Jennifer Lopez and Ben Affleck mortgaged their $60 million mansion in Los Angeles. Aren’t they millionaires? A real estate expert explains why they do this

Jennifer Lopez and Ben Affleck are under fire from the press, not because of the actor’s love trips with his ex-wife Jennifer Garner, but because they mortgaged the mansion they just bought in May 2023.

Jennifer Lopez and Ben Affleck’s mansion, with 12 bedrooms and 24 bathrooms, located on a mountain near the famous Beverly Hills Hotel, cost $60.85 million, which the couple paid in cash, the American press writes. the moment.

But now the couple known as Bennifer used the “Palace of Wallingford” as collateral for a mortgage loan of 20 million dollars, exclusively reports the American The Sun, although the information has already spread like wildfire to other media and social networks.

Why Jennifer Lopez and Ben Affleck’s mansion was mortgaged

According to the relevant media, the couple received a 30-year loan from JPMorgan Chase Bank with an initial fixed interest rate of 2.5 percent for 10 years. The contract would be signed on August 31.

There is no shortage of those who question this decision of Jennifer Lopez and Ben Affleck, considering that together they have a net worth of about 300 million dollars, according to the review The Sun of the USA.

This is the family founded by Jennifer Lopez and Ben Affleck: How many children do they have and what are the names of the five heirs they are now raising together?

In this regard, the media quotes the statements of the real estate agent Tony Mariotti, CEO of RubyHome Luxury Real Estatewho described the couple’s action as a “smart financial move”, since “the interest on the loan secured by the property is lower than the one they will get on a personal loan”.

“Interest is also tax-deductible. They can use the funds almost however they want, which wouldn’t happen if it was an unsecured loan,” noted the real estate expert, which works in Jennifer and Ben’s favor when it comes to their finances.

Jennifer Lopez declares her love to Ben Affleck, overwhelmed with happiness on their first wedding anniversary and unreleased photos of the wedding in Georgia

He also added that it was a “tactic” common among the “rich” to get tax breaks.

Jennifer Lopez and Ben Affleck’s mansion is a luxury property that the couple remodeled in their own style, and the house also has its own luxury features such as an indoor pickleball court, gym and boxing ring, and a sophisticated anti-intrusion system. (AND)