HUD: Five Million Fraudulent Mortgages Held by Illegals

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One illegal alien was arrested this year in Tucson after allegedly using a stolen social security number to buy two homes and rack up over $780,000 in bad debt.

Some five million fraudulent home mortgages are in the hands of illegal aliens, according to the U.S. Department of Housing and Urban Development.

It's not known how many of those have contributed to the subprime housing mortgage meltdown, but it has affected every state, including Arizona.

The problem began years ago when banks were forced to give mortgages without confirming social security numbers or borrower identification. As a result, illegal immigrants were able to obtain home mortgages which they could not afford.

One illegal alien was arrested this year in Tucson after allegedly using a stolen social security number to buy two homes and rack up over $780,000 in bad debt.

http://kfyi.com/pages/local_news.html?feed=118695&article=4364653

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@Woiyo9,

Quote:

Some five million fraudulent home mortgages are in the hands of illegal aliens, according to the U.S. Department of Housing and Urban Development.

This is a bald faced lie from anti-immigrant wing nuts.

((or can you give me a link that is from the U.S. Department of Housing and Urban Development (rather than from a right wing hate site)).

Stop spreading lies.

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What is funny is that while McCain is blaming the rich "greedy" fat cat on Wall Street, the conservative rabble is blaming "illegals" and minorities.

Pathetically predictable.

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@Woiyo9,

I could not find and requirement saying banks couldn't do financial background checks on borrowers. I did find links saying that in their rush to lend to anyone, mortgage companies often would not check on borrowers, would try to push them to higher rate loans and then sell those to banks. Is that what you were referring to?

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Forgive the multiple posts... but this is beyond belief! I just did a little Googling about this particular smear (that seems to be all over conservative sites today).

It is not just the hatefulness that gets me-- it is also the sheer stupidity.

Most respectable estimates put the number of "illegal" people at 12 million. This group include migrant workers and people who work at factories most of them live very quiet lives in poor apartments.

The idea that this group (who the same conservative yahoos accuse of living in "overcrowded apartments") hold 5 million mortgages is laughably stupid.

Why would anyone swallow this clearly idiotic claim? Does hatred of "illegal" people make people incapable of any kind of rational thought process?

I wasn't surprised to find that not one of the hate sites that listed this story had any link to back up this claim.

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@ebrown p,

Actually it's old news. Just the 5M number is new.

http://www.businessweek.com/the_thread/hotproperty/archives/2007/07/mortgages_for_i.html

Enough of your bald headed drivel.

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@ebrown p,

Go write the TV station that is reporting it .

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@ebrown p,

Where does it say that HUD should do the job of ICE?

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@Woiyo9,

Take responsibility for your own actions, Woiyo. You repeated this lie. You obviously swallowed it without checking (or thinking).

It wouldn't hurt to use your own mind, rather than parroting every right-wing anti-immigrant smear you come across.

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@ebrown p,

Bravo ebrown p, bravo!

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@ebrown p,

You are an apologist for these people and you in full support of the advancement of Anti American, Liberal policies your democratic and republican representatives put forward. The fact remains that illegal immigrants HAVE become a cancer and you continue to ignore the reality.

You can twist my comments any way you want. Yet, the reality is ILLEGAL IMMIGRANTS and committed fraud in both coming here illegally and fraudulently obtained mortgages. They are part of todays problem. And so are you.

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@Woiyo9,

I am an American. You don't speak for us.

It is called democracy. We don't have to go around declaring that anyone who doesn't agree with us isn't American. We vote. You get one vote. I get one vote. We are all American.

Americans (as a voting public) tend to favor moderate, reasonable positions. Your position (by comparison with the average voter) is quite extreme. I know this because two thirds of Americans consistently say support a path to citizenship whereas you keep ranting as if this were some off the wall position.

We Americans have been electing people who support the liberal policies that you are ranting against. Don't whine about this. We are Americans and we can elect whomever we feel represents our point of view.

Next month millions of Americans will elect a President who supports a path to citizenship.

Our immigration policy will be decided by our elected government. That is the American way.

We are American. You don't get to speak for us (other than your one vote).

Deal with it.

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@ebrown p,

ebrown p wrote:

I am an American. You don't speak for us.

It is called democracy. We don't have to go around declaring that anyone who doesn't agree with us isn't American. We vote. You get one vote. I get one vote. We are all American.

Americans (as a voting public) tend to favor moderate, reasonable positions. Your position (by comparison with the average voter) is quite extreme. I know this because two thirds of Americans consistently say support a path to citizenship whereas you keep ranting as if this were some off the wall position.

We Americans have been electing people who support the liberal policies that you are ranting against. Don't whine about this. We are Americans and we can elect whomever we feel represents our point of view.

Next month millions of Americans will elect a President who supports a path to citizenship.

Our immigration policy will be decided by our elected government. That is the American way.

We are American. You don't get to speak for us (other than your one vote).

Deal with it.

Actually, illegal immigrants aren't American, thus the status of "illegal alien".

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@ebrown p,

"You can twist my comments any way you want. Yet, the reality is ILLEGAL IMMIGRANTS and committed fraud in both coming here illegally and fraudulently obtained mortgages. They are part of todays problem. And so are you."

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@Woiyo9,

You think "ILLEGAL IMMIGRANTS" are the problem.I think "CONSERVATIVE BIGOTS" are the problem.

As Americans, we will settle this in the voting both. Let's see what happens!

((Out of curiosity, are you voting for McCain? <snicker>))

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@McGentrix,

That was a non sequitor extraordinaire.

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@ebrown p,

I will be voting against Obama. I will not support any liberal, anti american agenda that he constantly supports.

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@cjhsa,

cjhsa wrote:

Actually it's old news. Just the 5M number is new.

http://www.businessweek.com/the_thread/hotproperty/archives/2007/07/mortgages_for_i.html

Enough of your bald headed drivel.

Did you read this post CJ? It says the banks are pushing the mortgages, not that they are being forced to offer them. It says nothing about fradulent mortgages. Is this really the basis for this smear?

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HUD: Five Million Fraudulent Mortgages Held by Illegals

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