“Exclusive: How Many Subprime Mortgages Were Awarded to Illegal Aliens?”
I’m guessing it’s a pretty small number. There were many loans made to unqualified people that are US citizens. That’s the problem..
““Exclusive: How Many Subprime Mortgages Were Awarded to Illegal Aliens?”
I’m guessing it’s a pretty small number. There were many loans made to unqualified people that are US citizens. That’s the problem..”
One is too many. These policies were made for and by organizations like LaRaza, who Fannie Mae and others contribute millions to every year. BAC, Wells Fargo, WaMu all made a big play a couple years ago for these illegal alien customers. There are thousands of them.
Bank of America to offer bank accounts, credit cards to illegal immigrants
[snip]
Fifty-one branches of Bank of America in Los Angeles County are launching the promotion.
Bank of America says they are simply going after an existing customer base in the Los Angeles area.
http://www.wwaytv3.com/node/396
And each one can walk away from their mortgage leaving the person they stole the SSN from left to battle creditors.
I think the number is huge. Law enforcement runs into these people every day.
Maybe there in the heartland.
Where I live is a different story & you have no idea...
While you may be right, I’m not so sure.
We have no laws against illegals purchasing homes to my knowledge.
We don’t seem to report them when they surface.
We did have credit agencies willing to lend money to just about anyone who wanted to fill out the paperwork (evidently).
I may be dead wrong, but it wouldn’t surprise me at all if we had many illegal alien home loans out there, and that they contributed to this mess.
Now, did we have a large group of citizens doing the same thing. That we do know for sure, and the answer is undeniably yes. Yes, damn it, we did.
The numbers are tremendous. The Plan to cover their downpayment DREAM came straight from Congress to get these people into houses so that would create a need for more new homes. They worked in the construction field, also a part of the Plan, just not written out. Bush needed to keep the economy going strong to cover the deficit trade with China and this is one of the steps he used.
There’s plenty of reason to believe some of this mortgage mess is because of illegal aliens and their supporters.
Lenders use looser credit rules to tap into illegal immigrants ...
Immigrants struggle with illegitimacy — Many illegal immigrant families came ... Even before banks offered mortgages, illegal immigrants found ways to buy ...
www.chron.com/disp/story.mpl/metropolitan/3504974.html
Citibank Offering Illegal Aliens Mortgages With Below Market ...
Citibank has been offering illegal aliens mortgages by using Taxpayer ID numbers ... many in-depth studies that show the cost-benefit of illegal aliens. ...
www.diggersrealm.com/mt/archives/001610.html - 86k
Mortgages for Illegal Aliens Encouraged by FDIC
Aug 3, 2005 ... Mortgages for Illegal Aliens Encouraged by FDIC. Diane M. Grassi ... as many decent blue collar jobs go directly to the illegal population ...
www.commonvoice.com/article.asp?colid=2501
Mortgages for illegal immigrants - BusinessWeek
Jul 30, 2007 ... It’s against federal law to induce an illegal alien to enter the U.S. .... the rise in mortgage fraud back in 2005—well ahead of many other ...
www.businessweek.com/the_thread/hotproperty/archives/2007/07/mortgages_for_i.html
BLACK VELVET BRUCE LI : Illegal Aliens And The Sub-Prime Mortgage ...
May 13, 2008 ... A 25-year veteran of the mortgage industry in California confided to me recently: “It boggles the mind to think how many illegal aliens are ...
www.bvbl.net/index.php/2008/05/13/illegal-aliens-and-the-sub-prime-mortgage-meltdown/
Selling illegal immigrants the American dream
Jun 15, 2006 ... Opponents of illegal immigration deplore mortgages for ... The program acknowledges the reality that many Latino immigrants do not have much ...
www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2006/06/15/MNGRMJEGM81.DTL
Banks help illegal immigrants own their own home - Aug. 8, 2005
While Schumer wasn’t willing to disclose how many of mortgages the company ... many illegal immigrants use this form of identification to pay U.S. taxes and ...
money.cnn.com/2005/08/08/news/economy/illegal_immigrants/index.htm
Feds Encouraging Illegal Aliens to Get Mortgages
Feds Encouraging Illegal Aliens to Get Mortgages. NewsMax.com Wires Wednesday, July 20, 2005. While it’s illegal to hire undocumented workers, ...
archive.newsmax.com/archives/articles/2005/7/20/125223.shtml
The Seattle Times: Business & Technology: Mortgages for illegal ...
Nov 16, 2006 ... Mortgages to illegal immigrants were rare in 1999 when he closed on ... Among the nation’s estimated 12 million illegal immigrants, many of ...
seattletimes.nwsource.com/html/businesstechnology/2003433010_mortgage16m.html -