I know that home ownership by ILLEGAL aliens is not germane on this current thread.
http://freerepublic.com/focus/f-news/972485/posts?q=1&&page=1
But this old thread contains a column by Michelle Malkin with very useful info. Get this
"The Denver metro area alone accounted for 20,000 to 40,000 of the FHA-approved loans for suspected illegal aliens. 'Even if a small percentage of the loans were foreclosed, HUD could be bankrupted,' the homeland security official said. . .
"A spokeswoman for the U.S. General Accounting Office told me this week that the agency's office of special investigations plans to report on the results of the probe later this fall. But 'considering the size of Los Angeles, New York, Chicago, Houston, and other large cities throughout the United States known to be inundated with illegal aliens,' says my source, 'I don't think the federal government is willing to expose this problem for financial reasons as well as for fear of political repercussions.'" [End excerpt]
You see, Federal Housing Administration-approved loans through the U.S. Department of Housing and Urban Development do not require lenders to obtain proof of citizenship or legal permanent residence. These FHA/HUD programs, primarily targeting minorities and first-time homebuyers, are federally insured and require minimal down payments.
Throw in USDA's rural housing programs, too.
On second thought, Ms Malkin's column is germane to this thread.
HUD could be bankrupted?! The federal government is NOT willing to expose this problem for financial reasons as well as for fear of political repercussions?!
Folks, the Border Patrol is superfluous. Those who support its mission to protect the borders are enemies of the state's economic wellbeing. Assume the French troops' position. Stick a fork in us. . . .
It's not just "cheap" labor and votes.
If all the illegal aliens are allowed to stay, our whole country will be bankrupted.
We're almost $50 trillion dollars in debt as a Nation, now.
Congress has poured money into the BP since Clinton's second term. They have shown themselves to be ineffective for various reasons...the main one I believe is that they are not allowed to hold illegals for any extended amount of time. We should build prisons for repeat offenders.