[PGR88]

Wow - we only had Carter for 4 years, 30 years ago, and we are still paying for the infection he gave us!!

[gubamyster]

ping

[AuntB]

“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.

[skeeter]

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.

[ZULU]

Muchas Gracias Senior Jorge Bush.

Another TRIUMPH for the Administration of Illegal Alien inclusion!!!

[PapaBear3625]

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.

[TomGuy]

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?]

[Miles the Slasher]

Let’s send the bill to the Mexican government.

[CodeToad]

And HUD and Fannie and Freddie knew about every single one of them.

[Freedom_Is_Not_Free]

I’m shocked, shocked to find learn that illegal aliens owned home in America! Shocked, I tell you!

[dennisw]

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

I'd love to see confirmation of this. I doubt HUD would even release such a number

[dennisw]

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

Highly doubtful. I'd love to see confirmation on this one

[headstamp 2]

“The problem began years ago when banks were forced to give mortgages without confirming social security numbers or borrower identification.”

Brought to you by a totally useless government. All they know how to do is FUBAR and then rape the taxpayer.

[Straight Vermonter]

There are less than 50 million mortgages in he US. So 1 in ten is held by an illegal?

[RobRoy]

>>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. <<

Well, wher’d the money go? I’m guessing to real estate agents and builders and their employees. Basically the IA only got debt. Since he is evicted he really suffered no loss. Money went from the hands of one company to another, and he got to live in a nice house for a while.

[PLMerite]

All the hoops I had to jump through in 2003 just to refinance my house and illegals can buy homes?

Man, Atlas needs to shrug real hard.

[kempo]

Doesn't this sound like part of the “motor voter law” the Clintons pushed through?

[Tennessee Nana]

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.
_______________________________________________

Hmmmmmmmmmmmmmmmmmmmmmmmmm

I dont remember this happening the 2 times I got a home loan...

[NewRomeTacitus]

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.

[supercat]

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!?