Immigrants hit hard by slowdown, subprime crisis

Reuters ^ | January 30, 2008 | Adriana Garcia

[Psycho_Bunny]

Every cloud has a silver lining...

[Clintonfatigued]

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

[Clintonfatigued]

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

[aposiopetic]

illegal immigrants

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

[sheana]

Immigrants hit hard by slowdown, subprime crisis

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

[doorgunner69]

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

[spectre]

"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

[TCats]

"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.

[donna]

And almost half of the mortgage loans in the hands of Hispanics are subprime

How many are illegal aliens?

[slickdain]

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.

[Minipax]

[GOPJ]

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.

[rbg81]

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.

[SandRat]

..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.

[Centurion2000]

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.

[truthkeeper]

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

[SpaceBar]

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.

[Lobbyist]

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.

[Clintonfatigued]

I’ll be glad when Bush is gone.