Maggie's Farm

Pinch Me, I Must Be Dreaming

The LA Times reports that illegal aliens are now receiving generous home loans from major national banks, despite their lack of legal status, credit, or Social Security number.  This anecdote was particularly amazing:

Silvia Avalos, a hairstylist, and her husband, Jose Luis Avalos, a busboy, are among the people Mancera is talking about. They were tired of spending their money on rent each month but didn't want to use fake Social Security numbers to buy a home.

After friends told them they could buy legally, they found a two-bedroom condo northeast of San Francisco for $280,000. They moved in as soon as escrow closed.

Two illegals working as a hairstylist and a busboy (!) can easily obtain a loan for a $280,000 condo?  With an assumed lack of any credit rating or guarantee that they even plan to remain in the country?  I would like to see the impression on my Citibank rep's face if I were to saunter in today and ask about receiving such a loan with my (probably higher than those above) salary as a young paralegal.  Not only is this a clear abuse of the law and the public trust, this sort of mindlessly greedy behavior will end up penalizing American citizens as illegals inevitably default on their loans, driving up interest rates for all prospective home-buyers.  Perhaps low-income American citizens who want to own a home should simply run across the Mexican border, toss away their passport and Social Security card, and re-enter illegally?  At the very least, you'll be able to get a driver's license, free, taxpayer-funded education and health care, and if you can land a job washing dishes for six bucks an hour, maybe a house too!