Posted on 01/11/2008 3:49:06 AM PST by Harrius Magnus
Foreclosure help tough when you lie Wednesday, January 9 at 4:32 PM
Last week, a woman called me and asked me for the number of the Colorado Foreclosure Hotline. I told her 1-877-601-HOPE. She told me she wanted the number for her neighbor, not herself. Sure, I thought. She then asked me if there were any counselors who spoke Spanish at the hotline, as her neighbors don't speak much English. I assured her there are bilingual counselors at the hotline. I immediately felt bad about doubting her story. I told her that her neighbors should tell the counselors the truth, even if it is painful. For example, once a distressed homeowner started the conversation with me by telling me he had never missed a mortgage payment. But now is wife is sick and he is on a permanent disability and they were strugling to make their payments. Twenty minutes into our conversation, he revealed that he had missed the last three mortgage payments. I reminded him of what he first told me. "Oh, I meant I had never missed a payment, except for those three," he said. I relayed a short version of that story to the woman who wants to help her neighbor. There was a pregnant pause, and then she told me what really was the crux of her call. The couple next door had given a false Social Security number to the lender on their mortgage application. She said although they are hard-working, good citizens, she thinks they are in this country illegally. They are understandably worried that their fraud will be discovered and there would be no help for them. .
(Excerpt) Read more at blogs.rockymountainnews.com ...
Good grief...if these illegals used someone else’s SS number, the real holder of that number will have a foreclosure on his record and ruined credit. This is not a victimless crime.
These illegals are not “good citizens” because they are not citizens at all, and they have no right to expect help to keep a home they are not entitled to in the first place. I guess that never occurred to the writer of this article.
You would think even our government-sponsored mortgage bailouts would just go to citizens. Ugh.
Any bank that grants such a mortgage needs to have its charter revoked.
Situations like these are exactly the reason why identity theft is so rampant in the USA. There seems to be no reason or incentive at all for a bank to operate in a more cautious manner when it does business. If a bank suffered real consequences as a result of identity theft, then you would see this problem disappear overnight.
Exactly, they do anything to approve a loan. Banks have access to programs that can verify social security numbers. I process rental applications for apartments and I verify every ss#.
‘Good’ anybody wouldn’t miss 3 months of mortgage payments without contacting the lender with an explanation.
Wait - didn’t you get the memo?? Lenders have other means than the “traditional” credit-score to determine whether to lend hundreds of thousands of dollars over 30 years.
Illegal aliens should not be getting loans. If they are not here legally, they should not get the benefits of being an American, or legally here in America
We pay for illegal alienism in this case thru higher interest on loans we have, lower interest and return on investment, and higher service fees.
When selecting a Presidential candidate, we need to vette who is pro-illegal and who is pro-American....for many reasons
Loaning money to illegal immigrants isn’t necessarily a legal issue but an economic problem for the issuing bank. In this particular case, the bank may get its money back: if the borrowers do not repay the loan, the bank can and will compel the Social Security Number holder to pay back the loan in full with penalties and interest and will foreclose on the house in question. But what if the house isn’t worth the value of the loan, and the bank cannot locate the Social Security Number holder (or such person does not exist)? Then the bank will go through more nebulous channels. Can they pin the lien on whosoever buys the house from them after foreclosure without prior notice?
And that's the exact type of 'reactionary" situation our people in government refuse to be proactive about. Not only does the SS Admin have the number with the name, they also have the date of birth, sex and the issue date of that number to the individual. So, once again, the polticoho's defy common sense and continue to feed the public loads of manure concerning this issue.
Suppose they used 3-year old “Bob’s” SSN for the mortgage.
Iffen the bank reports the forclosure against Bob, isn’t that knowingly reporting false data—by the BANK?
Doesn’t Bob have a tort vs. the BANK?
Hello college tuition $, Bobby boy.
My wife and I knew a couple who’s credit was so bad - due to their own mismanagement - they had to use their five year old son’s SSN to get a phone (this was in the 1980’s).
We don’t associate with them - you can guess why - but I’ve wondered on occasion now that the son is an adult, what negative impact its had on him.
Mortgages to Illegal Immigrants Come Under Fire
Selling illegal immigrants the American dream
Mortgages for illegal immigrantsa
Bank of America and Citi seem to be two of the worst offenders.
IMHO, such ‘sub-slimy’ business practices by banks, mortgage companies, real estate companies, builders, contractors, etc. is willful negligence, fraud and conspiracy to commit fraud. When lenders (and the loan originators) refuse to verify applicants identities to be factual and at the same time have the means to do so, isn’t that willful negligence and fraud? No to mention, the apparent government’s support of the whole pot of shenanigans.
Would there ever be a legitimate reason for a bank to grant a mortgage to a child? It is too bad that the people who approve these loans don't end up in prison for wrecking other peoples' lives.
No kidding. Your links show even more proof that this "mortgage mess" is a crisis manufactured by the lending industry.
ping
Not nearly as much as 18 formative years with such parents
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