Maybe interest free for the illegals but you can bet what the banks are losing on no interest loans will be transferred to other loan customers who will pay full freight.
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aka
wealth redistribution
aka
communism
interest free
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probably penalty free
( for non payment)
just like the relication immigration traveling welcoming loans.
“”The California Dream for All Shared Appreciation Loans program that launched last March by the California Housing Finance Agency offered qualified first-time home buyers with a loan worth up to 20% of the purchase price of a house or condominium. The loans don’t accrue interest or require monthly payments. Instead, when the mortgage is refinanced or the house is sold again, the borrower pays back the original amount of the loan plus 20% of the increase in the home’s value.””
I was going to ask what lenders are going to make loans to them? I guess this excerpt answers that...They’ve set up a State agency to do just that..AND no accrued interest or monthly payments...UNREAL! CA taxpayers won’t even realize they ARE the lenders!!
I would like to meet the genius who came up with this.....perhaps completed 2nd grade and still managed to get elected to office.