Posted on 03/13/2006 2:42:43 PM PST by bordergal
The San Diego housing market is one of the most expensive in the country and many first-time home buyers are simply priced out of the market. Even if you can somehow scrape together enough money for a down payment, rising interest rates and mortgage insurance make it exceedingly difficult to become a homeowner. That is, unless you happen to be an illegal alien.
If you are in the country illegally, dont have a valid social security number and use a taxpayer ID number instead, youre in luck. The Association of Community Organizations for Reform Now (ACORN) has persuaded Citibank, one of the nations largest banks, to help out. Illegal aliens in San Diego can purchase a home at below market interest rates, receive down payment assistance, and not have to take out mortgage insurance like other risky customers do.
A similar program instituted by Wells Fargo in the Los Angeles area attracted bad publicity, so Citibank is trying to keep quiet the fact that illegal aliens can get better deals on home mortgages than citizens. The position of the banks is that as long as there is a buck to be made off of illegal aliens, they are going to keep marketing to them. As Chuck Lemoine, a senior vice president at Wells Fargo said, Its not only the right thing to do, its good business.
Citibank (West) FSB PO Box 348480 Sacramento, CA 95834-8480
Wont matter they will get govt backed loans for both purchases and repairs...and probabaly federal insurance.. and just keep selling the property over and over and over and over...
imo
Give it time amigo.....all the ingredients are in place. I'm sure you're aware the FR thread that busted a Mexican fake ID ring in CA that was involved with distributing millions of fake ID's.......all of which I'm sure were just for library books.
I draw the line when I see my tax $ going to people who don't give a crap about this country.....we have enough homegrown criminals so why import more?
Making false statements on a home loan application is a federal crime: http://www.ca9.uscourts.gov/ca9/newopinions.nsf/04485f8dcbd4e1ea882569520074e698/50201e5b1d8a7ab988256e5a007187c1?OpenDocument
You think most meth labs are owned by upstanding U.S. citizens?
OK, I'm curious. What is the penalty for pretending to be an illegal alien and taking their benefits?
Are you going to make false statements on the home loan application, like RHINO369 above?
Illegals can afford to buy homes here (Calif). I have a real estate friend. She says that when the documents are all drawn up that there are 6-10 people on the loan docs.
Husband-wife/grandma-grandpa/aunt-uncle
They will combine all their incomes to qualify them, of course they all usually live in the one house too.
The whole thing is pathetic.
More good news. |
Is it "pathetic" that the bank is following EVERY federal law and regulation?
That's what I don't get. You have people claiming that a bank is lending to a) bad credit risks at b) preferred interest rates. Why would they do that? You'd almost think this was made up specifically to make people feel they've been unfairly treated in their own mortgages and to blame immigrants.
And oh, gee, was this posted from an anti-immigration activist group? You don't say.
Could have something to do with the fact that there are 6-10 people on the loan docs (i.e. Husband-wife/grandma-grandpa/aunt-uncle) and they will combine all their incomes to (over?) qualify them?
They APPEAR to be upstanding until they're caught.....so what's your point? Many illegals APPEAR to be here to do the "work Americans won't do" (or so we're told) but a significant % end up in prison for rape, murder, theft drugs, etc.....once again, we have enough homegrown criminals, why import more? Just think ( as hard as it is) that if we didn't have the feds chasing the illegal drug gangs maybe, just maybe they could have more resources to go after the meth labs?
Maybe you can sell it on eBay?
This picture stinks.
My "point" is that you are singling out only one class of criminals that you want to "deputize" Wells Fargo (pun intended) and /or Citibank and then charge them for "aiding and abetting" if they don't catch them - why is that?
A. Travel to Mexico. B. Go to US Embassy and renounce your citizenship. C. Cross border back into US.
One other requirement to get into one of these government "trailer homes without wheels": Bring at least five other families, maybe more, depending upon the size of house in question and apply for as many social security checks the government will allow and begin your new life, compliments of Bush!
If the applicant cannot produce legitimate documents to absolutely prove citizenship, income, etc. there's reason to believe the person is illegal.......by rights they should be turned away but if the bank continues with a loan they may be liable for 'aiding and abetting', which will be determined by appropriate authorities. If a meth lab owner came in for a loan to expand production and the bank determined through it's due diligence that he's engaged in an illegal activity, one would assume they would contact authorities.......same as they should if they became aware of someone trying to forge a check or pass counterfeit money......how hard is that to figure out?
No social security number.
Want to make a difference?
Call the Senate Judiciary Committee and tell them no amnesty, no guestworker program.
Senate Judiciary Committee:
Sen. Arlen Specter (R-PA) - 202-224-4254
Sen. Orrin G. Hatch (R-UT) - 202-224-5251
Sen. Charles E. Grassley (R-IA) - 202-224-3744
Sen. Jon L. Kyl (R-AZ) - 202-224-4521
Sen. Mike DeWine (R-OH) - 202-224-2315
Sen. Jeff Sessions (R-AL) - 202-224-4124
Sen. Lindsey O. Graham (R-SC) - 202-224-5972
Sen. John Cornyn (R-TX) - 202-224-2934
Sen. Sam Brownback (R-KS) - 202-224-6521
Sen. Thomas A. Coburn (R-OK) - 202-224-5754
Sen. Patrick J. Leahy (D-VT) - 202-224-4242
Sen. Edward M. Kennedy (D-MA) - 202-224-4543
Sen. Joseph R. Biden (D-DE) - 202-224-5042
Sen. Herbert H. Kohl (D-WI) - 202-224-5653
Sen. Dianne Feinstein (D-CA) - 202-224-3841
Sen. Russ Feingold (D-WI) - 202-224-5323
Sen. Charles E. Schumer (D-NY) - 202-224-6542
Sen. Richard J. Durbin (D-IL) - 202-224-2152
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