Should Mortgage Loans be made to Illegal Aliens?
The Poison Mortgages that collapsed the American Banking system apparently were the ITIN Mortgage Loans.
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.
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.