Not really.
The illegal aliens lose nothing as they put no money down. They can simply walk away and they will not be any worse off than they were before.
The lenders lose nothing since they pocketed commissions after selling those mortgages to gullible investors, maybe even a fund manager in a mutual fund in your own 401K. The lenders were making irresponsible loans with other people's money to generate commission profits.
We, the taxpayers and the responsible people that did not play the Bubble Game, are the ones that lose with a dropping stock market, housing prices that are unaffordable without gimmick loans and prospect of Government bailouts promised by politicians of both parties.
If they pack up and leave, I don’t care.