The records show that the contract with M&T bank was signed on December 5, according to the report. Biden and his wife bought the house in 2017 for $2.74 million.
The media notes that it is not clear why Biden could need a quarter of a million dollars. The White House did not respond to journalists' requests.
The financial move came at a time when the president's son, Hunter Biden, is under a federal investigation for alleged tax fraud. According to investigators, he was involved in suspicious activities, involving foreign transactions, including funds from China and other foreign nations.
The president himself has also become embroiled in an FBI investigation over suspected mishandling of classified documents. Days ahead of the November 2022 midterms, Biden's attorneys discovered a batch of top-secret records at his former office at the Penn Biden Center for Diplomacy and Global Engagement, and later a trove of classified files at his Delaware home.