Thread: Illegal Aliens and the housing bubble.

This housing bubble/fraud isn’t just about the toxic paper that was passed around the world this bubble/fraud started right at the very bottom and was encouraged by those at the very top. It began with Bush’s idea we will spend our way to prosperity and Allen Greenspan opening the bank vault.

What about all the subprime housing loans, new car loans and credit cards that these banks gave to the illegal aliens? Communities and states are making laws tougher for the illegals and along with all of the I.C.E. raids they are sending these people back to Mexico.

The illegal aliens that are sent back will just walk away from the loans except some will choose to drive home in their new car or truck that the Bank of America just gave them because once it is in Mexico it is their car or truck. Some of these banks are on the hook big time for loans to these illegal aliens with false IDs. There was news out of Denver, Colorado that they are prosecuting a group of people for making fraudulent loans to illegal aliens which they used as straw men. There was also news from Cleveland, Ohio of the very same thing and it was a lot of loans the people walked away with a lot of cash and never made one payment on the ridiculously over valued house. There is more to this housing bubble collapse then they want to talk about.

If all the illegal aliens left these banks would be out big money worsening an already bad situation, we are in for a ruff ride anyway. The banks, corporations, and the government need the illegal aliens to help keep their house of cards alive a little longer.

Another reason why we need to know who is in this country and if their legal. Big corps will start to agree to that if they lose enough money.

I still want them out. We'll just have to ride out the waves.

Originally Posted by Bad_Hand

This housing bubble/fraud isn’t just about the toxic paper that was passed around the world this bubble/fraud started right at the very bottom and was encouraged by those at the very top. It began with Bush’s idea we will spend our way to prosperity and Allen Greenspan opening the bank vault.

What about all the subprime housing loans, new car loans and credit cards that these banks gave to the illegal aliens? Communities and states are making laws tougher for the illegals and along with all of the I.C.E. raids they are sending these people back to Mexico.

The illegal aliens that are sent back will just walk away from the loans except some will choose to drive home in their new car or truck that the Bank of America just gave them because once it is in Mexico it is their car or truck. Some of these banks are on the hook big time for loans to these illegal aliens with false IDs. There was news out of Denver, Colorado that they are prosecuting a group of people for making fraudulent loans to illegal aliens which they used as straw men. There was also news from Cleveland, Ohio of the very same thing and it was a lot of loans the people walked away with a lot of cash and never made one payment on the ridiculously over valued house. There is more to this housing bubble collapse then they want to talk about.

If all the illegal aliens left these banks would be out big money worsening an already bad situation, we are in for a ruff ride anyway. The banks, corporations, and the government need the illegal aliens to help keep their house of cards alive a little longer.

I have seen this many times first hand....I work in an Attorneys office as a paralegal...litigation is often filed against those who do not pay or who have defaulted on the credit cards, loans or mortgages...when confronted by a phone call to see if they wish to resolve the issue, they have often said to me, I am going back home anyways, so go ahead and sue me...

I'm sure that the taxpayer will get the tab for this exercise in greed.

Originally Posted by Bad_Hand

This housing bubble/fraud isn’t just about the toxic paper that was passed around the world this bubble/fraud started right at the very bottom and was encouraged by those at the very top. It began with Bush’s idea we will spend our way to prosperity and Allen Greenspan opening the bank vault.

What about all the subprime housing loans, new car loans and credit cards that these banks gave to the illegal aliens? Communities and states are making laws tougher for the illegals and along with all of the I.C.E. raids they are sending these people back to Mexico.

The illegal aliens that are sent back will just walk away from the loans except some will choose to drive home in their new car or truck that the Bank of America just gave them because once it is in Mexico it is their car or truck. Some of these banks are on the hook big time for loans to these illegal aliens with false IDs. There was news out of Denver, Colorado that they are prosecuting a group of people for making fraudulent loans to illegal aliens which they used as straw men. There was also news from Cleveland, Ohio of the very same thing and it was a lot of loans the people walked away with a lot of cash and never made one payment on the ridiculously over valued house. There is more to this housing bubble collapse then they want to talk about.

If all the illegal aliens left these banks would be out big money worsening an already bad situation, we are in for a ruff ride anyway. The banks, corporations, and the government need the illegal aliens to help keep their house of cards alive a little longer.

Here is how it works (and the illegals know it): an American is wedded to his identification. An American cannot simply run down to "Little Mexico" and pick up new identity.

Illegals can and do. They often have 4 or 5 very good sets of false identity documents.

My wife is a title company manager. She is not permitted to question the authenticity of these documents; that would be against federal Equal Opportunity statutes. She CAN question the authenticity of documents presented by a white person who speaks English like a native, however.

Funny how that works, eh?

So when an illegal buys a house or car and stops making payments, it does not haunt him for the rest of his life. He simply switches ID and...buys another house and another car if he wants, and starts the process all over again. Of course, the house can be repo'd, the car is never seen again (in America). Living in the underground economy, they of course know how to run this system, to dispose of "hot" wheels.

Where I live, entire neighborhoods are now standing empty, save for the illegals living 15-20 unrelated people to a rental. This has driven RE prices down, down, down in these areas, so that Americans who live there are invariably upsided down in their mortgages, and can't sell, and so often end up slipping into forclosure themselves (would YOU want to raise kids in a place like this?).

Yeah...these people only put INTO our economy...they aren't a drain on it!

Tokie

The latest buzz word I am hearing here in So. Cal. is "SHARED HOUSING" for those families who can't afford to own a home! I have tried to get more info...but have been unsuccessful. I can only assume that this means our fascist government is going to try to suggest that Americans start living like the third world illegals...20 people to a house!

Just the phrase "shared housing" scares the heck out of me. It's all too ominous!

This is an excerpt from a piece posted on the news stories thread about Arizona.

Impact on housing

Adrian has been calling his real-estate agent every day to see if there are any potential buyers for his property.

But Guadalupe Sosa, the agent, said this is a bad time to be selling. Undocumented immigrants are putting their homes up for sale when there is already an abundance of houses on the market, adding to a glut. Mortgage defaults and foreclosure also are rising.

In July, the Arizona Regional Multiple Listing Service listed 52,336 homes for sale in the Valley, up 17 percent from a year earlier. The average time on the market for houses sold in July was 95 days, compared with 65 days a year earlier.

What's more, Sosa said, many immigrants are not buying homes because they are worried about losing their jobs under the law. That has made it even harder to sell homes in immigrant neighborhoods.

She pointed to three of her West Valley listings that are owned by illegal immigrants who want to leave Arizona.

One was a brick four-bedroom selling for $167,000 in the historic district of Avondale. Another was a beige stucco house selling for $210,000 in a new subdivision in southwest Phoenix. One was a blue townhouse selling for $95,000 in west Phoenix.

"A lot of people are selling because of the uncertainty," she said. "They have one or more family members who are undocumented, and without that extra money, they can't make the mortgage."

Other areas of the economy also are taking a hit because of the employer-sanctions law.

Rosa Macias, vice president of Muebleria Del Sol, said projected sales are down 30 percent since the governor signed the law. The Phoenix-based furniture business has five Valley stores, and 85 percent of its customers are Latino immigrants. She said immigrants aren't buying because they are worried about losing their jobs or already have been let go.

"We have been noticing sales are really, really low," she said.

The drop in sales forced the company to lay off 10 of its 75 employees, Macias said. Macias is also telling suppliers not to deliver more inventory until sales pick up.

"I am very worried," she said.

http://www.alipac.us/modules.php?name=F ... ic&t=79683

This all goes under the "profit: by any means necessary" mentality.

It is rotting this great country from the inside-out.

My wife is a title company manager. She is not permitted to question the authenticity of these documents; that would be against federal Equal Opportunity statutes. She CAN question the authenticity of documents presented by a white person who speaks English like a native, however.

The same thing happens at the SS office. American citizens have to show proof of everything. Illegals do not. The SS admin has to take them at their word.

There is a long story about this at youdontspeakforme.com.