[Liz]

We're finding out now that some of these "homeowners" were illegals who were never asked for proofs---pay stubs, SS numbers, etc.

As long as the applicants had a pulse and could write their names, they got the loan.

Many of these loans were flipped back and forth among immigrant families for higher and higher profits, duping the banks at every turn.

When they did enough damage, the last "homeowner" defaulted and departed for Mexico with thousands in cash.....leaving the bank (and now taxpayers) holding the bag).

[AuntB]

BTT!