Monday, October 13, 2008

HUD: Five Million Fraudulent Mortgages Held by Illegals

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HUD: Five Million Fraudulent Mortgages Held by Illegals
Economy; Posted on: 2008-10-09 12:22:45

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.

posted by jillosophy at 10/13/2008 02:11:00 PM

1 Comments:

Blogger knowitall said...

So the left-wing illuminati and the Bush Administration urged us to bailout banks who were holding phony mortgages for illegal immigrants? What else is next?

11:20 AM  

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