HolyCoast: 5,000,000 Fraudulent Mortgages in the Hands of Illegal Aliens
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Thursday, October 09, 2008

5,000,000 Fraudulent Mortgages in the Hands of Illegal Aliens

Thank you Barney Frank, Chris Dodd, ACORN, and other Democrats:
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.

It's not known how many of those have contributed to the subprime housing mortgage meltdown, but it has affected every state, including Arizona.

The problem began years ago when banks were forced to give mortgages without confirming social security numbers or borrower identification. As a result, illegal immigrants were able to obtain home mortgages which they could not afford.

Once again the good intentions of the Democrats meet up with reality in a way that hurts us all.

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