It was to my surprise when I learn of Michelle Malkin a FOX News contributor when said on TV today, that she uncovered "one giant paternal elephant in the room that has slipped notice": illegal immigration, crime-enabling banks and open-borders Bush policies fueled the mortgage crisis. She blame much of the current mortgage crisis to Latino home buyers. specially the undocumented one. She conitnues on by mentioning some foreclosure statics on cities where Latinos are majorities.
What she fail to mention on her blog is the fact that undocumented Latino homeowners default rates are much lower that the documented one. That Latino homeowners take pride on homeownership and what it means for their families. She even mistakly try to translate what it seam an advertisment scrip "Sin verificacion de ingresos! Sin verificacion de documento! which loosely translates as, 'Income tax forms are not required, nor are immigration papers." Well that was very loosely translation if you ask me, being a proud Latino real estate broker and a loan officer, I can tell you that what this ad is nothing less that a NINA advertisment (No Income No Assest Loan).
I will stop here as this blog is really getting me upset and frustated that a inmigrant like person has so poor opinion on inmigrant after all that we have done to build this great country, and I am not only talking about Latinos but the people that entered this country thur Ellis Island in the 1900s.
Saludos,
Bill Arce
www.realestatelatino.com
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