Illegal Immigrants Hold 5 Million Fraudulent Mortgages
Posted October 12th, 2008 by northstar
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From Judicial Watch:
A seldom-reported fact that has greatly contributed to the nation’s financial crisis is that millions of illegal immigrants across the U.S. have fraudulent home mortgages and many have defaulted.
The illegal aliens obtained the loans from banks that were pressured by the government to offer them. In fact, the agency in charge of preserving and promoting public confidence in the nation’s financial system, the Federal Deposit Insurance Corporation (FDIC), began pushing banks to offer services to illegal immigrants a few years ago.
As a result, some 5 million fraudulent home mortgages are in the hands of illegal aliens, according to the U.S. Department of Housing and Urban Development (HUD), a cabinet-level agency that strives to increase access to affordable housing free from discrimination. Now U.S. banks routinely offer services to people without Social Security numbers by accepting the Mexican identification called matricula consular to open accounts.
More at: http://www.judicialwatch....
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The reason for the open borders
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One Trillion Dollar Fraud Illegal Aliens Took Us To the Cleaners
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that is as large or larger than the bailout
boy..that means as much value is in these mortages or more than the bailout...
Not funny...if all these people havent defaulted and they soon do...talk about outright crooked stupidity and jail sentences that need to be handed out.
The middle class holds an awful lot of valuable assets
Strategy; Devalue those assets. Destroy the middle class and then grant illegals permenent status, forgive or modify those bad mortgages. The illegals will be energized to do the will of the powers that be. Full out class warfare will ensue. The population will be reduced in size and stature.
The elite consolidate more power to themselves. End result; ruling class and their subjects.
I have thought about doing just that to my ignorant neighbors. They laughed at Ron Paul last summer. They deserve to lose their assets. The market tanks, I buy their homes. I move immigrants into the properties. I run down the values in the hood. I buy more properties at fire sale prices and bring in more aliens. We rule what used to be a nice neighborhood.
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