How do illegals get Bank Loans to buy houses?

Question

don't banks check credit ratings , how can an illegal get a credit rating unless they are using a fake I.D. or they stole someones identity. Do you think when illegals are caught, they should lose these homes? I do!!!

Answer 1

1.) because 18 different families live under one roof and they add up all the credit scores of all 18..that adds up to about 505..



OR



2.)

they get loans by lying. Criminals will tell lies . Plus they also go to banks that pander to the lower echelon of society to make a buck any way they can..these scum banks should be boycotted..Bank of America went out and gave credit cards to any illegal mexicans that would apply..boycott bank of america for starters..

Answer 2

Actually most banks are now catering to illegal immigrants. Banks now have marketing campaigns and have credit cards, car loans, personal and home loans targeting illegal immigrants.



Illegal immigrants sign up for an identification card known as a matrícula consular. Many financial institutions accept it for bank accounts and all kinds of loans.



Read the article at the attached link. It lists all sorts of comapnies that are catering to illegal immigrants.

Answer 3

I had a friend who makes half as muh as I do, and was able to buy a home. I found out after his divorce from his wife he convince a credit union worker to falsify documentation to show he made more than he really does. It angers me that peole who cheat are able to buy houses while I act responsible can't. I want you to note that the articles on here refer to Los ANgeles, and it's very rare to find houses below half a million. One must ask how can illegal immigrants afford them when middle class Americans can't. As for your statement, yes, if they forge documents they should also their house , but the bank needs to take a hit for not checking these records properly either. People should realize that these activites are allowed to happen to increase bank profits by artificially driving up housing prices and adding to the mortgage problem we are having.



edit: PS i met a Hispanic businessmen who owns a mortgage company. I believe his job was to help fill out paper for Hispanics with dubious documentation. As what I've seen, he himself has dubious documentation. The company as far as I know is under investigation and pretty much folded. The company that actually lend out the money is still active. These mortgage companies seem to do the illegal activities for establish business so the establish business don't take a hit if caught and shelter from negative press.

Answer 4

funds talks. U can purchase faux motive force license, I D Card , Social protection card, something u prefer. There r some legal professionals can fix up a faux marriage so as that they could stay here. as long because of fact the fees is nice.between the hose on 60 minutes, he tutor how he have been given together with his call and his photograph on a faux motive force license in 2 hours.

Answer 5

Identity theft??? No. Most banks don't require a ssn to open an acct or get a loan, in the end all that matters is that u pay it back! & why the hell should they lose they're property when they paid for it with their money! Get a life!

Answer 6

that guy gives them to them :



Milwaukee bank executive defends home loans to undocumented

Daily Reporter (Milwaukee), Oct 19, 2005 by Sean Ryan





Mitchell Bank CEO James Maloney told the Rotary Club of Milwaukee that, like it or not, undocumented immigrants are here to stay.



The fact of the matter is that if you think the 12 million people are going to be gone, that's Pollyanna thinking; we need to adjust their status, he said, also noting their role in the labor market. Their presence is at least tolerated and at times, let's be honest, it is welcomed.



Since the more than 12 million undocumented U.S. immigrants aren't leaving, he argued businesses and government entities should make efforts to include them in the American Dream. From Mitchell Bank's side of things, this includes giving them the chance to take out loans to buy houses, including low-interest Wisconsin Housing and Economic Development Authority HOME mortgage loans.



note : as u can see bellow i am not the only one who knows about it .



how nice jim is thanked but not me , great !!!

Answer 7

Banks and mortgage companies do not check to see if you are legally hear in this country. If you have job and a good credit history you can get a loan. It is not illegal of foreign citizen to own real estate in the US.

Answer 8

by definition illegal means they broke the law so if they get a home loan by fraud they should be prosecuted to the full extent of the law....

Answer 9

Identity theft.

Answer 10

yes i do think so but we both know that money talk and b.s walks money make people look the other way

Answer 11

I don't know any "illegals" that have bank loans. Why don't you ask them?

Answer 12

They lie.