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Illegals Prop Up Prices of Housing


               
2014 Aug 28, 11:32am   739 views  2 comments

by John Bailo   follow (0)  

But it’s only thanks to a certain kind of mortgage that Hugo was able to become the owner of a three-bedroom home in north Durham, which he bought for $138,000 in late May with the help of a 30-year mortgage from the Self-Help Credit Union.

To take out the loan, he used an Individual Taxpayer Identification Number (ITIN), which the IRS issues to foreign nationals without Social Security numbers for tax-filing purposes, whether or not they are legally present. Not all ITIN mortgages go to undocumented immigrants, but they may be able to qualify for such loans, so long as the lender doesn’t require verification of legal status or otherwise screen them out.

http://www.msnbc.com/msnbc/american-dream-undocumented?cid=sm_m_main_1_20140828_30650656

#housing

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1   bob2356   2014 Aug 28, 12:20pm  

Wow, you really admit to actually reading/watching msnbc? In public no less. I notice the actual number of itin mortgages is conspicously absent. So missing that number how exactly do you know illegals prop up prices of housing?

2   Strategist   2014 Aug 28, 12:25pm  

John Bailo says

Illegals Prop Up Prices of Housing

Kinda unfair, don't you think? Legal immigrants would also be propping up prices. So would foreigners who buy with cash. As would anyone who wants to buy a home.

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