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LA RAZA IMPLICATED IN THE MORTGAGE MELTDOWN
WHAT IS THE IMPACT OF ILLEGALS IN OUR JOBS?
THERE ARE ONLY EIGHT (8) STATES THAT HAVE A POPULATION GREATER THAN LOS ANGELES COUNTY WHERE MORE THAN HALF THE JOBS GO TO ILLEGALS USING STOLEN SOCIAL SECURITY NUMBERS!!!!! THIS SAME COUNTY PAYS OUT $600 MILLION PER YEAR IN WELFARE TO ILLEGALS.
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THE MEXICAN FASCIST PARTY of LA RAZA AND MEX CRIMES:
But there’s so much more, according to blogger and journalist Michelle Malkin:
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. ( Proving corruption in high levels of our government) our SENATORS are operating in a Clandestine manner.
LA RAZA HARRY REID’S STATE OF NEVADA IS NOW 25% ILLEGAL! IT HAS SOARING UNEMPLOYMENT, THE HIGHEST FORECLOSURE RATE IN THE NATION, AND SOARING WELFARE TO ILLEGALS.
HARRY REID HAS TURNED OVER MILLIONS IN TAX DOLLARS TO THE MEX FASCIST PARTY of LA RAZA SO THEY COULD EXPAND MEX SUPREMACY IN NEVADA! THE MEXICAN GOVERNMENT, WHICH HAS MORE CONSULATES IN OUR BORDERS THAN ANY OTHER NATION, HAS JUST OPENED TWO NEW ONES. ONE IN MEX OCCUPIED LAS VEGAS, AND ONE ON THE ISLAND OF CATALINA, CONSIDERED A WATER GATEWAY FOR THE MEX DRUG CARTELS.
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“Rep. Marchant's bill is a result of a major case in Nevada where a loan officer submitted false income and employment documentation to help illegal aliens secure FHA loans. The scam totaled $6.2 million in loans with many going into default, costing HUD nearly $2 million.”
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WHO DO YOU REALLY THINK IS WINNING THIS WAR AGAINST THE MEX INVASION?
OBAMA, AND HIS LA RAZA DEMS GAVE OUR JOBS TO ILLEGALS, THEN TRILLIONS TO BANKSTER CRIMINALS… we’re left with… the bills for the MEXICAN WELFARE STATE!
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states that border Mexico caused the meltdown (simply loans to ILLEGALS)
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September 25, 2008
It’s also no accident that the vast majority of the mortgages already defaulted on or about to default come from states where illegal immigration is the most rampant. According to the New York Times: California, Arizona, Texas and Florida. It was time to scam America internally and externally.
The mortgages, with an average size of about $450,000, were Alt-A loans — the kind often referred to as liar loans, because lenders made them without the usual documentation to verify borrowers’ incomes or savings. Some of the loans came only via an on-line application with no appearance of the person getting the loan was needed. Nearly 60 percent of the loans were made in California, Florida and Arizona, where home prices rose — and subsequently fell — faster than almost anywhere else in the country.
But there’s so much more, according to blogger and journalist Michelle Malkin:
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. ( Proving corruption in high levels of our government) our SENATORS are operating in a Clandestine manner.
(A clandestine operation is an intelligence or military operation carried out in such a way that the operation goes unnoticed).
Come on people it is 1776 all over again. Some of the owners of the Federal Reserve live in England and Germany. The largest shareholder in the illegal stock of the Federal Reserve lives in England, by the way, this is why England's money is worth the most on earth. Gold prices are set in London each morning. The Euro is the second strongest currency followed by the USA.....we are mere puppets for paying the piper to make these people rich beyond imagination.
So, once again, U. S. citizens will pay for the lawlessness of our leaders and their friends on Wall Street. It is a very bad time for our country!
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MEXICANOCCUPATION.blogspot.com
“The principal beneficiaries of our current immigration policy are affluent Americans who hire immigrants at substandard wages for low-end work. Harvard economist George Borjas estimates that American workers lose $190 billion annually in depressed wages caused by the constant flooding of the labor market at the low-wage end.” Christian Science Monitor
Scarcity of jobs puts more at risk of foreclosure
By ALAN ZIBEL and CHRISTOPHER S. RUGABER, AP Business Writers
Thursday, August 26, 2010
(08-26) 14:03 PDT WASHINGTON (AP) --
The jobs crisis is putting more Americans at risk of losing their homes.
One in 10 households is facing foreclosure, and more than 2 million homes have been repossessed since the recession began. Few expect the outlook to improve until companies start to hire steadily again and layoffs ease.
And while there was some good news Thursday — a modest decrease in the number of Americans filing for jobless benefits for the first time in a month — the figure is still too high to bring down the unemployment rate.
So the housing crisis goes on.
"Ultimately, the housing story, whether it is delinquencies, homes sales or housing starts, is an employment story," said Jay Brinkmann, the top economist for the Mortgage Bankers Association.
It's just one of the problems confronting Federal Reserve chief Ben Bernanke as he speaks Friday at a closely watched conference in Jackson Hole, Wyo. The Fed has mostly exhausted its ammo to give the economy a jolt.
Just under 10 percent of homeowners had missed at least one mortgage payment as of June 30, according to a quarterly report on delinquencies released by Brinkman's trade group. That's more than double the level before the recession.
The percentage of mortgage borrowers receiving foreclosure notices did fall slightly from the previous quarter, the first drop in four years. And the percentage of loans receiving their first notice of foreclosure also dipped.
But many experts say the situation is getting worse. July was the worst month on record for new home sales and the worst in 15 years for sales of previously occupied homes.
The supply of unsold homes on the market keeps getting bigger. At the same time, the growing number of foreclosures keeps pushing down home prices and scaring potential buyers and sellers from the market.
More than 2.3 million homes have been repossessed by lenders since the recession began in December 2007, according to foreclosure listing service RealtyTrac Inc. And 6 million more will be lost to foreclosure over the next three years, by some estimates.
If that happens, home prices will probably sink further, and the economy will suffer. Builders will keep construction to a minimum, and Americans will be less willing to spend because of their lost home values.
"Housing is certainly not going to help the recovery," said Michelle Meyer, a Bank of America economist. "It threatens to hinder it."
A major problem is that many people have homes that are now worth less than they owe on their mortgages. Approximately 11 million homeowners, or 23 percent of those with a mortgage, were "underwater" as of the end of June, real estate data provider CoreLogic reported Thursday. Nevada had the highest number of any state, with 68 percent.
The number of "underwater" mortgages was down from the previous quarter — but only because homes are being repossessed by lenders.
The number of Americans missing payments and falling into foreclosure has gone up along with unemployment. The jobless rate has remained near double digits all year.
First-time requests for unemployment benefits fell last week to a seasonally adjusted 473,000. It was the first decline in a month and came one week after the number hit the half-million mark — the highest level in nine months.
Even with last week's decline, though, the four-week average in unemployment claims, which evens out the week-to-week volatility, rose to 486,750, the most since November 2009. In a healthy economy that number is more like 400,000.
Losing a job or having health problems that lead to high medical bills are among the reasons many people fall behind in their mortgage payments.
Toni Cloyd experienced both and fell behind twice on her monthly mortgage payment of $2,200 — first in 2006 after undergoing surgery and again in 2008 after she lost a job and was out of work for six months.
The Denver woman says she tried to catch up. She enrolled in the Obama administration's main program to help homeowners at risk of foreclosure by lowering their monthly payments. She says she made payments that were never applied, and the bank is still demanding $98,000 in missed payments, lawyer's bills and late fees.
Bank of America says she never provided proper documents and was not approved for the mortgage modification.
The end result came earlier this month. She pulled into the driveway and was embarrassed to find a foreclosure notice tacked to her door.
"It makes us appear to be deadbeats," she said. "We've done everything that we possibly could to resolve this."
Like Cloyd, nearly half of the 1.3 million homeowners who have enrolled in Obama administration program have been cut loose through July, the Treasury Department said last week. The program is intended to help those at risk of foreclosure by lowering their monthly mortgage payments.
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WELLS FARGO LONG AGO HAD ITS CA MORTGAGE LICENSE REVOKED FOR MORTGAGE CRIMES! THIS BANKSTERS SIMPLY DECLARED ITSELF ABOVE THE LAW, AND WENT ON PLUNDERING COMMUNITIES ALL OVER THE COUNTRY WITH THE SAME PRACTICES.
“Wells Fargo said last month that first-quarter profit jumped 53 percent from a year earlier as borrowers rushed to refinance mortgages amid record-low interest rates.”
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Lou Dobbs Tonight
Monday, November 12, 2007
Mortgage giants Wells Fargo and Countrywide Financial are accused of slapping dubious fees on homeowners struggling to save their homes. With fewer new mortgages being written, these
companies appear to be leaning on these lucrative fees to stay profitable—with devastating consequences for homeowners. We’ll have that report.
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In Rep. Dan Tancredo’s district there have been more than 10,000 mortgages owned by illegals that went into foreclosure. It’s only part of the border to border crime wave perpetrated by illegals from Mexico.
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Time to fight AMNESTY and OPEN BORDERS?
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(OBAMA, HIS ENTIRE LA RAZA INFESTED ADMINISTRATION along with the LA RAZA DEMS, FEINSTEIN, BOXER, PELOSI, LOFGREN, AND REID HAS VOTE HARD AGAINST E-VERIFY, ALONG WITH OPEN BORDERS ADVOCATES, THE U.S. CHAMBER OF COMMERCE)
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"My bill will potentially save millions by cutting down on fraudulent claims from illegal immigrants and protect taxpayers from subsidizing the restructuring or renegotiation mortgages of illegal immigrants." REP. KENNY MARCHANT (R-Texas)
E-Verify for Mortgage Applications (fraudulent claims from illegal immigrant)
Rep. Kenny Marchant Proposes Bill to use E-Verify for Mortgage Applications
Tuesday, February 9, 2010, 9:56 AM EST - posted on NumbersUSA
Rep. Kenny Marchant (R-Texas) has offered the Mortgage E-Verify Act that would require a mortgagor to be verified through E-Verify when applying for a modification of a home loan owned by Fannie Mae or Freddie Mac.
"As a member of the House Financial Services Committee, I am happy to introduce my bill, the Mortgage E-Verify Act, which would require, as a condition for modification of a home mortgage loan held by Fannie Mae or Freddie Mac or insured by the Federal Housing Administration (FHA), that the mortgagor be verified under the E-Verify program," Rep. Marchant said in a press release. "My bill will potentially save millions by cutting down on fraudulent claims from illegal immigrants and protect taxpayers from subsidizing the restructuring or renegotiation mortgages of illegal immigrants."
Rep. Marchant's bill is a result of a major case in Nevada where a loan officer submitted false income and employment documentation to help illegal aliens secure FHA loans. The scam totaled $6.2 million in loans with many going into default, costing HUD nearly $2 million. The loan officer was found guilty on 32 counts of submitting false information.
"E-Verify is a fantastic program which I have supported making permanent for employers," Rep. Marchant said. "Mandating its use as a condition for home mortgage loan modifications would help eliminate waste, fraud, and abuse in the system and bring integrity to the process. In fact, the Treasury Department's Financial Crimes Enforcement division (FinCEN) estimates that mortgage fraud increased 1,411 percent from 1997 to 2005. Furthermore, two-thirds of fraud reports in the last decade are due to falsified statements on loan documents. My bill would curb these abuses and protect the taxpayers."
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E-BROADCAST THIS AROUND THE COUNTRY!
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