Thread: AR: Mortgage loans for illegal aliens allowed but rare

Mortgage loans for illegal aliens allowed but rare
BY MARK MINTON

Posted on Sunday, January 27, 2008
URL: http://www.nwanews.com/adg/News/214937/

ROGERS — While Arturo Reyes Jr. sits in jail on charges of harboring illegal aliens, his wife and co-defendant, Silvia Reyes, is under federal detention at their home — a brick house with a soaring foyer and a soccer goal in the yard.

There’s also a hole dug for a backyard pool. That’s a project that may have to wait.

The Reyeses’ plans were upended last month when immigration agents raided the family business, Acambaro Mexican restaurants.

Prosecutors are not only mounting a criminal case but also moving to seize the Reyes home and other properties that they call the fruits of the illegal labor the Reyeses allegedly used in their restaurants.

Largely overshadowed: The bank that holds the mortgages. Arvest Bank, based in Bentonville, is one of few the banks in Northwest Arkansas where an illegal alien can hope to get a home loan.

The Dec. 10 raid at Acambaro restaurants in Washington and Benton counties rounded up 19 illegal aliens for deportation and landed the Reyeses and two Acambaro managers in jail on charges that they knowingly hired illegal workers.

Arturo Reyes Jr. has pleaded innocent to a three-count indictment alleging he harbored and shielded illegal aliens by providing them with financial support through employment. Reyes also is charged with money laundering. He is scheduled for trial Feb. 25 in U. S. District Court. Silvia Reyes has yet to be formally charged.

LENT $ 2 MILLION The family’s $ 460, 000 home in a gated neighborhood in Rogers stands as the most obvious symbol of the wealth that prosecutors allege the Reyeses accumulated by exploiting illegal workers. The U. S. attorney’s office in Fort Smith contends the Reyeses should forfeit the house, the lot next door and nine other properties, including restaurant buildings and a warehouse, because “they were used in the commission of, or are properties which were derived from and represent the proceeds of, the concealing or harboring of an alien or aliens.â€

[b]“Some people for religious reasons won’t have a Social Security number,â€

[quote]He added, however, that “loan requests may not be denied solely due to a person not being a U. S. citizen or a resident alien.â€

Individual Taxpayer Identification Number

I really think this is implicit support by the U.S. Government through the IRS to aid and abet ILLEGAL immigration and attempt to collect tax money from as many perpetrators (illegal aliens) as possible. Is there anyone who will have an ITIN other than an illegal alien? I don't think so. If this system was abolished, and the government wasn't directly able to collect taxes from those illegal aliens that had to get an ITIN to get a job, the government would be much more likely to engage in ending illegal immigration.

This entire issue is all about money. Our government will issue an illegal invader a tax id number so they can collect taxes from him. They could careless your in the country illegally. As long as they get your money.

Problem, how many illegals are going to file tax returns using this number. Very few, because majority of them are paid under the table so there will be no W2 form at the end of the year.

Illegals use the tax id number as a social security number and virtually all banks will accept it in essence, as a social security number.

I would have serious doubts as to the assertions made by the banking officials in this article. I would bet many more such loans(more than they will admit) are made to people with only a tax id number.

Just follow the money, that will tell you everything you need to know. If there is money to be made from these people, then trust it's being done.

[quote="grandmasmad"][b]“Some people for religious reasons won’t have a Social Security number,â€

[quote="PhredE"][quote="grandmasmad"][b]“Some people for religious reasons won’t have a Social Security number,â€

Prosecutors are not only mounting a criminal case but also moving to seize the Reyes home and other properties that they call the fruits of the illegal labor the Reyeses allegedly used in their restaurants.

Some states have forfeiture laws to "take the profit out of crime". Law enforcement have used the law to acquire millions of dollars in cash, cars and other property from people involved in drug dealing or other crimes.

These laws have been targeted at drug dealers in the past but there is no reason those who profit from hiring illegal immigrants shouldn't face the same penalities.

Banks making mortgage or other loans to illegal immigrants:
1. Should be charged with aiding and abetting illegal immigrants.
2. Lose their deposit insurance with The Federal Deposit Insurance Corporation (FDIC).

I opened a savings account which took over an hour and had to supply proof of everything except my blood type.

If pro is opposite of con, then what is the opposite of progress? Congress!
Men's restroom House of Representatives,Washington, DC