Question:
Where are all these people going after they move out of their homes? To apartments? These days you have to have good credit to rent don’t you? Any if they can’t pay their mortgage how do they pay for an apartment?
A lot of them are illegals going home.
Most subprimes going into foreclosure were issued to illegal aliens or the landlords of illegal alien dorm homes.
That’s right, MOST. Not all, but most were issued to illegals dwellings. One of the dirty little secrets of the mortgage collapse and the subsequent economy’s collapse is that the powers that be don’t want this known less it endangers their open borders/amnesty agenda.
Do you think Obama’s (or Bush’s) plan for amnesty would stand a chance if the word gets out that the current mess started with loans to illegals (illegal loans)?