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Some five million fraudulent home mortgages are in the hands of illegal aliens, according to the U.S. Department of Housing and Urban Development.
It's not known how many of those have contributed to the subprime housing mortgage meltdown, but it has affected every state, including Arizona.
The problem began years ago when banks were forced to give mortgages without confirming social security numbers or borrower identification. As a result, illegal immigrants were able to obtain home mortgages which they could not afford.
One illegal alien was arrested this year in Tucson after allegedly using a stolen social security number to buy two homes and rack up over $780,000 in bad debt.
Some five million fraudulent home mortgages are in the hands of illegal aliens, according to the U.S. Department of Housing and Urban Development.
It's not known how many of those have contributed to the subprime housing mortgage meltdown, but it has affected every state, including Arizona.
The problem began years ago when banks were forced to give mortgages without confirming social security numbers or borrower identification. As a result, illegal immigrants were able to obtain home mortgages which they could not afford.
One illegal alien was arrested this year in Tucson after allegedly using a stolen social security number to buy two homes and rack up over $780,000 in bad debt.
If HUD is stating it's 5 million, I have no doubt the number is probably double. Wow . . . just wow . . .
Exactly-we know that 5 million is a low number. Do you know what is amazing? We went through the mortgage process last July and we both had our social security numbers confirmed and we have excellent credit. Yet this article claims banks were forced to give mortgages without confirming ss numbers? I guess ss numbers only need to be confimed when it is a US citizen Yet we are constantly told there aren't two sets of rules-one set for honest US citizens and one set for ILLEGAL aliens.
If 5 million of them have mortgages, how does that reflect on the estimation that we have a total of 12 million altogether? Sounds like the 12 mil estimate is waaaaaay off. What percent of citizens own vs. rent? This is insane.
If 5 million of them have mortgages, how does that reflect on the estimation that we have a total of 12 million altogether? Sounds like the 12 mil estimate is waaaaaay off. What percent of citizens own vs. rent? This is insane.
Location: Oklahoma(formerly SoCalif) Originally Mich,
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And this is just the tip of the ice burg. Because of the Economic crisis, we're going to hear alot more fraud commited by "Illegals -via- financial institute support". Many many more Americans will become aware of how bad the Illegal Immigration problem really is, and to the point where the mere suggestion of amnesty will be an insult.
And this is just the tip of the ice burg. Because of the Economic crisis, we're going to hear alot more fraud commited by "Illegals -via- financial institute support". Many many more Americans will become aware of how bad the Illegal Immigration problem really is, and to the point where the mere suggestion of amnesty will be an insult.
I heard that auto corporations are suffering also. No doubt, many illegals have left town (or the country) with their new cars, leaving the lenders holding the bag. It will be as hard to get a car loan as a mortgage loan.
Location: Oklahoma(formerly SoCalif) Originally Mich,
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Quote:
Originally Posted by Benicar
I heard that auto corporations are suffering also. No doubt, many illegals have left town (or the country) with their new cars, leaving the lenders holding the bag. It will be as hard to get a car loan as a mortgage loan.
Yes. I keep track of what goes on in my home state. I heard that a plant in Flint, MI. just closed recently.
If 5 million of them have mortgages, how does that reflect on the estimation that we have a total of 12 million altogether? Sounds like the 12 mil estimate is waaaaaay off. What percent of citizens own vs. rent? This is insane.
It is way off. I suspect, from looking at census figures and Pew figures - that we have more like 20 Million illegals here.
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Wow . . . just wow . . .
Yet we are constantly told there aren't two sets of rules-one set for honest US citizens and one set for ILLEGAL aliens.
