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HUD: Five Million Fraudulent Mortgages Held by Illegals
KFYI ^ | OCT 7 2008 | KFYI

Posted on 10/07/2008 6:55:53 PM PDT by HollyButler

One illegal alien was arrested this year in Tucson after allegedly using a stolen social security number to buy two homes and rack up over $780,000 in bad debt.

Some five million fraudulent home mortgages are in the hands of illegal aliens, according to the U.S. Department of Housing and Urban Development.

It's not known how many of those have contributed to the subprime housing mortgage meltdown, but it has affected every state, including Arizona.

The problem began years ago when banks were forced to give mortgages without confirming social security numbers or borrower identification. As a result, illegal immigrants were able to obtain home mortgages which they could not afford.

One illegal alien was arrested this year in Tucson after allegedly using a stolen social security number to buy two homes and rack up over $780,000 in bad debt.


TOPICS: Business/Economy; Crime/Corruption; Front Page News; Government; Politics/Elections
KEYWORDS: 2008; acorn; aliens; bailout; criminals; democrats; economy; elections; fanniemae; financialcrisis; flipthishouse; frank; fraud; godschildren; godskidsmyass; housingbubble; hud; identitytheft; illegalalieninvasion; immigrantlist; kfyi; mcamnesty; mcbailout; mcbama; mccainsfolly; mccaintruthfile; mcqueeg; mortgagefraud; noamnestyforillegals; rino; subprime; votefraud; voterfraud
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To: Sherman Logan
My personal financial interests would be best served by an immediate expulsion of all illegal aliens.

How so?

141 posted on 10/08/2008 7:09:41 PM PDT by dragnet2 (We witnessed the biggest expansion of government in American history)
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To: dragnet2
I said I knew that many of them were Americans.

How do you know this?

142 posted on 10/08/2008 7:10:17 PM PDT by dragnet2 (We witnessed the biggest expansion of government in American history)
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To: Sherman Logan
I said I knew that many of them were Americans.

How do you know this?

143 posted on 10/08/2008 7:11:37 PM PDT by dragnet2 (We witnessed the biggest expansion of government in American history)
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To: dragnet2

Don’t care to get into it in detail, but I had to abandon an industry I was making money in when illegal aliens moved in and drove the amount I could charge well below my cost of doing business.

No problem. I switched to a related industry where I can guarantee uneducated illegals will never be competition.


144 posted on 10/08/2008 7:12:30 PM PDT by Sherman Logan (Everyone has a right to his own opinion, but not to his own facts.)
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To: muawiyah
NRT: Let Fannie and Mac foreclose on the “needy” tenants. You’ll find at least half of those tenants scurrying back over the border while actual citizens get a deal on a home to call their own. A big Hell No to the bail-out.

muawiyah: I thought the numbers I used were demonstrative of something very important ~ namely that the amount claimed by Treasury far exceeds the largest debt the illegals could have generated if all they'd done was buy up every dirt cheap house in America. We can be fairly confident that the overwhelming majority of the illegals live/lived in rental housing.

Well now you know.

145 posted on 10/08/2008 7:13:52 PM PDT by NewRomeTacitus (Bailiff - whack his peepee!)
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To: dragnet2

As stated earlier, I remember media coverage of school children and teachers, union members, members of various radical groups, etc. marching in “solidarity.”

At minimum, I think it would be unreasonable to assume that all members of these demonstrations were illegal aliens. While I don’t agree with them, I would assume a great many Hispanic Americans joined in out of ethnic solidarity.

If Linda Chavez, a pretty much down the line conservative previously, could fall prey to the siren call of ethnic solidarity, it is not unreasonable to assume that many other Hispanic Americans did the same.


146 posted on 10/08/2008 7:17:03 PM PDT by Sherman Logan (Everyone has a right to his own opinion, but not to his own facts.)
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To: Sherman Logan
My personal financial interests would be best served by an immediate expulsion of all illegal aliens.

How so?

Don’t care to get into it in detail,

Oh I see, you throw it out there, but decided you don't want to go there.

but I had to abandon an industry I was making money in when illegal aliens moved in and drove the amount I could charge well below my cost of doing business

Hmmm, move in where? What business?

147 posted on 10/08/2008 7:18:20 PM PDT by dragnet2 (We witnessed the biggest expansion of government in American history)
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To: Sherman Logan
I said I knew that many of them were Americans.

How do you know this?

148 posted on 10/08/2008 7:19:02 PM PDT by dragnet2 (We witnessed the biggest expansion of government in American history)
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To: Sherman Logan
In our “debate” on this thread, only you have made extravagant claims.
Only you have introduced purported “factual statistics” that actually tend to refute your original strawman argument.

You falsely claim outraged victim hood and persecution Sherman Logan.
It is obviously both unwarranted and dare I say it...yes, an obvious lie.
Perhaps you are not entirely used to operating in a forum that mercilessly tracks who said what to whom.

149 posted on 10/08/2008 7:19:41 PM PDT by sarasmom (McCain is in the tank for Obama.)
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To: Sherman Logan
First you stated you know a "Great many" were Americans now you say, "I would assume a great many Hispanic Americans joined in"

Which is it?

150 posted on 10/08/2008 7:21:56 PM PDT by dragnet2 (We witnessed the biggest expansion of government in American history)
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To: dragnet2

Specialty janitorial, if you insist. Maintaining floors in big-box stores such as Wal-Mart.

Average price per square foot for these services dropped by well over 50% in my area.

I couldn’t stay in the business unless I also hired illegals and exploited the cr*p out of them, so I found another way to make a living.

I hope that answers your question, because I feel no obligation to go into greater detail about my personal life and finances.


151 posted on 10/08/2008 7:22:14 PM PDT by Sherman Logan (Everyone has a right to his own opinion, but not to his own facts.)
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To: sarasmom
You falsely claim outraged victim hood and persecution Sherman Logan.

Where?

152 posted on 10/08/2008 7:23:53 PM PDT by Sherman Logan (Everyone has a right to his own opinion, but not to his own facts.)
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To: NewRomeTacitus
The maximum hit would be under $100,000,000,000 if illegal aliens had bought up every bottom end home in the country ~ and to do that to get through the first few payments (before defaulting) they'd had to have given up sending money down home.

They'd also have to stop eating.

153 posted on 10/08/2008 7:25:02 PM PDT by muawiyah
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To: Sherman Logan
I hope that answers your question, because I feel no obligation to go into greater detail about my personal life and finances.

You threw out a piece of meat, so ya better expect hungry animals to pounce on it.

So you owned your own company cleaning floors at places like Wallmart?

154 posted on 10/08/2008 7:30:20 PM PDT by dragnet2 (We witnessed the biggest expansion of government in American history)
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To: dragnet2

Yes. There’s more to it than cleaning, though. WalMart has a thing about their floors being shiny.


155 posted on 10/08/2008 7:34:52 PM PDT by Sherman Logan (Everyone has a right to his own opinion, but not to his own facts.)
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To: Sherman Logan
I couldn’t stay in the business unless I also hired illegals and exploited the cr*p out of them, so I found another way to make a living.

There were so many illegals in your industry, that they drove you out of business, yet your position here is that there are not as many illegals in the U.S. as most credible estimates indicate?

Hmmm..

Do you see something wrong with that statement and the position your taking on this thread?

156 posted on 10/08/2008 7:38:48 PM PDT by dragnet2 (We witnessed the biggest expansion of government in American history)
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To: lonevoice

Because they were pushed into by the Congress and organizations like ACORN.


157 posted on 10/08/2008 7:39:37 PM PDT by jerry557
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To: All

Y’all will have to chew on each other for a while. I have to work tomorrow.

G’night.


158 posted on 10/08/2008 7:39:43 PM PDT by Sherman Logan (Everyone has a right to his own opinion, but not to his own facts.)
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To: muawiyah

You ARE taking into account illegals propensity toward using stolen or made up identification, producing a few documents proving they paid some bills under that alias and landing in the office of a lending institution under pressure to make those loans? The nod, nod, wink, wink just sign here.

I was wrong about the “half of” - just wondered if you could acknowledge the quarter cited here.


159 posted on 10/08/2008 7:39:57 PM PDT by NewRomeTacitus (Have a nice day!)
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To: HollyButler

If those five million mortgages lose $100,000 each, that would translate into $500,000,000,000 stolen from the people of the U.S. FIVE HUNDRED BILLION DOLLARS. Illegal aliens aren’t really a problem!?


160 posted on 10/08/2008 7:45:44 PM PDT by supercat
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