I can't wait to see what the foreclosure rate will be. Maybe the back thinks that will earn them even more money.
Oops. That should have read "Maybe the bank..."
Actually... that's an interesting thought. Get them to put down some money, approve a less than what you think the value of the home is, and, when they default (say, someone gets "tipped off" that the address was bought by mortgage such as this and they get arrested) foreclose on the home. Man. And it isn't even illegal!
(Of course, the immigration would have actually go arrest them, but I'm sure they could be "encouraged" to do so).
when the forclosures begin, and the banks start building up a hugh supply of forclosed homes, they will hollar for the taxpayers to bail them out. clinton's former cronies are a part of citi bank. we still haven't got out of the home loan scandal that clinton and Raines perpetrated to the tune of billions. Will the teflon black president and his cohort presidential candidate hillary have anything to say about this? Oh yeah. Blame Bush. Bush caused it.
You can't foreclose or else you're racist for targeting poor undocumented Hispanics. Citiband will just appeal to the Feds for a bailout at some point.
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