HUD: Five Million Fraudulent Mortgages Held by Illegals Test Your National Knowledge! 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.
Well, I dont think that is most of our problem......however, pissed off that makes me......that would be a drop in the bucket of mismanagement if they didn't get the loans and they were checked out properly we wouldn't be in this mess because the rest of the Americans would have been properly checked out too......that is what happens when we accept 'cheap crap' from foreign entities.....dollar stores and the likes.....including foreign banks....we liked them and used them too......they were allowed free reign in America....and now here we all sit with out thumbs up our butts.....
The boomers were all happy when their pensions/401k etc were making a mitt off the next generations credit charges and cheap banking loans......
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
Personally, I wouldn't even TAKE a loan if someone didn't want my social security number or to see a paystub (not just a promise that I make a certain amount of money), much less GIVE one.
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