I was wondering , can an illegal immigrant own property legally? I tried to find the basic federal laws against illegal immigration in google but couldn't find any.
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I was wondering , can an illegal immigrant own property legally? I tried to find the basic federal laws against illegal immigration in google but couldn't find any.
Yes. Around here many do a "rent to own" to buy property or they pay cash. At least that's the way it is in my town.
There is no law against it currently however some states passing tough immigration laws are making similiar type of laws. The catch is though that the federal government and even states when allowed to enforce immigration law could turn the tables on that. Laws about "proceeds of a crime" can be used to take that house and virtually anything else but the mood hasn't been right of course in states and the federal government yet.
Normally one is required to provide a Social Security number and photo identification, usually a drivers license, and banking information. A contract to "buy and sell" is legal, but the contract is being made with a person who is committing a criminal act (illegal alien) and who does not possess the rights and privileges of citizenship.
The Federal government does what they always do. They look the other way and let banks sell morgages to Illegals even though It Is against Federal law. This easily falls under the term "aiding and abetting" Illegals ... :wink: :twisted:
They probly use that famous T.I.N.
T.I.N?Quote:
Originally Posted by pattyk
Tax Identification number. They use it to file their tax returns cause theydont have social security numbers.
They use it to open bank accounts too.
Thanks Patty, most dont even have that!!!! Our pandering former mayor ,funded a bank so illegals could get accounts without a ss so they wouldnt get robbed on pay daysQuote:
Originally Posted by pattyk
Makes you wonder how much US territory is owned by foreign nationals.
Rent-to-own illegals usually don't end up with the property. I see a house get turned over again and again. They move in and do illegal remodeling and then leave, then someone inspects it when they try to rent-to-own again and the places gets boarded up. Then some sucker comes along that will do the repairs for the down and tries to bring it up to code but he can't live in it while he fixes it, then another sucker comes along, and another... Then they get it up to code and do a rent-to-own and they do illegal remodels and the whole mess starts over again. Illegal remodeling can really trash a house. Often, they catch on fire, the walls bow out, walls or roof cave in or just end up ugly eye soars because they've used salvaged construction materials or stuff they stole from a job site. :roll: It's a mess. Every time I hear about one of these deals, the owner always seems to be living in Mexico.
Dixie
Individual Taxpayer Identification Number (ITIN) http://www.irs.gov/individuals/article/ ... 87,00.html
It is legal for an illegal alien to own property just as it is legal for a non citizen who has never entered the United States to own some. The ITIN is supposed to exist for passive income like dividends, interest and rent. It is misused when used for salaried income. Having an ITIN does not confer right to work. What gets to be offensive is illegal aliens buying property based on salaried income from a job they are not supposed to have.
That Is exactly what they do.... They use the ITIN In place of a valid I.D and social security number :twisted: but ..... If an AMERICAN CITIZEN tried to do this they would refuse your business :!: :twisted:Quote:
Originally Posted by pattyk
Banks are Quietly Wooing Undocumented Immigrants
Many illegal aliens are hard-working, tax-paying U.S. citizen wannabes-and banks are banking on their desire to be homeowners, too. And why not? There's no law against it.
US Banker | June 2005
By Steve Bergsman
As Washington signals a more lenient immigration policy toward the nation's eight million to 11 million undocumented aliens, U.S. banks like Fifth Third, North Shore Bank and Second Federal Savings & Loan, are quietly courting this group for home mortgages.
"Banks are not an arm of the immigration department," says Kevin Mukri, a spokesperson for the Office of the Comptroller of the Currency, the primary bank regulator. "As long as those getting mortgages meet the requirements of being authorized bank customers, including proper ID, it would be discriminatory not to service them." There is no law against banks issuing mortgages to illegal immigrants, nor against their owning property in the U.S.
An estimated six million to eight million of those undocumented are Latinos, who alone represent a potential $44 billion market in homes, according to the National Association of Hispanic Real Estate Professionals.
The Federal Deposit Insurance Corp. and the Mortgage Guaranty Insurance Corp., a Milwaukee-based mortgage insurer, recently gave their blessing to a product aimed at this group, the ITIN mortgage. An acronym for the Income Tax Identification Number, the ITIN mortgage is marketed to those with the nine-digit Internal Revenue Service number. Working illegal immigrants seek an ITIN number for tax-paying purposes because they aren't eligible for a Social Security number. Both resident and nonresident aliens may have ITIN numbers. Michael Frias, an FDIC spokesman, confirms that banks aren't legally required to verify legal status. "There is no federal banking law that requires banks to verify the immigration status of foreign account holders," he says.
Don Cohen, vp of community lending for North Shore Bank of Brookfield, WI, has been offering ITIN mortgages since September. "This is a whole new market," he says. "Immigrants are hard working, earn income, have down-payment money and want to own a home." If an illegal alien is deported and defaults on his mortgage, the bank would own the home.
Last autumn, the MGIC began working with 35 lenders to offer mortgage insurance for ITIN mortgages, an endorsement that cuts the loans' interest rates, and to date it has insured 196 loans worth more than $25 million. "We recognize the reality of a standing immigrant population," says Ryan Daniels, a spokesman for MGIC. He acknowledges that many in this target audience may be undocumented, but underwriting standards only require that applicants have an ITIN number and have paid taxes for at least two years. Not one of its 196 loans has been delinquent, he says.
The growth of ITIN mortgage programs shows how banks have adapted to the economic reality of illegal immigrants, many of whom aren't deported by the Immigration and Naturalization Service unless they commit violent crimes. Although it's illegal to hire them, few employers are prosecuted, and the IRS accepts their tax payments. Moreover, many households with an undocumented immigrant also may include a legal permanent resident or U.S. citizen, frequently a child born here. "Anything that accommodates their illegal presence encourages them to stay and others to come," warns Jack Martin, special projects director for the Federation for American Immigration Reform in Washington, D.C.
For the most part, however, banks are staying out of the political fray, and concentrating on business strategy. Second Federal Savings & Loan, based in the Chicago area, has offered ITIN mortgages for several years, but has renewed its focus in the last 18 months. "With margins narrowing, we got squeezed," says president and CEO Mark Doyle. "We looked at our alternatives. One glaring opportunity was in the ITIN market." It proved to be a solid bet: Today, the bank's $70 million ITIN portfolio is "performing well" with no foreclosures, he says, though he declined to provide profit figures.
Doyle says illegal immigrants have proven to be no bigger risk than legal immigrants or U.S. citizens. North Shore Bank's Cohen concurs, saying, "The risk has been minimal to non-existent."
In November, Cincinnati-based Fifth Third Bancorp introduced an ITIN mortgage in seven markets, drawing twice the number of expected candidates. Says Bill Schumer, vp of product development, "This is a great outlet to help Hispanics establish roots here." Other financial institutions offering the mortgages include Banco Popular in Houston; Self-Help Credit Union in Durham, NC; First Bank of the Americas in Chicago; Texas Bank in Fort Worth, TX; and Mitchell Bank of Milwaukee.
(c) 2005 U.S. Banker and SourceMedia, Inc. All Rights Reserved. http://www.us-banker.com http://www.sourcemedia.com
http://www.americanbanker.com/usb_issue ... 351-1.html
So th ITIN mortgages came into being shortly before the housing market disaster.
Exactly :!: I have said all along that loans made to Illegals caused the entire disaster :twisted:Quote:
Originally Posted by JohnDoe2
Around here they use their childrens ss# to buy houses and cars.Loans are very bad they will take out loans under false names then run away and never found to pay off loans like rent to own stores tv and such.Then us tax payers are paying the bills.
There are quite a few illegals running construction businesses in North Carolina who have bought homes; I heard one suspected illegal say he was making close to $100,000 a year and he owned his own home. I met him at a funeral for his American boss where he ran the framing crew. He was there with his pregnant non-English speaking wife and their four other non-English speaking kids.
Suspected...you have no proof then? Mexican immigrants are different from others in that they tend not to assimilate, legal or not.Quote:
Originally Posted by hattiecat
Watson, I don't know for certain this man was illegal; he spoke limited English and was with several other Spanish speaking men who worked on the construction crew. They sat by themselves and probably attended the funeral because the deceased was their former boss.
legal or not, we do seem to be overrun....Quote:
Originally Posted by hattiecat
The answer to your question is yesQuote:
Originally Posted by busygirl
The following is taken from a very informative article with numerous facts and figures: http://teabook.org/forum/topics/illegal-immigrants
Apparently, the following this is what has happened according to this piece: "Around 2005, an increasing number of banks saw illegal "immigrants" (my quotes) as an untapped resource for growing their own revenue stream and contended that providing illegal aliens with mortgages would help revitalize local communities, with many community banks providing home loans for illegal immigrants."
The stats cited in this article are staggering and mind boggling. In reviewing the comments, one will learn that illegals coming across our southern border are one part of the problem. This country resembles Swiss cheese from coast to coast. Something had better be done and SOON.
The TIN is one of many ways they can own property. In Washington they can own a car , property or anything else. Washington does not have a residency requirement and all ya need to do is apply for an ID card for the state of Wa. There was a traffic stop here in lincoln county mt 3 weeks ago. The car was from Wa. The driver was hispanic. When stopped the ofice ran a check ont he driver. He had no license for montana or any other state. Only thing he had was a Wa. ID. There were no warrents or past criminal history. He was given a citation for no license and released. He should have been detained and checked for citizenship but wasn't. As far as I can see there are NO secure communities here in Mt listed. Maybe the membership here needs to help me out in putting pressure on the communities here to become secure.
3 of the 56 MT. Counties are Secure Communities, so far.Quote:
Originally Posted by BillCunnane
And just this month they doubled the number of illegal aliens that have been deported by Secure Communities, from 1 to 2.
The schedule for activating all U.S. counties was set back in 2009.
Most Montana counties are scheduled to be activated in 2012.
2 Montana counties become I.C.E. Secure Communities
(Lewis & Clark county and Missoula county.)
July 27, 2010
http://www.alipac.us/ftopict-207169-montana.html+secure
Yellowstone county was activated 8/10/2011
Quote:
Originally Posted by BillCunnane
Washington is a launching pad for illegals. We are still one of the three states who issue drivers licenses to illegal aliens. They have been routinely stopped (traffic - for whatever reason) as far away as New York and their drivers licenses have been issued in Washington.
Anyone can purchase land in the United States, Citizen or Non citizen can purchase without restriction.
Now for the caveats:
1. Mortgage if granted by a bank is a private contract between the
Mortgagor and the Mortgagee with the property pledged for payment.
Illegal gets deported, note not paid, property gets repossesed, Jose
Illegal loses house.
2. Jose Illegal gets deported, taxes not paid, property sold by sheriff for
unpaid taxes, bye bye property, it just got recycled.
Who cares who buys property, ustedes no pagaron los impuestos, la tierra han perdido. (You do not pay the taxes, the land is lost).