Illegal Immigration and the Mortgage Mess
Michelle Malkin writes about the part that illegal immigration has played in the mortgage meltdown.
~~John Cronin~~
http://townhall.com/columnists/MichelleMalkin/2008/09/24/illegal_immigration_and_the_mortgage_mess
by Michelle Malkin
The Mother of All Bailouts has many fathers. As panicked politicians prepare to fork over $1 trillion in taxpayer funding to rescue the financial industry, they’ve fingered regulation, deregulation, Fannie Mae and Freddie Mac, the Community Reinvestment Act, Jimmy Carter, Bill Clinton, both Bushes, greedy banks, greedy borrowers, greedy short-sellers and minority home ownership mau-mauers (can’t call ‘em greedy, that would be racist) for blame.
But there’s one giant paternal elephant in the room that has slipped notice: how illegal immigration, crime-enabling banks and open-borders Bush policies fueled the mortgage crisis.
It’s no coincidence that most of the areas hardest hit by the foreclosure wave — Loudoun County, Va., California’s Inland Empire, Stockton and San Joaquin Valley, and Las Vegas and Phoenix, for starters — also happen to be some of the nation’s largest illegal alien sanctuaries. Half of the mortgages to Hispanics are subprime (the accursed species of loan to borrowers with the shadiest credit histories). A quarter of all those subprime loans are in default and foreclosure.
September 25th, 2008 at 8:53 am
John,
One of the contracts I do between kids, is to go around for banks to find out why folks are not paying their payments. These are people that are in default, and the banks are not able to contact them, so something can be worked out.(or not). I can’t tell you how many times I got out to a home that is in the brink of foreclosure, only to learn that the home was purchased by an illegal alien, using a fake SSN card. And he’ll tell you that! In some cases, the husband/wife/breadwinner has been deported, and the family is staying in the home, because they don’t know what else to do. Why were these loans even given out? I see it everytime I got out. Cars, Trucks, homes, creditcards. Ok, some are truly flakes. And my own husband is from South America (and is now a citizen). I get why they came here. What I don’t get is how someone working for 10 bucks a hour (a good wage in Utah, it turns out) can afford a 300 K home. Ever.
September 25th, 2008 at 4:11 pm
Chris,
Thanks for the good information. If you and I didn’t witness this stuff with our own eyes and hear it with our own ears, we wouldn’t believe it. The level of corruption in our political process, in our banks ( some have been involved in drug money laundering ) and in the financial services industry is jaw-dropping!
September 25th, 2008 at 5:38 pm
Well, my view still stands firm. 4 out and were back in. The jews had to wander for 40. We only have to do it for 4 while we regroup and get our acts together.
This ail up stinks to high heaven. Why not just cut every man, woman and child a check again, so we can pay off our homes? AUIGHHHHH.
September 25th, 2008 at 6:23 pm
Great interview video of Mitt in Detroit today:
http://www.wxyz.com/mediacenter/local.aspx?videoId=15100@wxyz.dayport.com
September 25th, 2008 at 11:01 pm
Chris: but what about the supreme court? That could be Obama’s legacy which could say, legalize gay marriage for the entire nation or something else atrocious. If the justice turnover weren’t eminant, I would say we wait four but because we have the chance to change the balance, it is worth it to vote for McLame I mean McCain.
September 26th, 2008 at 7:39 am
And we actually TRUST McCAin, who LOVES to ‘reach across the aisle’ to make everyone happy, to appoint conservative judges? Has not been our experience in the past, now has it?
Got a road, leading to a bridge to nowhere for you to buy…cheap!
If we give Obama (who I really think will be an equal disaster as the McBarbie team) a GOP house and senate, I can guarentee you there will not be extreme views on the USSC. Past history indicates this to be true.
September 26th, 2008 at 7:45 am
the beauty of Obama as President.
1. We get it out of the way for someone with a different look, outlook and viewpoints. IE, bigot squad - gonzo. No more excuses for not having a LDS man/woman on the ticket, as if our country will elect a black man, they would elect a LDS.
2. We GOP have 4 years to regroup, and come to our happy place. We our act together, so to speak. We need it. If we elect McCain, we will be lost forever, and the ones running the present show are not the ones I want pulling the stings.
3. Talk raido will be fun again. I can’t listen to it right now, for all the GOP lovefest going on.
4. Purley personal. The day Palin was plucked out of the trundra, I found this so offensive that I as a woman, would be expected to vote for her, even though she’s far to right wingnutters for me, I switched from Diet Coke to Diet Pepsi. i hate Diet Pepsi. But have to stick to it, until I too come back to my happy place.