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Mortgage Prospects Dim for Illegal Immigrants
WSJ ^
| October 22, 2008
| Miriam Jordan
Posted on 10/22/2008 8:34:13 AM PDT by NCjim
Jose Luis Hernandez rose from vegetable chopper to sous chef at an exclusive New York restaurant -- and saved $100,000 along the way. Recently, the illegal immigrant from Mexico contacted real-estate agents in Brooklyn, N.Y., where he currently rents an apartment.
"I wanted to use my money as a down payment on a house," says Mr. Hernandez, 32 years old. In doing so, he sought to join thousands of undocumented workers who in recent years have purchased homes using an Individual Taxpayer Identification Number, or ITIN, instead of a Social Security number. The Internal Revenue Service doesn't give Social Security numbers to illegal immigrants; it issues ITINs, which enable them to open bank accounts and report their income to the government for tax purposes.
But Mr. Hernandez quickly learned that things have changed. He says he was told that, "unfortunately, if you don't have a Social Security number, you cannot buy property."
(Excerpt) Read more at online.wsj.com ...
TOPICS: Business/Economy; News/Current Events
KEYWORDS: aliens; housingbubble; illegalaliens; immigrantlist; immigration; mortagage; sobstory
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1
posted on
10/22/2008 8:34:13 AM PDT
by
NCjim
To: NCjim
To: NCjim
Mortgage Prospects Dim For Illegal Immigrants What a horrid country we live in.
Why anyone would want to live here, I can't imagine.
3
posted on
10/22/2008 8:36:52 AM PDT
by
Steely Tom
(RKBA: last line of defense against vote fraud)
To: NCjim
Jose Luis Hernandez rose from vegetable chopper to sous chef at an exclusive New York restaurant -- and saved $100,000 along the way. Recently, the illegal immigrant from Mexico contacted real-estate agents in Brooklyn, N.Y., where he currently rents an apartment. Wonder what his cost to the taxpayer was...
4
posted on
10/22/2008 8:36:54 AM PDT
by
2banana
(My common ground with terrorists - they want to die for islam and we want to kill them)
To: NCjim
uh, yeah
try going to mexico or any other country and buy houses as an illegal alien.
5
posted on
10/22/2008 8:37:10 AM PDT
by
television is just wrong
(The Democrats have lost cabin pressure and the oxygen masks have dropped.)
To: NCjim
“unfortunately, if you don’t have a Social Security number, you cannot buy property.”
Sounds like a plan.
Btw, illegal, check with Bank of America. They might hook you up.
6
posted on
10/22/2008 8:37:13 AM PDT
by
BGHater
(The GOP, the new DNC.)
To: NCjim
Mortgage Prospects Dim for Illegal Immigrants It's about time!
7
posted on
10/22/2008 8:38:03 AM PDT
by
ExSES
(the "bottom-line")
To: NCjim
Mortgage prospects should be zero for illegal aliens!
8
posted on
10/22/2008 8:38:15 AM PDT
by
Two Kids' Dad
((( Barack 0bama = Peter Keating )))
To: NCjim
GOOD!!!!!!!
If he's made that much money, he needs to head down to the local immigration office and OBEY AMERICAN LAWS
and apply for citizenship!!! It doesn't cost $100K, he'd still have money AND a SSN AND then he could legally buy a house!!! [shaking head at absurdity of it all]
9
posted on
10/22/2008 8:38:27 AM PDT
by
pillut48
(CJ in TX --Soccer Mom and proud Rush Conservative voting for the McCain/Palin ticket now!!)
To: NCjim
Was he able to save that $100,000 because he was not paying taxes?
10
posted on
10/22/2008 8:38:35 AM PDT
by
onlylewis
(libs want a two class system, one rich one poor)
To: NCjim
The Internal Revenue Service doesn't give Social Security numbers to illegal immigrants; it issues ITINs, which enable them to open bank accounts and report their income to the government for tax purposes.
Yet we can't find them to deport them.
11
posted on
10/22/2008 8:38:37 AM PDT
by
cripplecreek
(Paying taxes for bank bailouts is apparently the patriotic thing to do. [/sarc])
To: NCjim
My stepson and his family are moving in with his Grandmother because his construction work has slowed down so much he cannot even afford an apartment. And I’m suppoesd to feel sorry about this?
12
posted on
10/22/2008 8:38:50 AM PDT
by
Hildy
To: NCjim
Not to worry, Dems will change all that if they get control of the WH.
13
posted on
10/22/2008 8:40:13 AM PDT
by
hershey
To: NCjim
14
posted on
10/22/2008 8:40:37 AM PDT
by
Maceman
(If you're not getting a tax cut, you're getting a pay cut.)
To: 2banana
Yup, I imagine he could save money because he and his family had free health care at the county clinic/hospital, free/cheaper tuition at schools/colleges, and food stamps, etc.!!
Shoot. If I had all the free stuff illegals get, I could save up $100K for a new house too!
What is WRONG with this picture?!?!?!?!
Arrrrrrrggggggggghhhhhhhhh!!!!!!!!!!!!!!
15
posted on
10/22/2008 8:40:38 AM PDT
by
pillut48
(CJ in TX --Soccer Mom and proud Rush Conservative voting for the McCain/Palin ticket now!!)
To: NCjim
Jose Luis Hernandez rose from vegetable chopper to sous chef at an exclusive New York restaurant -- and saved $100,000 along the way. Recently, the illegal immigrant from Mexico contacted real-estate agents in Brooklyn, N.Y., where he currently rents an apartment.He needs to quit whining and spend some of his money on good immigration lawyer to get himself legal. Once he does that, then he look into buying a home.
16
posted on
10/22/2008 8:40:58 AM PDT
by
Huntress
(If you have a chip on your shoulder, you think everybody's trying to knock it off.-AnAmericanMother)
To: Hildy
Dude’s a victim of discrimination because they want him to have a legal social security number—just like those poor widdle voters who can barely get through the day to go down to the DMV to get a FREE ID card for voting—it’s discrimination! Mortgage suppression!!! Housing disenfranchisement!!!! Run for the hills!!
Crazy thing is, he’ll probably sue the govt and win because some insane liberal judge will agree with him, and award him a million dollars in damages due to ‘pain and suffering’!
/sarc
17
posted on
10/22/2008 8:43:45 AM PDT
by
pillut48
(CJ in TX --Soccer Mom and proud Rush Conservative voting for the McCain/Palin ticket now!!)
To: onlylewis
Was he able to save that $100,000 because he was not paying taxes? That along with not having to pay for medical bills or insurance.
18
posted on
10/22/2008 8:44:13 AM PDT
by
bkwells
(Liberals=Hypocrites)
To: NCjim
19
posted on
10/22/2008 8:44:53 AM PDT
by
fso301
To: NCjim
Go back across the border and you can probably buy a good chunk of Mexico for $100k. Take some illegal friends with you, too.
20
posted on
10/22/2008 8:45:29 AM PDT
by
Right Wing Assault
("..this administration is planning a 'Right Wing Assault' on values and ideals.." - John Kerry)
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