Posted on 10/09/2008 5:26:28 PM PDT by mdittmar
The U.S. Department of Housing & Urban Development says there is no basis to news reports that more than 5 million bad mortgages are held by illegal immigrants.
A HUD spokesman said Thursday his agency has no data showing the number of illegal immigrants holding foreclosed or bad mortgages.
But news reports, including one aired on KFYI-AM 550 in Phoenix, cite HUD as a source for the illegal immigrant mortgage number. The widely read “Drudge Report” posted a link to the KFYI report, but as of Thursday afternoon the link no longer connected to the story.
Anti-immigration groups point to subprime and foreclosed mortgages given to undocumented immigrants, particularly in cities hard hit by the mortgage crisis, such as Los Angeles, Phoenix, San Diego, Miami and Las Vegas, which also have large immigrant populations.
Like hell they don’t .....
And how would HUD know if there weren’t five million mortgages held by illegals?
same ol’ story.
hud did nothing wrong.
democrats did nothing wrong.
media did nothing wrong.
Flak / Target
Just like there is no data showing the number of crimes commited by illegals.
Problem solved.
Yep, just the gun tote’n, bible huggn’, patriotic Americans pointing and accusatory finger are wrong. Shame on us. ;-)
Whether if is 1m or 5m is irrelevant. No bank should have been giving mortgages to someone who could be deported any day. Makes no sense.
All I know is we have a friend foreclosing on almost one house a day in Orange Co. CA.
Story about it still on Newsbusters
http://newsbusters.org/blogs/warner-todd-huston/2008/10/09/calling-old-media-five-million-illegals-have-illegal-mortgages-u
bump
blank them, we damned well do need to know this. How could an illegal alien be expected to fulfill their complete mortgage obligation? The risk is astronomical. Yes Fannie and Freddy accepted these? That’s criminal.
Original KFYI story:
http://www.freerepublic.com/focus/f-news/2100080/posts
HUD: Five Million Fraudulent Mortgages Held by Illegals
If there is even one illegal with a bad mortgage then it is serious. Should never have happened.
I knew some slimey guys writing mortgages. They preferred to deal with illegals, way more money than dealing with law abiding citizens.
Think, no complaining about higher interest rate, willing to pay points up front. And willing to pay “fees” in cash up front.
KFYI Reply:
HUD Declines To Discuss Illegal Mortgages
Thursday, October 9, 2008
The Department of Housing and Urban Development won’t discuss whether 5 million illegal immigrants held mortgages.
Earlier this week, we posted a story that said figures from the Department of Housing and Urban Development showed that home mortgages were held by 5 million illegal immigrants and that this may have contributed, in part, to the housing crisis that has led to the recent failure in the financial markets.
Our source for that story, a retired agent from Immigration and Customs Enforcement, stands by those numbers.
A person from Housing and Urban Development contacted KFYI to tell us the number was inaccurate, that there were only 2.3 million mortgages held by immigrants, so there was no way that 5 million illegals could have mortgages.
When asked what HUD says the correct number is, the person (who identified himself only as ‘Brian’ and who refused to give his last name), either would not or could not say how many illegal immigrants hold mortgages. He also said there was “no way” HUD would grant an interview on the subject.
http://kfyi.com/pages/money-matters.html?feed=268721&article=4381201
OK then, THAT makes it all better...
Thanks! I looked on their website for a retraction or clarification and couldn’t find it.
It looks like HUD is too embarrassed to support their numbers. As to their “2.3 million mortgages held by immigrants,” maybe that is the number in California, alone. ;-)
Ping to above, FYI
Do things go that way, or the other way? Think 110% LTV. Cash all around, except for the poor shmuck who's stuck with the worthless paper.
If illegal aliens were using stolen identities, wouldn’t they be stolen from American citizens?
So, then the total would be 5 million PLUS 2.3 million!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.