Five Million Fraudulent Mortgages Held by Illegals
by Staff - October 9th, 2008 - KFYI Talk Radio
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.
Of course no provision was made in the recent two trillion dollar bailout to make sure that illegal aliens were not bailed out too. In our rush to fix the problem we have probably only made things worse. That seems to be the typical problem as we watch our legislative bodies stagger from one crisis to another, never addressing any problem until it is already a crisis. I am reminded of the constant Democrat mantra that 47 million Americans have no health insurance. It is never mentioned that 12 million of those 47 million are illegal aliens. I want a clear explanation of why the American taxpayer should care about the health insurance of those 12 million illegal aliens.