Remember: USA housing bust = DEEPLY AND DIRECTLY linked to illegal aliens
wis...@yahoo.com
<GWashingtonFan_USA> wrote:
>Financial Bust Connected to Illegal Alien Mortgages
>
>by William Campenni
>
>10/05/2009
>http://www.humanevents.com/article.php?id=33821
>
>Excerpt:
>
> "It doesn�t take the research resources of the Federal Reserve or
>Fannie Mae or the Wall Street Journal to discover this linkage of the
>subprime mortgages to the illegal alien customer base. A few hours on
>Google will bring it out with startling clarity. The distribution of
>subprimes going into foreclosure in the 2005-2007 period that commenced
>the current collapse closely matches the concentrations of illegal
>aliens -- Southern and Central Valley of California, Nevada, Texas, the
>southwest border states, North Carolina, Georgia, and Florida, and
>metro areas like Denver, Chicago, and Cleveland, and the Washington
>suburbs. The matches correlate to the ZIP code, or even more
>accurately, to the neighborhood.
>
> "To glimpse just an overview of this illegal alien/subprime
>correlation, one can go to two websites; one that provides maps of the
>subprime foreclosures (www.realtytrac.com), and another that reveals
>the concentration of illegal alien populations (pewhispanic.org). After
>2008, the spread of the housing collapse fanned out into other
>neighborhoods as the effects of the collapse and the following
>recession spread beyond the illegal alien concentrations. But these
>later upscale neighborhood foreclosures are effects, not causes. They
>flow from the collapsing economy precipitated by the failed subprimes
>to illegals.
>
> "For further validation, investigation would show that many of these
>failed mortgages were granted to unsophisticated buyers with no Social
>Security number, or a stolen number, or more commonly in recent years,
>an Individual Taxpayer Identification Number (ITIN). Who is that
>group? Not blacks. Not boomers. Not even speculators. They have valid
>SS numbers. Who's left? You figure. There are reliable data that in
>the Southern California market alone 40% of the loans went to
>historically unqualified illegal aliens or the citizen landlords
>running illegal alien crash pads. A study at the start (2004) of the
>subprime lending fiasco by the Greenlining Institute in California
>backs up this finding. It is reinforced by other studies, including a
>2007 analysis by the Center for Responsible Lending. Even in the
>shadow of the Capitol dome, the foreclosed homes are compacted in the
>neighborhoods where illegal aliens settled.
>
> "The actual percentages are probably much higher, because the
>fraudulent paperwork that facilitated many of these �liar loans� hides
>the illegal status of the borrowers and does not address the status of
>the renters ..."
>
>Collection of columns by Michelle Malkin on the direct link beteween
>illegal aliens and the the housing foreclosure epidemic
>http://michellemalkin.com/?s=mortgage+illegal+immigration
>
>Illegal Aliens, Amnesty and the Housing Crisis
>http://www.englishfirstfoundation.org/pdf/illegals_mortgage_brief.pdf
>++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
>
And our noble Federal Government cannot even control our border.
ted
http://www.numbersusa.com/ Numbers USA