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Immigration
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Title: HUD: Five Million Fraudulent Mortgages Held by Illegals
Source: KFYI
URL Source: http://kfyi.com/pages/local_news.html?feed=118695&article=4364653
Published: Oct 9, 2008
Author: Staff
Post Date: 2008-10-09 13:34:59 by Horse
Keywords: None
Views: 437
Comments: 8

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.

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Begin Trace Mode for Comment # 6.

#6. To: Horse (#0)

Some five million fraudulent home mortgages are in the hands of illegal aliens, according to the U.S. Department of Housing and Urban Development.

Let's look at this silly information another way;

FAIR: Illegal Alien / Immigrant Problems & Statistics | FAIR

www.fairus.org/site/PageServer?pagename=iic_immigr...

FAIR estimates that in 2007 the illegal alien population is above 13 million persons. Government and academic estimates indicate that as of 2006 there were 11 to 12 million illegal aliens living in the United States. The Center for Immigration Studies estimated the illegal alien population at 10 million as of November 2004.

It is difficult to have an exact figure because the illegal nature of their presence prevents any enumeration, but the U.S. Census Bureau estimated 8.7 million illegal aliens were here in 2000, and immigration officials estimate that the illegal alien population grows by as many as 500,000 every year.

So, basically, according to this 'post,' roughly 1 in every two (and a half) illegal aliens has bought a house............ fraudulently, of course.

And people wonder why they never understand what is going on......

richard9151  posted on  2008-10-09   15:45:20 ET  Reply   Untrace   Trace   Private Reply  

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