Five Million Illegals Have Illegal Mortgages in U.S.A.!

From NewsBusters.org
By Warner Todd Huston

A single report by KFYI radio [1] of Phoenix, Arizona highlights a shocking claim made by the Department of Housing and Urban Development (HUD). HUD says that five million illegal aliens hold illegal mortgages. This is just one more example of the lax lending laws put into place by Democrats like Barney Frank that have contributed to this economic crisis. One would think this would be big news. But, so far we have only this one report to cover it.

There have been earlier stories of home flipping schemes that made liberal use of illegal aliens as straw buyers and the FBI has followed numerous cases [2] to prosecution and conviction. But the Old Media have not done much with this story.

KFYI reports that these fraudulent straw purchases of mortgages by illegal aliens has affected every state in the union.

One illegal alien was arrested this year in Tucson after allegedly using a stolen social security number to buy two homes and rack up over $780,000 in bad debt.

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.

Lax immigration laws have also helped make this crime easy to perpetrate.

In 1965 a Democrat Controlled Congress under President Lyndon Johnson passed the concept of "chain" immigration into law. A later commission named the Hesburgh Commission [3] convened during Ronald Reagan's first term, found that this concept statistically allowed each single immigrant to bring into this country 84 of his family members. Of course, all these people have to live somewhere making such fraudulent mortgages quite attractive.

What illegal struggling to survive is going to pass up a free house that he can move into without having to present any identification, proof of employment, financial history or even a down payment?

This story should be in every paper and on every TV news cast. Yet it isn't. I'll leave the guessing as to why with you, gentle reader.


Notice: the link to the story above is a Google cached page link because KFYI has pulled down their report.

Senator Tom Coburn: 'Bailout Is Unconstitutional'

Among the eight members of South Carolina's Congressional delegation, only Senator Jim DeMint and Representative Gresham Barrett voted against the massive transfer of taxpayers' dollars to unconstitutional, quasi-governmental entities and private financial institutions that in a free-market economy should be allowed to fail and go out of business.

In this powerful statement, Senator Tom Coburn (R-OK) cites the failure of Congress to abide by the U.S. Constitution as the root cause of economic chaos and crisis.

Bob Barr on the Mortgage Bailout

Dear Friend,

You may have heard or read media reports about actions yesterday in Congress to deal with the housing debt crisis and to bail out two private lenders known as Freddie Mac and Fannie Mae.

The bill passed the House of Representatives and will be taken up in the Senate and once through that pork factory, President Bush has said he will sign it. If I were your President I would veto it so fast, heads would spin.

The bill - and that's exactly what it is - is a bill you are going to be expected to pay! It's for an estimated $400,000,000,000. That is, of course, $400 Billion that we don't have, so more borrowing is ahead. Your share of this expense? About $1,300.

And that's on top of the more than $31,000 you already owe!

In 2001, the national debt crossed $6 Trillion. Today, it is closing in on $10 Trillion. Our debt is growing faster than at any time in our nation's history and there is no end in sight. Yesterday I issued a statement to the media blasting their actions. Today I ask your help in getting out the message that President Bush and Senators Obama and McCain are wrong for bankrupting our future with more and more debt.

First I ask that you forward this email to as many of your friends as possible. The average American doesn't understand what's going on. They have a sincere, but misguided, desire to help people less fortunate than themselves at this time of economic crisis. But this bailout only rewards people who made bad decisions and bails out those who profited from them.

Second, please consider a campaign contribution to help fund our daily operations. Your gift of $5 or as much as the legal limit of $2,300 will make a difference.

I thank you for your consideration.

Bob Barr


P.S. - You may also want to call your U.S. Senators to tell them to vote no on the big-bank bail out. And remember, if I were your President, this bill would be dead on arrival at the White House. Please help me change government. Thanks again.