Question #1: Could I be arrested for buying a home using my ITIN for this purpose?

These are questions asked by my clients using the ITIN to purchase a home.

And I place these questions here in order to help us, as real estate professional, be as thorough and informative as we can to help the ITIN clients be comfortable about buying a home with their ITIN.

Could I be arrested for buying a home using my ITIN for this purpose?

As many of you know, the answer is NO but the borrowers need to hear this from us. Further more you have to assure them that using the ITIN for banking purposes such as saving and checking accounts with a financial institution is a legitimate use of the ITIN. And since financing a home is through a financial institution, the purchase of the home is not going to put them on a INS Watch List.

This may sound elementary but right now there is a highly influential religious organization that is discouraging the use of the ITIN for banking purpose and/or purchasing a home because this use of the ITIN is not specifically state on the IRS website and/or policy, according to this religious group, making it an illegal act. And hence jeopardizing their immigration status more then it already is.

So don't minimize the question because they have a bigger implication to these families.

Posted by Eliud Gautier on 10/13/2007 10:27 PM

Comments (1)

1 Comments on Question #1: Could I be arrested for buying a home using my ITIN for this purpose?

Actually, one further important aspect in initiating ITIN Mortgages is that the individual buyer can actually have their citizenship status placed on "expedited economic activity" status for legalization as they are contributing to the economic development of the United States, as well as their own economics.

Having to deal with the immigration issue is our toughest concern in attaining further ITIN loans generation, this is one manner in which we can combat this discrimination.

10/15/2007 01:17 AM

by Jacob Gonzales

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