New home construction. (Photo: Katy Grimes for California Globe)
Reality Vs. Narrative in Crazifornia: Illegal Immigrants Getting Taxpayer-Funded Home Loans
If the purchasers are not legal residents of the state and country, then who is really on the hook for the home loans?
By Katy Grimes, March 9, 2024 8:59 am
Why are illegal immigrant aliens getting so many taxpayer-funded benefits and services?
That’s a loaded question. But it’s also one in which the legal taxpaying citizens deserve an answer to.
These future Democrat voters currently being hustled into the United States to replace disgruntled Californians and Americans are receiving benefits ahead of America’s poor, homeless, veterans, and taxpayers.
In California, the latest program, The California Dream For All Shared Appreciation loan program, initiated in 2023 to assist qualified first-time homebuyers with down payments, is being amended to include illegal immigrants who want to buy a home.
Many of our adult offspring can’t even afford to buy a home in California. If it’s so important for the state to help low-and middle-income individuals buy homes, maybe we start with our own citizens since it’s coming out of taxpayers’ pockets?
Ahh, but that does not fit the narrative. The program wasn’t really designed to help just any low-and middle-income individuals buy homes – no, the program really is “Investing in diverse communities with financing programs that help more Californians have a place to call home.”
“Diverse communities.” This meets the narrative – “Underserved” black and brown people, and now illegal immigrants.
(Photo: Kevin Sanders for California Globe)
Assemblyman Joaquin Arambula (D-Fresno), authored AB 1840, which will expand the eligibility requirement for California’s first-time homebuyer loan program to allow illegal immigrants who reside in-state to use it.
Arambula told KTLA that the program doesn’t address eligibility based on immigration status. “The program hasn’t been clear about eligibility for undocumented individuals, and AB 1840 addresses that issue.”
Except that’s not exactly true. Foreign buyers and foreign investors buy a lot of property in California already.
The language in the bill tells us more:
“Expand opportunities for California households to accumulate wealth for themselves and their families. The agency shall make any necessary program adjustments consistent with the requirements of this chapter, which may include limiting the percentage of appreciation payable under the program, to ensure that design of the loan product is not an unreasonable impediment to homeowner wealth creation.”
and:
“An applicant under the program shall not be disqualified solely based on the applicant’s immigration status.”
“The requirements, such as being a first-time homebuyer and using the property as a primary residence, haven’t changed. However, income limits, which vary by county, changed to 120% of Area Median Income, down from 150%.”
Lowering the requirements has been tried, and it failed. Remember the housing bubble and crash of 2007-2008 where low-income people unable to qualilfy for home purchases were granted loans anyway, and eventually could not repay the loans?
Why do Democrats always come back to the same failed programs? Reality vs. the narrative – it makes them appear to be doing something, regardless of the outcome.
Then-President Barack Obama ordered banks to make the subprime mortgages, putting home-buyers on the hook for loans they couldn’t pay. (Here is a thorough, detailed article on how Obama pushed thousands of credit-poor blacks into homes they couldn’t afford, and as a civil-rights attorney, he sued banks to rubberstamp mortgages for urban residents).
What Assemblyman Arambula and the State of California is doing is similar. And rather than getting government out of the way in order for home builders to build more much-needed homes and apartments, the left is manipulating the loan system again.
They even say it aloud:
“CalHFA wants to ensure that this round of funding is distributed as equitably as possible and to make sure that there is plenty of time for potential homebuyers to learn about the program, work with a mortgage professional, and submit their applications,” Eric Johnson, spokesperson for California Finance Housing Agency, told KTLA.
“With ultra-expensive housing and high interest rates, purchasing a home in California can be a challenge, but Johnson encourages prospective home buyers to keep their hopes high.”
“People should not lose hope, as it’s still possible to buy your first home in California,” Johnson said.
Even Fed Chairman Jerome Powell admits that the problem is “the underlying housing shortage” which causes “upward pressure on housing prices.”
Just as President Obama’s housing policies led directly to millions of families (families of color in particular) losing their homes, California appears to be doing the same. And if the purchasers are not legal residents of the state and country, then who is really on the hook for the home loans?
We know who.
- ‘Trans Women’ are the Latest Chapter in ‘The Emperor’s New Clothes’ - November 21, 2024
- Voters Hand Gov. Newsom First Statewide Minimum Wage Ballot Failure in California History - November 20, 2024
- Regulatory Framework Guide Published - November 19, 2024
Now why would Democrat Assemblyman Joaquin Arambula want to provide taxpayer loans to illegal aliens instead of only to Californians who are U.S. citizens when many can’t afford to buy homes? No doubt Assemblyman Joaquin Arambula and the rest of the criminal Democrat mafia that controls the state are all getting payoffs from nefarious sources (cartels, WEF globalists, CCP, etc.) to enable the invasion by illegal aliens who will be compliant replacements for uppity U.S. citizens who are rejecting their agenda? Legislators like Democrat Assemblyman Joaquin Arambula are treasonous and hopefully they will be held accountable one day?
Taxpaying citizens, of course, will once again be on the hook for the inevitable $$fallout-failure$$ of such insanity. Interesting timing from a traitorous pandering vote-buyer Asm Joaquin Arambula (Dem), when this sort of red-carpet-for-illegals outrage, courtesy of the Dem/Marxists, is sticking in the craw of Californian legal CITIZENS with an extra oomph of gag-power right about now.
But it’s not looking accidental, is it (as Katy Grimes referenced above), that what appears to be another undeserved gift for illegal aliens, who once again will be given a place in line ahead of proper U.S. citizens, is actually setting the illegals up to fail to benefit certain scheming financial interests. As Katy Grimes referenced, loose requirements for home loans hit critical mass and failure in 2007-08, and resulted in swarms of mortgage defaults and foreclosures. One of the repercussions was that foreclosed properties were scooped up for cheap purchase by dark corporations who enormously profited from other people’s misery.
For what it’s worth let your Assembly Rep know of your objections to this bill, AB 1840, if you are so inclined, as it now makes its way through the state assembly:
https://www.assembly.ca.gov/assemblymembers
AB 1840.
Another scheme to fleece the California taxpayer!
American citizens should be prioritized!
The end, full stop! (wink, wink to Gov Gav)
The why now is becoming to look clearer. The dems are starting to panic that their day’s as the supermajority are numbered and they have to rush the next few years agenda through now or risk losing it. There will be more craziness in the days to come. The good thing is that Katy will continue to report on it which helps further infuriate the electorate. Their panic will become self-fulling and bring about their demise. A commonsense plan needs to be prepared in order to lead the State of California.
“Why do Democrats always come back to the same failed programs? Reality vs. the narrative – it makes them appear to be doing something, regardless of the outcome.”
Yes, Ms. Grimes. And their response will be that “this time is different”. The subprime mortgages of the Obama era were given to individuals who could not qualify for regular mortgages because of their incomes and poor credit ratings. Now that the illegals will be given free healthcare and will be making $20/hr working at Panera, Democrats believe that the subprime problems are “solved”. But like all of their other black-swan bubble creating policies, few will see the existential crisis coming until the bubble bursts. And then, just like the last time, we taxpayers will have to fund the bailout.
Holy cow. The subprime mortgage crisis was entirely on GW Bush’s watch. Under regulation fostered under Republican leadership caused it, not BO. smh.
Exactly, why isn’t anyone pointing this out?
Arambula would serve his district better if he returned to an emergency department and worked pro bono.
Sad puppetman Joaquin Arambula (D-Fresno) Opening the drawbridge for America’s enemies, following orders.. They are losing, the mass awakening is happening, people see thru the liars. Now is the time for them to stop their madness.
Does prior criminal activity matter? People streaming across the border are not buying houses. First they have to pay off the cartels by working in MJ farms, whore houses, or by dealing drugs.
Here’s the game.,This is to draw people here because illegal immigrants are counted in the census boosting the number of Congressional representatives and available federal funding.
For God’s sake, did everyone see what Joe Biden said in an MSNBC interview?
BREAKING: Biden apologizes for calling Laken Riley’s kiIIer an “illegal”
“I’m not gonna treat any of these people with disrespect. They built this country.”
https://twitter.com/EndWokeness/status/1766586930051924179
Good grief! He’s a brain dead puppet who looks like a corpse! The criminal Democrat mafia will probably replace him during the Democrat convention with someone like hairgel Hitler Newsom or Big Mike Obama?
They’ll try, won’t they? On the bright side, Big Mike HATES politics so probably won’t cooperate. And Americans have gotta be fully wised up to Destructo Hairgel by now. (Major credit to our own Katy Grimes for her many many “just the facts” articles listing in black and white the CA destruction under his governance.) Which I know, I know, may not matter given their sleazy tricks, and I certainly get your point. We’ll see how this plays out, of course, but this country CANNOT take another four years of the Angry Corpse.
Also, the National Origin discrimination against first-time homebuyers who were born in the United States to parents who owned a home in the United States. The program qualifications state, “ To the best of the homebuyer’s knowledge whose parents do not have ownership interest in a home in the United States.”
We really do need a quick recession in California where Sacramento runs out of money and is forced to scale back some of its spending or go bankrupt. That would clean out all the nonsense and superfluous spending. We just need a gut check once a decade. It actually happens but politicians don’t seem to learn their lesson.
You lost me when you blamed Obama for the sub prime loan crisis that ran from 2007 to 2010. He was elected in 2009. Fact checking is often easy. If you use misinformation in your story, what are the odds that everything else you say is true? 🙄
Seriously?