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  • The American Dream turns into a debtor's nightmare (for illegals)

    10/08/2007 8:54:00 AM PDT · by LNewman · 110 replies · 4,140+ views
    LA Times ^ | October 8, 2007 | Jennifer Delson and and Christopher Goffard
    Soledad Aviles dreamed for years of owning a home, with a plot of land where he could grow corn and chiles as he did in his native Mexico. So he felt blessed last year when he learned he could buy a three-bedroom, single-story stucco house on West La Verne Avenue in Santa Ana. Referred to a local loan broker by a trusted friend, he borrowed the entire purchase price of $615,000 from Washington Mutual at a high interest rate typical of sub-prime loans. The monthly payment, as he says he understood it, would be $3,600 -- steep for a glass...