[DemonDeac]

Thankfully we can trust that an Obama or McCain administration will fight just as hard as our current one on illegal immigration. :(

[Sherman Logan]

The number sounds quite high to me. That would be one fraudulently obtained mortgage for a little over every two illegal immigrants.

[BGHater]

Ah, the Legacy continues.

[sasafras]

Our government has been overtaken by leftists from both the GOP and the Rats bump.

I live in Tucson - the number of houses listed for sale in the predominantly hispanic and illegal alien areas is unbelievable - house after house - and yet our local media refuses to explain how the American public were duped.

[GOPJ]

bump

[Tarpon]

Now we see what the AMNESTY was all about. My guess is everyone knew what was going on, but the people that now have to pay the bills.

Why not, the banks were handing out free money.

[ConservativeMind]

Was this just this one state that didn’t allow proof of ID?

Amazing.

[stboz]

Mortgage payment?! We don’ make no steenkin’ payment!!

[DBrow]

This number seems made up. While there are illegals mentioned on the HUD website, the 5 million number does not come up.

There are several individual cases, and cases of brokers breaking the law by having illegals submit false SSNs, but they don’t add up to millions.

Until someone can confirm this, this story should NOT get legs.

Any other researchers take a look?

[theBuckwheat]

During WW 2, the US built a road over 1000 miles long from the US to Alaska in less than 1 year. If we had built a border barrier, it would have gone a long way to slowing the flood of Mexicans.

Yet there is a bigger failure of government: there are a number of agencies that get the payroll deposit data. At the very least the IRS gets it as well as the income tax agency in each state that levies a tax on incomes. So on a variety of levels, both STATE and FEDERAL governments have data that could be matched with other records to at least highlight employers with patterns of suspicious employees that seem to be employed at the same time elsewhere.

This is SHAMEFUL. These people should not be here in the first place. Employers should not be able to employ and they should know that government will soon investigate fully employee filings.

[freeplancer]

If this is true, than it is proof that there at least 50 million illegals in this country. Don’t they live like 50 in one house?

[rabscuttle385]

One illegal alien was arrested this year in Tucson after allegedly using a stolen social security number to buy two homes and rack up over $780,000 in bad debt.

Some five million fraudulent home mortgages are in the hands of illegal aliens, according to the U.S. Department of Housing and Urban Development.

Let's all join in giving Juan a round of applause!

The Juan McCain Truth File. "I have great respect for Al Gore." —John McCain, October 2, 2008 FR Keywords: mccaintruthfile, mcqueeg, mcbama Please tag all relevant threads with the aforementioned keywords. This can be a very high-volume ping list at times. To join the ping list: FReepmail rabscuttle385 with the subject line add  mccaintruthfile. (Stop getting pings by sending the subject line drop mccaintruthfile.) Republican Commissar’s Warning: By joining this ping list, you may be subjected to the delusional rants and ramblings of McCainiacs, of "moderate" Republicans, of pragmatic conservatives resigned to voting for the lesser of two Democrats, and of countless GOP shills who simply want to meet a new overlord. Per FR posting rules, please be civil and polite in your comings and goings.

[KoRn]

That’s a bunch of mortgages!

I wonder if McCain would buy those up along with the rest he promised to buy.

Insanity reigns!

[Doctor Don]

The lenders are really stupid. The DemonRATS have caused this by requiring lenders to make loans to unworthy borrowers....Barney Faggot Franks and Chris Dodd are the chief culprits!

[Bullish]

It’s pretty hard to blame the illegals for this. If banks left piles of cash out what do ya’ think would happen?

If you left the lid off the cookie jar in a room full of kids what would happen?

Our govt. purposely left the lid off the cookie jar.

[MurrietaMadman]

Sounds pretty odious to me.

http://www.odiousdebts.org/odiousdebts/index.cfm?DSP=subcontent&AreaID=3

Or even (gasp) conspiratorial!

http://volokh.com/posts/1216060102.shtml

[Iron Munro]

No problemo.

President McCain will just buy these bad mortgages right up so the poor illegals can live in their McMansions on our tax dollars.

[ought-six]

Madness.

[lonevoice]

Some five million fraudulent home mortgages are in the hands of illegal aliens, according to the U.S. Department of Housing and Urban Development.

This should be a scandal of the same magnitude as Fannie Mae & Freddie Mac. But it won't be.

[Morgana]

Okay..............who do we punch in the face this time?

[Chicagofore]

I buy foreclosures in the Chicago area. I can tell you without doubt that there are a lot of illegals that have props in FC. However they are not solely to blame.

Most are very hard working, strong Christian families that want a better life and got wrap up in greed and scams.

[PGR88]

Wow - we only had Carter for 4 years, 30 years ago, and we are still paying for the infection he gave us!!

[gubamyster]

ping

[AuntB]

“Some five million fraudulent home mortgages are in the hands of illegal aliens, according to the U.S. Department of Housing and Urban Development.”

People have been asking for the last week how many of these sub primes were held by illegals...well, here’s the answer.

[skeeter]

A few days ago I freeper challanged me to prove that a very high number of fraudulent mortgages were given to illegals.

I cited common sense, but he didn't buy that.

Here's your proof, David-whatever your handle is.

[ZULU]

Muchas Gracias Senior Jorge Bush.

Another TRIUMPH for the Administration of Illegal Alien inclusion!!!

[PapaBear3625]

Interesting scam. Buy home after home for no money down, put people in them, collect rent, don't pay mortgage.

By the time it's foreclosed, you have made a nice profit, you didn't use your real identity (so good luck finding you) and you disappear.

[TomGuy]

Fraudulent Mortgages Held by Illegals

And many of those were price+ loans, where the potential buyer got more $$$ and the value of the home. Then, after a while, many of them defaulted and left the country. Home prices fell. The lenders were left holding over-priced loans that exceeded the original home value, plus plummeting home prices.

[Those are the homes that McCain wants to revalue, per his revelation at last night's debate. And guess who makes up the difference?]

[Miles the Slasher]

Let’s send the bill to the Mexican government.

[CodeToad]

And HUD and Fannie and Freddie knew about every single one of them.

[Freedom_Is_Not_Free]

I’m shocked, shocked to find learn that illegal aliens owned home in America! Shocked, I tell you!

[dennisw]

Some five million fraudulent home mortgages are in the hands of illegal aliens, according to the U.S. Department of Housing and Urban Development.

I'd love to see confirmation of this. I doubt HUD would even release such a number

[dennisw]

Some five million fraudulent home mortgages are in the hands of illegal aliens, according to the U.S. Department of Housing and Urban Development.

Highly doubtful. I'd love to see confirmation on this one

[headstamp 2]

“The problem began years ago when banks were forced to give mortgages without confirming social security numbers or borrower identification.”

Brought to you by a totally useless government. All they know how to do is FUBAR and then rape the taxpayer.

[Straight Vermonter]

There are less than 50 million mortgages in he US. So 1 in ten is held by an illegal?

[RobRoy]

>>One illegal alien was arrested this year in Tucson after allegedly using a stolen social security number to buy two homes and rack up over $780,000 in bad debt. <<

Well, wher’d the money go? I’m guessing to real estate agents and builders and their employees. Basically the IA only got debt. Since he is evicted he really suffered no loss. Money went from the hands of one company to another, and he got to live in a nice house for a while.

[PLMerite]

All the hoops I had to jump through in 2003 just to refinance my house and illegals can buy homes?

Man, Atlas needs to shrug real hard.

[kempo]

Doesn't this sound like part of the “motor voter law” the Clintons pushed through?

[Tennessee Nana]

The problem began years ago when banks were forced to give mortgages without confirming social security numbers or borrower identification. As a result, illegal immigrants were able to obtain home mortgages which they could not afford.
_______________________________________________

Hmmmmmmmmmmmmmmmmmmmmmmmmm

I dont remember this happening the 2 times I got a home loan...

[NewRomeTacitus]

NRT: Let Fannie and Mac foreclose on the “needy” tenants. You’ll find at least half of those tenants scurrying back over the border while actual citizens get a deal on a home to call their own. A big Hell No to the bail-out.

muawiyah: I thought the numbers I used were demonstrative of something very important ~ namely that the amount claimed by Treasury far exceeds the largest debt the illegals could have generated if all they'd done was buy up every dirt cheap house in America. We can be fairly confident that the overwhelming majority of the illegals live/lived in rental housing.

Well now you know.

[supercat]

If those five million mortgages lose $100,000 each, that would translate into $500,000,000,000 stolen from the people of the U.S. FIVE HUNDRED BILLION DOLLARS. Illegal aliens aren’t really a problem!?

[BigDaddyTX]

Isn’t it nice to know that we help fund his efforts?

http://thomas.loc.gov/cgi-bin/query/F?c110:5:./temp/~c1109ELV8i:e647497:

H.R.3221

Housing and Economic Recovery Act of 2008 (Enrolled as Agreed to or Passed by Both House and Senate)
SEC. 2401. HOUSING COUNSELING RESOURCES.

There are appropriated out of any money in the Treasury not otherwise appropriated for the fiscal year 2008, for an additional amount for the `Neighborhood Reinvestment Corporation—Payment to the Neighborhood Reinvestment Corporation’ $100,000,000, to remain available until December 31, 2008, for foreclosure mitigation activities under the terms and conditions contained in the second undesignated paragraph (beginning with the phrase `For an additional amount’) under the heading `Neighborhood Reinvestment Corporation—Payment to the Neighborhood Reinvestment Corporation’ of Public Law 110-161.

Check out their Grantees!!!!!
http://www.nw.org/network/nfmcp/documents/AwardeesbyGrantAmount-FINALforwebstie.pdf

Acorn, LaRaza...!!!

[mewzilla]

I was wondering if anyone would crunch the numbers. Thanks for posting this, HB!

[mylife]

I had heard that an illegal hispanic woman in Ca, without a job got a home loan for 500,000.

Rumor? It doesnt appear so.

[happinesswithoutpeace]

Crazy number sounds more like a ball park for all types of loans for illegals.

[TexasCajun]

My head is going to explode!!

Rush must mentioned this.

[skeeter]

You wanted proof - are HUD numbers good enough?

[RDTF]

Drudge has this up now

[mewzilla]

BTTT.

[RealtorKim]

Let’s not be mislead into thinking that a gun was put to the lender’s heads to “force” them to make sub prime loans without verifying social security numbers.... Some greedy, unregulated, unscrupulous lenders smelled money and took advantage of the loosening of requirements by Freddie Mac and Fannie Mae. If those lenders WANTED to verify the SS#’s, noone was stopping them from doing that!!!