Illegal immigrants and mortgages

United States
October 9, 2008 7:21pm CST
Is it true what I've heard that the Democratic party pressured C.E.O.s of the mortgage CO.'s who are being bailed out by the bill that was just passed into law? These mortgage CO.'s have given mortgages to illegal immigrants with no SS #'s or verifying employment records and income? My husband and I can't get a mortgage because we are still trying to clear our credit issues from the past. We are US citizens who have rights under the constitution and pay SS and federal tax and served in the armed forces and make very good wages but still can't get into home ownership because they check credit and income and everything. I don't know how anyone else feels about this but I really hope you are all very upset with this.
3 responses
@Arkie69 (2156)
• United States
10 Oct 08
A lot of people got real estate loans that didn't qualify for them. If you are white, working and even weak credit you are not going to get a loan to buy a house. There is a chance you might be able to pay your payments and keep it out of default. This whole mess we are in now with our economy had to be planned. It would not have played out to be an advantage to the Government and big money people if it wasn't. The people that cause this crash and our government that allowed them to get away with it are both going to wind up owning a bunch of prime real estate across this country. What really burns my A** is the fact they are using our money against us in ways that we will be the ones to do all the hurting. By "WE" I mean all us little fishes down here on the bottom of this pond.
1 person likes this
• United States
10 Oct 08
Thank you so much for your response. Very informative.
• United States
11 Oct 08
They did not give loans to illegal immigrants. I doubt they would give money to someone knowing they could be deported or are at a higher risk to just flee the country and they would never see their money again. Illegal immigrants can't even buy houses here. You have to have proper i.d. when you go to closing and being illegal, you are unable to get that.
1 person likes this
• United States
10 Oct 08
Well, the morgage industry wasn't that accurate and there're many shades with them. They are getting better though. The law has passed that you won't be able to get a loan without certain number years of work history. They have to have two people working and with good credit.