MEXICAN BAILOUT?

US Home Foreclosures

TOP 5 States
Nevada
California
Arizona
Florida
Colorado


Who's to blame? What went wrong? Who's losing their homes? Who's really getting bailed out?



House Flippers?

Banks issuing NO $ Loans?

"We're not required to ask the immigration status of any of our customers. That is the responsibility of the federal government," Wells Fargo bank representative Jerry Ruiz said.

Wells Fargo will begin accepting a different form of identification--a nine-digit Income Tax Identification Number, known as an ITIN--to allow these potential homebuyers to obtain home loans. The Internal Revenue Service issues ITINs to individuals who do not have a Social Security card, including illegal immigrants, for tax-paying purposes.

"These loans are highly controversial," said David Barr, a spokesman for the Federal Deposit Insurance Corp., which supervises the nation's banks. "Anything dealing with ITINs and immigration are two hot-button issues. But banks are offering these products."

Wells Fargo further defends the home loan offers by citing the U.S. Patriot Act, which recognizes ITINs as well as matricula cards as acceptable forms of identification. Banks are not required to ask the residency status of customers.

Some may think I'm racist or prejudice but here in AMERICA we are entitled to our opinions and opinions mean more when they are backed by unimpeachable FACTS. Over the last 10 years Americans have seen a decline in wages,healthcare coverage,entitlement benefits(SSI,Welfare,etc), education and more. Living in the Southwest US where the majority of the population is Hispanic we have NO DOUBT why. Mexico has been sending their poor & uneducated in droves across the border to take advantage of the lax US Immigration Enforcement. Hispanics are taking FULL advantage of our system & the FEDS are too chicken shit to do anything so who suffers-ALL OF US. Our banking system is collapsing because nobody wants to pay their debt, Our healthcare system is crumbling because nobody wants to pay their BILLS, Our education system is the WORST because nobody wants to learn the LANGUAGE, Wages are down because ANY amount of $ in America is better than $2/a day in MExico if you can get work. And Social Security will be gone if it isn't already because now you don't even have to be a citizen to collect benefits. Look at the maps & figure out for yourself if there isn't a DIRECT correlation between illegal immigrants & Foreclosures. Banks don't require Legal status to issue mortgages so what did you think the greedy bastards would do. Of course they take advantage of the ignorant to make a $. LEAVE A COMMENT!!