Banksters hope to profit off illegal immigration
The San Diego housing market is one of the most expensive in the country and many first-time home buyers are simply priced out of the market. Even if you can somehow scrape together enough money for a down payment, rising interest rates and mortgage insurance make it exceedingly difficult to become a homeowner. That is, unless you happen to be an illegal alien.
If you are in the country illegally, don’t have a valid social security number and use a taxpayer ID number instead, you’re in luck. The Association of Community Organizations for Reform Now (ACORN) has persuaded Citibank, one of the nation’s largest banks, to help out. Illegal aliens in San Diego can purchase a home at below market interest rates, receive down payment assistance, and not have to take out mortgage insurance like other risky customers do.
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# posted by madthumbs @ 1:58 PM
