Rekjalhew

December 5, 2005

US Government helping illegal aliens get home loans

by @ 4:43 pm. Filed under Business, Illegal Aliens

President Bush may have started talking tough about the border, but he didn’t say a word about this!

Illegal aliens getting home loans

Javier and Araceli Garcia, illegal immigrants from Mexico, never imagined that the U.S. government would help them buy a home.

But last year, the couple secured a $54,600 mortgage to buy the gray, 1,158-square-foot bungalow that they had been renting for eight months. The Wisconsin housing authority financed the loan. The Internal Revenue Service gave them an identification number that let them apply for it at local Mitchell Bank, which was happy to take their business.

?We thought we would never buy a home, because of our (illegal) status,? said Mrs. Garcia.

Competition for new customers is driving banks to offer home loans and other financial services to illegal immigrants ? and they are getting help from government agencies, such as the Federal Deposit Insurance Corp.

The FDIC encourages banks to lend and invest in underserved markets regardless of customers? immigration status.

Why not risk entering the US illegally, if the US government is going to help you get a home once you’re here? What’s the point of waiting to enter legally, when you can do almost everything but vote?!! This is a major issue. While banks are hungry for new customers, they are offering some great deals. But if a lender is able to secure a lot of new loans with illegals, in time banks’ hunger for customers could become a little satisfied. Meaning some banks could start offering slightly inferior deals, because loans with illegals are keeping the bank in business. Some of those banks may have been closed in a free and legal marketplace, so that other better banks could make their offers for customers’ business. With a larger pool of customers to keep a bank afloat, any bank that engages in unfair lending practices can more easily do so. Because each new loan granted is not as necessary for the bank’s survival.

And what if you don’t live in a so-called “underserved market”? While you might have a slightly harder time getting a good loan, there are illegals getting good deals. Because the FDIC is encouraging banks to offer the deals. While helping the “underserved” might be nice, helping people who are underserved and illegal encourages the wrong type of lending. Because it only fuels illegal immigration. Once an illegal immigrant sends his folks over the border a picture from their new house in the USA, that the government helped them get. It only makes people outside of the USA feel that illegal immigration is embraced by our nation!

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The post written above by The Independent Conservative is a contribution to the Guard the Borders blogburst, brought to you every Monday by Euphoric Reality. The purpose of Guard the Borders is to raise awareness about the illegal immigration problem. If you care about our borders and want to join the blogburst, send your blog name and URL to kit.jarrell at gmail dot com.

Blogs Already on Board:

Euphoric Reality’s latest post about illegal immigration.



2 Responses to “US Government helping illegal aliens get home loans”

  1. AirborneVet Says:

    Now that this couple has been named in the article, I hope their house is reposessed and they are deported back to Mexico.

  2. IndependentConservative Says:

    The way the administration has started talking you would have thought that they were already gone.

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