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Thread: Foreclosures & Illegal Aliens
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07-12-2010, 10:38 AM #11
"Q) What was the worst case you have seen?
A) One borrower stole the SS# of a retiree and took out $3.5 million in loans, turned around and did cash-out refi’s, then fled the country. The retiree was left with ruined credit, $3.5 million in loans and trouble with the IRS. Over 50% of the sub primes were for cash-out refi’s. Regardless of the loan criteria used to pull random samplings for audits, the majority of the last names were Hispanic. The loans I audited were primarily in CA, NV, AZ, FL, CO, compare those to the states with the highest number of foreclosures & illegal aliens. "
One could make an encyclopedia with the stories of Americans who have been ruined by ID theft. And according to official Federal Trade Commission studies what state leads the way in per capita ID theft? Arizona, of course. The state Obama and Holder can't wait to sue."Men of low degree are vanity, Men of high degree are a lie. " David
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07-12-2010, 11:16 AM #12
It is not only illegals but those who immigrated here legally maxed out the equity and took the money and ran back home once the value of properties decreased substantially.
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07-12-2010, 02:30 PM #13
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- Feb 2010
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- 508
Wow!
Why this high level of favoritism towards illegals? Banks perceived them as a source of profits or portfolio enhancements to resell to investors?
So what happens to illegals who are upside down on their mortgage and want to participate in loan modification programs? Do they qualify for that as well?
What were the roles of Title Companies in all this fraud?
How do illegals purchase homes TODAY? What schemes are they using?
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07-12-2010, 04:07 PM #14Originally Posted by legalalienJoin our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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07-12-2010, 04:31 PM #15
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How do illegals purchase homes TODAY? What schemes are they using?
Everyone I know who has a house for sale or who has sold their house are/were constantly pestered with the "rent to own" question.
GALLUP POLL: Immigration the most pressing issue in America for...
05-03-2024, 11:30 PM in General Discussion