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Mystery Still Remains Over $250,000 Line of Credit Biden Took Out

President Joe Biden has not answered why he secured a $250,000 line of credit against his Delaware beach house. He purchased the home six years ago for $2.74 million with his wife, Jill. The line of credit will enable the president to borrow up to $250,000 against his home’s equity.

Why did Biden apply for credit anyway?

The credit was reportedly granted on December 5th, amid an intense investigation into his son Hunter Biden’s tax affairs and the discovery of multiple classified documents at his Delaware residence from his time as Obama’s vice president. 

Read More: Hunter Biden Asserts Price of Power in Texts with Devon Archer You Are a Biden

Credit: DepositPhotos

Though the White House acknowledged the matter, it did not provide an explanation, with White House press secretary Karine Jean-Pierre simply saying, “Yeah, I saw reports on that. I would just refer you to the White House Counsel’s Office.”

According to reports, Fox News has not been able to obtain contact information for the Counsel’s Office from the White House and has therefore been unable to get further clarification on the line of credit. 

The discovery of classified documents led Attorney General Merrick Garland to appoint Robert Hur as a special counsel to investigate the president’s handling of classified documentation.

Also Read: President Biden Faces Opposition From 43 Republicans Over Debt Ceiling Limit

House Oversight Committee seeks ‘suspicious’ bank reports

Furthermore, the House Oversight Committee is seeking more than 150 bank reports of suspected suspicious bank transactions of Hunter Biden. According to sources close to the investigation involved funds from “China and other foreign nations.”

The president and his son have made history by becoming the first “father and son duo” to face simultaneous yet separate federal investigations. The $250,000 line of credit that president Biden has applied for adds fuel to an ever-growing fire surrounding the president.

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Byron is a writer and personal finance nerd. He has a keen interest in investing and The Stock Market. When he is not working, he enjoys watching sports and gaming online.