red states rule
02-24-2009, 07:42 AM
So now banks are giving mortgages to illegals. How much of the Obama handouts will they get?
It is a fact in 1999, the Feds lowwered the standards for a home loan so the poor and those with bad credit could get loans - now this. Our tax dollars are bing flushed down the toilet folks
Citibank Offering Illegal Aliens Mortgages With Below Market Interest Rates, Down Payment Assistance And No Mortgage Insurance Requirements
Citibank has been offering illegal aliens mortgages by using Taxpayer ID numbers instead of Social Security numbers to bypass the fact that these people are illegal aliens. On top of this they are actually giving these illegal aliens special treatment they wouldn't even extend to US citizens. This is an outrage. To the millions of Americans who cannot afford a home this is simply indefensible.
I reported recently on Wells Fargo giving loans to illegal aliens through a program called Celebrate Home. While outrageous the Celebrate Home program didn't seem to include additional incentives like this Citibank program does.
Anyone out there looking to buy your first home should be very pissed off to find out that they are giving these people -- who snuck into the country -- below market interest rates, down payment assistance and not even requiring mortgage insurance! While it is outright illegal to aid and abet criminals, there are no laws on the books (yet) against loaning to someone using a Taxpayer ID number instead of a Social Security number. The fact that they are giving these people -- who could be deported and default on these loans -- downpayment assistance and not even requiring the mortgages be insured is just mind boggling from a lending perspective.
There must be someone higher up who is pushing their political agenda over common business sense. This person also hates Americans and would rather give a loan to a foreign illegal alien before they give it to a hard working American or legal resident.
http://www.diggersrealm.com/mt/archives/001610.html
It is a fact in 1999, the Feds lowwered the standards for a home loan so the poor and those with bad credit could get loans - now this. Our tax dollars are bing flushed down the toilet folks
Citibank Offering Illegal Aliens Mortgages With Below Market Interest Rates, Down Payment Assistance And No Mortgage Insurance Requirements
Citibank has been offering illegal aliens mortgages by using Taxpayer ID numbers instead of Social Security numbers to bypass the fact that these people are illegal aliens. On top of this they are actually giving these illegal aliens special treatment they wouldn't even extend to US citizens. This is an outrage. To the millions of Americans who cannot afford a home this is simply indefensible.
I reported recently on Wells Fargo giving loans to illegal aliens through a program called Celebrate Home. While outrageous the Celebrate Home program didn't seem to include additional incentives like this Citibank program does.
Anyone out there looking to buy your first home should be very pissed off to find out that they are giving these people -- who snuck into the country -- below market interest rates, down payment assistance and not even requiring mortgage insurance! While it is outright illegal to aid and abet criminals, there are no laws on the books (yet) against loaning to someone using a Taxpayer ID number instead of a Social Security number. The fact that they are giving these people -- who could be deported and default on these loans -- downpayment assistance and not even requiring the mortgages be insured is just mind boggling from a lending perspective.
There must be someone higher up who is pushing their political agenda over common business sense. This person also hates Americans and would rather give a loan to a foreign illegal alien before they give it to a hard working American or legal resident.
http://www.diggersrealm.com/mt/archives/001610.html