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  1. #1
    loneprotester's Avatar
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    Lone Protester- An Illegal Alien Mortgage Bailout

    Lone Protester- An Illegal Alien Mortgage Bailout
    9/26/08
    Bend over my fellow Americans, because here it comes again. The majority of the subprime loans issued in this country went to illegal aliens. These loans were actually given to people that invaded our country and think that fraudulent documents are a rite of passage. That’s right, not only are they taking 300 billion dollars a year through stealing our jobs, healthcare, education, food stamps welfare and God knows what else, they are achieving the American dream. These figures added together equal one trillion cool dollars. With that amount of money we could fix everything wrong with this country. We could have a space program that would be the envy of the world. Common sense tells me that American mortgages should go to American citizens but that is the absolute last thing our politicians use when they are conducting legislation.
    LaRaza is one of the primary culprits in encouraging illegal aliens to take out subprime mortgages on homes 99% of them couldn’t afford. LaRaza was given 15 millions dollars from our esteemed politicians in Washington to accomplish this. And right in the middle of this fiasco our leaders want to add millions to the bailout to give to LaRaza. Our politicians want to give our money to an organization that favors criminals over American citizens.
    While American citizens are forced to form grassroot organizations to deal with the widespread corruption in every department in our government, without any support from our government, that same government gives our treasure to an organization that encourages invaders, people that actually have broken our laws, to steal the American dream. While Americans struggle our leaders play monopoly with our money. These mortgages were given to people that always have to look over their shoulders because they are criminals. So while I am struggling for the first time in my life to put food on my table, these same criminals that are stealing my work have jumped in front of another line and got mortgages before millions of Americans could get them.
    It is time for every American citizen to get angry at what is being done to us. When we go to the voting booths in November a lot of these idiots should be given pink slips. Here they are wanting to steal 700 billion from us to give to a bunch of businesses that bet on subprime mortgages for illegals and lost. Let me get this right, according to the politically correct line of thought I must willingly give up my construction business to illegal aliens and then what little that I have left must be devoted to the greater good which just happens to be mortgages for illegal aliens. Does it seem like something is wrong here? Have I died and gone to hell? Is there any Americans out there that thinks like I do?
    Our politicians are scrambling, once again to pull the wool over our eyes and pretend that this financial mess is our fault. It sickens me to watch how politics has degenerated into a Roman orgy of absolute power while the American people replace the Christians in the arena. While we struggle to survive these bozos have given away the country. While I made 300 dollars this week fixing crap illegal construction workers messed up my leaders are in the process of helping them out big time with more of my money.
    I do not know about you but I am fed slap up to the gills with the shenanigans that our politicians try to force down our throats. Our entire infrastructure is crumbling, hundreds of thousands of Americans are steadily losing their jobs, millions of illegals are still streaming across our borders and here are our leaders bending over backwards for people and businesses that are bringing this country down. And the only thing our two presidential candidates can argue about is which one can get amnesty the quickest.
    It seems to me that our politicians need to stop playing tiddly-winks with each other, quit worrying about sucking up to the special interests and get to work on the real problems of America. Not illegal aliens and their problems but the real things that Americans are forced to face every day. Maybe it is a good thing that a major election is a month away. Maybe we can get these politicians so worried about reelection that they will finally do something for the American people. But I am dreaming, because the politicians are going to continue down the same road, come hell or high water. These idiots are determined to bring this country to it’s knees and they are almost there.

  2. #2
    Senior Member koobster's Avatar
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    These f---ed up government officials like these illegals so dam much them , they ought to take care of them, this AMERICAN TAXPAYER is fed up, with all this illegal sheeet, when I cant even afford medical insurance, and yet I make too much to get a medical card, its a no end situation.
    Illegals can get everything from the AMERICANS, and yet they can stand on a freaking street corner and get to work for cash, every day, and not pay taxes, boy, if I didnt pay my taxes, which goes to the freaking illegals I would be in prison.


    KOOBSTER
    Proud to be an AMERICAN

  3. #3
    Senior Member Populist's Avatar
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    Re: Lone Protester- An Illegal Alien Mortgage Bailout

    Quote Originally Posted by loneprotester
    The majority of the subprime loans issued in this country went to illegal aliens.
    Does anyone know the % that went to IAs? If so, please post source.
    Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)

  4. #4
    loneprotester's Avatar
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    Re: Lone Protester- An Illegal Alien Mortgage Bailout

    Quote Originally Posted by Populist
    Quote Originally Posted by loneprotester
    The majority of the subprime loans issued in this country went to illegal aliens.
    Does anyone know the % that went to IAs? If so, please post source.
    ----------------------------------------------------------------------

    Here is part of the answer to your question. This is from 18 months ago.

    http://www.washingtonpost.com/wp-dyn/co ... 01323.html

    Monday, March 26, 2007; Page A01
    Foreclosure Wave Bears Down on Immigrants
    Immigrants are emerging as among the first victims of a growing wave of home foreclosures in the Washington area as mortgage lending problems multiply locally and across the country.

    Nationally, 375,000 high-interest-rate loans were made to Hispanics in 2005, and nearly 73,000 of them are likely to go into foreclosure, said Aracely Paname?o, director of Latino affairs for the Center for Responsible Lending. About 1.1 million homes in the United States are expected to go into foreclosure in the next six years, and many native-born Americans are likely to be stuck with burdensome loans. But immigrants are getting hit first in part because their incomes tend to be lower and many have lost construction jobs.

    Homeownership rates among immigrants surged in the first half of the decade, making their prosperity an economic success story. Now it is becoming apparent that many people managed to buy homes in an inflated real estate market by turning to unusual new mortgages only now receiving scrutiny from regulators and legislators. Many of these loans start with attractive low "teaser" rates but feature payments that can suddenly increase.

    Unfamiliar with the U.S. mortgage market, unable to speak or read English well and vulnerable to the blandishments of real estate professionals who told them property values always rise, many immigrants are struggling to deal with high mortgage payments as their homes sag in value, making it harder to escape the loans by selling.

    Tysons Corner mortgage broker Jose Luis Semidey, who has a popular Spanish-language real estate talk show on Radio Universal, is being deluged with calls from desperate homeowners who are falling behind on their mortgages. The calls started in late 2005 and have steadily risen; he now receives 40 to 50 calls a day from throughout the area.

    "I see more coming," Semidey said.

    Paname?o agreed. "I'm being flooded by phone calls from throughout the country from people begging for help," he said. "The best I can do is refer people to attorneys to get assistance."

    Nahid Azimi, who immigrated to the United States from Afghanistan 22 years ago, recently stood in the upstairs hallway of her home in Loudoun County, silently sobbing as she removed the last of her personal items from the $410,000 townhouse in South Riding she bought with pride last summer.

    She said she was persuaded to buy the house by an Afghan real estate agent she considered a friend and by an Afghan mortgage broker who promised to get her a good loan.

    Instead, Azimi, a cashier at Giant who makes $2,400 a month, found herself strapped into a no-down-payment loan with payments of $3,800 a month. She knew it would be impossible to make the payments, but the mortgage broker promised to refinance her loan to make it more affordable. Azimi couldn't qualify for the refinance, however, so she got a second job to try to cover the costs, borrowed money from her friends and tried unsuccessfully to sell the house. Then one day in November, she collapsed at work, in part because of the stress.

    Today, she will call the loan servicing company and offer to give back the keys.

    "I can't do it anymore," said Azimi, 44, a U.S. citizen. "I cannot afford it, and I don't want them to come one day and put my stuff on the street."

    Some lenders allowed people to take out loans without verifying their income or their ability to repay. Traditionally, lenders have made loans only to people they thought could pay them back. Banking regulations forced lenders to adhere to strict lending policies, not just for the protection of borrowers but also to protect bank depositors, who would be hurt if the banks collapsed.

    But in recent years, lenders have found alternative sources of financing for the loans by turning to investors who bought the loans as packaged securities. These kinds of loans are not supervised in the same ways as loans made by banks and held in their portfolios.

    Laissez-faire regulatory policies made other government agencies reluctant to intervene.

    "The market changed so investors were setting the standards for qualifying people for mortgage lending," said Allen Fishbein, director of housing and credit policy at the Consumer Federation of America. "They had a higher appetite for risk, which led to the lax standards that are resulting in delinquencies. The regulators should have been more concerned about protecting consumers than about protecting financial institutions."

    Officials at the Mortgage Bankers Association were unavailable for comment. In previous interviews, they have said that loosened credit policies allowed more families to become homeowners and that reputable lenders do not make loans that cannot be repaid.

    Many immigrants initially welcomed the lending changes as the only way they could afford to buy.

    Places where immigrants cluster have been particularly hard-hit. Semidey said that the most calls are coming from Manassas, Woodbridge and Dale City in Virginia and Gaithersburg, Germantown, Capitol Heights and Langley Park in Maryland. But one recent caller was the owner of a $1.5 million home in McLean, a restaurateur who has seen her business slide in recent months as the slowdown in the construction industry pinches the pocketbooks of her Latino patrons. Another was an illiterate carpenter who bought a $750,000 house in Ashburn Village, Semidey said.

    Francisco Santos, 31, who lays tile, makes $60,000 a year by working seven days a week. He became convinced that real estate was a can't-lose proposition after the value of the townhouse he had bought in Woodbridge in 2002 for $95,000 climbed to $230,000. He and his wife, Linda, a homemaker, traded up to another house and banked part of their profits. The Spanish-speaking real estate agents with whom he negotiated the purchase persuaded him to borrow against his equity to move up again.

    "They called me every day; they said we can do more business, that it's a good time to do it," he said in a mixture of English and Spanish. "They talked very sweet into my ear. I believed. I believed these people, and I did this business."

    So Francisco and Linda went to visit a spacious red-brick house on Lord Culpeper Drive in Woodbridge, with its master bedroom suite and well-equipped kitchen, priced at $540,000. Linda nearly swooned with pleasure as she looked around the interior. She thought: Here was her dream house.

    They decided to buy the house, which was fairly easy because the Santoses had excellent credit, equity in the other house and money in the bank. The mortgage broker made things even easier by doing the settlement in their home, something many Hispanic families find more comfortable. That also made Francisco's life easier because he typically works until 8 at night, making it hard to get places during normal business hours.

    He tried to rent out their former house, but the tenants didn't pay their rent, so the Santoses used up their savings to keep up payments on the two houses. They put the houses on the market but found no buyers. When they couldn't make payments, their credit rating deteriorated.

    The stress on the family mounted as collection agencies began calling, over and over. With two small children and another one on the way, the pressures grew. The couple quarreled, and Francisco Santos said he sometimes yelled at the kids for little provocation.

    "I feel terrible," said Santos, a legal immigrant. "I'm trying to keep control because my wife is pregnant, and I don't want her to feel bad. It's difficult. I was thinking about my kids, and their opportunity to have a good life. My wife, she says, 'Why? Why?' "

    The loan servicing company, American Home Services, will foreclose on the new house Saturday. The Santoses will move back to their old house and hope that they will be able to leave the problems of the new house behind them.

  5. #5
    alipacdude's Avatar
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    I disagree! It was not only illegals but citizens who got loans that never should have been given. What evidence shows it was more illegals? Nevertheless, no illegal should get any loan they should get DEPORTED!

  6. #6
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    I don't now how many went to illegals - but we have no way of knowing.

    There were a couple of interviews with 2 HUD officials some years ago. Both stated essentially the same thing - "So many illegals have loans through HUD, if only a small percentage defaults, the entire program will be in jeopardy."

    I'm outraged at the irresponsibility of citizens who entered into these mortgages they knew they couldn't handle - costing the rest of us who were responsible.

    But I'm more than outraged the fact our government allowed illegals to obtain loans at all - costing the rest of us who are law abiding citizens.

    The fact is - one is too many.

    Who knows how many, but perhaps without the added burden of people who are here illegally, it might not have collapsed.
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  7. #7
    Senior Member Populist's Avatar
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    Malkin has also written about this:

    http://article.nationalreview.com/?q=MD ... U4OTAyZDA=
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  8. #8
    loneprotester's Avatar
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    And here are a couple more articles about illegals and bailouts--

    http://www.washingtonpost.com/wp-dyn/co ... 01323.html

    http://www.lastreporter.com/?p=1332

  9. #9
    Senior Member joazinha's Avatar
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    The banks and lenders who made these bad mortage deals with the ILLEGALS need to be DEPORTED with them!

  10. #10
    loneprotester's Avatar
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    Here is Tom Tancredo on C-Span saying that hundreds of thousands of illegal aliens were given subprime mortgages.

    http://www.c-span.org/watch/cs_cspan_rm ... TV&Code=CS

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