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.
The banks love illegals and the politicians who support their interests in keeping the border open.
That's why this is such a hard fight. Look who we're up against.
Protect our borders and coastlines from all foreign invaders!
Support our Minutemen Patriots!
Be Ever Vigilant ~ Bump!
What "form" of treason could it be if it is COMPLETELY legal?!
I quit them and told them why. Pointed to the little sticker that boasted they accept the phony ID's and told thtem "close my account, gimme my money."
Good luck changing the 14th Amendment to the U.S. Constitution as well.
Boycott!
That makes you an All American Girl ;-)
I think there is a real grey area there that they are exploiting. By the way, what is your opinion of this business arrangement?
Again, a boycott is certainly your prerogative - I'm sure they will more than make up for your business with the 19 million illegal immigrants in the country, not to mention the growing LEGAL Hispanic population that would rather bank at Wells Fargo than the one with a separate line and identification process for everyone who is not lilly white.
There's NO gray area until there is, you know, an actual law passed prohibiting the American dream (you think homebuilders / lenders are ever going to allow that?). As for what I think personally, if it is legal, in a free market society, more power to Wells Fargo. ¡Viva la libertad!
Exactly what I thought. you're not quite a traitor, but you do qualify as a collaborator. Please tell your illegal kin to get out of the country. Thanks.
Naw, just change the politicians.
"Collaborator" in perfectly legally transactions - interesting that you assume I have any illegal kin though - perhaps this is exactly the attitude Wells Fargo is seeking to avoid?
Naw, just change the politicians
Good point. I seem to remember a savings and loan debacle called "Silverado". Tell me was the "Bush" involved related to George? (sarc). If many of these illegal trespassers are required to go home and default on their loans we as tax-payers can in no way be held liable .... right? (sarc). Run em on back to Mexico!!!
Changing politicians will not amend "All persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States and of the State wherein they reside. No State shall make or enforce any law which shall abridge the privileges or immunities of citizens of the United States; nor shall any State deprive any person of life, liberty, or property, without due process of law, nor deny to any person within its jurisdiction the equal protection of the laws." That would take another Constitutional Convention or 2/3 of both Houses of Congress to propose and 3/4 State Legislatures to ratify.
To be honest I could take the time to deconstruct your fallacious arguments, but what's the point? You live in some dream world where laws don't apply to illegal immigrants, so you're really beyond saving at this point.
Wells Fargo Offers Home Loans To Illegal Immigrants
KFMB News San Diego
Last Updated: 01-19-06 at 8:03AM
Wells Fargo Bank has raised some eyebrows for a new program that gives home loans to illegal immigrants.
The bank's Celebrate Home program is aimed at what it says is an untapped market in real estate.
Wells Fargo said the program meets all federal guidelines.
Critics said banks should not reward people who have broken the law by coming to the U.S. illegally.
Five years ago, Wells Fargo began allowing customers to use Mexican I.D. cards to open checking and savings accounts.
Who again is making the fallacious arguments about dream worlds and who has illegal kin? If Congress passed a law today and Bush signed it tommorrow outlawing home loans to illegal aliens, then I would be against Wells Fargo providing home loans to illegal aliens - it's as simple as that.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.