for anybody who doesn't what CENTCOM means. Explain that.

TIM: Just imagine the Middle East starting kind of in north Africa.

And western Asia. And everything that has lots of deserts. And lots of Muslim countries -- just -- by coincidence, there's also Israel. That's in CENTCOM.

One of the few non-Muslim democracies, in that whole entire region.

Ask, you know, the Houthis and Hamas. And Hezbollah.

And then in former countries, like in Syria and Iraq, Afghanistan, those places, it's just a massacre of Christians, right now.

GLENN: So let me take a one-minute break.

Come back, because I want to talk to you more about that. Because you've been involved. We've been with you with Mercury One, and trying to help. And I know what we're gearing up for.

And I want to see if there's anything that you need and you would recommend, besides told prayers for Christians.

And I want to go deeper into what this predictive model is showing in just a second.

First, let me tell you about Preborn.

You know, if you were in the room with a woman who was thinking about giving up her baby.

What would you say?

If a scared young woman looked you in the eye and said, I don't think I could do this.

I'm alone. I don't know if it's really a baby yet.

What would you do?

Would you yell at her? Would you say, you can't do that! You'll go to hell.

Or would you tell her, you're strong enough. You are. Show her pictures of your kids maybe. Talk about miracles?

Talk about God? Talk about anything?

Anything. We're here for you. Would you just wait.

None of us would show her pictures of an aborted baby. None of us would yell at her.

Okay? The truth is, we'll never be in that room. Most of us. But Preborn will not be in that room. They don't argue or shame.

They do something really simple. It turns out, it's very persuasive. Just offer her a free ultrasound. And when she hears that tiny heartbeat. When she sees the image on the screen, everything changes. More than half the time the mom chooses life, the rest of the time, she's like, I -- I just -- I'm alone. I can't afford.

And that's where they come in, after that. They take care of mom. This saves two lives. This saves the life of torture for that woman, and the baby's life.

Please, donate your best gift today.

Go to #250. Say the key word baby for Preborn. It's #250. Key word baby. You know, just a few bucks pays for an ultrasound, and it just changes lives. Saves lives. Preborn.com/Beck. Sponsored by he Preborn. Preborn.com/Beck. Ten-second station ID.
(music)

GLENN: So, Tim, maybe we'll have you on -- we're doing a big benefit for the Nazarene Fund.

This fall.

I don't even have details on it. I just heard about it yesterday.

What that is, we go and rescue Christians. Or we pay and help people like you, go rescue Christians.

We just empower people like you, to help.

I would love to invite to that. When we get closer, I will.

Tell me about this predictive model. Why is it saying that it's going to get so bad? What's coming our way?

TIM: Yeah.

The Nazarene Fund, and Mercury One, just for -- love you guys.

I don't -- you know, we publicly can't say a lot of the things that we do at save our allies.

But none of it is possible without you, quite frankly.

Like if you look at me, and our team in Afghanistan. Or in Ukraine. Providing humanitarian aid. And pulling people out of the war zones.

Although to the Far East, as far as I possibly can get in far Russia.

Every place that we have been, has been because of you, quite frankly. Mr. Beck.

GLENN: Please. Stop calling me Mr. Beck.

Give credit. This audience is so gracious. They are so gracious.

TIM: Yeah. They just have an understanding.

Samaritan purse. Mercury One. Nazarene Fund.

We see you guys every single place, in the worst, most dire condition. So, you know, Glenn, thank you so much.

To your question, you know, we are -- if you just look in the past month, you know, you can look to Syria. You can look to the -- next to our bill.

You can look to the Congo.

Where you see thousands of Christians being killed.

You see Muslim converts, that were being specifically targeted. Down in Congo just last week.
Another 29 Christians were killed. In 2025, in like the region in Syria. There was like this region of violence. Another thousand were killed.

And so if you take -- if we're going to look for similar areas in the region, and try to predict the instability of a particular administration or government.

There's a whole bunch of -- and we can take historical data from the past 50 years. And start looking at, okay.

Economically, what is happening for instability?

What is happening culturally?

What is happening on -- in the markets?

What's happening in like -- really clear data points. And we have this bell curve of what's normal. And then you have these outliers that are -- that then keep occurring, every time there's a coup. Or every time there's genocide.

Or every time -- and there's enough data now, where we -- especially with AI. And we can scrape all of history.

We can then very accurately start, you know -- all the special operations side. I'm trying to find somebody in space and time.

It's -- that's -- used to be a difficult thing, to predict where a human is going to be.

So I could maybe bring them to justice, and if we look at the first 95 days of the president in office, and our intelligence community specifically, that told them they're going to work. With, you know, Kash Patel, enabling them. Pam Bondi.
45 Americans that have been illegally detained abroad brought home.

You know, we're knocking on the door of 100 radical terrorists, want to do harm to Americans. Dead.

And we are trying to get ahead of what we know is coming. Which is, complete near Civil War in Afghanistan.

Trying to get stability in Congo -- obviously, we see what's happening in Haiti.

And every time one of these places starts becoming less secure and stable, that is the breeding ground for radical adversarial groups, that are funded by our adversaries, like and mine Iran.

To then conduct attacks on Americans.

But they're not doing it direct.

It's like via proxy.

But Haiti, if we don't pay attention to it, China will use it.

Congo will --

GLENN: Yeah, I know.

TIM: And it just keeps happening.

GLENN: Tim, I can't thank you enough for what you do. You're really a remarkable man. It was such an honor to see you at the White House.

And as usual, see you at the White House and you're serving. Serving veterans.

So thank you for everything, Tim.

God bless you.

TIM: Yeah, you're amazing. Always in your corner. Let me know what you need.

GLENN: You've got it. Thank you, Tim Kennedy. US Army Special Forces. He's a sniper. Former UFC fighter, and really a servant to our vets.

Next year, it's going to be a tough year. All the way around us the world.

It's going to be very tough. What he's saying, is coming.

I -- you know, people say, I think Donald Trump will say for a reason, to save the republic. I'm not sure, that we understand God's mind.

It may have just been to postpone and give us more time to prepare. I'm not sure.

I hope we save the republic. But it might be time to prepare. Because things are very, very dicey in the world, and we just need to be prayerful.

Thoughtful. Jesus-like people.