Posted on 01/24/2006 8:11:11 AM PST by Jhohanna
It's the American dream -- buying a home for your family. And now you don't have to be in the country legally to own one.
Wells Fargo is first major California lender to offer home loans to illegal immigrants, 10News reported.
"We're not required to ask the immigration status of any of our customers. That is the responsibility of the federal government," Wells Fargo bank representative Jerry Ruiz said.
The program is called "Celebrate Home" and Wells Fargo says it complies with all federal regulations, 10News reported.
Applicants do need a tax identification number issued by the Internal Revenue Service for people who do not have Social Security numbers.
Ruiz said the program is targeted to Wells Fargo customers who have been an account holder for at least six months and who can show proof of residency for two years in the United States -- along with proof that they have filed and reported income taxes using an individual taxpayer identification number.
There are an estimated 10 to 12 million illegal workers in the United States.
Critics say even though the program is legal, it sends the wrong message.
"Any time you have a bank institution lending money to help people buy homes when they're not even allowed to be in the country, it is something that runs contrary to the law. It aids and abets people who are breaking the law," said Ira Melman of the Federation of Immigration Reform.
A bill is being introduced in Congress that would make it illegal to issue loans to illegal immigrants, according to 10News.
No. Whether an applicant uses illegal drugs or not, is completely irrelevant to whether that bank actively solicits for his business or not. In the example in this thread, W-Fargo is actively soliciting business from criminals that are not even citizens of this nation. Nor do they have the same rights as an American citizen.
Now, my turn to ask a question.
If Wells Fargo actively solicits for the business of al-Qaeda cells here in the United States, is that illegal activity by Wells-Fargo - why or why not?
"Every bump to the thread means that 15 more casual lurkers will read this article, about unprincipled greedy traitors selling their country down the river for a fast buck."
bump
Banks are financing plenty of other criminals too - are we going after all of them now, or just the ones who are not white?
It is illegal, per the Patriot Act(s).
Well, we have apparently already elected our first Mexican president. That should nicely suit your multicultural allegiance.
Don't forget, Clinton was our first black president.
Is this a great country or what...
First off, let me straighten you out about Mexico, the ones in charge ARE WHITE. They are the Spanish who raped the Indians who give us the people who look like our illegals in front of Home Depots.
So, this isn't a non-white issue because the Spanish in Mexico are white for your information.
Look at Mexican TV in Los Angeles if you can, the Mexicans are very racist against dark colors themselves, there are only a few dark brown Mexican celebrities, they are for the most part all white, so if you want racists, look to within Mexico itself.
Yes, just like the laws since 1980 was supposed to stop unsecured loans and loans to drug dealers and such, illegals of all races and colors should most certainly also not have access to being loaned American capital.
We should also have Mexico give us billions a year in free oil for all the billions of education, medical and criminals of theirs we have to house in America. I figure about 15 billion or so a year in just California.
I'm hearin' you. I should talk to my aunt. She's in the mortgage business in FL. Hehehehe. It's just NUTS.
And that's the best. They know not what they do. :P
LOL - please let me know which of these 2 gentlemen are the WHITE AMERICAN PRESIDENT?
http://www.state.gov/cms_images/2004-11-21_bush_fox3.jpg
Comparing Nazi's to the current U.S. government is the strawman argument - perhaps you should read more carefully - sorry to "bump" your thread one minute after you did.
I think they are far more worried about a dark skin color than we are in America where we mostly don't care.
The "housing bubble" is just one more reason we cannot afford to deport 19 million people.
Bad loans (which we actually back) are going to put us in a horrible depression and this bunk like financing illegals is outrageous.
Looks kinda dark skinned compared to Bush, but that's not the topic of this thread . . . you have still not identified ONE law Wells Fargo supposedly violated.
Ewwwwww... and then I think about the Fannie Mae & Freddy Mac scandals. Does anyone really look at the pictures in front of them? Jeez, I'm kinda glad I didn't buy a house... right. I make darn good money, and *I* can't get a loan for $600k. Not without 20% down. How do they have a credit history without a Social?
Don't worry, they are going to get burned. I'm sure now going to pull my tens of thousands in that one bank to elsewhere thank you!
Owner occupied loans should be forbidden. Several foreign entities own property in the US and they have financing on them. And what about vacation homes with mortgages that are owned by foreigners. Any legislation would have to be crafted so as not to penalize foreigners with legitimate concerns.
If you think they won't make it up in business from 19 million illegals and all the rest of us legal Hispanics (you know, the ones you were so sure "They must require lots of drug money in cash as a down payment so when they foreclose there is a profit"), you've got another thing coming.
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