“For example the current sub-prime meltdown is primarily the result of loans to illegals and/or those who house them.”
A friend of mine is a lender. From 2003 through 2006 they made a boatloads of mortgage loans to Mexicans. No proof of green card needed. For the past 6 months this person estimates the numbers of Mexicans even applying for loans at their location has dropped by 75%.
Methinks it has a lot to do with their mass employment sources going out of business: volume builders and landscaping companies, as well as the new lending regulations.
>>>>>From 2003 through 2006 they made a boatloads of mortgage loans to Mexicans. No proof of green card needed.
It’s a deep dark secret (as with all things pertaining to citizenship), but yes it is leaking out that a huge amount of the subprime lending was to illegals.