It’s no coincidence that most of the areas hardest hit by the foreclosure wave – Loudon County, Virginia, California’s Inland Empire, Stockton, San Joaquin Valley, Las Vegas, and Phoenix, for starters — also happen to be some of the nation’s largest illegal alien sanctuaries. Half of the mortgages to Hispanics are subprime (the accursed species of loan to borrowers with the shadiest credit histories). A quarter of all those subprime loans are in default and foreclosure.

Regional reports across the country have decried the subprime meltdown’s impact on illegal immigrant “victims.” A July report showed that in seven of the 10 metro areas with the highest foreclosure rates, Hispanics represented at least one-third of the population; in two of those areas – Merced and Salinas-Monterey, Calif. – Hispanics comprised half the population. The amnesty-promoting National Council of La Raza and its Development Fund have received millions in federal funds to “counsel” their constituents on obtaining mortgages with little to no money down; the group almost succeeded in attaching a $10 million earmark for itself in one of the housing bills past this spring.

For the last five years, I’ve reported on the rapidly expanding illegal alien home loan racket. The top banks clamoring for their handouts as their profits plummet, led by Wachovia and Bank of America, launched aggressive campaigns to woo illegal alien homebuyers. The quasi-governmental Wisconsin Housing and Economic Development Authority jumped in to guarantee home loans to illegal immigrants. The Washington Post noted, almost as an afterthought in a 2005 report: “Hispanics, the nation’s fastest-growing major ethnic or racial group, have been courted aggressively by real estate agents, mortgage brokers and programs for first-time buyers that offer help with closing costs. Ads proclaim: “Sin verificacion de ingresos ! Sin verificacion de documento !” — which loosely translates as, ‘Income tax forms are not required, nor are immigration papers.’”

In addition, fraudsters have engaged in massive house-flipping rings using illegal aliens as straw buyers. Among many examples cited by the FBI: a conspiracy in Las Vegas involving a former Nevada First Residential Mortgage Company branch manager who directed loan officers and processors in the origination of 233 fraudulent Federal Housing Authority loans valued at over $25 million. The defrauders manufactured and submitted false employment and income documentation for borrowers; most were illegal immigrants from Mexico. To date, the FBI reported, “58 loans with a total value of $6.2 million have gone into default, with a loss to the Housing and Urban Development Department of over $1.9 million.”

It’s the tip of the iceberg. Thanks to lax Bush administration-approved policies allowing illegal aliens to use “matricula consular cards” and taxpayer identification numbers to open bank accounts, more forms of mortgage fraud have burgeoned. Moneylenders still have no access to a verification system to check Social Security numbers before approving loans. In an interview about rampant illegal alien home loan fraud, a spokeswoman for the U.S. General Accounting Office told me five years ago:

“[C]onsidering the size of Los Angeles, New York, Chicago, Houston, and other large cities throughout the United States known to be inundated with illegal aliens, I don’t think the federal government is willing to expose this problem for financial reasons as well as for fear of political repercussions.”

Chickens coming home to roost. And law-abiding, responsible taxpayers are going to pay for it.

illegal immigration and border security is no big deal, if you live up north and it doesn't actually impact you

if you live in a border state or even close to it, it's a major big deal and the status quo is not acceptable

On this we agree but I would submit that a number of Americans ARE in fact concerned about illegal immigration. We are witnessing the dawn of scary financial times and illegal immigration and the cost of such immigration is a huge financial concern to many. If, as Senator Obama states, the laws must be followed then I will look for him to immediately step up a serious commitment to securing our nation's borders. Wow, it was hard to type that without an involuntary rolling of the eyes. Neither party has been responsible in regards to this issue and in that such security is first and foremost a responsibility of upholding our Constitution, I find it more than a bit sad that we seem to wink, nod, and look the other way.

But, check out this fact

How the military would vote - we see, it's a racial issue (Afro-American vote for Obama, because he's black)

http://www.militarytimes.com/static/projects/pages/081003_ep_2pp.pdf

68% for McCain
23 for Obama

He is losing the race (smile) as he sure shouldn't sit in THAT seat because he is not
THE
ONE! The Military times did FIFTEEN (15) voting polls against all factors, O lost them all, but the one on race, hummmmmm

Peace, BB

AOL straw vote has McCain landslide

Mc 58%
O 41

And other poles, would be nice!
Shame they have the early voting in alot of states, as alot of things have come out recently, that might have changed people's mind.
Peace, BB

(Nice thought on dif voting days tho LOL)

I've been to Mexico, it wasn't that bad.

Well, I think now we know that at the very least, illegal immigration won't be a top priority for President Obama. I mean, if he can't manage to keep track of his own family I think it unlikely that he'll be any better when it comes to keeping track of the thousands who cross here illegally each year.

Both parties have plenty to be ashamed of as it relates to the issue of immigration in that both parties have ignored the issue--hoping I suppose that it will simply go away. It won't and anyone with an I.Q. of a moth knows as much.

-Drew

Lol, yeah that's the one. And I assume it was mysterious that posted it, but I see no record of him posting it. I think Ping pong was only quoting and deleted one too many tags.

Was going to respond to his post, but if it was deleted..... perhaps I should let it lie.

Too bad. I had lots of good sheep material.

ha ha ha

You all can't stand it can you? A pro-gun democrat stuns you.

Obama doesn't want to take your guns.

The NRA does want to take your money.

If you gun totin' right wingers ever wake up and hold the republican party responsible for it's lies lemme know please.

Meanwhile, I will own guns secure in the my constitutional right to do so and worry about real issues.

Half aunt? How can you half a half aunt. Can have a half-sibling, because of one shared parent.


Do you also think that parents of children who break laws should be held as criminally responsible for the crimes as the child who commited the crime?

The U.S has about as many people as it has guns,
About Three hundred million.

Canada has about twenty four and a half million people and seven million guns, And almost twice the crime rate as the U.S

The U.S has over 300,000,000 guns, Canada has 7,000,000

Who here knows which country has the higher VIOLENT crime rate?

Rember, Canada has much fewer people than The U.S