My sister sold her basic 4 bedroom, 2 1/2 bath corner lot with pool for $75,0000 to Hispanic immigrants. The house is now being sold by the bank and no taxes have been paid since she sold it.
My own neighborhood has a couple of houses now owned by Hispanics. While I don't have a problem with them living here, the problem is that they are obviously taking in renters to try and make the payments. The number of cars in front of each house is the give away. And these are new cars. I guess they are just living the American dream until they go bankrupt.
Home-buying program has cash, controversy Undocumented residents being recruited for loans
ACORN. Citibank. Quelle suprise, eh?
Oops, that was $750,000 not $75,0000.
Not just California, but all over the country.
This was all part and parcel of George W. Bush's New Alliance Task Force, which was formed in May 2003 out of the Partnership for Prosperity agreement (with Mexico) signed September 6, 2001.
The primary purpose of the NATF was to relax lending rules to allow Mexican illegal aliens to obtain banking good and services, such as business, home and auto loans using nothing more than a Mexican Matricula Consular card as ID. Prior to the formation of the NATF, it was impossible for illegals to obtain these goods and services because they required a valid US driver's license and Social Security number.
As they stand now, every Tomas, Ricardo and Guillermo can buy a US house. Well, they used to be able to until all their compadres started letting their houses go into foreclosure when they couldn't meet the payments.
That's also the reason why Bush was pushing for the government bailouts. There's a whole lot more foreclosures like this one coming down the Rio Grande next year.