Why are banks giving mortgages to Illegal immigrants?
Answer:
Its a big greedy scam by corporatist, to have these homes later foreclosed for that same reason you ask, being here illegally. But, in the meantime the Realtors and bankers are encouraging this deception to a vulnerable group of people. Who will most likely lose any claim in court, or be able to re-coup their losses. Regardless, of these corporations involvement in this illegal transactions, being made with undocumented immigrants.
I can only gue$$ at the rea$on why bank$ would $ell out the United $tate$.
I'm an appraiser, and some of the homes I've been in I just know the homeowners were illegal aliens, yet banks will still give mortgages. Banks are in the business of making money.
MONEY MONEY MONEY, ..........MONEY
high interest, high risk, foreclose, resell, high interest ....
Let us hope that Bank of America goes under, have to close all their banks and move to Mexico.
Bank of America?? How Republican can you get? Now, try to tell me that it's the Liberals who are fostering the large influx of illegal aliens in this country...Oh, you can't? Just as I thought!
Because the only thing they can see is making money, second because they can, because they know the government won't do anything.
my question is like these people from china and india can hardly speak english (and they lie and get free stuff and financial assistance for indigent, don't get from china or india here if indigent, gov doesn't prosecute, but of course gave them fake citizenship status for covering up for some politician at one of their child brothels in their countries, how did they pass citizenship exam if can't speak english as well as answer questions about our gov and history) i've seen some chinese come here, China communist don't let you bring ur money, own several houses and businesses and rip off americans.
even if illegal immigrant from mex, well still buy and sell and pay taxes
my question is if you're a former felon bank robber, thief, or convicted of embezzlement etc. none of that goes on your credit report, (shouldn't that be a determining factor to pay back a loan jeez), see gov. wants you to be drug dealer, paying debts is what is important to organized crime running gov not how you get your money, you see many p-diddy drug dealers in jail with all their fancy mercedes and bmw's saying pay my credit cards baby, see our gov only goes after foreign drug dealers because drug dealer p-diddy's here work for the organized crime in our gov. so the money stays here with politicians, what ever happened to the war on drugs? rapper and p-diddy drug dealers here more of a terroristic threat to our citizens in general proximity here than some foreign country.
matt laure said on today show, be careful video taping and reporting rapper and p-diddy drug dealers, you'll get urself hurt or killed. yet tell you to report terrorist? not afraid hurt there? cops and gov all work with drug dealers, like in texas take cops all the time with drug records, try to seal their records from the general public, so can't see what type of corrupt cops they hire with drug records and criminal records of moral turpitude, can't even be a school teacher with drug or crime of moral turpitude or theft record or juror, but can be a cop, even a class B misdemeanor drugs or theft (can steal up to 750) can be a cop, but class A carrying gun can't in texas, should do like New York or Fed Air Marshal and say no felon cop and what kind of misdemeanor (crime of moral turpitude), carrying a gun does not prohibit you from being jury or considered dishonest, but those other misdemeanors do, texas is set up to work for drug dealers, originally didn't want public to carry guns to make easier for drug dealers that work with corrupt gov and cops to pop you off, texas is a corrupt pedo state, rick perry makes worse, sealing felon records to general public but some private agencies can view, but if you hire (even in your own home) can't view because they plead guilty should be worse because they admit did, none of those convicted of murder (and later exonerated because of dna testing, probably wore condom) could be set free on dna testing if plead guilty because admitted, yet those that admit are guilty are rewarded and have their records sealed, our founding fathers never intended for laws like that, they warned of certain organized crime taking over gov and making corrupt and they were right, how does sealing the records protect the general public, just protect admitted criminals felons and drug dealing rappers, of course like in godfather movie media run by organized crime (in reality not italian) why even promote drug rappers and their music and videos
oh and like sheriff's dept in harris county and houston police, can be a cop with drug or theft record, but not "bad credit" lol corrupt mf all over gov. that's why never get rid of all illegal drug dealing rappers cause all cops, they don't even advertise on tv anymore to report drug dealers or drugs, cause like mayor white's daughter caught with drug paraphernalia ( a bong, but no drug residue, what a lie, organized crime reporters defend said she used to smoke tobacco, such a lie, she is still 17, can't even buy tobacco, didn't take breath test yet not drunk, breath test good for everybody else, what an example mayor) war on drugs a scam and lie to deceive public, media and gov. a part with entertainment industry trillion dollar business, use by politicians to drug and molest underage kids.
also why all foreigner convenient stores drug dealing and money laundering owned by asians and india, etc.
I agree it's a money making scam for BofA. Shame on them! They are probably charging exorbitant interest rates.
Money, Money and More Money The almighty $$$$$ Big oones and most banks are Multi National...there are very few American owned banks anymore!
It isn't only BoA that gives loans to illegals, any financial institute in America will do this. A ND anyone will sell to a know illegal, take for example, I live in Gainesville, GA. the poultry capitol of the world, we had a man from Gainesville who was running for lt. governor, he owned houses on my street and sold them to illegals, well he is now lt. governor of this state and in my opinion a criminal. America is so crime ridden and the politicians lead the pack.
Because they run a parallel economy that is too good and strong to let go. Also because Banks profit enormously from these kind of loans (high risk=higher interest) .....Read on:
I have answered this question before but I because I think it's worth repeating I'm copy-pasting it: Whoever broke the law by arranging fake marriages, SSN's or things like that should be punished somehow before receiving any kind of forgiveness. Be real though US cannot afford to be without legal or illegal Immigration. That said I'd add this: Immigration in the US today is a joke. Illegals have more rights than legal immigrants and visa holders. I lived in the US for 8 years, my whole family speak English fluently, I hold a PhD degree. However because my work visa could not be renewed and I couldn't find any loophole in the law, fake wife, or wanted to stay in the country illegally, I ended up having to leave the country my kids learned to love. We all felt at home up there (contrary to some who live in ghettos and only speak their native language) and respected the US law while the global scumbags that will probably get an amnesty in a near future will benefit from their law breaking strategies. They will find defenders who say "they work hard and pay taxes" so let me tell you all this: I did the same PLUS under the law and because of that people like me is being punished. This sucks! I'm now well adjusted back in my country but I know my kids wish they were still there. Maybe, who knows, they will go back someday but I'll make sure they take no passports, produce fake ID's and SSN's and don't forget to go in a makeshiftboat ride or cross a desert so they can be more successful.....
All banks have to follow laws from the US Patriot act as far as lending and even opening up bank accounts. They have to have proper identification required by the act and Know Your Customer (KYC) procedures. Even if somebody doesn't have a social security card they have to have other identification a secure reliable form of ID issued by a Consulate.
Easy. Two things. Money and a lack of legal consequences. But mostly money to be made on the high interest cards. What happens when the illegals skip back to Mexico after racking up debt? The legal population pays in even higher fees and interest. And the person above who said they need consulate ID doesn't take into account that to have a consulate ID you have to be here LEGALLY.
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