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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
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To: Sherman Logan
The number sounds quite high to me. That would be one fraudulently obtained mortgage for a little over every two illegal immigrants.
Only if you believe the ridiculously low estimate of 10 million Illegal Aliens being in the US.
I'd say the number is closer to 30 million.
41
posted on
10/07/2008 8:09:50 PM PDT
by
SoConPubbie
(GOP: If you reward bad behavior all you get is more bad behavior.)
To: HollyButler
I buy foreclosures in the Chicago area. I can tell you without doubt that there are a lot of illegals that have props in FC. However they are not solely to blame.
Most are very hard working, strong Christian families that want a better life and got wrap up in greed and scams.
42
posted on
10/07/2008 8:12:43 PM PDT
by
Chicagofore
(BUY REAL ESTATE STUPID)
To: HollyButler
Wow - we only had Carter for 4 years, 30 years ago, and we are still paying for the infection he gave us!!
43
posted on
10/07/2008 8:19:40 PM PDT
by
PGR88
To: Doctor Don
The lenders are really stupid. Are they? I would expect that many of the people running them set things up so that they would generate personal wealth as long as the housing bubble could be propped up. Then when the bubble went boom they could let their companies go bust while they retire on their personal fortunes.
Why not engage in that style of bank robbery, especially if the government's even willing to buy you a getaway car?
44
posted on
10/07/2008 10:28:46 PM PDT
by
supercat
To: lonevoice
I knew that many illegals had taken advantage of this situation, but I had no idea that so many had done so.
To: 1_Inch_Group; 2sheep; 2Trievers; 3AngelaD; 3pools; 3rdcanyon; 4Freedom; 4ourprogeny; 7.62 x 51mm; ..
To: HollyButler; llmc1; Virginia Ridgerunner; texastoo; jan in Colorado; wolfcreek; Brandie; ...
“Some five million fraudulent home mortgages are in the hands of illegal aliens, according to the U.S. Department of Housing and Urban Development.”
People have been asking for the last week how many of these sub primes were held by illegals...well, here’s the answer.
47
posted on
10/08/2008 10:00:58 AM PDT
by
AuntB
( "During times of universal deceit, telling the truth becomes a revolutionary act." - George Orwell)
To: KoRn
“Thats a bunch of mortgages!
I wonder if McCain would buy those up along with the rest he promised to buy.”
Who knows! I wouldn’t want to bet on it.
48
posted on
10/08/2008 10:05:14 AM PDT
by
AuntB
( "During times of universal deceit, telling the truth becomes a revolutionary act." - George Orwell)
To: DBrow
I’d like some source confirmation on that number. It doesn’t show up in the HUD info I’ve seen. I’d love to use it, but the data does seem suspect.
To: Bullish
“Its pretty hard to blame the illegals for this. If banks left piles of cash out what do ya think would happen?”
They were willing participants. Anyone over age 5 knows when they’re scamming someone. Do you let the drug user off scott free and just punish the pusher?
50
posted on
10/08/2008 10:08:37 AM PDT
by
AuntB
( "During times of universal deceit, telling the truth becomes a revolutionary act." - George Orwell)
To: HollyButler
A few days ago I freeper challanged me to prove that a very high number of fraudulent mortgages were given to illegals.
I cited common sense, but he didn't buy that.
Here's your proof, David-whatever your handle is.
51
posted on
10/08/2008 10:14:58 AM PDT
by
skeeter
To: skeeter
I really need to begin proofreading my posts...
52
posted on
10/08/2008 10:15:59 AM PDT
by
skeeter
To: HollyButler
Muchas Gracias Senior Jorge Bush.
Another TRIUMPH for the Administration of Illegal Alien inclusion!!!
53
posted on
10/08/2008 10:16:37 AM PDT
by
ZULU
(Non nobis, non nobis Domine, sed nomini tuo da gloriam. God, guts and guns made America great.)
To: Sherman Logan
54
posted on
10/08/2008 10:19:05 AM PDT
by
HuntsvilleTxVeteran
(Obama and ITS thugs are made paranoid by Sarahnoia. (stole from molly_jack2007))
To: Bullish
“Our govt. purposely left the lid off the cookie jar.”
They just neglected to poison all the cookies!
55
posted on
10/08/2008 10:28:48 AM PDT
by
dalereed
To: HollyButler
Interesting scam. Buy home after home for no money down, put people in them, collect rent, don't pay mortgage.
By the time it's foreclosed, you have made a nice profit, you didn't use your real identity (so good luck finding you) and you disappear.
56
posted on
10/08/2008 10:33:57 AM PDT
by
PapaBear3625
("In a time of universal deceit, telling the truth is a revolutionary act." -- George Orwell)
To: gubamyster
Thanks very much for the ping. BTTT!
57
posted on
10/08/2008 10:39:09 AM PDT
by
PGalt
To: HollyButler
Fraudulent Mortgages Held by Illegals
And many of those were price+ loans, where the potential buyer got more $$$ and the value of the home. Then, after a while, many of them defaulted and left the country. Home prices fell. The lenders were left holding over-priced loans that exceeded the original home value, plus plummeting home prices.
[Those are the homes that McCain wants to revalue, per his revelation at last night's debate. And guess who makes up the difference?]
58
posted on
10/08/2008 10:41:34 AM PDT
by
TomGuy
To: PapaBear3625
The father of a good friend of mine used to buy tax-delinquent properties at the county tax sale, mostly slum apartment buildings. Then he’d start collecting rents while neglecting to do any maintenance or paying the taxes himself. When the building code violations stacked up and the building would be in danger of being seized by the city, he’d donate it to a church and take a big tax write-off. All perfectly legal.
59
posted on
10/08/2008 10:42:28 AM PDT
by
Bubba Ho-Tep
("More weight!"--Giles Corey)
To: AuntB
60
posted on
10/08/2008 10:43:00 AM PDT
by
blackie
(Be Well~Be Armed~Be Safe~Molon Labe!)
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