Thread: Story About '5 Million Illegals' Holding Bad Mortgages...

The U.S. Department of Housing & Urban Development says there is no basis to news reports that more than 5 million bad mortgages are held by illegal immigrants.

A HUD spokesman said Thursday his agency has no data showing the number of illegal immigrants holding foreclosed or bad mortgages.

But news reports, including one aired on KFYI-AM 550 in Phoenix, cite HUD as a source for the illegal immigrant mortgage number. The widely read “Drudge Reportâ€

...here's a gem, a pro-illegal alien, "hispanic community organization" in Philadelphia partnered with FREDDIE MAC to give financial education advise to Hispanics (i.e. illegal aliens) in the Philadelphia, Camden, NJ area and to achieve "home ownership"....yes, that's right getting financial education from Freddie MAc......Please read and pass this on.......


For Immediate Release

June 07, 2006
Contact: corprel@freddiemac.com
or (703) 903-3933

ESPERANZA USA, FREDDIE MAC WORK TO INCREASE HISPANIC HOMEOWNERSHIP THROUGH BEING CREDITSMART®
Workshops Teach Participants How To Make Good Financial Choices

Washington – Freddie Mac (NYSE: FRE), one of the largest residential mortgage investors, and Esperanza USA, the leading Hispanic faith-based organization committed to strengthening the Hispanic community, today announced an outreach and education initiative to help Hispanics improve their financial decision-making skills and help them on the path to homeownership. The announcement was made during Esperanza USA's National Hispanic Prayer Breakfast and Conference at The State of Hispanic Housing Dinner.

Esperanza USA is bringing CreditSmart® and CreditSmart® Español –Freddie Mac's signature instructor-led financial literacy workshops in English and Spanish – to Philadelphia, Allentown/Bethlehem, Penn., and Camden, N.J. The six-hour workshops will be offered free of charge in the community.

Latinos and their families struggle with the same financial issues as many individuals – the need to be better prepared to deal with the challenges of earning an income, spending wisely and saving money. In fact, a recent Commerce Department report found that people in America are spending 5 percent more than they earn. They are using their savings or credit to make ends meet.

Esperanza USA has trained non-profit organizations and churches serving these cities to conduct Freddie Mac’s consumer financial literacy workshops, CreditSmart and CreditSmart Español.

The goal is to enable more families to overcome many of the key barriers to homeownership such as impaired credit, inadequate resources for down payment and lack of information about the homebuying process.

“Owning a home is part of the American dream. By offering this resource, Freddie Mac and Esperanza USA are empowering those in the Hispanic community to make that dream a reality,â€

A local Colorado candidate, who also just happens to be my wife, is providing a list of stories documenting illegal aliens and mortgage fraud.

http://www.cohd23.com/Immigration-Mortgage_Fraud.html

There is also Costs of Illegal Aliens in Colorado

http://www.cohd23.com/Immigration-Costs.html

which you will probably find interesting. You can scale the numbers to your state.

Originally Posted by Coto

Hi Jean,

Originally Posted by jean

The U.S. Department of Housing & Urban Development says there is no basis to news reports that more than 5 million bad mortgages are held by illegal immigrants.

Woah, Jean, time out.
According to a radio broadcast and Rush today, HUD made the discovery that 5 million illegals were the mortgage holders.
So HUD discovered it, and HUD's denying it? What the hell?

Surely you realize that Rush is an entertainer who pretends to be an intellectual and not a news broadcaster.
As such he can, and does, say anything he wants without regards for the truth.
He can repeat rumors as fact or even make up "facts".

Originally Posted by JohnDoe2

Originally Posted by Coto

Hi Jean,

Originally Posted by jean

The U.S. Department of Housing & Urban Development says there is no basis to news reports that more than 5 million bad mortgages are held by illegal immigrants.

Woah, Jean, time out.
According to a radio broadcast and Rush today, HUD made the discovery that 5 million illegals were the mortgage holders.
So HUD discovered it, and HUD's denying it? What the hell?

Surely you realize that Rush is an entertainer who pretends to be an intellectual and not a news broadcaster.
As such he can, and does, say anything he wants without regards for the truth.
He can repeat rumors as fact or even make up "facts".

Did Rush talk about this today?

I heard he talked about it Thurs but only read the previous story.

When this story first broke I tried to research the underlying FACTS about HUD. When I couldn't find any corroborating data I posted the story with a "take it with a grain of salt" caveat.

Nobody's saying that ILLEGALS haven't played a significant part in the housing crisis, especially me, they have; but 5 million mortgages?

There are enough FACTS, supported by verifiable data, to document the adverse impact that ILLEGALS and ILLEGAL immigration are having on America.

We do not need to fabricate ANYTHING or pass along erroneous info or rumors.

We, unlike the ILLEGALS and their advocates, have the TRUTH on our side.

Let's stick to it. It will set us all free in the end.

One Old Vet