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Home loans for illegal aliens?! - Michelle Malkin
TownHall.com ^ | 8/29/03 | Michelle Malkin

Posted on 08/28/2003 10:29:49 PM PDT by kattracks

The American dream of home ownership, complete with the white picket fence, is alive and well for those who break our laws and break down our fences to get in.

Last week, The Washington Post published a rosy front-page tale headlined, "Illegal Immigrants Buy Into Homeowning Dream." The article detailed how illegal aliens in the Washington, D.C., area are successfully hooking up with cunning mortgage brokers and complicit lenders to secure home loans. Despite federal laws making it illegal to violate the borders, overstay visas, and recruit, harbor and encourage illegal aliens, the Post notes that the illegal alien home loan schemes are "legal."

Here we are, nearly two years after the September 11 terrorist attacks underscored the need for consistent immigration law enforcement, and the lesson continues to be ignored in the nation's capital.

The Post's heart-warming story began:

"Gerardo Cabrera fell in love with the house immediately. There was the bay window in the living room, the fireplace in the den, and -- most enchanting to a man raised amid the concrete of Mexico City -- the woods in the back yard. And so the auto mechanic and his wife, a secretary, decided to pay $200,000 for their own piece of suburban Gaithersburg, a classic tale of immigrants achieving the American dream. Except for one detail: At the time, they were in the United States illegally."

While law-abiding homebuyers must supply airtight proof of identity, legal residence and a Social Security number to lenders, illegal alien purchasers such as Cabrera (a visa overstayer who recently received a green card) need only supply a "taxpayer identification number" (TIN) issued by the Internal Revenue Service. No criminal background check is required before applying for a TIN, which many banks now accept from illegal alien customers as a primary form of identification.

Cabrera's broker, Alma Preciado of Metropolitan Financial Services in Silver Spring, told the Post that about 10 percent of her mainly Latino clientele qualify for home loans using a TIN instead of a Social Security number.

That's just the tip of the illegal alien homeowners' iceberg. The Post failed to note that Federal Housing Administration-approved loans through the U.S. Department of Housing and Urban Development do not require lenders to obtain proof of citizenship or legal permanent residence. These FHA/HUD programs, primarily targeting minorities and first-time homebuyers, are federally insured and require minimal down payments.

A 25-year veteran of the mortgage industry in California confided to me recently: "It boggles the mind to think how many illegal aliens are homeowners in this country thanks to these programs, all fully insured by our government. Because of fear of lawsuits for discrimination I can also tell you that a lender may have a borrower who speaks little or no English who claims to be either a citizen or resident alien and it will not be questioned nor any proof required. Since FHA does not require any such documentation, a lender cannot cite their regulations as a basis for the request as they can on conventional loans."

Another easy avenue to home ownership is through the use of bogus Social Security cards. Moneylenders have no access to a verification system to check Social Security numbers before approving loans. A Department of Homeland Security investigator informs me that an ongoing federal probe of FHA/HUD-backed loans found that "a staggering number were approved to persons with false Social Security numbers." The Denver metro area alone accounted for 20,000 to 40,000 of the FHA-approved loans for suspected illegal aliens. "Even if a small percentage of the loans were foreclosed, HUD could be bankrupted," the homeland security official said.

A spokeswoman for the U.S. General Accounting Office told me this week that the agency's office of special investigations plans to report on the results of the probe later this fall. But "considering the size of Los Angeles, New York, Chicago, Houston, and other large cities throughout the United States known to be inundated with illegal aliens," says my source, "I don't think the federal government is willing to expose this problem for financial reasons as well as for fear of political repercussions."

America: Still the world's home sweet illegal alien home.

©2003 Creators Syndicate, Inc.

Contact Michelle Malkin | Read Malkin's biography



TOPICS: Culture/Society; Editorial; News/Current Events; US: California
KEYWORDS: housing; illegalimmigration; immigrantlist; michellemalkin
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To: I_Love_My_Husband

We'll just have to wonder whether or not they had called for the nuking of Mexico City. ;-)

81 posted on 08/30/2003 8:31:17 AM PDT by Cultural Jihad
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To: Cultural Jihad
Heck, I often call for the nuking of pretty much everybody.

82 posted on 08/30/2003 9:15:34 AM PDT by the gillman@blacklagoon.com
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To: I_Love_My_Husband
Remember the thread where Jim R. asked if he should sell the place to the RNC?

Lately it seems like he did.

CJ isn't a troll, but there are several who have recently moved in under the bridge to stay.

People get banned now more for disagreeing with the bushbots than anything else.

So say what you think anyway. So what if you get tossed off a chat room?



83 posted on 08/30/2003 9:19:49 AM PDT by the gillman@blacklagoon.com
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To: the gillman@blacklagoon.com
Lately it seems like he did.

Yep, JR operated under the conservative flag until GW proved not to be conservative at all. No need to pretend anymore.

Richard W.

84 posted on 08/30/2003 9:28:19 AM PDT by arete (Greenspan is a ruling class elitist and closet socialist who is destroying the economy)
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To: the gillman@blacklagoon.com
You've made some valid points. All's I'm saying is that we choose not to be tossed out.

I like being here. I'm comfortable. I don't want to rock the boat. A warning is necessary for those who don't know that rocking the boat in the immigration threads can possibly get you banned.

I feel this website attracts lots of good conservatives. It's important to stay and make our voice known. And as you said the RNC is paying attention. That's a good thing.

Since I live in a place that is extremely liberal, FR is one of the only outlets I have to express my conservative opinion (though there are other websites, LP, etc) this one gathers the most conservatives. I've met other SF conservatives here.

Cheers.

85 posted on 08/30/2003 9:34:21 AM PDT by I_Love_My_Husband
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To: All
I'll save y'all the heartache and guesswork.

Nothing is going to happen as a result of this. Absolutely, positively nothing.

Your Federal government at work yet again.

86 posted on 08/30/2003 9:54:40 AM PDT by RightOnline
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To: FlyVet; arete
"What do they do, pretend to check?"

If it's a government guaranteed loan, or they're just going to sell it someone else, why should they diligently check?

It's about transaction fees and transaction volume.

On the other hand, if you've got really good credit and assets, maybe they'll decide to keep the loan for themselves.

See how it works? The government (taxpayers) and MBS buyers will be left holding most of the crap.

87 posted on 08/30/2003 10:48:16 AM PDT by Tauzero (My reserve bank chairman can beat up your reserve bank chairman)
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To: WRhine
"I know what you mean. What our government is doing is creating the conditions for a blanket Amnesty of all Illegal Aliens."


Exactly. The govt is declaring de facto amnesty. A law declring such will just be a formality. They are removing the voice of the people with an abetted infiltration.

The fed govt is totally corrupt, and represents only a threat to law abuding, tax paying citizens. It continues to usurp individual freedom and promote its power by any means possible.

"Beating the govt" is now an honored American tradition, and I, for one, am going to start playing as of today.

88 posted on 08/30/2003 11:58:30 AM PDT by At _War_With_Liberals (If Hillary ever takes the oath of office, she will be the last President the US will ever have. -RR)
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To: Tauzero
If it's a government guaranteed loan, or they're just going to sell it someone else, why should they diligently check?

Yep, all those loans are just being packaged and sold to someone else who repackages them and sells them again until they reach the ultimate bagholder -- Joe-6-packs mutual fund. Sweet how they work that.

Richard W.

89 posted on 08/30/2003 1:32:25 PM PDT by arete (Greenspan is a ruling class elitist and closet socialist who is destroying the economy)
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To: kattracks
For those Californians who just fell off the turnup truck this is the issue driving (excuse the pun) the alien driving privilege issue.

It's not about driving, it's about lending. Lending to a large, relatively untapped, California market.

As an example, the wireless phone industry in California will strike a subscriber bonanza. Today, no credit history, no conventional plan. With the liscense comes access to conventional wireless plans. Ditto homes, new cars, major home appliances and much, much more.

90 posted on 08/30/2003 4:17:09 PM PDT by Amerigomag
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To: arete
I saw this article a few days ago but avoided posting it (although it is relevant) as I am sick of all the immigrant bashing.

So NOW when illegal aliens are linked to the GSE problem Freepers get fired up. Meanwhile, I slave away posting OFHEO systemic risk studies that muster a measly 10 replies.

I don't why I bother. sniff...whimper..

91 posted on 08/30/2003 6:34:51 PM PDT by AdamSelene235 (Like all the jolly good fellows, I drink my whiskey clear....)
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To: AdamSelene235
So NOW when illegal aliens are linked to the GSE problem Freepers get fired up. Meanwhile, I slave away posting OFHEO systemic risk studies that muster a measly 10 replies.

No one is going to relate to "systemic risk studies" of the GSE's until it hits them in the wallet. Now, illegals on the other hand, are a hot button topic. If you could maybe throw in and make some vague sex and Iraq references to your GSE posts, you would get more responses.

Richard W.

92 posted on 08/30/2003 6:59:48 PM PDT by arete (Greenspan is a ruling class elitist and closet socialist who is destroying the economy)
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To: EdReform; kattracks; nutmeg
read tomorrow...

read later bump

Better not. It will sicken you

93 posted on 08/30/2003 7:08:59 PM PDT by paul51
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To: kattracks
I found out about this little farse in 1996 when I was selling manufactured homes. Yes, it is true. But then the illegals are also getting SS disability payments with the blessing of the democrats and republicans.
94 posted on 09/02/2003 4:00:58 PM PDT by AuntB (Your rights stop where my nose starts!)
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To: FlyVet
Bmp
95 posted on 09/02/2003 5:57:03 PM PDT by jokar (Beware the White European Male Christian theological complex !!)
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To: MissAmericanPie
HUD has slipped three illegal families onto my block. One of them is a foreman for a landscaping company. They in turn are using their home to slip more illegals into the country.

How do you know that

A) They're illegals

and

B) the particulars of their financing?

96 posted on 01/20/2004 7:43:36 AM PST by cyncooper ("We call evil by its name")
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To: cyncooper
Their kids told me, also the parents have come by wanting to put in a sprinkler system and the sign on his company truck is a landscaping company. Neither parent speaks english and the kids barely do. Plus I have my Dick Tracey detective certificate and my decoder ring.

The other family is happy to tell you that they just arrived from Mexico. At least that was the excuse they gave when their two kids came busting into my house without knocking, driving the door knob into the sheet rock, and breaking some figgurines. Obviously they are not familiar with living in a place with doors.

The other family are party animals the street is lined with cars, the meriachi music is blasting, drunk revelers are squatting in the street in the dark begging to be run over.

Meanwhile, the American section of the block has formed a crime watch and a neighborhood association with it's own web site. They are at the city council meetings, on the phone with the cops, and fighting for this neighborhood tooth and nail. It's always been a special neighborhood, the hottest selling area in the city, and they want to keep it that way. Me, I give up.

I was pretty offended when a family member came for dinner on Christmas and told me I need to move out of the barrio. It's just impossible at the moment, to pick up and move. But eventually I will.
97 posted on 01/20/2004 1:56:36 PM PST by MissAmericanPie
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