Thursday, October 9, 2008

5 Million Illegal Aliens Have Illegal Mortgages!

Adding insult to injury, five million illegals in the U.S. have illegal mortgages!

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.
Bad immigration laws as well as lax enforcement of them have helped make this crime easy to perpetrate.
In 1965 a Democrat Controlled Congress under President Lyndon Johnson passed the concept of "chain" immigration into law. Later on, the Hesburgh Commission convened during Ronald Reagan's first term, and found that this concept statistically allowed each single immigrant to bring into this country 84 of his family members. Given that there are approximately 25 to 45 million illegal aliens, just on a percentage basis, we were bound to have this many illegal mortgage loans.

Let's see how long it takes to have the MSM pick this story up.

So far only one radio station, and one blogger (Warner Todd Houston )


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