Despite Illegal Status, Buyers Get Home Loans in the US(they face little risk of deportation)

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[ARCHIVED THREAD] - Despite Illegal Status, Buyers Get Home Loans in the US(they face little risk of deportation)

Posted: 8/9/2005 12:22:56 AM EDT

There is some group that files legal complaints against illegals for a fee
they file against illegals mentioned in articles like this for free.........

THE NATION
Despite Illegal Status, Buyers Get Home Loans
Mortgage lenders are designing programs aimed at undocumented immigrants. Real estate agents also see a huge untapped market.
By Anna Gorman, Times Staff Writer
August 9, 2005
www.latimes.com/news/local/la-me-house9aug09,0,3282555.story?coll=la-home-headlines
Each week, Pedro Morlet knocks on doors in the Bay Area, looking for illegal immigrants.

Morlet isn't an immigration agent. He's a real estate agent, and he's scouting for business.

"Do you want a house, work and pay taxes but don't have a Social Security number?" reads his flier, written in Spanish and tailored to his potential customers. "We can help you LEGALLY!"

Across the country, particularly in Texas and parts of the Midwest, hundreds of illegal immigrants have bought homes using special lending programs that bypass the need for a Social Security number. Now, with backing from some of the country's largest financial institutions, this newest effort to tap customers for the real estate market is moving to the nation's largest concentration of illegal immigrants — California.

As buyers begin to queue up, real estate is becoming the latest arena to highlight the often-bizarre contradictions of American immigration policy.

Advocates of tighter controls on immigration oppose the idea of illegal residents buying homes here. Lending money to illegal immigrants encourages others to cross the border, they say.

"They have no right to own property in the United States because they have no right to be here in the first place," said Diana Hull, president of Californians for Population Stabilization.

Legally, that's not quite true. Unlike some countries — Mexico, for example — the United States generally does not restrict foreign citizens from buying real estate.

But for years, because qualifying for a mortgage required a Social Security number, the only way for an illegal immigrant to do so was by using a false number. In addition, such immigrants often were rejected or overlooked by legitimate lenders, leaving them vulnerable to fraud.

Lenders have a powerful incentive to find ways to get around those barriers: tens of thousands of potential customers. The National Assn. of Hispanic Real Estate Professionals estimates that more than 216,000 undocumented immigrants, including many who have been in the country for decades, could buy homes if they had better access to the market.

Despite their undocumented status, many prospective buyers earn steady incomes, face little risk of deportation and are desperate to become homeowners. Their purchases would amount to millions of dollars in mortgages.

"You have gainfully employed people who have been stuffing money in the mattress for a long time," said Mary Mancera, spokeswoman for the association. "There are quite a few who have been working and saving money and raising kids and going about their lives and want to achieve that next step, but haven't been able to because of the barriers."

Silvia Avalos, a hairstylist, and her husband, Jose Luis Avalos, a busboy, are among the people Mancera is talking about. They were tired of spending their money on rent each month but didn't want to use fake Social Security numbers to buy a home.

After friends told them they could buy legally, they found a two-bedroom condo northeast of San Francisco for $280,000. They moved in as soon as escrow closed.

"We saw it as an investment," Silvia Avalos said. "While you are here, you have somewhere to live that is yours. And if you return home [to Mexico], you can sell it."

Another prospective buyer, Aaron Sanchez, was pre-approved for a $200,000 loan after taking a class sponsored by ACORN, an advocacy group for the poor, on how to make offers and apply for mortgages. The 32-year-old illegal immigrant from Oaxaca, Mexico, has worked at the same furniture company in the San Gabriel Valley for 14 years. He wants each of his two children to have a room. It is a luxury, he knows, that will be hard to afford.

"I think I can find a house," Sanchez said, "but a small house."

The opportunity to get people like the Avalos and Sanchez families into the market begins with the IRS, which is happy to collect peoples' taxes, regardless of their immigration status.

Nearly a decade ago, the IRS began giving out Individual Taxpayer Identification Numbers so people without Social Security numbers could pay taxes. Since then, more than 8 million applicants have received numbers, and about 2 million are used annually on tax returns.

The IRS knows illegal immigrants are using the numbers to get mortgages.

Posted: 8/9/2005 2:17:19 AM EDT

[#1]

Another prospective buyer, Aaron Sanchez, was pre-approved for a $200,000 loan

I'm a Native born citizen and I fucking have to BEG for a $150,000 loan?????

AAAHHHH!!! Sorry I woke up.

Hey, 22BAD. Nice avatar

Posted: 8/9/2005 2:32:43 AM EDT

[#2]

If you didn't notice the story is way slanted to the right.

Many countries do not require you be a citizen or even be there at all to own property in their country or even take a out a loan.

It's called the free enterprise system.

Americans own businesses and vacation homes all over the world.

If you legislate the banks to require a SSN to make a loan, that simply means the person buying the home will get the loan in bank outside the US and then arrange a fund transfer. The interest then gets paid to a foreign bank adding to our trade deficit.

Though by no means an advocate of someone being in this country illegally especially now with the threat of terror attacks, I’m afraid this story is making a mountain out of a molehill and using extreme examples to influence legislation that will only hurt our economy.

Now if they want to talk about legislation that forbids citizens of countries that WON'T let us citzens buy property in their country NOT buy property in the US, it's a different story.

Tj

Posted: 8/9/2005 2:36:37 AM EDT

[#3]

Hell, at least now they'll have to pay Property Taxes.

Posted: 8/9/2005 2:46:13 AM EDT

[#4]

Happening in MASS.

Whatever happened to fairness?

Posted: 8/9/2005 3:26:18 AM EDT

[#5]

Quoted:
Mortgage lenders are designing programs aimed at undocumented immigrants. Real estate agents also see a huge untapped market.

Reason #910 why America is going down the crapper!

Posted: 8/9/2005 3:49:02 AM EDT

[#6]

Ok, so they contribute to the economy, put down ties in the community and pay school and property taxes...where's the problem?

Posted: 8/9/2005 3:57:43 AM EDT

[#7]

TomJeff, Mcantu,

+1

Some of the crackers on this forum amaze me.

G

Posted: 8/9/2005 4:05:56 AM EDT

[#8]

I have seen 2 loans written for "non-citizens", the mortgage guy insisted they were legal, but it really looked like blatent usury violations as far as interest and fees were concerned.

Posted: 8/9/2005 4:18:21 AM EDT

[#9]

+1 on the illegal aliens paying taxes. Hey, they're not leaving anyway. Might as well get them to pay for all those friggin kids in school.

Of course, with all the tax breaks and cuts for owning a home, maybe this is all counterproductive...

Posted: 8/9/2005 4:29:41 AM EDT

[#10]

Quoted:
TomJeff, Mcantu,

+1

Some of the crackers on this forum amaze me.

G

Your statement is an oxy moron! It amazes me that someone can refer to people on the forum as "crackers" and still be allowed to be on this forum.

Posted: 8/9/2005 4:40:40 AM EDT

[#11]

Quoted:
TomJeff, Mcantu,

+1

Some of the crackers on this forum amaze me.

I'll remind you about your comment when your kids and grandkids are the minority and have NOTHING!

Posted: 8/9/2005 4:45:56 AM EDT

[#12]

Quoted:
TomJeff, Mcantu,

+1

Some of the crackers on this forum amaze me.

G

"Cracker"? Say what? Isn't that a nice word

. Can you say: racial slur? Well why don't we start using the "n"-word, then? How about some other ones which I am too much of a gentleman to mention?

Why is it OK to say cracker, but not (insert random racial slur here)?

Posted: 8/9/2005 5:35:11 AM EDT

[#13]

Two of the homes on my street recently sold to several illegal immigrant families. There are at least 5 families living in each home and they have at least 15 cars parked on the street.

Posted: 8/9/2005 5:37:15 AM EDT

[#14]

Quoted:
Ok, so they contribute to the economy, put down ties in the community and pay school and property taxes...where's the problem?

That home becomes a forward base of operations for the hundreds of relatives waiting in Mexico to come here.

Posted: 8/9/2005 5:54:52 AM EDT

[#15]

Quoted:
Quoted:
TomJeff, Mcantu,

+1

Some of the crackers on this forum amaze me.

G

"Cracker"? Say what? Isn't that a nice word . Can you say: racial slur? Well why don't we start using the "n"-word, then? How about some other ones which I am too much of a gentleman to mention?

Why is it OK to say cracker, but not (insert random racial slur here)?

don't you know that only white people can be racist

Posted: 8/9/2005 6:04:37 AM EDT

[#16]

Quoted:
Ok, so they contribute to the economy, put down ties in the community and pay school and property taxes...where's the problem?

+1

Posted: 8/9/2005 6:46:53 AM EDT

[#17]

Quoted:
Quoted:
Ok, so they contribute to the economy, put down ties in the community and pay school and property taxes...where's the problem?

+1

The 11 to 40 million illegals living in the USA are artificially inflating the cost of housing for one thing.

Posted: 8/9/2005 7:01:50 AM EDT

[#18]

Another prospective buyer, Aaron Sanchez, was pre-approved for a $200,000 loan

This is the part that really annoys me. I was with my great-great-niece and her husband last week when they were turned down for the second time for a home loan. They want to buy a brand-new nice house that happens to be in a bad neighborhood. It's only $65k because of the location. She makes $45k as a teacher and he makes $22k as an electrical engineer, so they make more in a year than the house costs. There's nothing negative on either of their credit reports, and they've each had the same job for over five years. I talked to my niece on the other side of the family who is a VP of one of the largest banks in the country, and even she couldn't get them the loan. I'm sure they'll find a loan, but it's annoying someone here illegally could get a loan for $200k.

Posted: 8/9/2005 7:20:12 AM EDT

[#19]

Quoted:
Ok, so they contribute to the economy, put down ties in the community and pay school and property taxes...where's the problem?

Income tax would be a start. Paying for medical insurance instead of running up my rates because they take their child to the ER for sniffles, while I wait a month for an appointment.....

And, what about the 5 other laborers living in the one mortgaged place? How many of them are contributing and not sending all of their money back to Mex. Of them, how many make more money, as the money goes 30% further being untaxed, than many of us, and since it is also under the table, are eligible for welfare and state paid medical insurance?

How many US citizens can purchase property in Mex?

How many illegals have car insurance?

Should we continue discussing the illegal immigrant and how he graciously contributes to our society, like legal residents do?

Posted: 8/9/2005 9:03:05 AM EDT

[#20]

Quoted:
Quoted:
TomJeff, Mcantu,

+1

Some of the crackers on this forum amaze me.

I'll remind you about your comment when your kids and grandkids are the minority and have NOTHING!

I doubt it. How many Brits own homes in Florida? How many Americans own homes in France and Italy? Spain is full of non-resident, non-citizen owned property. My point is that people don't have to be citizens to own property in a country. Well, at least free market-based countries.

It is better that the families in question own property and pay taxes. Property ownership leads to higher participation in civic activities.

As for the family that makes $70K and can't get a loan, I say that example is either only part of the story or complete bullshit.

I am a proud cracker, thank you. It is not a bad thing, necessarily, to be one.

G

Posted: 8/9/2005 10:30:44 AM EDT

[#21]

Quoted:
Another prospective buyer, Aaron Sanchez, was pre-approved for a $200,000 loan

This is the part that really annoys me. I was with my great-great-niece and her husband last week when they were turned down for the second time for a home loan. They want to buy a brand-new nice house that happens to be in a bad neighborhood. It's only $65k because of the location. She makes $45k as a teacher and he makes $22k as an electrical engineer, so they make more in a year than the house costs. There's nothing negative on either of their credit reports, and they've each had the same job for over five years. I talked to my niece on the other side of the family who is a VP of one of the largest banks in the country, and even she couldn't get them the loan. I'm sure they'll find a loan, but it's annoying someone here illegally could get a loan for $200k.

I smell something here, and it ain't flowers. Who the fuck won't give a couple who makes $67,000 a year a $65,000 loan? Something aint right here - time to find another bank. Hell, I qualify for a $140,000 loan on just MY income, which is lower than $67,000.

Posted: 8/9/2005 10:42:03 AM EDT

[#22]

Quoted:
Quoted:
I'll remind you about your comment when your kids and grandkids are the minority and have NOTHING!

I doubt it. How many Brits own homes in Florida? How many Americans own homes in France and Italy? Spain is full of non-resident, non-citizen owned property. My point is that people don't have to be citizens to own property in a country.

Too bad we're not talking about the "average income" person.......we're talking peasant class people, let's be honest.

I wouldn't mind if "Pablo" wanted to come here LEGALLY as long as he brought $300,000 with him to buy a home or start a business. But it's the border jumpers who are here SUCKING from Uncle Sams tit while I'm FORCED to pay for it!
No, these hispanics aren't over here looking for a summer home or a vacation condo!

Posted: 8/9/2005 10:50:21 AM EDT

[#23]

Quoted:
Quoted:
Quoted:
TomJeff, Mcantu,

+1

Some of the crackers on this forum amaze me.

I'll remind you about your comment when your kids and grandkids are the minority and have NOTHING!

I doubt it. How many Brits own homes in Florida? How many Americans own homes in France and Italy? Spain is full of non-resident, non-citizen owned property. My point is that people don't have to be citizens to own property in a country. Well, at least free market-based countries.

The vacation homes of wealthy world travelers has exactly what to do with federally insured lenders giving border jumping criminals home loans?

Posted: 8/9/2005 11:33:23 AM EDT

[#24]

Here, I'll try to put in terms that perhaps you can grasp:

Issue 1) Apple - ownership of property regardless of country of origin

Issue 2) Orange - illegal entry and residence in a country

The article, as well as your arguments, are confusing two separate (one legal, one not) issues.

There, have Mommy make you some chocolate milk.

G