I find this story hard to beleive. Who would lend money to an illegal alien? The default rate would be massive.
I am not going to say it. (What I really feel that is) I am not going to get banned for it. But, Just Damn this is wrong.
What a scam for islamees.
"In addition to accepting ITINs, banks are being flexible when they look at credit reports, since many immigrants don't have a traditional credit history. For instance, say lending sources, the bank may consider rent and utility bill payments, or a history of sending money to family overseas as evidence that a customer is a good risk."
How is this fair?! My husband and I have a few blips (hehe) on our credit and are now trying to repair it so that we can get a house...even the VA Loans go by your credit report. Grrrr!
There are now enough illegal aliens in this country from Mexico to establish an economic and political power base. Without summarily deporting them, or keeping them from working, voting, entering into contracts or purchasing property, it will be impossible to stop the flow. They will ultimately become a special interest group which places foreign interests above American interests, if this hasn't happened already. We are being invaded and plundered by a foreign country without firing a shot. By the time the liberals figure out that they've let a Trojan horse inside the city gates, it will be too late. Even a delcining Rome knew better than to welcome the Goths into its cities.
Can you please not click on all 50 states with the topic? Thanks in advance.
ping
Freddie Mac (& Fannie Mae) are already in questionable financial positions. They don't need to back these shaky loans.
The The taxpayers would eventually have to bail them out like the S&L debacle.
Banks are going to get burned big time on this. They are already by letting wives get away with running credit card debt...