Nashville Post Politics: Tired Of The Race Race

Nashville Post Politics

Tired Of The Race Race

Sean Braisted is apoplectic at the racial dynamic developing in regards to our current economic crisis:

When the economic fiasco started going down a few months ago, I thought that there wouldn’t really be any way for racial divisions to be exploited in a problem so clearlydeveloped in New York and Washington institutions.Damn, its been interesting to see myself proven wrong. Thankfully though, it seems fairly isolated to a group of race-baiting conservatives and their huddled masses listening on the radio and watching Fox News…we’ll see if that virus spreads elsewhere in the coming weeks. Luckily, one mainstream news organization has the cojones to challenge the rightwing hate machine, and they have pretty well evicerated the memes being promoted by the Dixiecrat descendants.

Media Matters: Conservative radio hosts claimed HUD said 5 million illegal immigrants were given subprime mortgages, despite HUD’s reported denials

Media Matters

Conservative radio hosts claimed HUD said 5 million illegal immigrants were given subprime mortgages, despite HUD’s reported denials

Rush Limbaugh and KSFO’s Lee Rodgers repeated a variation of the claim that the U.S. Department of Housing and Urban Development (HUD) gave “5 million illegal aliens” subprime loans that they have not paid back. Quinn & Rose‘s Jim Quinn also cited the 5 million statistic without citing a source for the figure. None of these radio hosts noted that HUD has reportedly stated that this statistic is false.

Right Wing News: Illegal Aliens with Illegal Mortgages

Right Wing News

Illegal Aliens with Illegal Mortgages

A single report by KFYI radio 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 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.

Neal Boortz: ILLEGALS AND THE MORTGAGE CRISIS

Neal Boortz

ILLEGALS AND THE MORTGAGE CRISIS

 

The mainstream media has yet to report this figure … so here we go. The U.S. Department of Housing and Urban Development reports that five million fraudulent home mortgages are in the hands of illegal aliens. As of right now, it is not known how many of these mortgages have contributed to the subprime mortgage meltdown.

But here’s some history to consider. We know for a fact that there are states out there, like California, that knowingly allow illegal immigrants to buy homes. Guess who you can thank for that aiding that little scheme? ACORN. Yes, ACORN. Barack Obama’s very favorite … Take a look at this story from November of 2005. Here’s how it begins: “For many, it’s the American dream: owning a home. With the recent spike in housing costs, it’s become more difficult for many Valley families to qualify for a home loan. But some local banks are giving out loans, and they don’t even require a social security number.”

Isn’t that amazing?! No Social Security number. That would be code for “making a loan to an illegal alien.” What they actually end up using are Individual Taxpayer Identification Number, or I-TIN, to secure these mortgages. While these numbers are supposed to be for foreign-born residents who live legally in the United States, it is common knowledge that these numbers are used primarily by illegal aliens.

Moving right along … the article tells a little story about David the illegal immigrant. When David, a criminal, wanted to get a home, who did he go to for help? ACORN. The article says, “The Valley non-profit group Acorn is helping people like David. They set him up with Citibank in Fresno, where a social security number is not required.”

Back in 2005, it was estimated that there were 250,000 illegal immigrants in the US who make enough money to be eligible for a home loan. Now HUD is estimating that there are 20 times that amount who currently have mortgages? Those 250,000 were estimated to be worth about $60 billion in potential mortgages. If there are 5 million illegal aliens currently holding fraudulent mortgages, imagine how many billions we are talking.

We’re looking at just another reason we are in this position to begin with. Somewhere along the way, people began adding things to our Constitution that DO NOT EXIST. For example, “the right to own a piece of the American dream.” David, the illegal immigrant, says “I work hard like any other citizen and I try to live just like a normal citizen. And I have everything, I think I still have my rights.”

Now to show you what a fair and balanced kinda guy I am, I will point you to this statistic. Illegal immigrants who do own homes have a lower rate of delinquency than legal US citizens. This is based on foreclosure rates of people who use Social Security numbers to buy a home compared to the Taxpayer Identification Number. Just something to consider …