Should Mortgage Loans be made to Illegal Aliens?

The Poison Mortgages that collapsed the American Banking system apparently were the ITIN Mortgage Loans.

http://www.hipoteca.net/mortgages/refinancing/loans/itin_loan_programs/

Loans, known as ITIN loans, are offered to illegal immigrants that do not have a Social Security number. They can qualify for the loans by obtaining an Individual Taxpayer Identification number (ITIN) from the Internal Revenue Service.

http://www.eliudgautier.com/itin.html
http://activerain.com/groups/itinloans

I believe it should be stopped immediately, and the bail out should not go forward for such loans. It is illegal to loan to an illegal alien, so if it was a Citizen that defaulted, fine.. we buy it, but it it was an illegal aliens with the mortgage loan, it is the banks business.

Register New Account
Reset Password