The massive government bailout of the nation? S Financial System Could Help Thousands of illegal immigrants Who Obtained home loans from banks That Were Encouraged to offer ‘em by the federal agency in charge of Preserving and Promoting public confidence in the system. The controversial $ 700 one billion bailout Will offer foreclosure relief for Those at Risk of Losing Their Homes and That includes Thousands of illegal immigrants Who got mortgages from U. S. Financial institutions thanks to a push from Federal Deposit Insurance Corporation (FDIC), Which Began Encouraging banks to offer services to illegal immigrants FEW years ago. Headquartered in Washington D. C. , The FDIC insure more than $ 3 trillion of deposits in U. S. IS managed by banks and a five-person board of directors Appointed by the President of the United States and Confirmed by the Senate. In the last FEW years the agency SUCCEEDED in getting SEVERAL large lending institutions to offer a Variety of banking services to illegal aliens, Including home loans. Now U. S. banks routinely offer services to People Without Social Security numbers by the Mexican identification Called Accepting matricula consular to open accounts. Some states? Like Illinois and Wisconsin? Even Used millions of dollars in public funds to Provide low-interest home loans for illegal immigrants with no credit history or literature in the U. S. The loan default rate is High Among illegal immigrants Because They Are inherently unreliable, are prone to fraud and May Be Forced by Circumstances to return home to Their Nation At Any Point, According To Congressman Representing a state has operated a wide That mortgage fraud ring featuring Hundreds of unqualified Borrowers That Used fake identities to get money. The veteran Colorado Representative Tom Tancredo, That wants to assure the bailout, set to pass this week, doesn t offer incentives for illegal aliens. In a letter to His colleagues in Congress, Tancredo Asked Safeguards That Be included on the bailout plan to verify the legal residency and identity of potential Homebuyers. This Will Prevent illegal immigrants from Obtaining Federally backed loans and home That ensures U. S. Taxpayers are not bad Absorbing Their Debts or loans made by banks to illegal aliens. Could it be a coincidence That the area? S hardest hit by home foreclosures Happen To Be illegal immigrant sanctuaries like Las Vegas, large shares of southern and northern California and the famous Arizona sanctuary of Phoenix?
