Yep...I know that some people here think every brown face they see is illegal, but even the immigration conservatives have noted that the crackdown post-collapse has resulted in a significant number of illegals voluntarily leaving. At the same time, looking at the front lines of the issue (ag business people looking for people to pick crops) see a significant decline in available workers. People without jobs or who can’t stay in the country don’t pay their mortgages.
What “crackdown post collapse?”
They’re still here in my neck of the woods and I see no indication of any crackdown whatsoever. Some may be leaving due to the economy weakening, but I see no coordinated effort by government at any level to force them to leave.
While in some parts of the country I'm sure your right about the illegals, it's not that way, near me in central Indiana.
Around here, people I know only make 40 to 50 grand a year are in 250k homes with 2 sometimes 3 new vehicles, 3 kids, 150 dollar sneakers and Home theaters. Am I jealous.......nope not at all I didn't saddle myself with that kind of debt.
I didn't creatively finance, take out a second mortgage and then max out every credit card I received "free" in the mail.
This isn't about immigration, its about instant gratification.
What I see are institutions like BofA bending over backwards to give illegals easy, subprime signature loans over the last couple of years. Now that construction work has dried up, they’re gone, taking their saved money with them, and leaving the loan to default with no negative consequences for them. What, you think they care about their ‘credit score’? They don’t even have a driver’s license!
Please. Spare us your sanctimonious sophistry.
The banks had no legitimate business lending these people money in the first place. Zero.
When I applied for my mortgage, the first thing they wanted was my legitimate Social Security Number. Another question was if I was a US citizen or here legally. None of these people met the first requirement much less the second. Lending to these people was like lending money to a criminal on the lamb who will run at the first sign of trouble. Yet the banks continued on their merry way to give these criminals whatever money they wanted.
The banks involved deserve to lose whatever money they gave these people. Additionally, their loan officers and managers should be sent to jail for either gross criminal negligence or aiding and abetting a fleeing criminal.
This has nothing to do with whether they "have a job" or not. Lots of criminals on the lamb have "legitimate" jobs. They are still criminals and miserably poor loan risks to boot.
The government is negligent, the banks are negligent, and We The People are negligent for electing such fools and allowing these shenanigans to go on in the first place.
Everybody in the know knew this was going on and anybody with half a brain knew it could not end well.
But the politicians were looking for some fast votes, the banks were looking for some fast money, and We The People were looking the other way so as not to offend anybody and be called a racist or nativist.
Illegal immigrants should not be here in the United States in the first place - much less taking out huge loans so they could rent out their overpriced homes by the bunk to other illegal aliens as flophouses to make the payments. Did anybody of sound mind really expect they would hang around when the music stopped.
We are all fools and will now reap what we sowed. We are all going to lose, big time, in this fiasco, except Juan (or whatever his name is but it is probably not the one on the mortgage application) who has absconded to who-knows-where!