Posted on 12/16/2008 7:32:55 PM PST by Sammy67
This short news report might have been a bit longer if it had been written a couple of weeks later than it was. This story is dated September 5th and deals with one of the key issues about immigration that virtually no one is willing to talk about - especially politicians and others who subscribe to the open borders philosophy and to the idea of providing the millions of illegal aliens who are in our country with a Guest Worker Amnesty Program and a "Pathway to United States Citizenship." It deals with illegal aliens using stolen Social Security numbers and false immigration documents to apply for a home loan.
The challenges confronting our nation in dealing with the millions of illegal aliens who are in our country are numerous and significant. In my opinion, the most daunting challenge, and one that is fraught with national security implications, deals with accurately identifying millions of illegal aliens who have no reliable way of proving their identities. Our officials cannot be certain as to the true names of these millions of people. There is no way of determining their true nationality. There is no way of knowing when, where or how they entered the United States. Therefore, there is no way of truly knowing if they are wanted for crimes in other countries. There is also no
(Excerpt) Read more at familysecuritymatters.org ...
Can we pay them off with 1980 pesos?
My mother in law’s neighbor’s house was purchased by illegals from Mexico. She found out they were here illegal when they packed up in the middle of the night and went back to Mexico and left the bank holding the mortgage.
>>>>>>Our officials cannot be certain as to the true names of these millions of people. There is no way of determining their true nationality. There is no way of knowing when, where or how they entered the United States. Therefore, there is no way of truly knowing if they are wanted for crimes in other countries. <<<<<<<<
This was my main objection to the “Z-Visa” of McQueeg-Kennedy’s so-called Comprehensive Immigration Reform.
To say “millions” are unknown understates the case.
***None*** of the illegal aliens in the USA are known. They have no formal documentation, no passports, no birth certificates, nothing.
And let’s not limit this to Hispanics, because it can and does apply to **any** illegal alien of **any** nationality whether from Mexico or China or Russia or the Balkans or anywhere else.
In fact a savvy criminal would be wise to jump into the U.S. illegal alien system and create a completely false identity therein, since our government seems so willing to accept the word of anyone who professes not to speak English and not to have any verifiable national or personal identity.
A friend of mine who has family in Mexico said that ads were run in Mexican papers which read “FREE HOMES IN THE USA” I’m not making that up.
almost the same thing happened to us. Six homes in our subdivision were purchased by families from Indonesia. By the time we moved, three were foreclosed on and two others were evicted (notices on the door). They all purchased with little or no money down, rented the places for three-plus years and skipped town when the balloon payments came due or the rates adjusted up.
It was like a scene from a war movie. Small, aging cars jammed with stuff and people left the place in the dark of night. Needless to say, we all got screwed because the reduction in values bit us when we had to sell.
You know what, nothing has changed. first time buyers can get mortgages with little down and the lenders are lending only with more backing from the Fed.
save
“There is no way of determining their true nationality.”
About a week, maybe 2, after the sub prime mortgage crisis made the news, HUD (housing and urban development) reported that 5,000,000 mortgage loans were made to illegal aliens.
It was reported only once and never repeated.
Say the average loan was $100,000 @ 5,000,000 = $500,000,000,000. Read that at 500 Billion dollars. No wonder we can’t keep them out of the country. Free money, instant wealth, life is good.
Now, with this economy, all those jobs that the illegals are doing that Americans wont do mentality may have to be rethought.
those are called ninja loans
No Income No Job No Assets.
Whose idea was that anyway?
Calling the Old Media: Five Million Illegals Have Illegal Mortgages in U.S.A.! 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.
However, HUD cries foul over illegal immigrant mortgage data
Despite Illegal Status, Buyers Get Home Loans
N.Va. Foreclosures Form 'Ring of Fire' But drive with Thompson through the hardest-hit areas of Prince William County -- the epicenter of the region's foreclosure trouble -- and the loss of value has been precipitous. By and large, those properties are concentrated in lower-priced areas and Zip codes where many immigrants bought homes in recent years, often with subprime mortgages and other risky arrangements that required little down payment or documentation. In Northern Virginia and especially Prince William, many buyers were Hispanic immigrants.
And now we have the mortgage crisis, which has sent a shock wave through Wall Street and panicked world financial markets like no other since the stock market crash of 1929. But this is a problem created in Washington long ago. It originated with the Community Reinvestment Act (CRA), signed into law in 1977 by President Jimmy Carter. The CRA was Carter's answer to a grassroots activist movement started in Chicago, and forced banks to make loans to low income, high risk customers. PhD economist and former Texas Senator Phil Gramm has called it: "a vast extortion scheme against the nation's banks."
Immigration Counters tells it by the numbers Sadly Illegal Immigrants To Get Next Bailou
And the chickens have literally come home to roost, and we the people of the world have elected the dear leader of community -grassroots- activist movement started in Chicago!!!
From experience, I can tell you that illegals don't even need to have SS numbers to apply for a home loan, just a TIN that anyone can get, and that there isn't a government agency I was ever able to find that could give a rat's patoot.
There are probably several toxic mortgages on that one house.
THE MODUS OPERANDI The con artists get the initial mortgage without proof of citienship or employment, as long as they can print one of their fake names on the app---they then flip the house back and forth between family members at higher and higher prices, duping the bank several more times.
They then default and abscond to Mexico with thousands of dollars---leaving Americans with the damage.
Now multiply that countless times.
Maybe they will call it irrational exuberance!!!
Mmmmmmmm.........maybe “looting extravaganza ole” describes it better. LOL.
Wouldn't “looting extravaganza ole” be the last stage of irrational exuberance. ;)
Heheh-——yeah. That about sums it up.
Illegal guy gets a nothing down, interest only loan....he re-sells it at a $50,000.00 profit to ANOTHER illegal family member.....that one re-sells it at a $50,000.00 profit, no money down, interest only......that one re-sells it at a profit....etc. etc.......one family went back to Mexico with a profit of $500,000.00!!! I’ll bet MANY, MANY, MANY people did this scam!
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