How many houses does Joe Biden have and where are they?

PRESIDENT Joe Biden owns several luxurious homes in Delaware. The homes are worth millions - here is more on his large financial empire.

How many homes does Joe Biden have?

Biden is known as “Middle Class Joe” by his colleagues and took pride in his humble beginnings while running for office.

The president and first lady Jill Biden own two homes in Delaware.

Despite that, he has called himself “one of the poorest members of Congress” as he recounts the story of growing up with a father who experienced several financial hardships.

In his autobiography titled Promises to Keep, Biden claimed that he always had an affinity for real estate, saying: “Even as a kid in high school, I'd been seduced by real estate."

In 2007, his net worth was reportedly in the negatives due to his outstanding mortgages when he took out loans in his early adulthood.

Where are Joe Biden’s homes?

Biden’s current home is located in Greenville, Delaware, in the Wilmington suburb. He purchased the 6,850 square foot property in 1996 for $350,000. Since then, the market value has increased, making the home worth nearly $1million.

While he was vice president, he rented out the home to the Secret Service for $2,200 and wanted to sell it when his son Beau got brain cancer to afford his treatments.

However, former President Obama at the time convinced him not to and loaned him the money instead. In 2017, Jill and Joe purchased another property in Delaware for $2.7million.

The home is a short walk from the beach and has six bedrooms and outdoor amenities for entertaining guests. It is located in Rehoboth Beach and it overlooks Cape Henlopen State Park.

Has he sold any homes?

Biden purchased a mansion in 1974 when he was widowed from his marriage to Neilia Biden. The home is located in Greenville, Delaware, and at the time, he paid $185,000 for it.

The 10,000 square foot house was known as “The Station” because he decided to run for office in 1988. Ultimately, the property sold for $1.2million in 1996.

Are the homes paid off?

According to county records, Biden has a $540,000 mortgage on the Wilmington house and it is yet to be paid off. There are also two other liabilities listed on his disclosure.

One of them is a line of credit, for $15,000 to $50,000, which Biden co-signed with one of his sons. It is unclear if he still owes a mortgage for the other homes.

Ref: How many houses does Joe Biden have and where are they? (The-Sun)