Although there is no formal tally, Mexican consular sources say a growing number of illegal immigrants across the United States are starting to pack their bags and return home.Immigrants hit hard by U.S. slowdown and subprime crisis
Illegal immigrants were able to buy U.S. homes during the boom years, either by showing evidence that they pay taxes or by simply presenting false documents.
Many of them took out high interest fixed-rate loans or subprime mortgages with a low entry rate that later rose sharply. Experts say language difficulties made them more vulnerable to being offered, and taking, bad deals.
And almost half of the mortgage loans in the hands of Hispanics are subprime, making them especially vulnerable to the housing downturn.
16 comments:
So they're packing up and shipping out, huh? Guess I'll have to mow my own lawn and look after my kid? Actually, I'm ok with that.
News flash: "Large Asteroid to Strike Earth on July 4, 2008, Destroy Humanity - Illegal Immigrants, Women, and Minorities Hit Hardest - Details At 11PM"
"Experts say language difficulties made them more vulnerable to being offered, and taking, bad deals."
Rule of thumb: If you can't understand the damn mortgage loan documents, you shouldn't sign them!
Does that mean the Korean developers
will be buying out Elmhurst & Corona?
Nelson, a 29-year-old legal immigrant and construction worker from El Salvador, had a miserable run of luck in November, when he lost his job and his subprime mortgage bills jumped $650 to about $2,650..."You have to sign a lot of things when you buy a house, so I didn't read, I just signed. I think it was the anxiety, the happiness of buying my house," he said. "I feel a bit betrayed."...First lesson when you come to the U.S.- YOU ALWAYS READ BEFORE YOU SIGN! or perhaps bring the documents to an interpreter if there is a language barrier...
Maybe the wealthier ones that are here are ready to move back, but for all intents and purposes there will be no change.
The potential immigrant population that can be tweeded are bottomless, particularly since everyone now knows that clubhouse put a big neon sign over Queens saying WELCOME!!!!!!!!!!!!!!!
I understand it is even visible from outer space.
Lovely legal immigrant Michelle Malkin - columnist and FOX Commentator - recently wrote that 70% of mortgages now in default, were originally obtained by lies on the mortgage application.
So, adios, invaders. You cheated on the way in; you cheated by working here; you cheated on your home purchase; now go on back and lie about how wretched we are here.
Hola Carlos, I have veryee bigg casa for free chico! The big banco man give mucha extra pesos on top.
Come up, you work for me I give you big job on Roosevelt Ave. houses make big dinero - bring many neigbors here, feed all - fresh tacos, free mat, many warm chicas here. Silver everywhere - life is good - no Federales problems, vote at Consulate Mexicanos, especiales Spitzer driveros license. Paperos forms in espaniaol. Free money senior,no carte verdi - come up.
..."You have to sign a lot of things when you buy a house, so I didn't read, I just signed. I think it was the anxiety, the happiness of buying my house," he said. "I feel a bit betrayed."...First lesson when you come to the U.S.- YOU ALWAYS READ BEFORE YOU SIGN! or perhaps bring the documents to an interpreter if there is a language barrier...
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A product of the tweeded class.
We will give you a chicken if you vote for me.
The candidate's platform? Record? How are they improving the community?
hahahahahahehehehehehohohoho
And guess who's left holding the bag?
Adios, amigos. Don't let la puerta hit you on the coolo on the way out,bandejos!
boo hoo
adios amigos
luv... a legal immigrant
who is a legal citizen for 25 years.
say hi to abuela and tio pepe.
Good riddance. When you get back to Mexico, be sure to tell your amigos how terrible life is in the U.S.
Hey in America
you can walk away from all your bad debt,
go back to Mexico
where your credit rating won't be affected!
I loved that country
and might have eventually (ha, ha)
become a citizen
but its warmer down here back home!
"La cucaracha, la cucaracha
marijuana por fumar "!
One important point to clarify regarding Michelle Malkin, from her Wikipedia entry:
"Malkin was born in Philadelphia to Filipino parents, Dr. Apolo and Rafaela Maglalang, who had recently arrived in the United States."
Her PARENTS are legal immigrants, she was born here, and is just as American as you or I! She's definitely MORE American than the "Tweeded"!!
You shall not molest the foreigner, remember when you were aliens in another's land.
You shall not molest the foreigner, remember when you were aliens in another's land.
Agreed, especially when you are invited to come.
If you are not invited on my property and you slip under the fence in darkness and I catch you well you know the rest.
If you are invited, your are welcomed to stay as long as you are a good guest. If you prove that you wish to join us you are welcomed if you abide by our beliefs and become us. We will in kind do the same for all invited guests. We will also uphold our beliefs together in a strong unbending way.
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