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Immigrants hit hard by slowdown, subprime crisis
Reuters ^ | January 30, 2008 | Adriana Garcia

Posted on 04/06/2008 2:41:28 PM PDT by Clintonfatigued

Although there is no formal tally, Mexican consular sources say a growing number of illegal immigrants across the United States are starting to pack their bags and return home.

Illegal immigrants were able to buy U.S. homes during the boom years, either by showing evidence that they pay taxes or by simply presenting false documents.

Many of them took out high interest fixed-rate loans or subprime mortgages with a low entry rate that later rose sharply. Experts say language difficulties made them more vulnerable to being offered, and taking, bad deals.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy
KEYWORDS: aliens; illegals; seeya; sobstory
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1 posted on 04/06/2008 2:41:29 PM PDT by Clintonfatigued
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To: Clintonfatigued

Every cloud has a silver lining...


2 posted on 04/06/2008 2:43:10 PM PDT by Psycho_Bunny
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To: neverdem; AmericanInTokyo; AuntB; fieldmarshaldj; cripplecreek; ExTexasRedhead; SwinneySwitch

In spite of the biased coverage in the article, it shows an undeniable link between open borders and the worldwide mortgage fiasco.


3 posted on 04/06/2008 2:43:38 PM PDT by Clintonfatigued (Those in the national Republican leadership do the work of three men- Moe, Larry, and Curly.)
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To: Psycho_Bunny

But they’re abondoning their overpriced homes and leaving their unpaid mortgages for others to clean up. This could get really bad.


4 posted on 04/06/2008 2:44:35 PM PDT by Clintonfatigued (Those in the national Republican leadership do the work of three men- Moe, Larry, and Curly.)
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To: Clintonfatigued
illegal immigrants

How un-P.C. of Reuters' editors to permit this turn of phrase to remain in the copy.

5 posted on 04/06/2008 2:44:39 PM PDT by aposiopetic
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To: Clintonfatigued

Immigrants hit hard by slowdown, subprime crisis

I am sure that headline should be....Illegal aliens hit hard by slowdown, subprime crisis.... *yawn*


6 posted on 04/06/2008 2:47:04 PM PDT by sheana
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To: Clintonfatigued

Sigh, the usual “Women, minorities hit hardest” crap from the MSM.................


7 posted on 04/06/2008 2:47:24 PM PDT by doorgunner69
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To: Clintonfatigued
"Illegal immigrants were able to buy U.S. homes during the boom years, either by showing evidence that they pay taxes or by simply presenting false documents.

Many of them took out high interest fixed-rate loans or subprime mortgages with a low entry rate that later rose sharply. Experts say language difficulties made them more vulnerable to being offered, and taking, bad deals.

"They were more exposed to abuse," said Alejandra Louden of the Congressional Hispanic Caucus Institute's housing department, which carried out a recent study on Latino home loan foreclosures. "Documents were in English and explained in Spanish, and some vital explanation would be missing."

Vulnerable? I don't think so...

sw

8 posted on 04/06/2008 2:47:26 PM PDT by spectre (Spectre's wife)
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To: Clintonfatigued
"leaving their unpaid mortgages for others to clean up."

Not to mention the blight and reduced values for the other housing in those neighborhoods where their foreclosed properties are located. It is not just the mess with their own properties that others are forced to assume responsibility for.

9 posted on 04/06/2008 2:48:16 PM PDT by TCats (The Clintons Are Not Just Wrong - They Are Certifiable AND Dangerous! See my Page)
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To: Clintonfatigued
And almost half of the mortgage loans in the hands of Hispanics are subprime

How many are illegal aliens?

10 posted on 04/06/2008 2:50:56 PM PDT by donna (Sticks and stones may break my bones but words will never hurt me.)
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To: Clintonfatigued

you gringos dont know us . we stay here to plunder the US like the drunken whore that you are. we will use the system that you built to robb you, abuse youand commit acts of crime. when we are done we will leave with your riches. what a pitty you are going into depresssion. we could have robbed you for years.


11 posted on 04/06/2008 2:51:21 PM PDT by slickdain (america belongs to mexico)
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To: slickdain

12 posted on 04/06/2008 2:54:21 PM PDT by Minipax
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To: Clintonfatigued
Illegal immigrants ... took out high interest fixed-rate loans or subprime mortgages with a low entry rate that later rose sharply.

They tried to game the system - now we're stuck holding the bag? Charming.

13 posted on 04/06/2008 2:56:33 PM PDT by GOPJ (The new Wall Street game: Privatize profits and socialize losses.Freeper Mad_Tom_Rackham)
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To: Clintonfatigued

Wonderful. And why, were banks so eager to make loans to people with no (or falsified) ID? Could it be Government pressure to keep that cheap labor flowing? Turns out that cheap labor is awfully expensive, isn’t it. Of course, some of us “xenophobes” have been saying this for a while. Now the chickens have come home to roost. I’m just surprised is starting to be reported truthfully.


14 posted on 04/06/2008 2:56:58 PM PDT by rbg81 (DRAIN THE SWAMP!!)
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To: Clintonfatigued
..Mexican consular sources say a growing number of illegal immigrants across the United States are starting to pack their bags and return home.

Good Riddance!

Don't let the barbed wire prick-ya, where the Good Lord split-ya, crossing back across the line into Mexico.

15 posted on 04/06/2008 2:57:21 PM PDT by SandRat (Duty, Honor, Country. What else needs to be said?)
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To: Clintonfatigued
Although there is no formal tally, Mexican consular sources say a growing number of illegal immigrants across the United States are starting to pack their bags and return home.

Good. Nasty third world barbarians don't belong here anyway.

16 posted on 04/06/2008 3:00:14 PM PDT by Centurion2000 (Party ahead of principles; eventually you'll be selling out anything to anyone for the right price.)
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To: Clintonfatigued

Okay...who’s got the little violin graphic handy?


17 posted on 04/06/2008 3:01:32 PM PDT by truthkeeper (It's the borders, stupid.)
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To: Clintonfatigued
In spite of the biased coverage in the article, it shows an undeniable link between open borders and the worldwide mortgage fiasco.

I'm not going to candy coat it.

George W. Bush should have been impeached shortly after the 2004 election when he took the mask off to reveal the stealth liberal with an "R" next to his name he always was.
18 posted on 04/06/2008 3:01:34 PM PDT by SpaceBar
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To: slickdain

Pleez!

We survived the bombing by 19 terrorists. We will survive this. This is the United States of America! We are the biggest dog on the porch!

BTW, you should watch “John Adams” tonight on HBO to understand our fortitude.

That’s assuming you still have cable.


19 posted on 04/06/2008 3:02:17 PM PDT by Lobbyist (I want my American dream!!!!)
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To: SpaceBar

I’ll be glad when Bush is gone.


20 posted on 04/06/2008 3:02:40 PM PDT by Clintonfatigued (Those in the national Republican leadership do the work of three men- Moe, Larry, and Curly.)
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